Share Talk produces its own Audio Podcasts, Video interviews, Question & Answer articles that cover all sectors of the investment markets. We publish informed discussions with various companies. This includes regular company updates, interviews with the Management teams and information from companies that we believe will offer future shareholder value.
We offer companies a true voice to be able to interact with investors and give transparency to their shareholders and put across their mission statement to current – future investors. We take great pride in our visiting investors.
Zak Mir talks to Oliver Friesen, CEO Golden Metal Resources (LON:GMET)
June 7, 2023 • 12 MIN
Zak Mir talks to Oliver Friesen, CEO of Golden Metal Resources, regarding appointing a Strategic Advisor to the Nevada-focused mineral exploration company, new targets at the flagship Pilot Mountain project, and the USA’s urgent need for critical metals security.
Share Talk Interview: Brian Hall, Executive Chairman, Great Western Mining
April 5, 2023 • 6 MIN
Zak spoke to Brian Hall, Executive Chairman, Great Western Mining Corporation PLC (AIM - GWMO, Euronext Growth - 8GW) about the recent company update, mill construction, 2023 work season, and drilling programme.
ECR Minerals Andrew Scott, Andrew Haythorpe & Adam Jones discuss Creswick and plans for 2023
December 24, 2022 • 21 MIN
ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce updated soil sampling results from the on-going geochemistry exploration on EL006184 at Creswick, Victoria, Australia. These results highlight a potential new parallel gold system within the Dimocks Main Shale (DMS).
Critical Metals, Chief Executive Officer – Russell S. Fryer, Talks to Share Talk
September 18, 2022 • 11 MIN
Russell S. Fryer, Chief Executive Officer of Critical Metals, commented: The company has reached a milestone with the readmission of the Company to trading following the completion of the acquisition of an interest in the Molulu Project. I believe the Molulu Project presents a fantastic opportunity to gain near-term exposure to these critical minerals, the global need for which remains clear.
Jay Cheatham, CEO & Bob Rosenthal, Technical Director of Pantheon Resources (AIM:PANR)
May 7, 2022 • 12 MIN
Tim is joined by the team from Pantheon Resources, which is listed on the AIM market with a market cap that has been hovering around £1b. Jay Cheatham, CEO, and Bob Rosenthal, Technical Director, are here to give an update.
Lift Global Ventures(AQSE:SHR) set for Aquis list on 29th April 2022, having raised over £2 million.
April 15, 2022 • 12 MIN
The company, set to list on the Aquis Stock Exchange Growth Market (AQSE) in London, UK, in late April 2022, is an investor in the financial media and technology space. It intends to hunt in the back garden of the Directors’ experience which runs the gamut of service providers and investment houses on the stock market.
Sapan Ghai, Chief Commercial Officer of Sovereign Metals (LON:SVML) Interview
March 4, 2022 • 15 MIN
Sovereign Commenced trading on AIM (dual-listed on the ASX) back in mid-December 2021, as a relatively new company to the market, Share Talk took the opportunity to speak with Sapan Ghai, Chief Commercial Officer.
With the recent Former Rio Tinto Executive joining the Sovereign Board, the appointment of Joint Corporate Broker, it looks like the company is gearing up for an exciting 2022.
Chief Executive of Caracal Gold (LON:GCAT) Robbie McCrae, Updates on Expansion at Kilimapesa Mine
February 3, 2022 • 3 MIN
Chief executive of Caracal Gold Plc, Robbie McCrae, said: “We are both encouraged and excited to move very quickly to the next phase of development and operational activities at our flagship project, which once completed, will see gold production achieve the targeted levels of approx 24,000oz pa.
Zak Mir, CEO of Lift Global Ventures (LFT: AQSE) Pre – Listing Interview
December 20, 2021 • 14 MIN
Lift Global Ventures plc, led by the well-known stock market commentator, CEO Zak Mir, announced its £1.7m raise with the company, set to list on the Aquis Stock Exchange Growth Market (AQSE) in London, UK, in January 2022
In today interview, Alan Green from Novus Comms speaks with Zak to better understand the rationale behind the new listing and what investors can expect from the management team.
Olivier Mussat, the recently appointed CEO of ATOME Energy Interview
November 22, 2021 • 9 MIN
ATOME Energy, a green hydrogen and ammonia production company and offshoot of President Energy PLC, is due to join the AIM segment of the London Stock Exchange in mid-December.
We spoke to Olivier Mussat, the recently appointed CEO of ATOME Energy, about the company’s planned projects which are situated in Iceland and Paraguay. Both countries were selected as they have available baseload green generated electricity on tap 24/7 and available domestic-end markets with export potential in EU and Mercosur countries.
Bill Brodie Good, CEO & Technical Director of Alien Metals Limited (UFO.L) Interview
November 12, 2021 • 8 MIN
Today we have Bill Brodie Good, CEO & Technical Director of Alien Metals on the Share Talk platform updating shareholders after the announcement stating its Phase 3 drilling programme at the Company’s Hancock Iron Ore project, part of its Hamersley Iron Ore Project, Western Australia, is soon to commence.
Paul Johnson Chief Executive Officer of Power Metal (AIM:POW) Interview
October 15, 2021 • 18 MIN
The CEO highlighted the current market conditions, what the company is doing to address this and what IPO’s due in the near future. Paul goes through the company portfolio, with four spin-offs to come.
The company is valued like a company that has one, two, three assets, rather than the thirteen the company currently holds within its portfolio. Also, let us not forget 75 million shares held by the CEO.
Traders Cafe with Zak Mir: Bulletin Board Heroes, Weekend Edition via Vox Markets
September 12, 2021 • 10 MIN
Zak Mir takes a technical analysis look at some of the most followed small caps on the London market. Today’s selection includes Arkle, Blencowe, Canadian Overseas, Contango, Hurricane, Itaconix, JKX Oil and Gas, Napster, Panthera, Rainbow, Synairgen, Tasty and Trellus.
Barney Gray, Consultant Analyst at Turner Pope update on Zephyr Energy PLC (ZPHR.L)
September 8, 2021 • 8 MIN
Zephyr Energy plc (AIM: ZPHR), the Rocky Mountain oil and gas company focused on responsible resource development, is pleased to provide an update on its non-operated working interests in the Williston Basin, North Dakota, U.S., to announce the acquisition of two additional non-operated near-term production portfolios in the Williston Basin (the “new acquisitions”), and to announce a joint-venture (“JV”) with Purified Resource Partners LLC (“Purified”) related to ongoing non-operated business development efforts.
Traders Cafe with Zak Mir: Bulletin Board Heroes, Saturday 14th August 2021 via Vox Markets
August 15, 2021 • 7 MIN
Zak Mir takes a technical analysis perspective on some of the most followed stocks on the London market. Today’s focus is on the Aquis market looking at Altona, Boanerges, Coinsilium, KR1, Oscillate, NFT, Oberon, Sativa and Valereum.
Traders Cafe with Zak Mir: Bulletin Board Heroes, Friday 6th August 2021 via Vox Markets
August 9, 2021 • 11 MIN
Zak Mir takes a technical look at some of the most followed small caps on the London market. Today’s selection includes Advance Energy, Caspian, Creighton, Chaarat, Equals, Fonix, Jubilee, Metal Tiger, Mkango, Rockfire, Sound Energy, Sportech and Valereum.
Traders Cafe with Zak Mir: Bulletin Board Heroes, Thursday 5th August 2021 via Vox Markets
August 5, 2021 • 8 MIN
Zak Mir takes a technical analysis perspective on some of the most followed small caps. Today’s selection includes Afritin, Asimilar, Eco Atlantic, Chaarat, Global Petroleum, Mkango, Quadrise, SCS, Sabien, and Verditek.
Traders Cafe with Zak Mir: Bulletin Board Heroes, Wednesday 4th August 2021 via Vox Markets
August 4, 2021 • 7 MIN
Zak Mir takes a technical look at some of the most followed small caps on the London market. Today’s selection includes 88 Energy, Advance Energy, Anglesey Mining, Applied Graphene, Cora Gold, Cyanconnode, Mkango, Path, Riverfort, Tern and TekCapital.
Traders Cafe with Zak Mir: Bulletin Board Heroes, Tuesday 3rd August 2021 via Vox Markets
August 3, 2021 • 7 MIN
Zak Mir takes a technical analysis view on some of the most followed small-cap stocks. Today’s selection includes Aeorema, Active Energy, Brandshield, Bradda, Block Energy, Contango, Empyrean, Europa, URU Metals and Zoetic.
Traders Cafe with Zak Mir: Bulletin Board Heroes, Monday 2nd August 2021 via Vox Markets
August 3, 2021 • 10 MIN
Zak Mir takes a charting look at some of the most followed small caps on the London market. Today’s selection includes 88 Energy, Catenae, Caerus, Cora, Deltic, Escape Hunt, Kanobo, Open Orphan, Powerhouse Energy, Saietta, Tower Resources, ThinkSmart, Versarien.
Traders Cafe with Zak Mir: Bulletin Board Heroes, Sunday 1st August 2021 via Vox Markets
August 2, 2021 • 8 MIN
Zak Mir takes a technical analysis perspective on the most consistent small caps of the year to date. Today’s selection includes Galantas, Gattaca, Helium One, National World, PetroNeft, Sareum, Xpediator, Water Intelligence, Warpaint, Zinnwald, Zoo Digital, Zephyr.
Craig Brown, Chief Executive Officer of ECR Minerals plc (ECR.L) Interview
July 3, 2021 • 7 MIN
Victoria, Australia continues to enjoy a gold exploration boom, with continued third-party interest in ECR’s Creswick project in Victoria. Discussions are ongoing with respect to a potential commercial transaction in relation to the Creswick project.
Craig updates on an aggressive drilling programme, the sheer volume of core and data recovered, company finances, these are the questions we asked below.
