Africa Oil Corp's (TSX:AOI) second-quarter update showed all its assets performing strongly, said Stifel, albeit impacted during the quarter by a planned 1-month maintenance at Akpo.
“This business continues to generate good free cash; over the next 5 years, we forecast ~$800 million of free cash, which results in an EV payback period of ~6 years.
Investment bank Stifel sees “significant upside” for Chariot Ltd (AIM:CHAR, OTC:OIGLF) shares should Chariot’s Anchois-East well off the shore of Morocco move to investment approval as planned.
Chariot recently raised £5 million in a share sale and another £1.5 million in an oversubscribed offering to support the Anchois project
Panmure Liberum has reaffirmed its buy rating on Zephyr Energy PLC (AIM:ZPHR, OTCQB:ZPHRF), maintaining a target price of 13.5p on the back of several positive developments within the company’s operations, particularly in the Williston Basin and Utah.
The Williston Basin portfolio has shown consistent growth, with production rising to 1,226 boepd in the second quarter of 2024.
Chariot Ltd (AIM:CHAR, OTC:OIGLF) was reaffirmed as a buy stock from Panmure Liberum on Monday with an adjusted price target of 32p from the previous 39 pence.
This revision reflects the dilution following Chariot's recent $9 million fundraising rounds through a placing and open offer.
Chariot Ltd (AIM:CHAR, OTC:OIGLF), the energy firm, confirmed it received nearly double the interest for its latest share sale, allowing the company to raise £1.5 million.
As part of its open offer, the group reported that it received interest for more than 46.2 million shares, amounting to a take-up rate exceeding 197% of the 23.35 million available shares.
Sunda Energy PLC (AIM:SNDA) has entered into an exclusivity agreement with Pacific LNG Operations, a privately-owned Singapore investment firm, to explore potential strategic investment for the Chuditch PSC project.
If secured, the funding will support the drilling of the Chuditch-2 appraisal well, which is expected to commence in early 2025.
Shares in Sunda Energy PLC (AIM:SNDA) surged by 28% following the announcement of an exclusivity agreement with Pacific LNG Operations.
Related to Sunda's Chuditch PSC project in Timor-Leste, the arrangement allows for mutual due diligence toward a potential strategic investment that could fund the planned Chuditch field appraisal well.
HeLIX Exploration PLC (AIM:HEX), a helium exploration and development company, has commenced drilling operations at the Clink #1 well in the Ingomar Dome project area within the Montana Helium Fairway.
The drilling is aimed at testing multiple stacked reservoir targets, including the Amsden, Charles, and Flathead Formations, known for their nitrogen-rich gas deposits.
Pantheon Resources PLC (AIM:PANR, OTCQX:PTHRF) has secured the Nabors 105AC rig to drill the Megrez-1 well in the fourth quarter of 2024.
Siteworks for construction of a gravel pad along the west side of the Dalton Highway are expected to begin in September with the drill rig to be mobilised when these are complete.