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
Savannah provided its interim snapshot yesterday and it is worth pointing out where it has come from and where it is going to, with a catalyst-rich future ahead of it. The Mina do Barroso project remains one of the most advanced spodumene projects in Europe and as such is very well located in terms of market (close to a main end-use market with all the freight savings – cost and carbon – that implies) and available green energy to power production. The project benefits from political support fo
Companies: Savannah Resources Plc
Phoenix copper today provides an operational update with plenty of work streams running in parallel. It continues to make progress on finalising plans for bringing the Empire oxide open pit into production after nearly completing its hydrological studies and finalising plans for a permanent mine office in Mackay – 5 miles from the proposed operation.
Companies: Phoenix Copper Ltd. (United Kingdom)
H1 2021 results
Companies: Jersey Oil & Gas PLC
Central Asia Metals (CAML LN) reported strong interim results as copper, lead and zinc prices extended their gains up 21%, 11% and 12% YTD. H1 2021 revenue of US$101m was up 42% YoY, EBITDA of US$64m was up 52% YoY and the EBITDA margin increased 5pp to 61%. With no significant other charges, net income was up 69% YoY to US$42m. Having marked to market our commodity price assumptions, our estimates are broadly unchanged meaning CAML remains well on track for a record year of earnings underpinned
Companies: Central Asia Metals Plc
Companies: Shanta Gold Limited
£8.5m equity raise at 25p for appraisal drilling
Companies: IOG PLC
No surprises in JOG’s interim results, with the market’s main focus – the company’s GBA Development farm-out process – ongoing. The resurgence of UK North Sea M&A has brought the shares back to life recently as the market is reminded of the scale of the resource and development opportunity JOG is sitting on. While JOG’s main focus remains on securing funding and a partner for its GBA Development, the company has indicated it is reviewing a number of potential acquisitions/mergers. JOG’s strong m
While the Permian was considered as a core region for the group, we believe this transaction makes sense. Given the new strategy, there is indeed a limited interest in keeping short cycle and high cost assets in the portfolio. This might also tell that, by selling the most liquid assets, divesting remains challenging. The good news is that, by distributing most of the proceeds back to the shareholders, Shell does not depend on divestments to fund its transition.
Companies: Royal Dutch Shell Plc Class A
Oil declined amid Russia's plans to boost upcoming overseas oil sales and as the dollar rallied.
Futures in New York ended the session nearly 1% lower on Friday. Russia will increase its oil exports 3% in the fourth quarter, according to Interfax. Meanwhile, gains in the US dollar reduced investor interest in commodities priced in the currency.
Despite weaker prices on Friday, US benchmark crude futures gained more than 3% this week due to tightening supplies. In the US, crude inventories
Companies: FO 88E DEC EME GTC TRIN UOG WEN
Companies: Union Jack Oil Plc
The Wressle oil field, in which Union Jack (UJO) holds a 40% working interest has achieved flow rates of 964 boepd from the primary Ashover Grit reservoir. This has been attained on a restricted choke setting and no formation water has been produced as the well continues to clean up. This is very positive news for UJO given that the reported flow rate exceeds initially forecasted rates by a substantial margin and further operations to increase gas handling capacity could increase hydrocarbon
Jersey Oil & Gas announced its interim results of which we believe the key news items are as follows:
i) The company had a cash balance of £17.06m as at 30 June 2021;
ii) The company indicated its farmout process is ongoing that that the company is engaged with both industry parties and potential infrastructure funders; and
iii) Regional electrification collaboration within the Central North Sea is building momentum amongst industry parties and the GBA is ideally located to be an integral p
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
We are publishing new forecasts and refreshing our view based on the company's recent results including their latest five year plan. Shanta's promising project pipeline means that >100Kozpa gold production is within sight (+62% vs 2021) by 2023 along with >200Kozpa production levels from 2025. AISC falls accordingly from $1371/oz to $568/oz. Assuming a flat $1800/oz gold price over the next two years we are forecasting a 2.5x uplift in EBITDA and near fourfold increase in net earnings. Net cash
Companies: BrandShield Systems plc