PANMURE: Energean : Pawn Stars

AUCTUS ON FRIDAY - 21/06/2024

AUCTUS PUBLICATIONS ________________________________________ Arrow Exploration (AXL LN/CN)C: target price of £0.65 per share: Flow rate of high impact horizontal well above expectations – The first CN Horizontal well (CNB HZ-1) from the Carrizales Norte B pad has been on production since 14 June at a rate of 3,150 bbl/d (~1.6 mbbl/d net) with less than 1% water cut while still recovering load fluid. The flow rate is currently constrained with the ESP operating on the minimum setting. The flow ra

SP Angel Morning Energiser: 20/06/24

Busy day for M&A

AUCTUS ON FRIDAY - 24/05/2024

AUCTUS PUBLICATIONS ________________________________________ Chariot (CHAR LN)C; target price of £0.50 per share: Drilling at the second well onshore Morocco has commenced – Chariot has started to drill the Dartois prospect onshore Morocco. The well is targeting a different reservoir system and trapping style than the Gaufrette prospect. The main target at Dartois is estimated to hold 12 bcf of gross prospective resources. Success would de-risk a total of 20 bcf of gross prospective resources (+

SP Angel Morning Energiser: 23/05/24

European gas prices rise on potential for disruption

SP Angel Morning Energiser: 10/04/24

EIA sees stronger outlook for crude

AUCTUS ON FRIDAY - 15/03/2024

AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; target price of A$1.00 per share: Very high impact exploration well encounters gas and condensate in Austria – The Welchau well (ADX WI: 75%) encountered 115 m of liquids-rich gas shows in the primary target formation (Steinalm Formation) between 1452 m and 1567 m. The deepest gas shows were encountered at a depth of 1645 m. The well has reached TD at 1733 m. The Steinalm Formation intersection in the well is in l

PANMURE: Energean : FY23 results

SP Angel Morning Energiser: 21/03/24

EU natural gas storage still 59% full

PANMURE: Energean : Update to view

Auctus on Friday - 19/01/2024

AUCTUS PUBLICATIONS ________________________________________ GeoPark (GPRK US)C; target price of US$24 per share: Further exploration success in Colombia – The Perico-1 exploration well at CPO-5 encountered hydrocarbons in the Barco (Guadalupe) formation. The well is currently producing 650 bbl/d of 14 deg API oil with 8% water cut. This is an important well that confirms the extension of the Llanos-34 Guadalupe play into CPO-5 and is probably derisking further prospects. This is the fifth disco

SP Angel Morning Energiser: 18/01/24

OPEC reiterates oil demand growth forecasts

PANMURE: Energean : Chariot racing

Auctus on Friday - 08/12/2023

AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; target price of A$0.80 per share: Adding further exploration prospects in FY24 - ADX has farmed out a 50% interest in an exploration area within the ADX AT I licence to MND in return for a A$0.73 mm back costs payment plus A$7.34 mm funding in exploration drilling. The exploration area farmed-out to MND includes the LICHT and IRR gas prospects. These prospects are close to infrastructure and considered low risk. O

SP Angel Morning Energiser: 7/12/23

Brent drops below $75/bbl

Morning Note – 1 July 2024

PANMURE LIBERUM: Commodity snapSHOT: Gold’s rate sensitivity, re-emerges

Metallic Minerals Corp. (TSXV: MMG) – Maiden NI 43-101 MRE at Keno Silver; 2024 Drilling Program Underway

• Metallic Minerals Corp. (TSXV: MMG) (“MMG,” or “Company”) has achieved multiple exploration milestones at its La Plata Copper Project and Keno Silver Project. The Company is now earning royalty monies on alluvial gold claims at its Australia Creek property near Dawson City, Yukon, in the historic Klondike gold district. • Inaugural NI 43-101 MRE at Keno Silver: MMG announced its first NI 43-101 mineral resource estimate at the Keno Silver project from four separate deposits (Formo, Fox,

Oil & Gas - Cavendish sector note

Longboat Energy, Chariot, Empyrean Energy, Coro Energy, PetroMatad, Zephyr Energy, Serica Energy, Jadestone Energy, United Oil & Gas, Angus Energy, Echo Energy, Beacon Energy, Caspian Sunrise, Challenger Energy, Africa Oil Corp, Var Energi, Tamboran Resources. Source: FactSet, weekly change 24/06/2024-28/06/2024 Oil settled little changed after retreating from a nearly two-month high as traders weighed swelling supplies against escalating Middle East tensions. West Texas Intermediate crude fell

Caspian Sunrise - Operational Update

Caspian Sunrise has made the following operational updates this morning: Firstly, Well 155 at the shallow MJF structure has been completed over a 22m interval. 16m of that interval was perforated, from which oil has flowed for three days. The company has stated that oil is now flowing from the well a rate of 900-1000 b/d through a 4.5mm choke. Secondly, the company stated testing at the Deep Well 803 (targeting the Yelemes Deep structure) is ongoing in an unexpected shallower oil bearing h

