Companies: IDP IOG PCIP PPC
PetroTal (PTAL LN/TAL CN)C; Target of £0.65 per share: Production of ~15,500 bbl/d – • Bretana’s ten-day average field production, ended September 27, was 15,494 bbl/d. This represents a small increase compared to ~15.4 mbbl/d, announced two weeks ago. This is very encouraging suggesting the BN-8H well is performing very well and that overall production efficiency is high with the water system working well. This also augurs well for th
Companies: AOI CHAR DNO DNO ECHO HUR I3E IOG TAL PPC RBD SLE SAVE SQZ TTE TGL
Excellent news for IOG with the second of its Saturn Banks development wells at the Blythe field proving successful. The well confirms the pre-drill expectations for the field’s resource and initial production rates and keeps the project on track for first gas in Q4 2021 from the Blythe and Elgood fields. This production will be coming on stream into an exceptionally strong UK gas market, driving material cash flows that will ease any funding pressures on Phase 1 of the development. The finish l
Companies: IOG PLC
Market update - 29/09/2021
Companies: TGL TAL IOG LOGP VOG ZPHR MSMN
Blythe well completion
Companies: AGL DEST ELIX IOG TXP
IOG has raised £8.5m via a placing and director/management subscription to help fund its next leg of growth as it seeks to build on the momentum generated with its Saturn Banks development project, which remains on track for first gas in Q4 into an exceptionally strong gas market. The placing, alongside Saturn Banks cash flow, will fund a two-well appraisal programme that has the potential to open up two new gas hubs for IOG, leveraging its strong infrastructure position.
Calima Energy (CE1 AU)C; Target of A$0.75 per share: Good production performance – Production in August was 3,493 boe/d, up 200 boe/d compared to July as all the new wells at Brooks now contribute to production, more than offsetting natural decline. Financials for August are broadly in line with our expectations. The three new Thorsby wells drilled in August and September could be on stream for November with an individual IP rate of ~2
Companies: ALV ALV CE1 COP COP EDR IOG RDSA TETY TETY TXP
£8.5m equity raise at 25p for appraisal drilling
Companies: AGY CHAR NTQ EVE FNX IOG XSG XSG
IOG has announced a placing and director/management subscription to help fund its next leg of growth as it seeks to build on the momentum it has generated with its Saturn Banks development project, which remains on track for first gas in Q4 into an exceptionally strong gas market. The placing, alongside Saturn Banks cash flow, will fund a two-well appraisal programme that has the potential to open up two new gas hubs for IOG, leveraging its strong infrastructure position.
Eurowag confirms its intention to undertake an initial public offering on the Main Market (Premium). The Offer would be expected to comprise both (i) new Ordinary Shares to be issued by the Company, raising gross proceeds of approximately EUR200m to support Eurowag's growth strategy and (ii) existing Ordinary Shares to be sold by existing Eurowag shareholders. Eurowag is a leading pan-European integrated payments & mobility platform focused on the commercial road transportation industry. It make
Companies: CFCP CIC ENW IOG KIBO KIST KMK PEG QFI BHC
Oil advanced as a brewing hurricane shuts Gulf of Mexico crude production while the Federal Reserve reinforced its support to begin tapering stimulus by the end of the year.
Futures in New York rose 2% on Friday to post the biggest weekly gain in more than a year. Oil producers in the U.S. Gulf of Mexico have begun shutting production ahead of Hurricane Ida, which may make landfall in the New Orleans area in the next few days as a Category 3 hurricane.
Meanwhile, Federal Reserve Chair Jero
Companies: EGY OYL SOU CEG EME HE1 IOG PPC WTE PEN PEN 217270 FALE OSH
Companies: D4t4 Solutions plc (D4T4:LON)IOG PLC (IOG:LON)
Reassuring interims from IOG, which remains on track to deliver first gas from its newly named Saturn Banks Project in Q4 2021, just two years after project FID. Fortune favours the brave and IOG’s gas is scheduled to come onstream into a rampant UK gas market, with winter prices well over 100p/th. From a financial perspective, investors should be encouraged by IOG’s unrestricted cash position - £56m should see it through, especially given that Blythe drilling is progressing according to plan. A
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Companies: Sylvania Platinum Ltd.
Phoenix copper today provides an update on its ground geophysical survey over the Red Star prospect near its Empire copper project in Idaho. The Red Star skarn mineralisation (lead and silver ± copper, zinc) is associated with magnetite; the survey just undertaken was to better understand the distribution and orientation of magnetite to find potential mineralisation and to inform the location and direction of a further drilling programme.
