PetroTal (PTAL LN/TAL CN)C; Target of £0.65 per share: Latest well flows >7.6 mbbl/d. Sales pipeline back on line – The latest horizontal well (BN-8H) has achieved a ten day initial oil production rate of ~7.6 mbbl/d. This is materially above our expectations of ~5 mbbl/d. As a result, current oil production is ~ 15.4 mbbl/d, also above our expectations of >13 mbbl/d. This is a very good result and, with another development well due to
Companies: TRIN AOI ALV ALV HUR LEK LUPE TAL PHAR PGR TLW
Trinity Exploration & Production, Diversified Energy Company, Getech Group, Kistos, Phoenix Global Resources, Union Jack Oil, Rockhopper Exploration, Sound Energy, Siccar Point Energy, SDX Energy, Nostrum Oil & Gas, Pantheon Resources, Gran Tierra Energy, Hurricane Energy, Wintershall DEA
Companies: GTE DEC GTC HUR KIST NOG PANR PGR RKH SDX SOU TRIN UJO
Bahamas Petroleum Company (BPC LN)/Challenger Energy Group (CEG LN)C; Target of 1.20p per share: Completing financing – BPC has raised £6.9 mm of new equity. This is an important step for the company to fund the upcoming work programme. The key near term newsflow is the drilling of the saffran#2 appraisal well that could derisk ~11 mmbbl. The company has now changed its name to Challenger Energy and will trade under the ticker of “CEG LN”.
GeoPark (GPRK US)C; Target price
Companies: CEG BP/ CNE CNE DEC ENI ENI FEC GPRK GPRK GTE HUR NOG PXT PGR RDSA SDX SNM TETY TETY
Phoenix Global Resources (PGR) – Production falls 38.5% as Argentine shutdowns hit hard | Star Phoenix Group (STA LN): Prudent approach to capital discipline
Companies: Phoenix Global Resources plc (PGR:LON)Star Phoenix Group Ltd (STA:LON)
SDX Energy (SDX LN)C; Target price £0.45 per share: Growing the prize, accelerating drilling - Sales in Morocco are now almost back to pre COVID 19 levels (90%). This is important for cash flow. SDX has now mapped additional prospects on the South Disouq license, resulting in gross prospective resources increasing by 139 bcf to 233 bcf. Drilling in Egypt is being accelerated to start in 2Q21 with two initial wells targeting 165 bcf, including the new Hanut prospect with 139 bcf gross prospective
Companies: UKOG TLW SDX REP PXT HBR PGR OMV MAHAA LUNE JKX HUR GTC DEC
PetroTal (PTAL LN/TAL CN)C; Target: £0.45: Initiating coverage – PetroTal is a production and reserve growth story in Peru with a market cap of ~£90 mm. Management’s experience of operating in the jungle and their deep in country relationships are key. Project execution has been excellent. The Bretaña field (48 mmbbl 2P reserves) was acquired from Gran Tierra in late 2017 with production of 1 mbbl/d achieved in 3Q18. By YE19 that figure had grown to >13 mbbl/d. While COVID-19 forced a shut down
Companies: SEN SDX TAL PGR VOG PXT SAVE RDSA FAR
Serinus Energy (SENX LN): 1Q20 results - strong financial and operational performance | Phoenix Global Resources (PGR LN): Mercuria agrees to amend convertible facilities agreement
Companies: Serinus Energy plc (SEN:WAR)Phoenix Global Resources plc (PGR:LON)
Ascent Resources (AST LN): Entering Cuba | Diversified Gas and Oil (DGOC LN): Acquisition in the US | Phoenix Global Resources (PGR LN): Production shutdown and licence termination in Argentina | Premier Oil (PMO LN): Exiting Area A in Alaska following drilling results | Coro Energy (CORO LN) and Empyrean Energy (EME LN): Resources increase in Indonesia | Falcon Oil & Gas (FOG LN/FO CN): Farm out transaction in Australia | Oil Search (OSH AU): US$700 mm equity raise| Discovery in Norway | Baron
Companies: 88E AOI BLOE BOIL CHAR CORO DEC EGY EME ENOG ENQ IGAS KOS OSH OMV PGR HBR REP ENW SDX TETY UPL VLE AST
Tullow Oil (TLW LN): Not a merry Christmas at Tullow: CEO resigns, production guidance cut, dividend suspended | Rockhopper Exploration (RKH LN): Abu Sennan transaction update | Phoenix Global Resources (PGR LN): Strong operational update from PGR
Companies: TLW RKH PGR
