ADX Energy (ADX AU) C; Target price of A$0.040 per share: 3Q21 results – 3Q21 production in Austria was 275 boe/d, below our forecasts of ~315 boe/d due to well downtime. A well workover programme has started in October to add 100-150 boe/d. The Anshof-1 exploration well is expected to be spudded in December. An updated reserves report is expected in the coming weeks. The green Energy project is on track and engineering, planning and p
Companies: SOU PPC AXL CHAR DME DEC EQNR IHC LUPE NOG OMV OMV REP REP RDSA TETY TETY I3E ADX AKRBP AKERBP CE1 ENI ENI SEPL
Market update - 26/10/2021
Companies: 88E ANGS I3E
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
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
The current spot prices for Brent crude oil, WTI crude oil and US benchmark natural gas are circa $78/b, $74/b and $5.8/mmbtu, respectively. Natural gas prices in particular have spiked in the context of the acute global energy crisis. We are changing our 2021 and 2022 WTI crude oil price assumptions to $67.5/b and $78.0/b, respectively, up from $65.7/b and $73.0/b. We are changing our 2021 and 2022 US benchmark natural gas price assumptions to $3.95/mmbtu and $4.50/mmbtu, respectively, up from
Market update - 27/09/2021
i3 Energy announced its interim results for the period ended 30 June 2021. Reported production of 9,095 boe/d was marginally better than what we had modelled, 8,950 boe/d, and resulted in free cash flow generation of £2.2M, marginally better than what we had modelled, £1.9M. We were surprised by the strength of the dividend i3 Energy announced in respect of 1H 2021 of 0.2p/sh or £2.2M – a clear statement by the board that the return of cash to shareholders will be a priority.
Calima Energy (CE1 AU)C; Target of A$0.75 per share: Brooks drilling update – The average of the four well program, over their respective 30-day initial production rates, was 176 boe/d (75% oil) per well. There was a significant variation in production results between the 4 wells. The variability was consistent with the results since Blackspur started drilling the Sunburst in 2014 and the average production of the four wells was close
Companies: XOM XOM CNE CNE CE1 DNO DNO GENL HUR I3E JSE TETY TETY
i3 Energy announced that its first two Marten Hills Clearwater wells (drilled in late July) have cleaned-up and are now flowing sales volumes at a combined gross rate of 238 b/d of oil (50% I3E). The company also indicated that production from its Wapiti acquisition (completed on 20 July 2021), after recompletion work, is 171 boe/d greater than expected (now running at 471 boe/d). The company also announced that at Wapiti the company's participation in 2 wells that will be brought onstream short
Market update - 09/09/2021
Companies: BLOE JSE I3E
We are providing the market with our first complete set of financial statement projections for i3 Energy since the company entered Canada and are using the opportunity to provide background on the i3 Energy investment opportunity. i3 Energy's actual financial and operational results are almost certain to show more production growth, investment and cashflow than we have modelled, given we have assumed only announced drilling/remediation work, workovers to maintain base production at current level
While we were away….
….Joiners 5 new ones over last 3 weeks:
Yooma Wellness Inc (AQSE: YOOM), a global vertically integrated wellness platform that develops and markets a portfolio of CBD and wellness brands, announces it has joined the AQSE Growth Market. Yooma, together with its European deal coordinator, Chrystal Capital Partners LLP, have raised gross proceeds of GBP7.5m , at a price of C$0.90 (£0.5232) per share. Lorne Abony, Chairman of Yooma, said: "Yooma's listing on the AQSE provides
Companies: AXS ARE B90 I3E MSYS ORR SEN SUR SNX VAST
Market update - 23/08/2021
Research Tree provides access to ongoing research coverage, media content and regulatory news on i3 Energy Plc.
We currently have 162 research reports from 6
Jubilee today announce the full year results for FY 2021 ending in June 21. It was a year of continued progress with revenues up 143% to £133m (from FY 2020), adjusted PBT up 324% to £52m and eps up 93% to 1.8p/sh – an extraordinary year – but still only the beginning of the progression in our view. Continued developments in South Africa have led to a fully flexible chrome and chrome tailings solution at Inyoni. Supply from a wide variety of sources (Run-Of-Mine, new tailings from own operati
Companies: Jubilee Metals Group PLC
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
Savannah today announces that it is amicably terminating its JV arrangement with Rio Tinto over the Mutamba Minerals Sands project in Mozambique. Savannah has been paid $9.5m (which translates into 0.4p/sh) in cash to relinquish the 20% it has earned in the project and will cease all activity in country. All staff will transfer to Rio Tinto.
Companies: Savannah Resources Plc
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
No joiners today
No leavers today
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
We initiate coverage of Tungsten West Ltd (“TUN” or “the company”) with a GBp144/sh price target. TUN is focussed on the re-opening of the Hemerdon Tungsten Mine in Devon, UK, which was previously owned and operated by Wolf Minerals (UK) Ltd (“Wolf”). Since acquiring the project in Nov’19, TUN has resolved issues encountered by Wolf and optimised the project further with new revenue streams and technology. In March 2021 TUN produced a Bankable Feasibility Study (“BFS”) for Hemerdon, validated by
Companies: Tungsten West Plc
Cornish Metals has now released the results of 10 drillholes at its continuing exploration programme at United Downs near Camborne. Including two holes drilled on the property by Cornish Lithium the drilling shows up to 5 mineralised structures with a total of twenty-two individual mineralised intercepts.
Even though the area has been mined intermittently between the early 1700s and the late 20th century, the drilling evidence bodes well for the delineation of additional mineral resources wh
Companies: Cornish Metals Inc.
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.
Savannah Resources has sold its interest in the Mozambique mineral sands project (Mutamba) to JV partner Rio Tinto for $9.5m in cash. The payment has already been made to one of Savannah’s UK subsidiaries.
Given Barroso’s importance and capital requirements over the coming months, we view this as very good news. It allows management to dedicate all its time to Barroso and reduces future SAV equity dilution. Despite the strong lithium price and exceptional performance of ASX and TSX lithium sto
Savannah Resources is a hardrock lithium exploration and development company with a 100% interest in the Barroso Lithium Project in the Northern Portugal hosting 27mt at 1.06% Li2O for ~700kt LCE, the largest spodumene lithium resource in Western Europe. Project environmental permitting is currently in progress paving the way for the completion of the Feasibility Study and eventual project financing. The project benefits from the strategic location as Europe rapidly expands it Li-ion batteries a
i(x) Net Zero, the investing company which focusses on Energy Transition and Sustainability in the Built Environment, announces its intention to join AIM. Following Admission, the Company intends to use the net proceeds of the proposed Fundraising to provide development and expansion capital to certain of its investee companies, for future investments in companies that fall primarily within its areas of interest in Energy Transition and Sustainability in the Built Environment and to provide work
Companies: TGN AFC COIN COIN HL/ OMI
Deeside project update
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
No Joiners Today.
No Leavers Today.
What’s cooking in the IPO kitchen?
Public Policy Holding Company, to join AIM. PPHC, through its wholly-owned companies, operates a portfolio of independent firms that offer public affairs, crisis management, lobbying and advocacy services on behalf of corporate, trade association and non-profit client organisations. Mkt Cap and Capital to be raised TBC. Expected admission date Mid Dec.
Libertine to join AIM. Libertine has developed a technolog
Companies: TRAK GAMA AAZ FNTL DPP
Companies: Atlantic Lithium Limited.