Bert Monro, CEO of Cora Gold Limited (CORA.L) Interview
June 23, 2021 • 7 MIN
Positive update on its first drill results from the Zone A deposit that confirm good widths and grade in oxide ore, including 29m @ 3.32 g/t Au, representing the fifth set of results from its largest-ever drilling campaign. We took the opportunity to speak with Bert Monro, CEO of Cora Gold as the company looks forward to more results from Zone A & B, & Phase 2 at Selin
Mike Edwards, CEO of Dispersion Holdings PLC (AQSE:DEFI) Interview/Admission to AQSE
May 1, 2021 • 7 MIN
Dispersion Holdings PLC will focus on investments in DeFi, or decentralised finance otherwise known as open finance, a disruptive technology that uses the blockchain and cryptocurrencies to remove financial intermediaries from transactions creating a quicker, cheaper, more efficient and more secure way of providing financial services.
Darin Cooper, COO Charaat Gold Holdings (CGH.L) Interview
April 29, 2021 • 10 MIN
Chaarat (AIM:CGH), the AIM-quoted gold mining Company with an operating mine in Armenia and assets at various stages of development in the Kyrgyz Republic, announces its production and operational results for the quarter ended 31 March 2021 (the "Quarter", "Q1" or the "Period") for its Kapan Mine ("Kapan"), in Armenia and a general corporate update.
David Minchin, CEO of Helium One Global Ltd (HE1.L) Interview
April 18, 2021 • 4 MIN
Helium One Global Ltd (“Helium One”, “we”, “us” or the “Company”) (LSE: HE1) announced that it has raised gross proceeds of £10 million through a subscription and placing (the “Placing” and “Subscription” together the “Fundraise”) by the issue of 100,000,000 Ordinary Shares (the “Fundraise Shares”) at 10p per Fundraise Share (“Issue Price”) with institutional and other investors.
Colin Bird, Executive Chairman, Bezant Resources (BZT.L) Interview.
April 13, 2021 • 9 MIN
Minemba Prospect Kalengwa Copper Project, Zambia
Bezant (AIM: BZT), the copper-gold exploration and development company, is pleased to announce a significant copper intercept in its first drill hole at the Minemba prospect within the Kalengwa exploration project area in Zambia (the " Kalengwa Exploration Project ") in which the Company has a 30% interest and acts as operator.
Ryan Dolder, CEO of Rogue Baron Plc (AQSE: SHNJ) Interview
April 12, 2021 • 8 MIN
London, UK, 12 April 2021 – Rogue Baron Plc (AQSE: SHNJ), a leading company in the premium spirits sector, is pleased to announce that it has appointed the corporate and securities law firm Galanopoulos & Company to act as the Company's US OTC Markets Sponsor. Galanopoulos will work to have the Company's ordinary shares cross-traded on the OTCQB Venture Market ("OTCQB") in the United States. This will be in addition to the existing listing on the AQSE Growth Market in London.
Neil Gregson, Non Executive Director, Danakali Limited (DNK.ASX.L) Interview
March 15, 2021 • 7 MIN
Danakali Limited (ASX: DNK, LSE: DNK) (Danakali, or the Company) is an ASX- and LSE-listed potash company focused on the development of the Colluli Sulphate of Potash Project (Colluli or the Project). The Project is 100% owned by the Colluli Mining Share Company (CMSC), a 50:50 joint venture between Danakali and the Eritrean National Mining Corporation (ENAMCO).
Mike Ingram, Independent Market Strategist - Central Banks, Bonds, Podcast
March 15, 2021 • 10 MIN
An experienced financial market professional and thought leader, with a City career spanning twenty-six years
Appeared in a number of media outlets commenting on various aspects of finance, business and markets, including the BBC, ITN, Channel 4, Sky TV, CNBC, Bloomberg TV, Fox Business, Reuters and ABC. I have also been quoted in publications such as The Financial Times, The Telegraph, The Guardian, The Washington Post and the Wall Street Journal.
Nicholas Lee, Director of Pires Investments PLC (PIRI.L) Interview
March 9, 2021 • 3 MIN
Pires Investments (PIRI.L) Update on investment in the digital assets sector
Pires Investments plc (AIM: PIRI), the investment company focused on next-generation technology, notes that, further to its announcement on 4 March 2021, Argo Blockchain plc (“Argo”) announced on 8 March 2021 that it has raised £26.8 million of new funds, of which it has agreed t
Stephen Murphy Co-Founder, CEO of Prohibition Partners Interview
March 8, 2021 • 7 MIN
Prohibition Partners unlocks the potential of cannabis through data, intelligence and networking. They provide strategic solutions to an international client base of investors, operators, blue-chip companies, FMCG brands and government bodies.
With the legal cannabis industry set to be the next true growth market, and estimated to be worth £2.31 billion by 2024, businesses and investors are in a prime position to capitalise on this first-mover advantage.
David Whelan, CEO of VR Education Holdings (VRE.L) Interview
March 2, 2021 • 8 MIN
VRE is focused on becoming a leading global provider of virtual communications solutions through its proprietary software platform, ENGAGE.
Having signed contracts with 60 clients during 2020, the Group's core focus is on scaling the revenue, client and user base on ENGAGE through three solutions: Virtual Campus, Virtual Office and Virtual Events.
Nicola Foulston, Group CEO of RBG Holdings PLC (RBGP.L) Interview
February 24, 2021 • 6 MIN
RBG Holdings plc (AIM: RBGP), the professional services group, will today host a Capital Markets Day for investors and analysts from 10 a.m. to 12 p.m. The event will be hosted by Group CEO, Nicola Foulston, with presentations from the heads of each of the Group's divisions: Rosenblatt Limited, Convex Capital Limited and LionFish Litigation Finance (UK) Limited, followed by a live Q&A.
Richard Poulden, Chairman & Vinay Gupta, Upper Thames Hldgs (UPPT.AQSE) Interview
February 22, 2021 • 8 MIN
London quoted Upper Thames Holdings plc (AQSE: UPPT) announces today that Mr Vinay Gupta, a leading global figure in the blockchain sector, has joined the Company, in a non-board capacity, as Chairman of the Advisory Committee with immediate effect.
Shishir Poddar, CEO Tirupati Graphite (TGR.L) Successful Trials of Battery Grade Spherical Graphite Interview
February 22, 2021 • 3 MIN
Tirupati Graphite plc, the fully integrated, revenue-generating, specialist graphite producer and graphene developer with operations in Madagascar and India
Is pleased to announce that it has successfully completed trials and tests for the manufacture of battery-grade spherical graphite ('SPG'), used in the anode of lithium-ion batteries ('LiB'), in tandem with a globally recognised German manufacturer of spheroidisation and micronisation equipment, achieving significant results in the end SPG product.
Peter Ruse, Director, Gunsynd PLC (GUN.L) Low6 Update Interview
February 15, 2021 • 10 MIN
Gunsynd Plc (AIM: GUN, AQSE: GUN) is pleased to announce that it has received a shareholder update from its investee company Low6 Limited (“Low6”), a UK based, influencer led, B2B pool betting platform for franchises around the world. Low6 offers a white-label pool betting platform for professional sports franchises.
Howard White, Strategic Advisor to Powerhouse Energy Group PLC (PHE.L) Interview
February 12, 2021 • 13 MIN
About Powerhouse Energy Group plc
Powerhouse, the sustainable hydrogen company, has developed a proprietary process technology - DMG® - which can utilise waste plastic, end-of-life-tyres, and other waste streams to efficiently and economically convert them into syngas from which valuable products such as chemical precursors, hydrogen, electricity and other industrial products may be derived. Powerhouse's technology is one of the world's first proven, distributed, modular, hydrogen from waste (HfW) process.
Brett Boynton, Tectonic Gold plc (TTAU.L) Chief Executive Officer Interview
February 11, 2021 • 8 MIN
Drilling update from MOUNT CASSIDY Project
Tectonic Gold plc (TDIM: TTAU), the specialist Intrusive Related Gold System (“IRGS”) explorer, is pleased to announce further progress of the January 2021 drill program at Mount Cassidy, in Queensland, Australia
Puruvi Poddar, Business & Project Development, Tirupati Graphite (TGR.L) Interview
February 10, 2021 • 4 MIN
REACH Certification to Supply Graphite into EU/EEA
Tirupati Graphite plc, the fully integrated, revenue generative, specialist graphite producer and graphene developer with operations in Madagascar and India, is pleased to announce that its group company Tirupati Speciality Graphite Private Limited (‘TSG’), has been accorded REACH certification for its range of expandable graphite products for marketing and sales into the European Union/ European Economic Area (‘EU/EEA’).
Shishir Poddar, CEO of Tirupati Graphite (TGR.L) Interview
February 8, 2021 • 4 MIN
Shishir Poddar, CEO of Tirupati Graphite, said, "We are already starting to see the fruits of our continued efforts to become a significant supplier to the rapidly growing global flake graphite market, which is being substantially driven by the growth in green applications including electric vehicles, thermal management and flame retardants.
Rob Naylor, incoming CEO Intuitive Investments Group (IIG.L) Interview
February 5, 2021 • 5 MIN
The Company is a newly established investing company, seeking to provide investors with exposure to a portfolio concentrating on fast-growing and/or high potential Life Sciences businesses operating predominantly in the UK, continental Europe and the US, utilising the Board's experience and in particular that of the Chairman, David Evans, to seek to generate capital growth over the long term for shareholders.
David Whelan, CEO of VR Education Holdings (VRE.L) Interview
February 2, 2021 • 8 MIN
VRE is focused on becoming a leading global provider of virtual communications solutions through its proprietary software platform, ENGAGE.
Having signed contracts with 60 clients during 2020, the Group's core focus is on scaling the revenue, client and user base on ENGAGE through three solutions: Virtual Campus, Virtual Office and Virtual Events.
