Faroe Petroleum (FPM LN): Discontinuing coverage
Companies: Faroe Petroleum
We are discontinuing coverage on Faroe Petroleum following the company’s upcoming delisting from AIM on 14/02/2019. The company is being acquired by DNO. Accordingly, all prior research ratings, price targets and earnings estimates must no longer be relied upon.
Equinor (EQNR NO) (not covered): Discovery in Norway | Faroe Petroleum (FPM LN); Tender, £1.60: Listing cancellation | i3 Energy (I3E LN)1; SPEC BUY, £2.50: Initiating coverage | Exploration licences award in Norway | Reabold Resources (RBD LN): Dry hole in the UK | Serinus Energy (SENX LN)1: Processing units in transit to Romania | Total (FP FP): Selling Dutch upstream? | Cadogan Petroleum (CAD LN) (not covered): Operational update in the Ukraine | Energean Oil & Gas (ENOG LN) (not covered): Tr
Companies: FPM I3E RBD SEN CAD ENOG GKP TLW TETY
Parex Resources (PXT CN); BUY, C$27.00: Andina-2 tests combined 3,800 bbl/d | Ophir Energy (OPHR LN): £0.55, HOLD; Rejection of Medco’s latest possible offer | Faroe Petroleum (FPM LN); TENDER, £1.60: Drilling update at Brasse | Lundin Petroleum (LUPE SS): Increased reserves and contingent resources | OMV (OMV AG) (not covered): 4Q18 trading update | ENI (ENI IM) (not covered): Transactions in the UAE | SDX Energy (SDX LN/CN)1,6: Update in Egypt
Companies: PXT OPHR FPM LUNE OMV ENI SDX
Jadestone Energy (JSE LN/CN): BUY, £0.50; Montara production restarts offshore Australia | Faroe Petroleum (FPM LN); TENDER, £1.60: DNO reaches 76.49% ownership | JKX Oil & GAS (JKX LN) (not covered): Operations update in the Ukraine and Russia | Wentworth Resources (WRLN LN) (not covered): Operating update in Tanzania
Companies: WRL JKX FPM JSE
Petro Matad (MATD LN) (not covered): Operational update in Mongolia | Faroe Petroleum (FPM LN); TENDER, £1.60: DNO wins hostile takeover battle | i3 Energy (I3E LN) (not covered): Operation and funding update in the UK North Sea | Manchester fracking ban in the UK | Premier Oil (PMO LN); BUY, £1.45: Trading update | Anglo African Oil & Gas (AAOG LN) (not covered): £6 mm equity raise for Congo | Eland Oil & Gas (ELA LN) (not covered): Gbetiokun operations in Nigeria
Companies: MATD FPM I3E HBR AAOG ELA
Columbus Energy Resources (CERP LN) (not covered): Operational update in Trinidad | President Energy (PPC LN) (not covered): Production update in Argentina | Regal Petroleum (RPT LN) (not covered): Ukraine update | Soco International (SIA LN) (not covered): Trading update | Faroe Petroleum (FPM LN); HOLD, £1.75: DNO increases its offer for Faroe | Independent Oil & Gas (IOG LN); BUY, £0.70: Boosting the value of the core developments | Lundin Petroleum ( LUPE SS) (not covered): Dry hole in Norwa
Companies: CERP PPC ENW PHAR FPM IOG LUNE ORC/B
DNO has increased its offer to acquire Faroe from £1.52 to £1.60 per share. The offer is now final and Faroe shareholders have until 23 January to accept it. DNO has already secured 52.44% of Faroe, which is above the required threshold to take control of Faroe’s board.
