reports
- Stephane Foucaud
AUCTUS ON FRIDAY - 14/03/2025
AUCTUS PUBLICATIONS ________________________________________ Arrow Exploration (AXL LN/CN)C; Target price of £0.80 per share: Reserves increase showcases FY24 drilling success – YE24 2P and 3P reserves are estimated at 13.6 mmboe and 22.3 mmboe, respectively. This represents an increase of 15% and 25%, respectively vs. YE23. Adding back FY24 production of 1.3 mmboe, the 2024 activity program has added approximately 2.8 mmboe of 2P reserves and 5.3 mmboe of 3P reserves at Tapir (overall increase ...
- Stephane Foucaud
Zephyr Energy Plc (AIM: ZPHR): Key Paradox well test results expected ...
• FY24 sales volumes averaged 1,149 boe/d including 139 bbl/d of NGL. The NGL sales were higher than we were anticipating (~100 bbl/d) but FY24 production of 1,052 boe/d was impacted by downtime experienced in the Williston Basin in 4Q24 due to extreme weather in the area. 4Q24 net production was 829 boe/d (plus NGL that we estimate at 90-100 bbl/d). • In the Paradox basin, 97% of the lateral in the State 36-2 LNW-CC-R well was drilled in the Cane Creek reservoir with elevated mud gas levels. ...
- Stephane Foucaud
AUCTUS ON FRIDAY - 21/02/2025
AUCTUS PUBLICATIONS ________________________________________ Condor Energies (CDR CN)C; Target price of C$5.60 per share: Very high flow rate at bypassed zone boosts production and unlocks reserves - A potential bypassed 60 m gas pay section, identified using advanced cased-hole logging tools and reprocessed existing 3-D seismic data, was put in production over a 23 m perforated interval at a rate of 1,100 boe/d, increasing to 1,300 boe/d over the past five days as the completion fluid has been ...
SEY STERLING ENERGY PLC
MUR MURPHY OIL CORPORATION
ENI ENI S.P.A.
REP REPSOL SA
BOR BORDERS & SOUTHERN PETROLEUM PLC
PANR PANTHEON RESOURCES
BPV BAHAMAS PETROLEUM CO. PLC
SQZ SERICA ENERGY
PHAR PHAROS ENERGY
DGOC DIVERSIFIED GAS & OIL
ZPHR ZEPHYR ENERGY
CRCL CORCEL
TAL PETROTAL (TAL)
WDS WOODSIDE PETROLEUM LTD
PNOR PETRONOR E&P LTD
ITH ITHACA ENERGY PLC
Z29 029 GROUP SE
CDR CONDOR ENERGIES INC
PLSR PULSAR HELIUM INC.
- Stephane Foucaud
AUCTUS ON FRIDAY - 24/01/2025
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of A$0.30 per share: Historic permit award in Italy opens a new growth area - ADX has been offered and accepted the “d 363 C.R-.AX” permit in the Sicily Channel, offshore Italy, covering a maximum area of 346 km2. ADX applied for the permit in 2018, but the moratorium on awarding new exploration blocks in Italy was only lifted last year. ADX will become a licensed operator in Italy as well as Austria ...
GPRK GEOPARK
EGY VAALCO ENERGY INC.
SEY STERLING ENERGY PLC
ENW ENWELL ENERGY
IOX INTEROIL EXPLORATION & PRODUCTION ASA
PANR PANTHEON RESOURCES
ENQ ENQUEST PLC
SAVE SAVANNAH ENERGY
SQZ SERICA ENERGY
PHAR PHAROS ENERGY
NTOG NOSTRA TERRA OIL & GAS COMPANY
GKP GULF KEYSTONE PETROLEUM LTD.
ENOG ENERGEAN PLC
ZPHR ZEPHYR ENERGY
OKEA OKEA
JSE JADESTONE ENERGY
HBR HARBOUR ENERGY PLC
CEQ CRITERIUM ENERGY LTD.
PRD PREDATOR OIL & GAS HOLDINGS PLC
ADX ADX ENERGY LTD
J4V VAR ENERGI ASA
SHELL ROYAL DUTCH SHELL
HEX HELIX EXPLORATION PLC
- Hybridan Team
Small Cap Feast
Admissions: None Delistings: Britvic (BVIC.L) has left the Main Market following its takeover by Carlsberg. Potential** Initial Public Offerings: Cardiogeni PLC has announced its intention to IPO on the AQSE Growth Market. The Group’s platform technology is developing a new class of life-saving cellular medicines that enables the creation of unique (living) cells that are engineered with a therapeutic function. The Group’s lead product, CLXR-001, is a patented engineered cellular medicine to tre...