Adam Davidson, CEO of Trident Royalties PLC (TRR.L) Interview
January 19, 2021 • 8 MIN
Trident Royalties Plc (AIM:TRR, FSX:5KV), the growth-focused mining royalty and streaming company, is pleased to provide a technical update for the Lake Rebecca Gold Royalty (the "Royalty") over tenement E28/1610 which hosts the entirety of the million-ounce Lake Rebecca Gold Project ("LakeRebecca" or the "Project"), currently owned and operated by ASX-listed Apollo Consolidated ("Apollo") in Western Australia.
Andrew Bell, Chairman of Red Rock Resources (RRR.L) Interview
December 10, 2020 • 12 MIN
After yesterday market announcement, we spoke with Andrew Bell, we asked, with the geographical sweep in the sense you have a 5 million market cap with three focuses with Australia, Kenya, Democratic Republic of Congo, is the market cap wrong or the assets?
PJ & Abm talk shop, MTR - MOD days, EUA, GGP to Power Metal (POW.L) Interview
November 26, 2020 • 44 MIN
More of an investment company back in the day, how things would change with peoples lives gaining significant financial rewards, some life-changing
Abm who is the founder and MD of share Talk would go to investor shows in London before ST was born, while on his leave from the oil and gas offshore game. Early 2015 their paths would cross and a friendship was formed with the MTR management team.
Chris Jefferies, CEO Dev Clever Holdings (DEV.L) & Ankur Aggarwal, CEO Veative Interview
October 16, 2020 • 12 MIN
Partnership agreement with Veative Labs
Dev Clever, the developer of careers guidance and development platforms, announced that it has signed a partnership agreement with Veative Labs Pte. Ltd. (“Veative”), a leading provider of online and immersive learning modules within the EdTech sector. The partnership will enable the integration, cross-marketing and selling of products and services to provide a compelling careers development and learning programme, in and out of the classroom, on a global basis.
George McDonaugh, Managing Director and Co-Founder of KR1 plc Interview
October 5, 2020 • 17 MIN
Share Talk first came across George and the KR1 team back in early 2017 when we presented our second Investor’s Evening that was held in the Reardon Smith Theatre at the National Museum in Cardiff, hosted by Jeff Smith, and sponsored by Financial Orbit.
We invited them to attend our Manchester investor show in 2018 and have interviewed, highlighted George and the team as they have grown as a presence in the fintech/crypto market space.
This podcast is over seventeen minutes long and George gives a great insight into the companies business model and what the future holds for the sector, investors.
https://www.share-talk.com/george-mcdonaugh-managing-director-and-co-founder-of-kr1-plc-interview/
Richard Lee, International Sales Director, Dev Clever Holdings (DEV.L) Interview
October 5, 2020 • 10 MIN
The post COVID-19 period, namely from March onwards, has seen a massive re-allocation and indeed, migration by investors between the different sectors.
@ZaksTradersCafe
The three big winners have so far been the miners, boosted by soaring precious metals prices, pharma stocks on COVID vaccine hopes, and perhaps best of all, tech stocks. Indeed, the stock market migration to technology has mirrored what has happened in real life with work from home meaning wall to wall online activity, adding to already burgeoning e-sports, social media, and entertainment.
https://www.share-talk.com/richard-lee-international-sales-director-dev-clever-holdings-dev-l-interview/
Peter Ruse, Director, Gunsynd PLC (GUN.L) Interview
October 5, 2020 • 12 MIN
Oct 5, 12:08 PM
Gunsynd Plc (AIM: GUN, AQSE: GUN) announced Angold Resources Ltd - Capital Raising, Federal Gold Corp. (to be renamed Angold Resources Ltd subject to completion of a reverse takeover.
In this in-depth podcast, Peter explains the companies thoughts covering recent market updates and gives investors an overview of the company.
https://www.share-talk.com/peter-ruse-director-gunsynd-plc-gun-l-interview/
Adam Habib, President of Amur Minerals (AMC.L) Interview
October 1, 2020 • 6 MIN
There will doubtless be times when stock market investors wished that their portfolios only consisted of companies with solid cash flow, a clear corporate strategy and management that has the ability to ability to surprise on the upside.
A small mining development company that has sufficient funding to see through the development process of a massive project. The massive project in question is Kun Manie, a nickel-copper sulphide asset in Russia.
In particular, Amur’s $4.67m investment via a Convertible Loan Note in Nathan River Resources (NRR) (who own Roper Bar) carries a 14% coupon. The return on this should amount to quite a tidy return in terms of bankrolling Amur’s flagship Kun Manie project.
That is not to say that Roper Bar is insignificant in its own right, being a 446m tonne JORC resource. Added plus points are that the project in Australia is set to commence production imminently, and as Amur has a CLN, should things blossom with Roper Bar, it has the option to convert into an equity share and then get paid a dividend.
There is also the maths of Roper Bar to consider: 4-5m tonnes of production annually, at an iron ore price of even $100 a tonne or more, and revenues are pretty substantial at $500m a year. Amur’s 19% share of Roper Bar means it could earn close to $100m per annum.
Perhaps the icing on the cake though is the way that the deal to buy into NRR involved multinational miner Glencore (GLEN), and the process clearly brought Amur closer to the giant company in terms NRR’s offtake agreement being with it.
https://www.share-talk.com/adam-habib-president-of-amur-minerals-amc-l-interview/
Colin Bird, Executive Chairman, Xtract Resources plc (XTR.L) Interview
October 1, 2020 • 7 MIN
There was also knock the ball out of the park good news from Xtract Resources (XTR) as it announced a £1m fundraise, at ostensibly very favourable terms.
The facility can be drawn in stages, or not at all, and is not only unsecured but also free of interest. The company stated that the nature of the financing meant that dilution to shareholders would be minimal. However, the share price remained down – some 11%, as the stock did not have time to readjust after recent persistent bear attacks on the company, and in the run-up to funding news.
Colin Bird, Executive Chairman said : "The ongoing effects of COVID-19 are still unknown. At a personal level it is affecting the health of millions and the personal finances of families worldwide. At a country level no government is coming out of the crisis well and most are now heavily indebted. At the corporate level it has reminded us that the unknown risk is around the corner and it is against this background that the Board has decided to put in place the Facility. The Facility enables the Company to drawdown up to £1 million over the next 12 months in a staged manner with fixed conversion prices at approximately 20%, 35% and 50% premiums to the current share price. The Company is not obliged to make any drawdowns under the Facility, and drawdowns can be used at its discretion to fund the working capital requirements of the Company and its subsidiaries. The Facility arrangement fee will be settled in new Shares representing approximately 1.2 per cent. of the current issued share capital. As a shareholder I prefer to avoid dilution but as Chairman I know part of my role is to ensure that the Company has access to sufficient working capital to develop its projects and this is the reason the Company has undertaken earlier today an equity funding at a narrow discount to the market price and arranged this loan facility as security against prolonged difficult times".
https://www.share-talk.com/colin-bird-executive-chairman-xtract-resources-plc-xtr-l-interview/
Red Rock Resources (RRR.L) Financing to raise £1,000,000 & Future Projects
September 28, 2020 • 6 MIN
Red Rock Resources Plc announces that it has raised £1,000,000 by way of a placing of 125,000,000 new ordinary shares of 0.01 pence each (“Shares”) in the Company at a price of 0.8p per Share with 1 for 1 warrants exercisable at a price of 1.2 pence per Share for thirty months (“March 2023 Warrants”)(together the “Placing”).
12,500,000 March 2023 Warrants will be issued to First Equity Ltd in part payment for its services as Placing Agent.
Andrew Bell, Chairman, comments : “Red Rock is entering a period of intense activity with active exploration due at its recently restored 1.2 million ounce JORC compliant gold resource in Kenya, and the IPO process for its new and highly prospective gold JV business in the Victoria Goldfields of Australia.
The operational work programme planned includes an acceleration of geological work on its copper/cobalt joint ventures in the Congo, alongside the two gold businesses in Kenya and Australia.
The Company will continue to be able to fund a significant part of its operations from existing resources, however this financing enables Red Rock to move immediately to exploit the opportunities we have now developed.”
https://www.share-talk.com/red-rock-resources-rrr-l-financing-to-raise-1000000/
Tim Yeo, Chairman of Powerhouse Enrgy Grp (PHE.L) discussed the Change of Directorate
September 25, 2020 • 8 MIN
Powerhouse Energy Group plc (AIM: PHE), the UK technology company commercialising hydrogen production from waste plastic, announces that after almost three years in the role of Chairman of the Board and a successful fund raise of £5 million, Dr Cameron Davies is handing over the Chair to Tim Yeo, a fellow non-executive director and deputy chair, with immediate effect. Dr Davies will continue to serve shareholders as a non-executive director of the Company.
Tim Yeo, Chairman of Powerhouse, said the following:
"On behalf of the whole Board and all our shareholders I would like to express my warmest thanks to Cameron for his dedication and hard work as Chairman. We are all pleased that we will still have the benefit of his wise counsel as he will continue as a non-executive director.
“I am honoured to be appointed Chairman of Powerhouse as it stands on the threshold of a new era in its history with the initiation of the Protos application of our DMG technology. Our urgent task now is to start building our first commercial-scale plant and bring forward the day when the world can benefit from the huge environmental benefits which our technology will deliver."
https://www.share-talk.com/tim-yeo-chairman-of-powerhouse-enrgy-grp-phe-l-change-of-directorate-podcast/
Share Talk speaks to Craig Moulton, Managing Director of Cobra Resources PLC (COBR.L)
September 24, 2020 • 16 MIN
The company announced Hagtstrom Drilling Equity Agreement expanded from 4,650m to 10,000m of RC Drilling. Hagstrom has also agreed to take 33.34% of this fixed cost as equity. With the drill rigs on site, it looks to be a rich vein of news flow over the coming weeks and months.