Faroe Petroleum (FPM LN); HOLD, £1.75: Reserves reduction at Oda? | Independent Oil & Gas (IOG LN); BUY, £0.80: Projects update in SNS | TransAtlantic Petroleum (TNP CN/TAT US) (not covered): Operations update in Turkey | San Leon Energy (SLE LN) (not covered): Refinancing of OML 18 RBL in Nigeria
Companies: FPM IOG VGAS SLE
Jadestone Energy (JSE LN/CN): BUY, £0.50; Montara production restart update in Australia | Faroe Petroleum (FPM LN): HOLD, £1.75 & DNO (DNO NO) (not covered): DNO purchases more shares
Companies: JSE FPM DNO
PetroTal Corp. (PTAL LN)1; BUY, £0.40: Moving to AIM: Transformational year ahead | Ophir Energy (OPHR LN); HOLD, £0.55: Transferring coverage: Possible cash offer for company | Faroe Petroleum (FPM LN); HOLD, £1.75: DNO extends duration of cash offer | Getech Group (GTC LN) (not covered): Large sale | Rockhopper Exploration (RKH LN) (not covered): Operational update
Companies: TAL OPHR FPM GTC RKH
Amerisur Resources (AMER LN) (not covered): Operational update in Colombia | Melbana Energy (MAY AU) (not covered): Farm-out in Cuba | Ophir Energy (OPHR LN); Speculative Buy, £0.55: Possible cash offer for the company | Faroe petroleum (FPM LN); HOLD, £1.75: Well results in Norway | RockRose Energy (RRE LN) (not covered): Operational update in the North Sea | Energean Oil & Gas (ENOG LN) (not covered): New gas contract in Israel
Companies: AMER OPHR FPM RRE ENOG
Greenfields Petroleum (TSX-V:GNF) production focused company with operated assets in Azerbaijan seeking AIM dual listing including $60m private placement. Mkt cap $12.6m CAD. Expected late January 2019.
Companies: TMT FPM SPSY LEX RENX AMER VOG WPHO
The Brasse East exploration well was water wet. The Brasse appraisal well in the northern area however encountered 40 m of gross hydrocarbon-bearing reservoir. Both the reservoir depths and the hydrocarbon contact are similar to the pre-drill expectations.
President Energy (PPC LN) (not covered): Operating update in Argentina | Ophir Energy (OPHR LN): Speculative Buy, £0.70; Drilling update | Faroe Petroleum (FPM LN)6 ; HOLD, £1.75: Accounting for the assets swap with Equinor | Premier Oil (PMO LN); BUY, £2.25: Operation update |
Companies: PPC OPHR FPM HBR
Research Tree provides access to ongoing research coverage, media content and regulatory news on Faroe Petroleum.
We currently have 175 research reports from 6
With the recent acquisition of producing assets in the US, Canadian Overseas Petroleum (COPL) has started a new chapter in its existence and has already transformed its value proposition to investors. Following the recent operational developments, we are already seeing potential for a significant additional value accretion in the next 12 months, not only from the producing Barron Flats Unit (BFU), but from several other opportunities as well. The potentially better-than- expected production ramp
Companies: Canadian Overseas Petroleum Limited
Based on the success of the Talitha #A well result, we are upgrading our fair value estimate for Pantheon Resources to 172p (from under review; and from a pre-drill fair value estimate of 89p). We believe that the Talitha #A result confirmed the presence of multiple oil-bearing conventional oil reservoirs that have success-case potentials of elephantine scale. Our valuation reflects only the potential of Pantheon Resources' prime assets for which resource estimates have been provided; namely, Th
Companies: Pantheon Resources plc
TMT Acquisition (TMTA.L) has joined the Main Market (Standard) pursue opportunities to acquire businesses in the technology, media and telecom sector. Raised £5m, mkt cap £5.5m.
NMCN Plc has left the Main Market (Premium) following the appointment of administrators.
What’s cooking in the IPO kitchen?
Harmony Energy Income Trust to join the Specialist Fund Segment of the Main Market raising up to £230m. The Company's investment objective is to provide investors with an attractive
Companies: SEE FST ORCP DNL FDBK 8091 IGP
The results of the recent Extended Well Test (EWT) programme at the West Newton project site located within UK onshore licence PEDL183 (UJO: 16.665%) have confirmed that the WNA-1, WNA-2 and WNB-1z wells represent significant hydrocarbon discoveries within the Kirkham Abbey formation. In this regard, the operator has issued updated best estimate in-place hydrocarbons volumes for the wider licence area and will now sanction several external studies which will encompass a range of potential reserv
Companies: Union Jack Oil Plc
West Newton A-2 flow test and resource update
No Joiners Today.
