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
While we were away….
….Joiners 1 more joiner
Citius Resources Plc (CRES.L), an investment company seeking to acquire a company or project in precious and/or base metals joined the Main Market (Standard) raising £1.12m at 4p.
….Leavers 1 more off
Amiad Water Systems has left AIM.
Enjoy the long weekend. We will resume full service on Tuesday.
What’s cooking in the IPO kitchen?
Blackfinch Renewable European Income Trust plc, a closed-end investment trust established to invest in a diversifi
Companies: AEE BZT D4T4 EAAS EUA IES SCLP TOM WTE VLX
Dish of the day
Dianomi (DNM.L), the provider of native digital advertising services to premium clients in the Financial Services and Business sectors, has joined AIM with an issue price 273p. Primary capital to be raised on admission £5m, Secondary Placing £32m and an anticipated Market Cap £82m. In FY 2020, revenue was £28.43m, representing growth of 58.8% compared to FY19. The majority of the Group's revenue is generated in the Americas (FY20: 76.6 %) followed by EMEA (FY20: 17.0%.), and APA
Companies: DDDD CORA DELT FCRM IME K3C MRL VEL WTE
What’s cooking in the IPO kitchen?
CMO Group PLC, the UK's largest online-only retailer of building materials, announced its intention to seek admission to AIM. The Group currently operates seven specialist websites, Roofingsuperstore.co.uk, Drainagesuperstore.co.uk, Insulationsuperstore.co.uk, Doorsuperstore.co.uk, Tileandfloorsuperstore.co.uk, cmotrade.co.uk and Totaltiles.co.uk. Admission due early July.
Seraphine Group, intends to IPO on the Premium Segment on the Main Market. Seraphine, a
Companies: ALBA DEC FRAN FFWD LOK ORCP RLE RDT TEK WTE
Market update - 09/03/2021
Companies: CNE CNE PTR WTE
Upon Admission to AIM, Nightcap will acquire The London Cocktail Club Limited (the "London Cocktail Club"), which is an
award winning independent operator of ten individually themed cocktail bars in nine London locations and one location in Bristol.
Offer TBC Due mid Jan.
HSS Hire Group, HSS.L transfer from Main to Aim. Mkt Cap c. £70m. Recently raised £52.6m. Leading supplier of
tool and equipment for hire in the United Kingdom and Ireland and has provided equipment hire services in the Uni
Companies: MATD WTE NNN DATA RENX IPX SOLI GTC DEST
Energean Oil & Gas (ENOG): Positive CPR report for offshore Israel | Reabold Resources (RBD LN): Publication of Victoria presentation | Echo Energy PLC (ECHO LN): Resumption of VAT reclaims | Bahamas Petroleum PLC (BPC LN): Perseverance #1 operations remain on track | Westmount Energy (WTE LN): Uncommercial discovery at the Tanager-1 well, offshore Guyana
Companies: ENOG RBD ECHO CEG WTE
Oil posted its first back-to-back weekly loss since April's rout with the end of the summer driving season and concern about OPEC's production compliance weighing on prices.
Futures in New York edged up on Friday, but prices fell 6.1% this week coinciding with a retreat in U.S. equities. Traders are also examining data indicating the United Arab Emirates since July has been regularly exceeding its quota under a deal between the Organization of Petroleum Exporting Countries and its allies.
Companies: XOM HES JSE 88E ADV CAD CHAR ECHO ENOG EME I3E PMG RBD SQZ SOU TLW VGAS WTE PHAR
Deltic Energy (DELT LN): Material uplift in gas volumes – Selene prospect | I3 Energy (I3E LN): i3 successfully raises £30m to fund Gain Energy asset acquisition | Westmount Energy (WTE LN): Rig arrives offshore Guyana ahead of Exxon-operated exploration well
Companies: DELT I3E WTE
Westmount Energy (WTE LN) (not covered): Investment in Cataleya Energy | Westmount Energy (WTE LN) (not covered): Investment in Cataleya Energy | LEKOIL (LEK LN): Agreement with Optimum Petroleum on Ogo | Tullow (TLW LN); REDUCE, £2.00: Termination of farm-in agreement with Total and CNOOC in Uganda
Companies: WTE LEK TLW
Westmount Energy (WTE LN) (not covered): Subscription to raise up to £5.0 mm | Lekoil (LEK LN) (not covered): Acquisition of participating interest in OPL276 in Nigeria | Tlou Energy (TLOU LN) (not covered): Sustained gas flows
Companies: WTE LEK TOU
GeoPark (GPRK US)1 : Discontinuing coverage | Touchstone Exploration (TXP LN/CN)1 ; BUY, £0.25: 1Q19 results | Westmount Energy (WTE LN) (not covered): Transaction in Guyana-Suriname | Great Eastern Energy Corporation (GEEC LN) (not covered): FY results for the year ending 31/03/2019 | IGas Energy (IGAS LN) (not covered): Trading update | Drilling results in West of Shetland in the UK | Lekoil (LEK LN) (not covered): Licence update in Nigeria
Companies: GPRK TXP WTE GEEC IGAS LEK
Stratmin Global Resources RTO of Signature Gold a specialist Australian gold exploration company focused on the exploration and development of large-scale Intrusion Related Gold System. Offer TBA. Due 4 June. Will leave AIM under rule 41.
Companies: ABBY ACT LTG DCD RUR WTI STM WTE VEL NSCI
Research Tree provides access to ongoing research coverage, media content and regulatory news on Westmount Energy Limited.
We currently have 13 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)
Companies: IOG PLC
GBA project update, board & management changes
Companies: Jersey Oil & Gas PLC
Jersey Oil & Gas has announced that it has recomposed its leadership team with immediate effect. Les Thomas, formerly Non-Executive Director, has assumed the role of Non-Executive Chairman. Graham Forbes has been appointed CFO. Richard Smith has been appointed Chief Commercial Officer. Les Thomas and Graham Forbes previously served, respectively, as the CEO (2013-2020) and CFO (2010-2020) for Ithaca Energy. Richard Smith spent ten years in various senior roles also at Ithaca Energy. We believe t
• Current production of 11,775 bbl/d (down from ~14,200 bbl/d in early October) reflects the natural decline and potential completion flow restriction at Well-8H which had IP rate of ~7.7 mbbl/d 2 months ago).
• First oil for Well-9H has been delayed by three weeks to the first week of December due to operational issues and the need to drill a sidetrack. As a result, the 4Q21 production guidance has been reduced from 16.0 16.5 mbbl/d to 12.5-13.5 mbbl/d and the expected average production in Dec
Companies: PetroTal Corp.
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
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
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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
West Newton planning update
Companies: Union Jack Oil 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
Shanta Gold (AIM: SHG), the East Africa-focused gold producer, has today announced an update on its exploration drilling at its New Luika Gold Mine (NLGM) based on activity carried out in Q3 2021. More specifically, the drill results are from the Luika Deposit, Bauhinia Creek (BC) Main, BC East Area 1 and Porcupine South. Importantly, all of today's drill intersections are outside existing mineral reserves and will be incorporated into the next update of the mine plan as the Company continues it
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
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