Cobra is an exploration and mining company focussed on the evaluation of the Wudinna Gold Project. With 6 tenements covering 1,928sqkm, Wudinna is located in the prime Central Gawler Craton Province (“CGC”) of South Australia.
https://www.share-talk.com/craig-moulton-managing-director-of-cobra-resources-plc-cobr-l-video/
Bert Monro, CEO, Cora Gold Limited (CORA.L) Podcast - Metallurgical Testwork Results
September 24, 2020 • 5 MIN
Cora Gold Limited, the West African focused gold company, is pleased to announce the metallurgical testwork results from oxide samples taken from its Sanankoro Gold Project in Southern Mali ('Sanankoro' or 'the Project').
These results follow on from previous work reported on 21 October 2019. The purpose of this testwork was to advance the previous testwork and assess the impact of reagent consumption, residence time, gravity recovery and grind size.
Bert Monro, CEO, comments "The results from this metallurgical test programme are excellent. A significant proportion of the gold in the Sanankoro ore can be recovered with gravity with over 90% of the remaining gold leaching from the gravity tails within 4 hours. The quick kinetics should reduce the size of the required leach circuit considerably resulting in a capital saving. Further, a significantly reduced cyanide consumption should also have a favourable impact on operating costs. These results will be used in a trade-off between a conventional gravity & CIL flowsheet and heap leach once ongoing column leach testwork is completed. The outcome from the trade-off will be used as the basis of a definitive feasibility study ('DFS') to commence next year."
https://www.share-talk.com/bert-monro-ceo-cora-gold-limited-cora-l-podcast-metallurgical-testwork-results/
Share Talk speaks to Colin Bird, CEO and Investment Manager Tiger Royalties & Investments
September 17, 2020 • 10 MIN
Tiger (AIM: TRF), the royalties and proactive investments Group, is pleased to announce, a 500,000 fundraising.
Fundraising: The Company has raised 500,000 in a non-brokered private placement. The Fundraising comprises a conditional placing of 214,285,714 new Ordinary Shares (the "Placing Shares") for 450,000 at a price of 0.21 pence per Ordinary Share (the "Placing Price") (the "Placing"), and a subscription by Colin Bird and Raju Samtani, Tiger's Executive Chairman and Finance Director, who have invested 20,000 and £30,000 to subscribe for 9,523,810 and 14,285,714 new Ordinary Shares respectively at the Placing Price (the "Subscription Shares") (the "Subscription"), representing 10 per cent. of the total Fundraising amount. Accordingly, following completion of the Fundraising, Mr. Bird will be interested in 30,954,560 Shares, representing approximately 7.3 per cent. of the Company's enlarged share Ordinary capital and Mr Samtani will be interested in 24,153,214 Shares, representing approximately 5.7% per cent. of the Company's enlarged share Ordinary capital.
Colin Bird, Executive Chairman of Tiger, commented :
" Tiger is actively pursuing its stated mission to acquire and develop a portfolio of resource companies with significant shareholding, active participation and royalties. The placing will allow the Directors to continue its activities towards the consummation of a number of opportunities currently under investigation"
https://www.share-talk.com/colin-bird-ceo-and-investment-manager-tiger-royalties-investments/
Share Talk speaks to Simon Paull, Managing Director, Castillo Copper Ltd (CCZ.ASX.L)
September 15, 2020 • 8 MIN
Simon Paull, Managing Director of Castillo Copper, said: "We are delighted to have completed our dual listing on the London Stock Exchange (4 August 2020) a milestone for the Company and one that will help us drive the business forward towards our goal to become a mid-tier copper producer.
Key Projects
The Company's strategy focuses on resource exploration projects that have the potential, through the application of disciplined and structured exploration and analysis, to be progressed towards the development of a mining operation. The dual listing will support the Company's aim to transform the business into a mid-tier copper producer.
The three main projects across Australia and Zambia include:
https://www.share-talk.com/simon-paull-managing-director-castillo-copper-ltd-ccz-asx-l/
Share Talk interviews Colin Bird, Executive Chairman Galileo Resources (GLR.L)
September 15, 2020 • 8 MIN
Share Purchase Agreement re Acquisition of 100% of Africibum Co Pty Ltd's interest in its North East Kalahari Copper Belt project, Botswana.
Colin Bird, Executive Chairman and CEO of Galileo, commented:
"I am very pleased that we have been able to conditionally acquire these licences, which are in an area of high prospectivity in the Kalahari Copper Belt. They are part of the Boseto Copper Project surrounds being 15km from the processing area.
The target areas have already been reconnaissance drilled and copper intercepts have been received. The area known prospectivity is some 14km in length and other areas require geophysics and geochemical work before prospectivity establishment.
The proposed Acquisition of this target completes the Company's Kalahari Copper Belt portfolio and we look forward to exploration in our expanded footprint in the Kalahari Copper Belt which is part of the Northwest Botswana Rift which the USGS in 2015 reported as the world's most prospective area for yet-to-be discovered sediment hosted copper deposits"
https://www.share-talk.com/colin-bird-executive-chairman-galileo-resources-glr-l-podcast/
Share Talk interviews Paul Langworthy, CEO of 7digital Group PLC (7DIG.L)
September 11, 2020 • 9 MIN
7digital (AIM: 7DIG), the global leader in B2B end-to-end digital music solutions, announced that it has signed an initial 12-month contract with Apex Rides Limited (“Apex”).
A cutting-edge high-performance smart bike and in-home fitness platform, to service music for its virtual exercise classes.
In an exclusive partnership with London-based boutique fitness pioneer Boom Cycle, new-to-market Apex provides a full home exercise connected bike and subscription service with live and on-demand interactive classes. With hardware pricing at a fraction of the leading market competitors and premium class content planned to attract and retain customers, Apex’s solution is designed as an accessible alternative for the mainstream market.
Apex is using 7digital’s in-house licensing services to negotiate and finalise rights to millions of premium tracks. Through 7digital’s catalogue and playlisting tool, instructors will have access to fully cleared and compliant music for programming their classes, making it easy to create custom playlists curated by genre, tempo or music theme in line with the emotional connection and spirit of each class. In addition to playlisting and catalogue curation, 7digital will also provide the backend label and publishing reporting.
Paul Langworthy, CEO of 7digital, said: “We are delighted to be partnering with Apex Rides, which has music at the core of its virtual cycling experience, to help drive further growth into the exciting home fitness space. A core pillar of our business strategy centres on the flexibility of our technology, products and services to not only serve established markets but also new and emerging verticals that will create diversified music streaming business models. As this sector heats up, we are proud to provide the end-to-end services that can support innovators such as Apex Rides to forge new frontiers in the fitness market with new formats for music licensing use cases.”
https://www.share-talk.com/paul-langworthy-ceo-of-7digital-group-plc-7dig-l-podcast/
Share Talk speaks with Angus Forrest Chief Executive Officer, Drumz PLC (DRUM.L)
September 8, 2020 • 9 MIN
Further to the change of investing policy approved by shareholders on 30 June 2020, the directors of Drumz (DRUM.L) are pleased to announce that the Company has made its first technology investment in Acuity Risk Management Ltd, (‘Acuity’), which operates an award winning software business specialising in risk management.
Angus Forrest, Chief Executive of Drumz, commented:
“We are delighted to have made this first investment in Acuity. Acuity is an established and well regarded player in the fast growing cybersecurity global market. With the additional expertise Drumz can bring to its investment we are confident that Acuity’s growth over the past year, will be accelerated over the next two to three years to transform its value.”
https://www.share-talk.com/angus-forrest-chief-executive-officer-drumz-plc-drum-l-podcast/
Share Talk interviews Bob Holt OBE, Chairman of Sureserve Group PLC (SUR.L)
September 8, 2020 • 6 MIN
With the share price now sitting at new 4 year highs, an Mkt Cap £81.38M @ZaksTradersCafe caught up with Bob Holt who gives an overview of the company's past history and how they have transformed Sureserve Group performance.
Sureserve plc (formerly Lakehouse plc) is a UK-based asset and energy support services group. It was founded in 1988, with headquarters in Romford, London. In October 2018, it employed around 2,000 staff in 23 UK offices.
The group offered services in regeneration, compliance, energy services, and construction to the housing, education, public and commercial buildings sectors, with a focus on the UK public sector and regulated markets, before disposing of its property services and construction business in August 2018. This company, Lakehouse Contracts, subsequently went into administration and ceased trading in March 2019, owing £27m to 275 creditors
Today Sureserve Group PLC owes the banks no money and is a completely different business.
https://www.share-talk.com/bob-holt-obe-chairman-of-sureserve-group-plc-sur-l-podcast/
Share Talk interviews Colin Bird, Executive Chairman, Xtract Resources plc (XTR.L)
September 8, 2020 • 6 MIN
The Board of Xtract Resources Plc ("Xtract" or the "Company") is pleased to provide information on the outcome of a pitting programme designed to track extensions to the Eureka copper-gold deposit on small scale mining licence number 22134-HQ-SML (" Eureka Licence") located in the Central part of The Republic of Zambia ("Eureka Project").
Colin Bird, Executive Chairman said: "This exploration pitting programme has produced a pleasing result, with high grade sample results in Pits EX-P1 to EX-P4 to the northwest of the historic open pit confirming historic copper soil anomalies on the axis of the previously established mineralisation. The programme certainly gives us confidence regarding our immediate goal of a small-scale copper producing operation. The system is open ended, and there is potential to identify a larger discovery.
Our intention is now to prepare for a drill programme to identify a mineral deposit of sufficient capacity to support a 7-year open pit mine life, whilst drilling outlying holes to test for more significant extensions. "
https://www.share-talk.com/colin-bird-executive-chairman-xtract-resources-plc-xtr-l-podcast/
Share Talk interviews Bill Brodie Good, Technical Director of Alien Metals (UFO.L)
September 6, 2020 • 12 MIN
On Friday we spoke with Bill Brodie Good, Technical Director of Alien Metals after they announced that it has conditionally raised £1,250,000, before expenses, in a Placing and Subscription of 227,272,727 new ordinary shares of no-par value (“Placing Shares”) at a price of 0.55 pence per share (the “Issue Price”) (the “Placing”).