Arrow Global has left the Main Market following a takeover.
St Peter Port Capital has left AIM after entering a solvent members' voluntary liquidation of the Company.
What’s cooking in the IPO kitchen?
Light Science Tech Holdings, the controlled environment agriculture technology and contract electronics manufacturing Group to join AIM. Raising £5m. Expected mkt cap £17.4m. Due 15 Oct.
Harmony Energy Income Trust to join the Specialist Fund Segment of the Main M
Companies: CZA ADME AAU GAL GGP IQE PCIP YOU
Falcon Oil & Gas has announced the completion of the drilling of the Velkerri 76 appraisal well to a total vertical depth of 2,129m. Preliminary evaluation of the well is very encouraging and has confirmed the presence of four prospective intervals within the Amungee Member, proving both the continuation and the uniformity of the regionally extensive Amungee Member across the Beetaloo Sub-Basin. Analysis of the mud gas data taken during drilling has evidenced that the Amungee Member at the Velke
Companies: Falcon Oil & Gas Ltd.
No Joiners Today.
No Leavers Today.
What’s cooking in the IPO kitchen?
Gymshark has started to put together plans for a stock market listing according to City A.M. The company hit a £1bn valuation just over a year ago and boasts customers in more than 130 countries. Gymshark was founded by teenager Ben Francis in 2012 in his parents’ garage with products that appeal to Gen Z consumers. Timing TBA
Rubix Group Holdings, the market leading pan-European distributor of industrial main
Companies: ZOO CUSN ECHO IDEA PURP TEK
• 3Q21 production was 9,508 bbl/d in line with our expectations (9,500 bbl/d).
• From October 1 to October 11, production averaged 14,218 bbl/d, down from 15,131 bbl/d over the last 7 day of September and from 15,494 bbl/d over the ten-day average ended September 27. The reduction was due to a ~5.4% downtime and week on week fluctuations.
• Well 8H continues to perform extremely well with 7,485 bbl/d in 4Q21 to date (minimal decline compared to 7,700 bbl/d in average of the first 30 days of oper
Companies: PetroTal Corp.
EQTEC have just announced that it will be investing an additional £2.1m in the North Fork project In California to increase its equity from 10% to 49%. This forms part of EQTEC's wider strategy of ownership in projects to accelerate their development, both in terms of capital and expertise.
Companies: EQTEC PLC
EQTEC have signed an agreement for the proposed acquisition of a 5MW project in Drama, Greece. The plant will produce 5MW of energy from locally sourced forestry waste.
H1 2021 results
Companies: Hurricane Energy Plc
A resilient, low-cost production base, combined with a rising oil price, has helped underpin high levels of cash generation during Q3/21, laying the foundations for Trinity to accelerate investment and in-turn achieve longer-term production growth. Initial results from the continued interpretation of the onshore 3D seismic data have proved very encouraging, with several, potentially meaningful, new plays and leads already identified. Trinity expects to finalise an onshore drilling programme duri
Companies: Trinity Exploration & Production Plc
US crude futures topped $80 a barrel for the first time since November 2014 as a global energy crisis boosts demand at a time when OPEC+ producers are keeping supplies tight.
Futures in New York rose 1.3% on Friday, popping above the key, psychological level before pulling back. This week brought many indications that supplies will remain constrained: Saudi Aramco said a global natural gas shortage was already boosting oil demand for power generation and heating, and the US Energy Department
Companies: FO 88E DEC EME GTC TRIN UOG WEN
EMH has reported an update to the Mineral Resource Estimate (MRE) at the company’s Cinovec lithium deposit in the Czech Republic. The MRE incorporates recent infill diamond drilling and has resulted in an overall increase in LCE (lithium carbonate equivalent) to 7.41Mt LCE. The critical takeaway is that 61.1% of the contained LCE in the resource is now classified in the higher confidence measured and indicated categories. Measured resources have been reported for the first time on the back of ti
Companies: European Metals Holdings Limited