- Stephane Foucaud
AUCTUS ON FRIDAY - 10/01/2025
AUCTUS PUBLICATIONS ________________________________________ Arrow Exploration (AXL LN/ CN)C; Target price of £0.80 per share: Flow rate in line with expectations at AB-1. Two more appraisal wells in January - The AB-1 (Alberta Llanos) exploration well is now on production at an oil rate of 658 bbl/d gross (329 bbl/d net) with 49% water cut from 62 feet of net pay in the Ubaque. The IP rate is in line with the expectations set out in the company’s September corporate presentation (321 bbl/d net)...
ALVOF ALVOPETRO ENERGY LTD
SEI. SINTANA ENERGY
TRP TOWER RESOURCES PLC
VLE VALEURA ENERGY INC.
SQZ SERICA ENERGY
DGOC DIVERSIFIED GAS & OIL
ZPHR ZEPHYR ENERGY
CORO CORO ENERGY
AXL. ARROW EXPLORATION LTD
TAL PETROTAL (TAL)
KIST KISTOS PLC
PNOR PETRONOR E&P LTD
SHELL ROYAL DUTCH SHELL
PLSR PULSAR HELIUM INC.
- Stephane Foucaud
AUCTUS ON FRIDAY - 20/12/2024
AUCTUS PUBLICATIONS ________________________________________ Arrow Exploration (AXL LN/CN)C; Target price of £0.80 per share: Material discovery at Alberta Llanos - The AB-1 (Alberta Llanos) exploration well has encountered four main hydrocarbon bearing reservoirs with a total true vertical depth of 121 feet, including the C7, Gacheta, Guadalupe, and Ubaque formations. The main pre-drill targets were the C7 and the Ubaque formations. The Gacheta and Guadalupe formations carried a higher risk, an...
TLW TULLOW OIL PLC
OMV OMV AG
ALVOF ALVOPETRO ENERGY LTD
SEI. SINTANA ENERGY
CAD CADOGAN PETROLEUM
ENQ ENQUEST PLC
DNO DNO ASA CLASS A
FEC FRONTERA ENERGY CORP
ZPHR ZEPHYR ENERGY
KOS KOSMOS ENERGY LTD.
ORC/B ORCA EXPLORATION GROUP CL B
OKEA OKEA
TAO TAG OIL LTD
AXL. ARROW EXPLORATION LTD
PXEN PROSPEX ENERGY PLC
J4V VAR ENERGI ASA
BP. BP PLC
CDR CONDOR ENERGIES INC
AST ASCENT RESOURCES PLC
- Stephane Foucaud
Zephyr Energy Plc (AIM: ZPHR): Funding secured for the Paradox
• Zephyr has now entered into binding documentation to fully-fund all expected drilling, completion and production test costs for the 5,500 ft extension and acidization of the State 36-2R well. The funding has increased to US$7.5 mm (US$7.0 mm previously). • In return, the funding partner will earn a 50% WI in the well. The wellbore investor will cover its pro rata portion of the well's operating and overhead costs. Net revenues from the well will be split 50:50 between Zephyr and the wellbore i...
- Stephane Foucaud
AUCTUS ON FRIDAY - 06/12/2024
AUCTUS PUBLICATIONS ________________________________________ Chariot (CHAR LN)C; Target price of £0.08 per share: US$100 mm guarantees highlight the value of the South Africa energy trading business - British International Investment (BII) and GuarantCo have announced a US$100 mm guarantee finance facility for Etana Energy, the South African electricity trading platform which is owned and was co-founded by Chariot (49%) and H1 Holdings (51%). Etana is one of the few companies holding an electric...