The proceeds from the Placing are earmarked for a range of exploration activities across the Company’s portfolio, with immediate programmes to commence both in Mexico and Western Australia, subject to any Covid-19 related restrictions.
https://www.share-talk.com/bill-brodie-good-technical-director-of-alien-metals-ufo-l-podcast/
Bulletin Board Heroes, USA Penny Stocks, 2nd September 2020
September 3, 2020 • 8 MIN
Zak Mir highlights USA Penny Stock Chart breakers and gives an overview of the fundamentals in this NYSE, NASDAQ video charting update.
AMC Entertainment Holdings, Inc. (AMC)
Baudax Bio, Inc. (BXRX)
CounterPath Corporation (CPAH)
Core Molding Technologies, Inc. (CMT)
Entasis Therapeutics Holdings Inc. (ETTX)
NanoViricides, Inc. (NNVC)
Nemaura Medical Inc. (NMRD)
Renren Inc. (RENN)
TSR, Inc. (TSRI)
Urban One, Inc. (UONE)
Zakmir.com is a purely journalistic website – Zak Mir is a member of the National Union of Journalists. There is no intention here of providing financial advice. It is recommended you seek an independent professional opinion before deciding whether or not to take any action with regard to anything written here
https://www.share-talk.com/bulletin-board-heroes-usa-penny-stocks-2nd-september-2020/
Bulletin Board Heroes, USA Penny Stocks, 31st August 2020
August 31, 2020 • 9 MIN
Zak Mir highlights USA Penny Stock Chart breakers and gives an overview of the fundamentals in this NYSE, NASDAQ video charting update.
Capricor Therapeutics, Inc. (CAPR)
Chiasma, Inc. (CHMA)
Evolus, Inc. (EOLS)
Evogene Ltd. (EVGN)
FlexShopper, Inc. (FPAY)
Greenlane Holdings, Inc. (GNLN)
Genworth Financial, Inc. (GNW)
GameStop Corp. (GME)
Kindred Biosciences, Inc. (KIN)
Neuronetics, Inc. (STIM)
ViewRay, Inc. (VRAY)
Zakmir.com is a purely journalistic website – Zak Mir is a member of the National Union of Journalists. There is no intention here of providing financial advice. It is recommended you seek an independent professional opinion before deciding whether or not to take any action with regard to anything written here
https://www.share-talk.com/bulletin-board-heroes-usa-penny-stocks-31st-august-2020/
Share Talk interviews Craig Brown, Chief Executive Officer of ECR Minerals plc (ECR.L) Q&A
August 28, 2020 • 8 MIN
ECR Minerals plc (LON: ECR), the gold exploration and development company focussed on Australia, and we had the pleasure to catch up with the CEO, Craig Brown.
In this interview, Craig gives some background information on ECR Minerals and how the company is progressing. Importantly for us here at Share Talk, we give YOU the shareholders a chance to ask the questions that are important to you and we thank Craig for answering as many as possible, not scripted, real Q&A.
Share Talk Interviews Adam Habib, Advisor to the board of Amur Minerals Corp (AMC.L)
August 26, 2020 • 7 MIN
Gunsynd Plc (AIM: GUN, AQSE: GUN) is pleased to announce an update on its investment in Rincon Resources Pty Ltd ("Rincon"), an Australian gold and base metals exploration company. Gunsynd had previously announced in June 2020 that it had invested AUD$250,000 (approximately GBP138,000) in Rincon representing approximately 28% of the issued share capital of Rincon at the time.
The board of Rincon has now provided an update to its shareholders relating to operations across its three project areas in Western Australia, and a corporate update detailing its plans to list on the Australian Securities Exchange (ASX).
Peter Ruse, Gunsynd PLC Director, commented: "Gunsynd is excited to update shareholders on its investment in Rincon. We are delighted with Rincon's decision to engage PAC Partners Securities Pty Ltd and Ironside Capital Limited Pty to lead the proposed IPO on ASX. We look forward to supporting Rincon, where possible, in the future as it continues its progress to delineate fieldwork programs at South Telfer, Laverton and Kiwirrkurra."
https://www.share-talk.com/peter-ruse-director-gunsynd-plc-gun-l-podcast/
Share Talk Interviews Peter Ruse, Director, Gunsynd PLC (GUN.L) Podcast
August 26, 2020 • 7 MIN
Gunsynd Plc (AIM: GUN, AQSE: GUN) is pleased to announce an update on its investment in Rincon Resources Pty Ltd ("Rincon"), an Australian gold and base metals exploration company. Gunsynd had previously announced in June 2020 that it had invested AUD$250,000 (approximately GBP138,000) in Rincon representing approximately 28% of the issued share capital of Rincon at the time.
The board of Rincon has now provided an update to its shareholders relating to operations across its three project areas in Western Australia, and a corporate update detailing its plans to list on the Australian Securities Exchange (ASX).
Peter Ruse, Gunsynd PLC Director, commented: "Gunsynd is excited to update shareholders on its investment in Rincon. We are delighted with Rincon's decision to engage PAC Partners Securities Pty Ltd and Ironside Capital Limited Pty to lead the proposed IPO on ASX. We look forward to supporting Rincon, where possible, in the future as it continues its progress to delineate fieldwork programs at South Telfer, Laverton and Kiwirrkurra."
https://www.share-talk.com/peter-ruse-director-gunsynd-plc-gun-l-podcast/
Share Talk Interviews Alistair Muir, CEO of Edenville Energy PLC (EDL.L)
August 26, 2020 • 5 MIN
Sales and Marketing Agreement entered into with Strategic Partner, Anchor Tenancy of up to 5,000 tonnes per month confirmed, Commenting, CEO of Edenville Alistair Muir, said:
"I am delighted to confirm this third and final contract is now in place and brings to conclusion the restructuring of our Tanzanian operations. We believe these agreements will collectively address the previous challenges, particularly in mining, processing and sales, that Edenville has experienced in recent years.
Feedback from ILTL and MarTek has been encouraging with respect to the appetite for Rukwa coal and all parties are now focused on adding to the order book, which has been underpinned by the anchor tenancy and MarTek's purchase price.
Whilst concluding all three agreements has taken longer than envisaged as a result of the COVID-19 pandemic, we are excited to have now reached this point. Mining and processing is underway again at Rukwa and I look forward to providing our shareholders with further updates in due course.
https://www.share-talk.com/alistair-muir-ceo-of-edenville-energy-plc-edl-l-podcast/
Share Talk Interviews David Brown, Founder of payroll finance group, Hi55 Ventures
August 25, 2020 • 9 MIN
Welcome to the next generation of trade finance. Ground-breaking payroll finance and time processing system. Hi will give your business a new source of working capital by transforming the way time and pay are tracked, viewed and verified. For the first time ever, time itself can now be financed.
A unique way to release working Capital by externally financing your payroll without adding debt to your balance sheet. At the same time, Hi-Pay makes pay to employees more accurate, efficient and frequent. Through our technology, Hi-Pay enables businesses to defer payroll and pay employees weekly, releasing working capital and giving swifter access to earned income for workers.
Hi-View lets your business view and verify time across the entire enterprise, allowing employees to see what they earn as they earn it, and providing a platform for employee/employer collaboration. Hi-View can do all of this, while seamlessly integrating with your existing payroll and timekeeping systems.
https://www.share-talk.com/david-brown-founder-of-the-payroll-finance-group-hi55-ventures-podcast/
Share Talk Interviews Alessandro Zamboni, Founder & Chief Executive Officer Supply@Me Capital (SYME.L)
August 25, 2020 • 12 MIN
We speak with SYME founder and Chief Executive Officer Alessandro Zamboni, about the rise in the current share price, was he surprised and what does the future hold for the company short term.
MOU signed with leading Middle East Investment Company for first Supply@ME pilot in the region
Part of planned rollout of Inventory Monetisation platform in the Middle East
Alessandro Zamboni, Chief Executive, Supply@Me Capital PLC, commented, "We're very excited to have an opportunity to work closely with iMass and Mr Almass in the UAE. Bringing such financial services professionals and their extensive network of business connections and local knowledge into partnership with us should give SYME the opportunity to launch and scale-up well in this region.
The results of the joint analysis were very positive and we hope that the initial pilot scheme, by the end of Q1 2021, will bring favourable results. The UAE has a proven track record of investing in fintech initiatives to support the real economy and we are very pleased to be part of that trend."
https://www.share-talk.com/alessandro-zamboni-founder-chief-executive-officer-supplyme-capital-syme-l-podcast/
Share Talk Interviews Roger Jackson, Executive Director, NQ Minerals Plc (AQSE:NQMI)
August 25, 2020 • 5 MIN
Rich Hellyer Mine Underground Potential Highlighted
Exploration to Resume for High-Grade Base Metal-Gold deposits at Hellyer Mine after 10-Year Hiatus
NQ Minerals Plc (AQSE:NQMI, OTCQB:NQMLF, US ADR OTCQB:NQMIY) (“NQ” or the “Company”) announces that it plans to break a 10-year hiatus in exploration work at its highly prospective Hellyer Project, located in the Mt Read Volcanic Belt; a geological terrain in NW Tasmanian renowned for large scale and high-grade polymetallic (copper-lead-zinc-silver-gold) deposits.
Carl Esprey, Executive Director of Contango Holdings (CGO.L) Podcast
August 24, 2020 • 3 MIN
Contango Holdings Plc, the London listed natural resource development company, is pleased to announce that it has signed a Letter of Intent ('LOI') with CoalZim Marketing (Pvt) Limited ('CoalZim') relating to an offtake agreement for coal products produced at the Company's Lubu Coalfield Project in Zimbabwe ('Lubu').
