IMMUPHARMA (LON:IMM)
SECTOR – HEALTHCARE
RATING – BUY*
MARKET CAP – £64m
CURRENT PRICE – 48p#
TARGET PRICE – 171p
COMPANY DESCRIPTION
ImmuPharma PLC is a late clinical stage drug development business specialising in the area of autoimmune disease.
Investor presentation
NORTHLAND VIEW
ImmuPharma will be hosting an Investor Presentation and luncheon immediately following the Company's Annual General Meeting on 30 June 2017 at 11.30am.
ImmuPharma’s flagship drug, Lupuzor—a potential treatment for Lupus—is currently completing a Phase 3 clinical trial which is expected to read-out top line results in Q118. The drug has been looked upon favourably by US regulators, which have deemed it a priority treatment. Should the drug be approved, we estimate it could achieve multi-billion dollar annual sales.
SECTOR – Oil & Gas
RATING – CORP*
MARKET CAP – £4m
CURRENT PRICE – 0.73p#
COMPANY DESCRIPTION
Clontarf Energy is an Oil & Gas Exploration Company with a 3% royalty in Peruvian Block 183 and a 60% interest in the Tano 2A Block located in offshore Ghana.
From Yesterday: Awarded Block 18 in Equatorial Guinea
NORTHLAND VIEW
Clontarf Energy has been awarded Block 18 (EG-18) in the 2017 Equatorial Guinea Bid Round. The Block covers approximately 5,056km2 of undrilled deep water acreage within the Northern Rio Muni Basin.
Clontarf Energy will have a 70% of production interest, with 65% oil cost recovery. The production royalty is a standard 13% that rises to 16% on production over 100,000BOPD and the profits tax is 35%. The contractor interest starts at 80% through the first 40MMbbl, and falls according to a standard formula until output reaches 200MMbbl. Other terms include: a $150,000 signature bonus; standard commerciality and production bonuses; normal land taxes.
The initial work programme is 3 years (extendible) to include seismic acquisition plus one well if drillable targets are identified. The second sub-period is 2 years, with two extensions of one year each accompanied by a work programme.
Clontarf Energy has been awarded acreage in Equatorial Guinea alongside ExxonMobil, Taleveras and Ophir Energy. This is a major development for Clontarf Energy as Block 18 contains a diverse range of Cretaceous sands plays, including distal fan and turbidite channels that are visible on historic seismic data. Clontarf plans to focus on working the large structural and/or stratigraphic trap targets and will finalise the fine details in meetings scheduled with the Equatorial Guinea authorities.