SP Angel Morning View: Copper demand to rise significantly with shift to cleaner energy sources in India

Anglo American (AAL LN) – Operations suspended at Grosvenor mine, Queenland Ariana Resources (AAU LN) – Completion of merger with Rockover Holdings Bluejay Mining* (JAY LN) – Potential for hydrogen and helium by the Geological Survey of Finland on Outokumpu licenses Bushveld Minerals* (BMN LN) – Orion agrees to provide up to $10m buying Company more time to close on Vanchem disposal and FY23 accounts Caledonia Mining (CMCL LN) – Quarterly dividend maintained Eurasia Mining* (EUA LN) – Tempo

Ariana Resources - Takeover of Rockover Holdings (the Dokwe gold project, Zimbabwe) complete

Ariana announced yesterday that the merger between Rockover Holdings and Ariana has been completed. Ariana has issued 687m new shares (now 1,834m shares now in issue) in Ariana to shareholders in Rockover and will appoint a few key Rockover directors to the board of Ariana. Ariana now owns 100% of the Dokwe gold project in Zimbabwe where the resource has been updated to a Global JORC resource of 56Mt grading 1.0g/t gold for 1.8Moz contained gold.

NextSource Materials | Proposed Saudi Arabian battery anode facility

NextSource has published an important update on its global active anode material strategy which follows hard on the heels of the proposed IFC debt funding for the expansion of the company's Molo graphite mine to 150kt pa. NextSource has released the results of a study on a potential 20kt pa Battery Anode Facility to be built in Saudi Arabia with contemplated expansion to 100kt pa. The initial plant could have an unlevered post-tax net present value of US$677m, using an 8% discount rate, generat

SP Angel Morning View: EV manufacturers rally after upbeat delivery data

Amaroq Minerals (AMRQ LN) – US$35m Revolving Credit Facilities Bezant Resources (BZT LN) – Mankayan project update Chaarat Gold (CGH LN) – Board changes and refinancing update CleanTech Lithium (CTL LN) – Results of Laguna Verde project PFS process plant location study. Endeavour Mining (EDV LN) 1,731p, Mkt Cap £4.1bn – Lafigue commissioning, reports of a cyanide leak at Ity (presumably) Gem Diamonds (GEMD LN) – Eighth large diamond recovered from the Letšeng mine this year Liontown Resour

Small group reserve reduction expected

NextSource Materials - Initiation

NextSource is uniquely positioned to build a leading vertically integrated position, ex China, in the supply of Lithium-ion battery anode material which is essential for the Energy Transition. The company is commissioning phase 1 of its world-class Molo graphite mine in Madagascar and is in the final permitting process for its first Battery Anode Facility (BAF) to be located in Mauritius. The company is backed by Vision Blue, established by Sir Mick Davis, former CEO of Xstrata. On our calculat

PROGRESSIVE: Petro Matad: Placing to fund operational growth

Petro Matad has announced that it is has completed a capital raising providing gross proceeds of approximately US$9m. On top of the US$4.5m cash at the year-end, this will give Petro Matad sufficient funds to grow the business. The immediate task will be to commence the development of the Heron Oil discovery, which will allow the group to start generating cash flows. Management will also look to drill the high-impact Gobi-Bear prospect and invest in its developing renewables business. We believe

SP Angel Morning View:

Anglo Asian Mining* (AAZ LN) – PSA amendments Aston Bay Holdings (BAY CN) - Drilling underway on Storm copper project, Somerset Island American West Metals (AW1 AU) - Drilling underway on Storm copper project, Somerset Island Arkle Resources* (ARK LN) – Drilling at Stonepark, Co Limerick First Class Metals (FCM LN) – Progress report on Ontario exploration First Quantum Minerals (FM CN) – Government to order an environmental audit of Cobre Panama Sovereign Metals* (SVML LN) – Rio Tinto rais

Serica Energy Plc (AIM: SQZ): Operations on track. High net cash.

• 2023 production to date was 43,781 boe/d. very close to our expectations of 44.3 mboe/d. • Production in June at the Bruce Hub of 25,771 boe/d was particularly strong following the recent Light Well Intervention Vessel campaign. This partially offsets the low production in May at the Triton Hub following a trip of a compressor that shut down production for three weeks (the production at Triton has been restored since then). • A 90 day well intervention campaign at Bruce from mid-July is like

Hybridan Small Cap Feast - 3 July 2024

3rd July 2024 * A corporate client of Hybridan LLP ** Arranged by type of listing and date of announcement *** Alphabetically arranged **** Potential means Intention to Float (ITF) has been announced, or it is a rumour Dish of the day Admissions: IntelliAM AI plc (AQSE: INT) has joined the Aquis Stock Exchange Growth Market. IntelliAM, an artificial intelligence company focused on the consumer goods industry, acquired 53 Degrees North Engineering Limited, to become the Company’s Consultancy divi