Carl Esprey, Executive Director of Contango Holdings, said: "The delivery of another LOI, within 10 days of securing our first agreement with South Mining, further highlights the strong demand dynamics for our coal products within Zimbabwe. Furthermore, the anticipated pricing of this agreement, being between $100 and $120 per metric tonne of coal delivered to Harare against the forecast extraction and washing and transport cost of circa $30 per metric tonne, provides further support for the potential value of this contract.
https://www.share-talk.com/carl-esprey-executive-director-of-contango-holdings-cgo-l-podcast/
Glen Lewis, Non Executive Director, Oracle Power PLC (ORCP.L) Podcast
August 19, 2020 • 5 MIN
Oracle Power PLC (AIM:ORCP) is pleased to announce that, in line with the Company's investor communication programme, a recording of a shareholder Q&A session with Share Talk.
Oracle Power PLC is an international power and natural resource project developer listed on London’s AIM market.
The Company is focussed on delivering reliable and affordable power in emerging developing markets, unlocking the value of underutilised and undeveloped natural resources to provide energy security and support economic growth and development
Its initial project is the Thar Block VI Project in the Thar desert in the south-east of the Sindh province of Pakistan.
The Thar Project is a 66.1 sq km licence containing 1.4 billion tonnes of coal, where the Company, in tandem with its partners China National Coal Development Company Ltd. (CNCDC) and the private office of His Highness Sheikh Ahmed Bin Dalmook Juma Al Maktoum, is advancing a combined lignite coal mine, a 1,320MW mine mouth power plant and a proposed coal gasification to urea project.
Craig Moulton, Managing Director of Cobra Resources PLC (COBR.L) Podcast
August 17, 2020 • 4 MIN
As this year has unfolded, Cobra has quietly gone about its business and build up the infrastructure and is now be able to progress towards the maiden exploration drilling campaign.
Today the company announced Hagtstrom Drilling Equity Agreement expanded from 4,650m to 10,000m of RC Drilling. Hagstrom has also agreed to take 33.34% of this fixed cost as equity.
The Company will detail its planned exploration programmes later this week, however, a start date of the second week of September has been agreed between the Company and Hagstrom for the initial drilling programme, subject to finalising the drilling contract and mobilisation.
Neill Ricketts, Chief Executive Officer of Versarien PLC (VRS.L) Podcast
August 13, 2020 • 10 MIN
Preliminary Results for the year ended 31 March 2020
Versarien Plc (AIM:VRS), the advanced engineering materials group, is pleased to announce its unaudited results for the year ended 31 March 2020.
We spoke with Neill Ricketts, Chief Executive Officer and here is the list of questions asked.
You have just announced the Company’s prelim results – what are the particular highlights from the period?
Can you provide an update on some of your key partnerships?
Talk us through the financials announced in these results
How has COVID-19 impacted your business?
You have recently announced the launch of graphene-enhanced face masks – what are the benefits of these masks compared to normal masks and how much demand are seeing, beyond the orders already placed?
In June, you were awarded a £5 million Innovate UK loan – how do you indeed to use this?
How are you progressing in China? Have you needed to adapt your strategy given recent events?
Commenting, Neill Ricketts, Chief Executive Officer of Versarien, said:
"Recent times have been dominated by the challenges that the Covid-19 pandemic have presented on a global basis. However, I am pleased to report Versarien has continued to operate throughout and achieved much during lockdown.
Share Talk Interviews Al Sisto, CEO Tern PLC (TERN.L)
August 13, 2020 • 12 MIN
Share Talk's Zak Mir Interviews Al Sisto, CEO Tern PLC (TERN.L) about its Contract Win for Device Authority
Tern Plc (AIM:TERN), the investment company specialising in the Internet of Things ("IoT"), is pleased to announce that its portfolio company, Device Authority ("DA"), has entered into a contract with a value of approximately £200,000 with one of the largest global automotive component and safety technology manufacturers ("the Client"), alongside its Technology Alliance Partner, nCipher.
Tern's CEO Al Sisto said:
"This is an important contract for DA which validates the superiority of its technology and its use in the automotive sector. We are delighted with this contract win with a leading global automotive component and safety technology manufacturer. The current COVID-19 pandemic has accelerated the technology trends that we were already observing in the industrial sector and with increased automation comes a much higher need for best-in-class security solutions. Through our investment in DA, which is partnered with leading players such as nCipher, PTC and Microsoft, Tern is ideally placed to capitalise on this."
Share Talk's Zak Mir interviews Mike Struthers, CEO Empire Metals (EEE.L)
August 13, 2020 • 5 MIN
Share Talk's Zak Mir interviews Mike Struthers, CEO Empire Metals (EEE.L) about its Option and Earn-In to Acquire High-Grade Gold Mining Licence in Western Australia
Empire Metals Limited, the AIM-quoted resource exploration and development company, is delighted to announce that it has entered into an Option Agreement (the 'Option') to acquire a 75% interest in the high-grade Eclipse gold mining licence, located 55km north-east of Kalgoorlie, Western Australia ('Eclipse' or the 'Project') from Philips Exploration Pty Ltd.
Mike Struthers, CEO, said: "This acquisition is a great addition to our portfolio. A large active gold mining lease less than 60km along strike from the Kalgoorlie super pit in a politically stable jurisdiction is a remarkable find for the shareholders.
"As noted previously, the Company has for some time now been working to acquire additional assets outside of its interests in Georgia, and we have been in discussions on a variety of candidate projects. Acquiring a majority interest in Eclipse is a great opportunity to add value to the Company. This project has received very little exploration across most of the licence area, which is remarkable given the very high-grade nature of the mineralisation both at depth and along strike from the shaft that ceased operation in 1910.
"The high-grade mineralisation occurs in a quartz-carbonate vein with an average width of 2.2m. The mineralisation occurs at the intersection of north-west trending volcanics and major north-east faults, and in addition to Eclipse there are two other known points of intersection of these features along the 2.5km of strike, as well as potential for additional nearby gold deposits in parallel features. These will be the focus of the team as we now move quickly to drilling and other evaluation work.
"By entering into an option over the Project we are gaining a foothold in one of the most productive gold regions in Australia, surrounded by a number of major producers. Eclipse has been privately held by one individual for around 30 years. Historical production records have been preserved, and together with recent geophysics and drilling there is now a robust understanding of the gold mineralisation and the potential for significant high-grade gold resource development."
Leon Coetzer, CEO of Jubilee Metals Group (JLP.L) Podcast
August 6, 2020 • 7 MIN
Leon Coetzer, CEO of Jubilee, commented: "This JV Agreement offers tremendous earnings potential for Jubilee. The Project has been a key target for Jubilee to drive the ramp-up in our copper production while we are implementing our previously announced Project Elephant. This transaction complements the already secured large copper resource and will provide us with earnings in the near term. The earnings of this Project is further bolstered when we commence the processing of the 150 million tonnes of tailings secured under Project Elephant, allowing us to expand and fill to capacity, over the long term, our Sable Refinery.
Dr Adam M Hill, Chief Executive Officer of Oncimmune Holdings (ONC.L) Podcast
August 5, 2020 • 7 MIN
Further evidence for the use of the EarlyCDT Lung blood test in lung cancer screening
Dr Adam M Hill, CEO of Oncimmune, said: "Following last week's announcement of the publication of the ECLS trial in the European Respiratory Journal, we are delighted to see these additional abstracts presented online.
"Beyond proving the ability of the EarlyCDT Lung blood test to detect cancer earlier in a screening population, it is also important to assess the negative impacts of using the test in the population, and the costs of implementing the diagnostic. These findings will no doubt assist our ongoing commercial discussions with health authorities in the UK and in other territories, and we look forward to the peer reviewed publications in due course."
Oisin Fanning, CEO of San Leon Energy (SLE.L) Podcast
August 3, 2020 • 5 MIN
San Leon, the independent oil and gas production, development and exploration company focused on Nigeria, announces that it is investing US$15 million in Energy Link Infrastructure (Malta) Limited ("ELI"), the company which owns the Alternative Crude Oil Evacuation System ("ACOES") project. As previously announced, the ACOES is being constructed to provide a dedicated oil export route from the OML 18 asset, comprising a new pipeline from OML 18 and a floating storage and offloading vessel ("FSO"). Once commissioned, the system is expected by Eroton to reduce the downtime and allocated pipeline losses currently associated with the Nembe Creek Trunk Line ("NCTL"), to below 10%. In addition, it is anticipated that the FSO project will improve overall well uptime.
Xtract Resources Plc (XTR.L) Mr Alastair Ford as a Non-executive Director - Podcast
August 2, 2020 • 9 MIN
The Board of Xtract Resources Plc ("Xtract" or the "Company") announced on the 23rd July the appointment of Mr Alastair Ford as a Non-executive Director with immediate effect.
Colin Bird, Executive Chairman said "I am very pleased to welcome Alastair to the Board of Xtract Resources Plc. Alastair has a wide experience of the resource industry from a journalistic and conference management prospective. In gaining that experience, Alastair has met many company officers and reviewed projects from all world. His all-round general resource experience will be an asset to the Company and will provide a balanced view on our activities both current and proposed."
Alastair Ford has spent most of his career as a mining specialist. He began his career as a journalist on the Investors' Chronicle where he was the mining correspondent and was subsequently editor of Minesite.com until 2013. From 2010-2011 Mr Ford served as a non-executive director at Mineral & Financial Investments PLC (formerly known as Hameldon Resources Limited). Mr Ford re-joined Mineral & Financial Investments PLC in July 2012, as Chief Investment Officer and Executive Director, a position he held until 2017. Mr Ford is currently a Mining Affairs Consultant for ProactiveInvestors.com, and a non-executive director at Great Western Mining Corporation PLC.
Bulletin Board Heroes, USA Penny Stocks, 24th July 2020
July 24, 2020 • 6 MIN
Zak Mir highlights USA Penny Stock Chart breakers and gives an overview of the fundamentals in this NYSE, NASDAQ video charting update.