Companies: Phoenix Copper Ltd. (United Kingdom)
Settling in shares the majority of the remaining US11.5m of convertible loan notes from the Vanchem acquisition is a positive outcome at a critical juncture in Bushveld’s evolution. The renegotiated terms allow the group to lower its debt whilst preserving precious cash resources for its more value-adding production growth initiatives. Bushveld’s recent Q3 update indicates that both Vametco and Vanchem are well on course to achieve their respective full-year production and cost targets if the qu
Companies: Bushveld Minerals Limited
We see the UK Government’s Net Zero Strategy as being overall helpful but not especially definitive. Amongst our coverage group, Drax Group (DRX LN) and Velocys (VLS LN) benefit from the Humberside CCS cluster prioritisation and Velocys from SAF support. The amount of renewables is likely to boost the need for flexibility solutions where Drax, Gore Street (GSF LN) and SIMEC Atlantis (SAE LN) can benefit. Hydrogen companies ITM (ITM LN) and Powerhouse Energy (PHE LN) are likely to find support. T
Companies: ADN DRX GSF ITM NESF PHE SAE SIT STRLNG TLG VLS
Companies: Shanta Gold Limited
Oil posted the longest stretch of weekly advances since 2015 as OPEC+ producers only modestly supply the market and as US crude supplies shrink.
Crude futures rose 1.5% Friday in New York, up for a ninth straight week. President Joe Biden said Thursday night that Americans should expect high gasoline prices to continue into next year because of supply being withheld by OPEC and other foreign oil producers. Stockpiles at the biggest US storage hub are draining to levels last seen when crude pr
Companies: FO 88E DEC EME GTC TRIN UOG WEN
We are initiating coverage of VAST Resources (VAST), which has wholly-owned Baita Plai and Manaila polymetallic mines plus an interest in two exploration projects, all located in Romania. At this stage, Baita Plai is the main driver for our valuation as it is currently being ramped up to 14kt per month. As such, we expect Baita Plai’s Cu eq output to reach c 2.4ktpa in FY23F followed by 3.3ktpa in FY24F. This, coupled with Manaila’s potential re-start of an additional 3ktpa of Cu eq over the sho
Companies: Vast Resources plc
Today’s IPO of Tungsten West (TUN-LON) unlocks a valuable, long term revenue stream for Hargreaves. This comprises a £1m per annum fee (first payment next month) as well as a mining services contract once the mine recommences production. The resulting EPS upgrades are 6% and 7% in FY22 and FY23 respectively, followed by 9% in FY24 with the first partial contribution from the mining services contract. This continues Hargreaves’ impressive recent run of forecast upgrades and reinforces our convict
Companies: Hargreaves Services plc
Companies: Union Jack Oil Plc
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Devolver Digital to join AIM, an award-winning digital video games publisher and developer in the indie games space. Recently awarded indie 'Publisher of the Year 2021' by GamesIndustry.biz. Offer TBA. Due early Nov.
Life Science REIT to join AIM raising up to £100m. This will be the first London listed real estate investment trust (REIT) focused on UK life science properties providing investors with exposure
Companies: SYS1 ARE SO4 SNG TMG TMT OHG IDE KIBO MRL
Shanta Gold (AIM: SHG) has, this morning, announced its production and operational results for the quarter ended 30th September 2021 – see Fig 1. Operationally this was a slightly weaker than expected quarter but very promising from the corporate side with a new five-year plan announced, an 0.10cps interim dividend announced and a resource update at the West Kenya Project (WKP).
QoQ production was flat at 14,194 oz and AISC rose to $1,480/oz caused by a temporary drop in grade as well as hig
Trifast has released a good interim trading update ahead of its interim results due on 23 November. Overall trading has been in line with management expectations at “both revenue and profit levels” since the AGM update in July although this belies the strength of the Group's top line performance in our view. We remain buyers.
Companies: Trifast plc
Rio’s investors day was focused on two of the most critical mining industry thematics in today’s times, i.e. green and growth. The announced measures couldn’t have materialised at a better time, given the (recent) woes pertaining to governance and the iron ore market sell-off. Remember, considering Rio’s enviable balance sheet strength, it has the flexibility to pursue the targeted plans with rigorously and, at the same time, maintain ‘relative’ shareholder reward attractiveness. Hence, we reite
Companies: Rio Tinto plc
Tungsten West (TUN.L) has joined AIM. Tungsten West is the 100% owner and operator of the historical Hemerdon tungsten and tin mine located near Plymouth in southern Devon. Hemerdon represents the world's third largest tungsten mineral resource, with a JORC (2012) compliant Mineral Resource Estimate of approximately 325Mt at 0.12 WO3. Capital raised on Admission: £39m. Anticipated Mkt Cap: £106.2m.
Future Metals NL (ASX:FME, FME.L) (formerly named Red Emperor Resources NL) had joined AIM
Companies: SOLI RBD ALU ATQT BBI CWR DRV ORCP WATR
i3 Energy indicated that Q3 2021 production amounted to 13,740 boe/d (WHIe: 13,742 boe/d) and that production in September amounted to 18,985 boe/d (WHIe: 18,834 boe/d). The company indicated that it now forecasts net operating income (“NOI” = revenue minus royalties, opex, transportation and processing) to be $US 65.7m for 2021 and $US 119.1m for the next twelve months starting 1 October 2021 – in line with our assessment that i3 Energy is on the cusp of generating more than $US 100m of cash fl
Companies: i3 Energy Plc