GPRK GEOPARK
A2PAZ7 TETHYS PETROLEUM
GENL GENEL ENERGY
CUE CUE ENERGY RESOURCES
SEI. SINTANA ENERGY
CHAR CHARIOT OIL & GAS
PEN PANORO ENERGY ASA
SAVE SAVANNAH ENERGY
SQZ SERICA ENERGY
DNO DNO ASA CLASS A
PHAR PHAROS ENERGY
CNE CANACOL ENERGY LTD
ZPHR ZEPHYR ENERGY
SDX SDX ENERGY
TAL PETROTAL (TAL)
ORCA ORCADIAN ENERGY PLC
SHELL ROYAL DUTCH SHELL
- Stephane Foucaud
AUCTUS ON FRIDAY - 18/10/2024
We have launched our new website with a revamped research portal – Home | Auctus Advisors. We’d be very interested to receive any feedback you may have. AUCTUS PUBLICATIONS ________________________________________ Criterium Energy (CEQ CN)C; Target price C$0.35 per share: Encouraging drilling results. Decreasing opex – Production to date in October is 950 bbl/d, the same level as reported on 24 September. The MGH-43 well has encountered 41 m of prospective gross sand intervals with good to exc...
GALP GALP ENERGIA SGPS SA CLASS B
EOG EUROPA OIL & GAS (HOLDINGS) PLC
MSMN MOSMAN OIL AND GAS
RKH ROCKHOPPER EXPLORATION
TRP TOWER RESOURCES PLC
UJO UNION JACK OIL
XOM EXXON MOBIL CORPORATION
ZPHR ZEPHYR ENERGY
TAO TAG OIL LTD
TRIN TRINITY EXPLORATION & PRODUCTION
WDS WOODSIDE PETROLEUM LTD
CEQ CRITERIUM ENERGY LTD.
PLSR CN PULSAR HELIUM INC.
- Stephane Foucaud
AUCTUS ON FRIDAY - 11/10/2024
AUCTUS PUBLICATIONS ________________________________________ GeoPark (GPRK US)C; Target price US$26 per share: Downtime and blockades continue to impact production. All eyes on Argentina – 3Q24 production was 33,215 boe/d with production in Colombia still impacted by downtime and blockades (we expected 34.6 mboe/d). Production at Llanos-34 continues to decline. Production in Brazil remains shut-in. GeoPark had highlighted these downside risks in August. This was partially offset by (1) high prod...
GPRK GEOPARK
A2PAZ7 TETHYS PETROLEUM
OMV OMV AG
PXT PAREX RESOURCES INC.
REP REPSOL SA
ALVOF ALVOPETRO ENERGY LTD
MATD PETRO MATAD
GKP GULF KEYSTONE PETROLEUM LTD.
ZPHR ZEPHYR ENERGY
TAL PETROTAL (TAL)
PNOR PETRONOR E&P LTD
PLSR CN PULSAR HELIUM INC.
J4V VAR ENERGI ASA
SHELL ROYAL DUTCH SHELL
- Stephane Foucaud
Zephyr Energy Plc (AIM: ZPHR): Paradox well to be lengthened. Potentia...
• Zephyr has decided to extend the State 36-2R well in the Paradox basin by drilling a 5,500 ft lateral on the well. • We are not surprised by this decision given that the acid job performed on the existing 130 ft interval was very successful with peak test production of >2,100 boe/d. • Zephyr believes that the ultimate recovery of the extended well could reach 2 mmboe, which is well above what would have been recovered from the 130 ft interval. • The 5,500 ft lateral is expected to cost ~US$7 ...
- Stephane Foucaud
AUCTUS ON FRIDAY - 27/09/2024
AUCTUS PUBLICATIONS ________________________________________ Arrow Exploration (AXL LN/CN)C; Target price £0.70 per share: Another horizontal well with high flow rate – The fourth horizontal well at Carrizales Notre (CNB HZ-5) has been put on production at a gross oil rate of 2.7 mbbl/d (1.35 mbbl/d net to Arrow) with a water cut of 11%. This flow rate compares favourably with CNB HZ-4 that was put on production at a gross oil rate of >2.5 mbbl/d (8% water cut). Overall gross oil production fro...
- Stephane Foucaud
Zephyr Energy Plc (AIM: ZPHR): Decision on next steps in the Paradox i...
• • 1H24 sales volumes in the Williston were 1,239 boe/d. • The FY24 production guidance for the Williston is unchanged at 1.1-1.3 mboe/d. This excludes >100 boe/d of natural gas liquids. • While the cash position at the end of June 2024 was ~US$1.1 mm, the receivables were US$11.5 mm (with payables of only US$7.6 mm). The overall cash plus receivables minus payables of ~US$5 mm is well above our expectations of US$0.2 mm. This reflects the expected imminent payments of US$3.9 mm (US$3 mm from t...