Geopark (GPRK US)1 ; BUY, U$27.00: Recommended cash acquisition of Amerisur Resources (AMER LN) (not covered) | Phoenix Global Resources (PGR LN) (not covered): Additional funding | Parkmead Group (The) (PMG LN) (not covered): Results for year ended 30 June 2019 | DNO (DNO NO) (not covered): Baeshiqa testing Update
Companies: GPRK PGR PMG DNO
PetroTal (PTAL LN/TAL CN)1 ; BUY, £0.45: Another very good operating update | Phoenix Global Resources (PGR LN) (not covered): Divestment of Argentinian assets to Echo Energy (ECHO LN) (not covered) | President Energy (PPR LN) (not covered): Acquisition in Argentina | Valeura Energy (VLU LN/VLE CN)1,7; BUY, £6.00: Final well test results at Inanli-1 and decision by Equinor to start testing Devepinar-1
Companies: TAL PGR PPC VLE
GeoPark (GPRK US)1 ; BUY, US$26.00: New exploration acreage in Brazil | Phoenix Global Resources (PGR LN) (not covered): 1H19 update in Argentina | Regal Petroleum (RPT LN) (not covered): 1H19 results
Companies: GPRK PGR ENW
Phoenix Resources (PGR LN) (not covered): Vaca Muerta update in Argentina | Africa Oil (AOI CN/SS): BUY, C$2.60; 2Q19 results | Orca Exploration (ORC.A/B CN) (not covered): 2Q19 results
Companies: PGR AOI ORC/B
Companies: THR TRX KIBO VNET PGR OCI JAN KRS IHC ALS
Amerisur Resources (AMER LN) (not covered): Operations update in Colombia | Arrow Exploration (AXL CN) (not covered): Discovery in Colombia | Phoenix Global Resources (PGR LN) (not covered): 2Q19 update in Argentina | JKX Oil & Gas (JKX LN) (not covered): Drilling update in the Ukraine
Companies: AMER PGR JKX
Research Tree provides access to ongoing research coverage, media content and regulatory news on Phoenix Global Resources plc.
We currently have 43 research reports from 7
Phoenix copper today announces an update on its deep drilling program below the proposed Empire oxide open pit resource and into the deeper sulphide zone. Phoenix is roughly 1/4 the way through a 4,500m drilling programme and has once again shown that high-grade zones of copper, zinc and lead sulphide mineralisation exist, nearly always associated with gold and/or silver and often with elevated concentrations of tungsten and molybdenum.
Companies: Phoenix Copper Ltd. (United Kingdom)
Friday's market sell off saw some violent downward moves in many stocks with little initial differentiation between sectors or the key drivers of businesses, creating significant share price drops in a number of higher quality or uncorrelated names. We take a look at some stocks we believe have either seen an unwarranted sell-off, have seen weakness go under the radar or where there is now a more attractive opportunity.
Companies: ANX IBPO CYAN SOM EQT AFM
Across a broader market sell off EQTEC have shown resilience and is trading at 1.55p, above its placing in May, up 25% from one month ago.
Companies: EQTEC PLC
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What’s cooking in the IPO kitchen?
Trinistar Liverpool S.a r.L announces its potential listing of a newly formed single asset company which will own the Capital Building in Liverpool on the IPSX. Upon admission the Company would become a real estate investment trust (REIT). The Capital Building occupies close to a 3.5 acre freehold site in the centre of Liverpool’s business district; the building comprises c425,000 square feet of predominantly of
Companies: ADBE ADBE SYM ARC AVCT CMCL CLIN DCTA FRAN OSI
Initiating Coverage: Price Target 20p
Potential Beyond Tin
AfriTin Mining Limited (ATM) is one of only three listed tin producers in Western markets. It has a large (820km2) land package in Namibia comprising 5 prospective licenses of which the Uis mine is the most advanced and already in production. Near term growth is being delivered with an 80% increase in tin production between 2022 and 2024. However, this is only scratching the surface and there are more than conceptual plans being fo
Companies: AfriTin Mining Ltd.