Alimera Sciences, Inc. $ALIM
Arbutus Biopharma Corporation $ABUS
Global Eagle Entertainment Inc. $ENT
Montage Resources Corporation $MR
NuCana plc $NCNA
New Age Beverages Corporation $NBEV
Oncternal Therapeutics, Inc. $ONCT
Southwestern Energy Company $SWN
Zakmir.com (https://zakmir.com/) is a purely journalistic website – Zak Mir is a member of the National Union of Journalists. There is no intention here of providing financial advice. It is recommended you seek an independent professional opinion before deciding whether or not to take any action with regard to anything written here
Stephen Sanderson, Chief Executive, UK Oil & Gas PLC (UKOG.L) Podcast
July 23, 2020 • 9 MIN
Today UK Oil & Gas PLC (London AIM: UKOG) announced that it has signed binding heads of agreement (https://www.share-talk.com/uk-oil-gas-plc-ukog-l-entry-into-turkish-oil-project/#gs.biby4u) with Aladdin Middle East Ltd ("AME"), an independent oil company with 60 years of operational experience in Turkey.
To take a 50% non-operated working interest in the 305 km² Resan Licence ("Licence"). UKOG will take an active technical role in a 5-well oil appraisal and step-out exploration drilling programme, which, Covid and weather permitting, is expected to commence this year.
We took the opportunity to speak with Stephen Sanderson, UKOG's Chief Executive and let him explain today update and what it means for the company.
Bulletin Board Heroes, USA Penny Stock Chart breakers, 20th July 2020
July 20, 2020 • 12 MIN
Zak Mir highlights USA Penny Stock Chart breakers and gives an overview of the fundamentals in this NYSE, NASDAQ video charting update.
Agnico Eagle Mines Limited $AEM
AIM ImmunoTech Inc. $AIM
Alexco Resource Corp. $AXU
Aclaris Therapeutics, Inc. $ACRS
Canaan Inc. $CAN
DPW Holdings, Inc. $DPW
Endeavour Silver Corp. $EXK
IMV Inc. $IMV
Idera Pharmaceuticals, Inc. $IDRA
Lion Financial Group Limited $LGHL
Molecular Data Inc. $MKD
Americas Gold and Silver Corporation $USAS
Zakmir.com (https://zakmir.com/) is a purely journalistic website – Zak Mir is a member of the National Union of Journalists. There is no intention here of providing financial advice. It is recommended you seek an independent professional opinion before deciding whether or not to take any action with regard to anything written here
Bulletin Board Heroes, USA Penny Stock Chart breakers, 17th July 2020
July 17, 2020 • 10 MIN
Zak Mir highlights USA Penny Stock Chart breakers and gives an overview of the fundamentals in this NYSE, NASDAQ video charting update.
Allena Pharmaceuticals, Inc $ALNA
AquaBounty Technologies, Inc. $AQB
Barnes & Noble Education, Inc. $BNED
Checkpoint Therapeutics, Inc. $CKPT
Capricor Therapeutics, Inc. $CAPR
ClearPoint Neuro, Inc. $CLPT
Edison Nation, Inc. $EDNT
aTyr Pharma, Inc. $LIFE
MicroVision, Inc. $MVIS
PhaseBio Pharmaceuticals, Inc. $PHAS
PDS Biotechnology Corporation $PDSB
Unum Therapeutics Inc. $UMRX
Zakmir.com (https://zakmir.com/) is a purely journalistic website – Zak Mir is a member of the National Union of Journalists. There is no intention here of providing financial advice. It is recommended you seek an independent professional opinion before deciding whether or not to take any action with regard to anything written here.
Mick Billing, Executive Chairman of Thor Mining PLC (THR.ASX.L) Podcast
July 17, 2020 • 15 MIN
What a start to July for the Thor team, no less than eight market updates have been released this month. The ones that caught our attention, yesterdays market update, Pilbara Goldfields – Follow up Sampling.
(https://www.share-talk.com/thor-mining-plc-thr-asx-l-pilbara-goldfields-follow-up-sampling/#gs.b0dpib)
The sale of the Spring Hill gold project (https://www.share-talk.com/thor-mining-plc-thr-asx-l-a1-0-million-spring-hill-royalty-sale/#gs.b0dwv6) royalty entitlement, subject to approval from the Australian Government Foreign Investment Review Board (FIRB), to AIM-quoted Trident Royalties Plc: Total consideration of A$1.0 million
Molyhil Tungsten/Molybdenum Project (https://www.share-talk.com/thor-mining-plc-thr-asx-l-molyhill-awarded-major-project-status/#gs.b0h0bj) awarded Major Project Status by Northern Territory Government. Mick Billing, Executive Chairman of Thor Mining, commented: ” We are delighted to have this level of support by the Northern Territory government for Molyhil.”
Bulletin Board Heroes, USA Penny Stock Chart breakers, 16th July 2020
July 16, 2020 • 10 MIN
Zak Mir highlights USA Penny Stock Chart breakers and gives an overview of the fundamentals in this NYSE, NASDAQ charting update.
Boxlight Corporation $BOXL
Chiasma, Inc. $CHME
Digital Ally, Inc. $DGLY
Elevate Credit, Inc. $ELVT
Entasis Therapeutics Holdings Inc. $ETTX
Flexible Solutions International Inc. $FSI
Heat Biologics, Inc. $HTBX
Itau Corpbanca $ITCB
InnerWorkings, Inc. $INWK
Martin Midstream Partners L.P. $MMLP
Oblong Inc. $OBLG
SenesTech, Inc. $SNES
Tiziana Life Sciences PLC $TLSA
Technical Communications Corporation $TCCO
Zakmir.com is a purely journalistic website – Zak Mir is a member of the National Union of Journalists. There is no intention here of providing financial advice. It is recommended you seek an independent professional opinion before deciding whether or not to take any action with regard to anything written here.
Colin Bird, Executive Chairman of Bezant Resources PLC (BZT.L) Podcast
July 15, 2020 • 9 MIN
Colin Bird, Executive Chairman of Bezant, commented :
" This is an exciting potential project for the Company and the more we dig into the archives, it becomes evident that resources quoted were the subject of extensive drilling programmes which gives us added confidence. It is also evident that the contribution of gold has been neglected which in today's times could in our view be quite significant.
We intend to re-evaluate the gold contribution and drill as soon as possible further holes at Gorob-Vendome to test for gold where previous statements suggest that there is either none or very little.
In essence, the project represents the opportunity for revaluation but more importantly gives the scope for further discovery of similar type mineralisation as the tenure contains 150km not yet tested ."
Bulletin Board Heroes, USA Penny Stock Chart breakers, 13th July 2020
July 13, 2020 • 7 MIN
Zak Mir highlights USA Penny Stock Chart breakers and gives an overview of the fundamentals in this NYSE, NASDAQ video charting update.
Sphere 3D Corp $ANY
Altimmune, Inc. $ALT
Aphria Inc $APHA
Fitbit, Inc $FIT
GoPro, Inc. $GPRO
HEXO Corp. $HEXO
MFA Financial, Inc. $MFA
TherapeuticsMD, Inc. $TXMD
Tiziana Life Sciences PLC $TLSA
Zakmir.com (https://zakmir.com/) is a purely journalistic website – Zak Mir is a member of the National Union of Journalists. There is no intention here of providing financial advice. It is recommended you seek an independent professional opinion before deciding whether or not to take any action with regard to anything written here.
Bulletin Board Heroes, USA Penny Stock Chart breakers, 10th July 2020
July 11, 2020 • 7 MIN
Zak Mir highlights USA Penny Stock Chart breakers and gives an overview of the fundamentals in this NYSE, NASDAQ video charting update.
Sphere 3D Corp $ANY
Barnes & Noble Education $BNED
Cheetah Mobile Inc. $CMCM
Gogo Inc. $GOGO
Navios Maritime Acquisition Corp $NNA
Qumu Corporation $QUMU
Tarena International, Inc. $TEDU
The Container Store Group, Inc. $TCS
Unum Therapeutics Inc. $UNUM
YRC Worldwide Inc. $YRCW
Zakmir.com (https://zakmir.com/) is a purely journalistic website – Zak Mir is a member of the National Union of Journalists. There is no intention here of providing financial advice. It is recommended you seek an independent professional opinion before deciding whether or not to take any action with regard to anything written here.
Aidan Bishop, Founding Director, BigDish PLC (DISH.L) Podcast
July 9, 2020 • 8 MIN
We had the pleasure to speak with Aidan from BigDish on the Share Talk platform and he spoke about the company announced this week, Operational Update (https://www.share-talk.com/bigdish-plc-dish-l-operational-update/#gs.acog6b) .
Aidan Bishop, Founding Director, commented:
"It is great news that restaurants are starting to reopen and BigDish is getting back to business in the UK. Over the past few months our tech team has been working very hard in Manila in building what is the beginnings of a Super App, which enables BigDish to offer so much more value to restaurants and consumers alike. I would like to thank the team who amidst so much uncertainty have worked tirelessly and have been willing to sacrifice their salary for the advancement of the business."
Launching a beta version of BigDish-to-GO is an exciting step forward for BigDish and has been well received based on early feedback from our restaurant partners. There will be significant enhancements made to our delivery platform that will be rolled out over the remainder of 2020."
Louis Coetzee, CEO of Kibo Energy (KIBO.L) Podcast Update
July 7, 2020 • 27 MIN
Kibo Energy PLC, the multi-asset, Africa focused, the energy company, announce that it has signed a binding term sheet with an investment consortium consisting of several high net worth entities and individuals, including two of the Company's largest shareholders, for up to £1,000,000.
In today's interview, Louis Coetzee speaks with Charles Gibson (https://www.linkedin.com/in/charlie-gibson-7a0033191/) Director, Sector Head of Mining at Edison Group. (https://www.linkedin.com/company/edison-group-/) This is an in-depth podcast that lasts twenty-seven minutes and gives investors a great overview of the company.
