Zephyr Energy PLC’s much-anticipated updated Competent Person’s Report (CPR) highlights the substantial remaining potential of its assets in the Paradox Basin, Utah, Turner Pope Investments said.
“Combining Zephyr’s total Paradox Basin 2P Proved Reserves with those of its existing Williston Basin non-operated portfolio now produces an estimated net present value at a ten per cent discount rate (‘NPV-10’) of over US$111 million (up from zero value ascribed in 2018) with substantial multiples of additional upside potential from success cases related to its contingent and prospective resources,” the research house reported.
Gaming Realms PLC (AIM:GMR, OTCQX:PSDMF) remains a ‘buy’ for Peel Hunt after the release of full-year results that confirmed most of what was in January’s trading update.
The broker said it would not be changing its forecasts following the release of the results but reiterated its view that the online bingo specialist’s medium-term growth potential is undervalued.
Futura Medical PLC (AIM:FUM, OTC:FAMDF) is a buy with its broker Liberum, with important data expected in the second half of the year for its FM71 study.
The study is concerning the efficacy and safety of MED3000, a drug to target erectile disfunction, with its trial application currently ongoing with the US Food and Drug Administration.
Many investors find CentralNic Group PLC (AIM:CNIC) a difficult company to understand, said Berenberg, or are sceptical of the future of the online ‘ad-revenue bonanza’.
But with growth accelerating in the first quarter of 2022, the AIM-listed company is tapped into trends that offer the potential for cash generative growth for several years, the analysts at the company’s house broker said, reiterating a share price target of 250p.
Arrow Exploration Corp (TSX-V:AXL, AIM:AXL, OTC:CSTPF), the Colombia-focused producer, swung to a net income in the year to end-December 2021, compared to a loss in full-year 2020 as the firm realized strong oil and gas prices and lifted output.
Revealing its financial and operating results for the fourth quarter and full year to December 31, 2021, the company also reported its year-end reserves.
Diversified Energy Company PLC (LSE:DEC, OTCQX:DECPF) has acquired a batch of gas-producing assets in East Texas, its fifth purchase in the central region of the US.
The FTSE 250 group will have a 52.5% working interest (WI) in the new wells for contributing 50% or US$50mln of the consideration. Partner Oaktree Capital will assign 5% of its WI to DEC.
Light Science Technologies Holdings PLC (AIM:LST) said it expects demand for indoor and vertical farming products to be boosted by the disruption to agriculture caused by the Ukraine war and supply chain shortages.
The problems will “drive the desire to grow more produce locally, sustainably and energy efficiently”, it said, adding it is well positioned to play its part in tackling these issues.
Galliford Try Holdings PLC (LSE:GFRD) has appointed former Goldman Sachs board member as a new non-executive director, with effect from the start of May.
Sally Boyle will become a member of the audit, remuneration and nomination committees for the UK construction group.
Gaming Realms PLC (AIM:GMR, OTCQX:PSDMF), the mobile-focused gaming content specialist, said it has traded ahead of expectations this year.
Licensing revenue in the first quarter of 2022 rose 43% to £3.0mln from £2.1mln in the corresponding period of 2021, the company said in its full-year results statement covering 2021.
Zephyr Energy PLC (AIM:ZPHR, OTCQB:ZPHRF) has unveiled a new independent review of the Paradox project, in Utah, which sees the company’s first reserves and contingent resources double.
A competent person's report (CPR) authored by consultant Sproule has detailed some 2.1mln barrels oil equivalent of proved and probable (2P) reserves.
NextEnergy Solar Fund Ltd (LSE:NESF) said its first co-located battery storage system will be built at its existing 11MW North Norfolk solar farm.
This will be a 6MW/12MWh battery system, with planning permission already secured and construction expected to begin this year, it said.
Vast Resources PLC (AIM:VAST) said it has agreed on a three-month extension with Atlas Special Opportunities to the settlement date for the first tranche under the Bond Issuance Deed. Settlement is now due 31 July 2022.