SolGold (“SOLG”) has published the first partial assay results from its drilling programme at the Varela target on the Rio Amarillo concession, 35km from the flagship Cascabel project. Hole 1 has been assayed to a depth of 1,052m, revealing an intercept of 72m @ 2.16 g/t Au from 639.7m, including 24m @ 5.77 g/t Au. More interestingly assay results are pending from 1,052m to 1,708.1m (EOH) where free gold and porphyry mineralisation have been identified. Intersections of porphyry style mineralisa
Companies: SolGold Plc
West Newton planning update
Companies: Union Jack Oil Plc
Harland & Wolff (H&W) has raised £8.2m gross through a placing and PrimaryBid at 20p to secure its next stage of growth. Over the past two years, H&W has acquired a series of strategically important assets across the UK, and is proceeding to convert its pipeline opportunities into contracts. The positive recent announcement that DAERA would award the full marine licence for Islandmagee represents a significant milestone in allowing H&W to monetise this asset, with management estimating that sale
Companies: Harland & Wolff Group Holdings PLC
Trinity has received FDP approval from the Ministry of Energy and Energy Industries (MEEI) for the Phase 1 development of the Galeota licence. The submitted development plan has the potential to add additional peak production of c4,000 bopd; however more recent modelling suggests that intra-year peak production could be significantly higher, up to 7,000 bopd. Whilst the current development concept comprises the installation of a low-cost eight well platform (Echo), we note that Trinity is also w
Companies: Trinity Exploration & Production Plc
European gas prices are never far away from the headlines at the moment, although Parkmead’s results to end-June did not capture this surge in prices – that is yet to come. Parkmead is well placed to benefit from the current strength in European gas prices, while the potential for another commodity super-cycle suggests there is further progress to come on its major GPA oil project. A strong net cash position also puts it in the driving seat for potential acquisitions.
Companies: Parkmead Group PLC
Shanta Gold (AIM: SHG), the East Africa-focused gold producer has today announced a drilling update on its West Kenya Project (WKP) based on its Phase 2 drilling program which aims to infill 17 modelled zones across both Isulu and Bushiangala deposits up to 450-500m below surface. The Company has also reported drilling results from a regional exploration target, Ramula, where assays have been received from the first of 12 holes drilled, as part of the resource drill-out programme, totalling 451m
Companies: Shanta Gold Limited
Savannah Energy’s shares have been suspended since 2 June when it announced the reverse takeover of ExxonMobil’s Chad and Cameroon oil business. Investors have been frustrated by this long suspension but, nevertheless, Savannah has delivered a positive financial and operating update that demonstrates its core Nigerian gas business is performing strongly, with 2P reserves upgraded by 27% and FY21 guidance reiterated. The maximum six-month suspension of the shares comes to an end soon and we shoul
Companies: Savannah Energy Plc
Last week, as part of Diversified's Capital Markets Day, CEO Rusty Hutson and the Diversified senior leadership team provided investors with an in-depth overview of the Company's strategy and operations, with a specific focus on the Company's Environmental, Social and Governance (ESG) initiatives. Some of the key takeaways include US$15m of additional investment from 2022 on emission reduction activities and equipment. Mid-term plans (2023-2026) include plans to curb Scope 1 methane emissions in
Companies: FO 88E DEC EME GTC TRIN UOG WEN
Q3 2021 results
Companies: Arrow Exploration Corp.
Atlantic Lithium* (ALL LN) – Shareholders approve demerger of gold assets
Castillo Copper (CCZ LN) – Extension of options to acquire the Litchfield and Picasso lithium projects
Cornish Lithium (Private) – $18m funding package secured from TechMet
Hochschild (HOC LN) – Shares rise as government appears to back away from closure plans
Hummingbird Resources (HUM LN) – Updated mineral reserves extend Yanoflila LOM and delivers maiden estimate at Kouroussa
Phoenix Copper* (PXC LN) – Deep drilli
Companies: HOC HUM PXC PREM CCZ ALL