Market update - 10/08/2021
Companies: GBP JKX TRP UOG MSMN
Mosman Oil & Gas*, BUY, (MSMN LN): Initiation of Coverage | Global Petroleum (GBP LN): Significant upgrade in Prospective Resources, offshore Namibia | Eco (Atlantic) Oil & Gas*, STRONG BUY, (ECO LN): Eco diversifies into European renewables | SDX Energy (SDX LN): Slight curtailment in production guidance, comfortable liquidity position | Premier Oil (PMO LN): Successful farm out of the Tuna PSC, Indonesia
Companies: MSMN GBP EOG SDX HBR
Looking Ahead At The Next Week
Touchstone Exploration (TXP LN): Cascadura Deep-1 well yields material gas discovery, Trinidad | Global Petroleum (GBP LN): 2D seismic acquired for Marula prospect, Namibia
Companies: Touchstone Exploration Inc (TXP:TSE)Global Petroleum Limited (GBP:LON)
President Energy (PPC LN): Positive results at the EVN-x1 exploration well, Argentina | Global Petroleum (GBP LN): FY20 results, farm-out remains key
Companies: President Energy PLC (PPC:LON)Global Petroleum Limited (GBP:LON)
Companies: BOTB PLUS FRP FUM GBP IGAS IDH SEE
Tullow Oil (TLW LN): Trading update, better than expected performance in 1H20 but concerns remain | Seplat Petroleum (SEPL LN): Strong cash conversion despite material drop in revenues | Mosman Oil & Gas* (MSMN LN): Site preparation has commenced at Falcon-1 | Global Petroleum (GBP LN): One-year licence extension agreed offshore Namibia
Companies: TLW SEPL MSMN GBP
Companies: HAYD BOOM IGP FO IPX GBP CRCL BIDS SCHO GAMA
Savannah Petroleum (SAVP LN): Addition of New Customer to Accugas | Global Petroleum (GBP LN):Latest quarterly report – no change | Coro Energy (CORO LN): Termination of Bulu PSC Acquisition
Companies: SAVE CORO GBP
Centaurus Energy (CTA CN) (not covered): 3Q19 results in Argentina | Ecopetrol (EC US) (not covered): Increasing spending in Colombia | i3 Energy (I3E LN)1 ; Speculative Buy, £1.50: Well result at Liberator | Longboat Energy (LBE LN) (not covered): Proposed trading on AIM | Wintershall: Dry well in the Norwegian Sea | Regal Petroleum (RPT LN) (not covered): Potential assets acquisition | Regal Petroleum (RPT LN) (not covered): Potential assets acquisition
Companies: ECOPETL I3E ENW GBP
Interswitch, a Nigeria-based payments firm, has hired advisers to resurrect plans for a stock-market listing in London and Lagos later this year, which may value the financial technology company at $1.3bn to $1.5bn.
Companies: MBT DVO SOG BMN INQO ATM GBP SMS PXS CKT
Amerisur Resources (AMER LN): Discontinuing coverage | lobal Petroleum (GBP LN)1: Speculative Buy, £0.05; Global wins further appeals in Italy | Nostrum Oil & Gas (NOG LN)1,7; Speculative Buy, £2.20: 1Q19 results
Companies: AMER GBP NOG
Interoil Exploration and Production (IOX NO) (not covered): Acquisition in Argentina | Range Resources (RRL LN/RRS AU) (not covered): Results for the quarter ended 31 March 2019 (3Q FY19) | Angus Energy (ANGS LN) (not covered): Equity raise | BP (BP LN) (not covered): 1Q19 results | Equinor (EQNR NO) (not covered): Dry hole in Norway | Repsol (REP SM) (not covered): 1Q19 results | Nostrum Oil & Gas (NOG LN); Speculative Buy, £2.20: 1Q19 update | Regal Petroleum (RPT LN) (not covered): FY18 resul
Companies: IOX RRL ANGS BP/ REP NOG ENW GENL AEX AAOG GBP MXO SEPL
Network International Holdings—Potential Intention to Float— leading enabler of digital commerce across the Middle East and Africa region, operating across over 50 highly underpenetrated payment markets that contain a total population of 1.5 bn. 2018 rev $298m, underlying EBITDA $152m.
Techniplas –global producer and support services company providing highly engineered and technically complex components, making the supply chain to original equipment manufacturers more efficient. FYDec17 rev
Companies: LWRF GBP VELA GCM SYM OMG XLM PPS CEG
Gran Tierra Energy (GTE CN/LN); HOLD, C$4.75: Reports 4Q18 FFO below estimates, updates 2019 guidance | PetroTal (PTAL LN/TAL CN)1; BUY, £0.40: Second production well spudded in Peru | Pan Orient Energy (POE LN) (not covered): Thailand L53-DD4 Well Confirms L53DD Oil Field Extension | ExxonMobil (XOM US) (not covered) finds gas in Cyprus Block 10 | Serinus Energy (SENX LN/CN)1; Speculative Buy, £0.25: TEG Unit Enroute to Moftinu in Romania | Gulf Keystone Petroleum (GKP LN) (not covered): Paymen
Companies: GTE TAL POE XOM SEN GKP AOI GBP RDSA
Research Tree provides access to ongoing research coverage, media content and regulatory news on Global Petroleum Limited.
We currently have 30 research reports from 4
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
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)
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
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
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
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
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
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
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
Q3 2021 results; new Romania drilling planned
Companies: Serinus Energy plc
Companies: Atlantic Lithium Limited.
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.