Hybridan Small Cap Feast - 6 September 2024
6th September 2024 * A corporate client of Hybridan LLP ** Arranged by type of listing and date of announcement *** Alphabetically arranged **** Potential means Intention to Float (ITF) has been announced, or it is a rumour Dish of the day Admissions: None Delistings: None What’s baking in the oven? Our daily digest of news from UK Small Caps If you would like to unsubscribe, please email with “unsubscribe me”. Hybridan Chefs Banquet Buffet*** Camellia 4250p £117.4m (CAM.L) The UK based hold...
- Stephane Foucaud
Zephyr Energy Plc (AIM: ZPHR): Acidization results in high flow rate a...
• Following a successful acidization job, Well State 36-2R has been tested at peak rates of >2,100 boe/d, including up to 510 bbl/d of condensate/light oil and almost no water. This excludes potential natural gas liquids production that would result in an even higher rate. • This flow rate compares very positively with the peak rate of 1,350 boe/d achieved during the first test (announced in July). The pressure response during the second test is also much better than during the previous test. T...
- Stephane Foucaud
AUCTUS ON FRIDAY - 30/08/2024
AUCTUS PUBLICATIONS ________________________________________ Arrow Exploration (AXL LN/CN)C; Target price £0.70 per share: Key horizontal wells outperforms expectations – Arrow has now drilled 3 horizontal wells in Carrizales Norte. The flow rates of the wells are exceeding our expectations. The first CN horizontal well (CNB HZ-1) is being restricted to a current oil flow rate of 2,090 bbl/d with approximately 41% water cut. The average oil production for the first 60 days of production was 2,37...
- Stephane Foucaud
AUCTUS ON FRIDAY - 16/08/2024
AUCTUS PUBLICATIONS ________________________________________ Criterium Energy (CEQ CN)C; Target price C$0.35 per share: New drilling expected to start in September – A drilling rig is scheduled to be mobilized to site in August. The two-well infill program, targeting a previously undrilled section of the MGH Field, is anticipated to commence in early September with the wells expected to come on production in early November at a forecasted combined rate of 300 bbl/d. While this is a bit later tha...
GTE GRAN TIERRA ENERGY
GPRK GEOPARK
TXP TOUCHSTONE EXPLORATION
VLE VALEURA ENERGY INC.
DNO DNO ASA CLASS A
XOM EXXON MOBIL CORPORATION
DGOC DIVERSIFIED GAS & OIL
AOI AFRICA OIL CORP
ZPHR ZEPHYR ENERGY
SENX SERINUS ENERGY
I3E I3 ENERGY
CEQ CRITERIUM ENERGY LTD.
PLSR CN PULSAR HELIUM INC.
- Stephane Foucaud
Zephyr Energy Plc (AIM: ZPHR): Production guidance for non op. assets ...
• 2Q24 production in the Williston Basin was 1,226 boe/d. This excludes natural gas liquids (historically 150-200 bbl/d). This represents an increase of 7% compared to 1Q24 but 2Q24 production from the six wells Slawson wells continues to be partially impacted by gas export infrastructure constraints. • The FY24 production guidance for the Williston Basin has been set at 1.1-1.3 mboe/d excluding natural gas liquids. Including natural gas liquids, we estimate that this would equate to 1.25-1.5 mb...
- Stephane Foucaud
AUCTUS ON FRIDAY - 26/07/2024
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; target of A$0.75 per share: Diversified and high impact newsflow over the balance of 2024 – ADX has confirmed a very busy programme of activity from September. The overall unrisked value of the programme is ~A$1.70 per share, which represents 17x the current share price. In early September, ADX will drill the Anshof-2A side track. The well is expected to intersect thick Eocene reservoirs similar to that encountere...
EQNR EQUINOR ASA
GALP GALP ENERGIA SGPS SA CLASS B
EOG EUROPA OIL & GAS (HOLDINGS) PLC
GPRK GEOPARK
MSMN MOSMAN OIL AND GAS
ENI ENI S.P.A.
REP REPSOL SA
KAR KAROON GAS AUSTRALIA LTD.
PANR PANTHEON RESOURCES
CHAR CHARIOT OIL & GAS
ZPHR ZEPHYR ENERGY
TRIN TRINITY EXPLORATION & PRODUCTION
WDS WOODSIDE PETROLEUM LTD
ATOM ATOME ENERGY PLC
SEAPT NO SEACREST PETROLEO BERMUDA - SEAPT NO
ADX ADX ENERGY LTD
J4V VAR ENERGI ASA
TCF TRILLION ENERGY INTERNATIONAL INC
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