Blue Star Capital (BLU.L) Anthony Fabrizi, CEO & Derek Lew, NED Podcast
July 2, 2020 • 11 MIN
Blue Star Capital plc (AIM: BLU), the investing company with a focus on esports, payments, technology and its applications within media and gaming.
We had the pleasure to speak with both Tony and Derek who joined us all the way from Canada to update investors on the company activity and hear what they have planned for the future.
Here are some on the pointers asked in the interview
Thank you for taking the time to come onto the Sharetalk podcast today. BLU have been putting out lots of news lately, some real headline-grabbing announcements. I’ll start with the most obvious one, David Beckham has decided to invest alongside Blue Star in the ESports team GUILD, this is exciting news for any company, can you give us some details on Guild, why is it such a good investment.
So, Blue Star invested into GUILD before Becks, this brings me nicely onto the next question, the recent £500k raise, was this to enable you to hold onto your 11.7% in GUILD?
The good news hasn’t stopped with GUILD, news from another investment of yours in the same industry, DYNASTY also announced some phenomenal news last week, it has signed a five year exclusive partnership agreement with Malaysia ESports Federation to provide its eSports Portal Management ("EPM") platform to enable effective management and control of the eSports ecosystem within Malaysia. Can you explain to our listeners what this exactly means to Dynasty and ultimately Blue Star?
From one side of the world to the other, your investment earlier this year in mobile gaming company leaf seems to have borne fruit, with the announcement of their dramatic rise in annual turnover. Derek as this is a Canadian listed company and that is where you are calling from, can you give us some insight into this news
And Finally, Your largest investment is in SatoshiPay the blockchain payments business, is this business performing as you would like?
IamFire plc ( AQSE: FIRE) Burns Singh Tennent-Bhohi (CEO & Director)
July 2, 2020 • 16 MIN
New to the Share Talk platform, we take a look at a company whose share price has risen considerably lately. In this interview, Burns talks about the Appointment of Non-Executive Chairman (https://www.nexexchange.com/announcements?newsid=4681270) and gives an overview of the company.
IamFire plc is an investment vehicle listed on the AQSE Growth Market, which is focused on the oil and gas, and base and precious metals sectors.
The Company’s remit is to invest in or acquire a company or assets within these sectors through direct investment, or through acquiring all or part of an existing or newly formed company.
Here are some on the pointers asked in the interview
We are here to talk about your company, Aquis listed IAMFIRE plc that last week raised £500,000 in an oversubscribed placing, which I find very interesting because I haven’t heard of the company and also, Aquis isn’t a well-known exchange, so to be oversubscribed, you must have something impressive to offer investors?
Ok, so that covers of the placing and the investors, what is the strategy behind the business that has attracted such diverse mix of investors?
Right, looks like there could be a move away from the previous strategy, how do you see the next 6 months playing out for IAMFIRE, what are the targets, how are you going to keep the investors satisfied?
We note that you announced the appointment of Marc Bamber as Executive Chairman, can you tell us a little about him and why you chose him?
Finally, the share price has risen over 200% since the announcement last week, do you think that is investors that missed out on the placing trying to get in?
An interview with Nick Leeson, the derivatives trader notorious for bankrupting Barings Bank
July 2, 2020 • 42 MIN
Nick Leeson (https://en.wikipedia.org/wiki/Nick_Leeson) was born in Watford, Hertfordshire and attended Parmiter's School in nearby Garston. Born to working-class parents on a council estate, his father was a self-employed plasterer, his mother a nurse. In this interview, Nick speaks with Doc and talks about his introduction to city life, before going east to Singapore where his final demise took place.
Exclusive interview by @DDS_DocHoliday
(https://twitter.com/DDS_DocHoliday)
In the mid-1980s, Nick Leeson landed a job as a clerk with royal bank Coutts, followed by a string of positions with other banks, ending up at Barings, where he quickly made an impression and was promoted to the trading floor.
Before long, Nick was appointed the manager of a new operation in futures markets on the Singapore Monetary Exchange (SIMEX) and was soon making millions for Barings by betting on the future direction of the Nikkei Index. His bosses back in London, who viewed his large profits with glee, trusted the whizzkid. Leeson and his wife Lisa seemed to have everything: a salary of £50,000 with bonuses of up to £150,000, weekends in exotic places, a smart apartment, frequent parties and to top it all they seemed to be very much in love.
Barings wasn’t aware that it was exposed to any losses because Leeson claimed that he was executing purchase orders on behalf of a client. What the company did not realise, is that it was responsible for the 88888 error account where Leeson hid all of his losses. This account had been set up to cover up a mistake made by an inexperienced team member, which led to a loss of £20,000. Leeson now used this account to cover his own mounting losses.
Oil Man Jim Company Oil & Gas Podcast & Blog, 1st July 2020
July 1, 2020 • 3 MIN
After its recent run, UK Oil & Gas (UKOG) announced the disappointing news on Monday that planning consent had been refused for the Loxley Portland gas appraisal project, then followed through on Tuesday with a hard dose of reality in the form of interim results.
Those who had been buying based upon an organised social media ramp saw the share price back to where it started; those who engaged the rampers to clear the placing stock and warrants had already taken their money. They’re quite open in yesterday’s RNS that "raising funds from equity remains the most prudent and only feasible way to fund projects” so further large placings are certain.
Brighter news from Predator Oil & Gas (PRD), which updated on its forthcoming drill in Morocco. The state of emergency there in response to the COVID-19 pandemic is being extended to 10 July, but the rig remains securely stacked in the country ready for mobilisation when circumstances permit. They’ve also identified a new additional target for the first exploration well.
Louis Coetzee, Executive Chairman of Katoro Gold plc (KAT.L) Podcast
June 29, 2020 • 15 MIN
Katoro Gold PLC (AIM: KAT), the gold and nickel exploration and development company, announced on the 25th June (https://www.share-talk.com/katoro-gold-plc-kat-l-1-1m-raised-in-oversubscribed-placing/#gs.8zhalf) that they has raised £1.1m (gross), through an oversubscribed placing and subscription of new ordinary shares at 1.5 pence per share (the 'Fundraise').
Today we have Louis Coetzee, Executive Chairman of Katoro giving an update to investors about the oversubscribed placing.
Fundraising Rationale:
The recent disposal of the Imweru Gold Project to Lake Victoria Gold Limited ('LVG') has enabled Katoro Gold to focus on its core assets - The Blyvoor Gold Project and The Haneti Polymetallic Project. With both the Blyvoor and Haneti projects at a pivotal moment in their development / commercialisation, our bolstered financial strength now enables the company to accelerate the development strategies for all projects aggressively.
Louis Coetzee, Executive Chairman of Katoro Gold plc commented:
"I am delighted with the support shown from our current shareholders and welcome a number of new high net worth investors to our register. This is indicative of the significant progress Katoro Gold has made over the last 6 months on our strategic base and precious metal portfolio. The Company is particularly pleased that funding in the latest oversubscribed placing was offered directly to the Company, originating from current and new high net worth investors who are eager to see the developing business model gain further traction."
"The board believes that the Katoro projects hold the potential for near term cashflow generation, royalty streaming and tier-one exploration discoveries. The oversubscribed placing, augmented by the proceeds of the recent sale of Imweru, provides Katoro with the ability to drive forward at pace on multiple fronts".
"The Company will provide the market in the near term with further updates related to progress on our core projects."
Craig Brown, Chief Executive Officer of ECR Minerals plc (ECR.L)
June 26, 2020 • 8 MIN
ECR Minerals plc (LON: ECR), the gold exploration and development company focussed on Australia, and we had the pleasure to catch up with the CEO, Craig Brown.
ECR is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd has 100% ownership of the Bailieston and Creswick gold projects in central Victoria, Australia and the Windidda project in the Yilgarn region, Western Australia.
Oisin Fanning, CEO of San Leon Energy PLC (SLE.L) Final Results
June 25, 2020 • 6 MIN
"San Leon is in a strong position, currently sitting with US$36.5 million in cash on our balance sheet. The current environment generates challenges which Eroton is addressing well, but at the same time it provides a huge opportunity for our Company to initiate its next stage of growth. We have the cash resources, technical and managerial capability, and established relations to select our next projects.
Oisin Fanning, CEO, commented:
"OML 18 remains a world class asset and the activities being undertaken by our partners are expected to significantly reduce downtime and losses going forward, benefiting our initial indirect interest of 10.58% in OML 18.
"Our robust financial position, additional significant funds expected to be received in the in the next 18 months, existing and anticipated new projects, are planned to continue to provide continued shareholder returns. We are proud to have distributed US$66.0 million to shareholders in the past 15 months.
"San Leon is very well placed to continue to deliver its strategy in the year ahead and the Board looks forward to updating shareholders on the Company's progress."
Oil Man Jim Company Oil & Gas Podcast & Blog, 24th June 2020
June 24, 2020 • 2 MIN
Interesting first couple of days to the week.
I3 Energy (I3E) announced news which appears to have confused many. Key point is that the warrant and management option strike prices are being reset to the nominal value of I3’s shares (£0.0001/share), which means that the i3 equity is being deemed worthless. The Canadian acquisition and any future North Sea activity therefore is of academic interest only now to existing shareholders. A few well known scammers were pumping I3E recently, trying to get stock away. If you got caught up in this, note the names and be try to be careful next time.
As expected the TomCo (TOM) “short squeeze” ran out of steam and the price has retreated significantly. Next up here will be a new placing. I said on Monday that a placing was certain at Canadian Overseas Petroleum (COPL) too and, lo and behold, one was announced on Tuesday morning. It’s had a good run since it terminated the equity sharing agreement and we’ve seen the same in recent days with UK Oil & Gas (UKOG), which also now is free to move with the convertible loan notes being redeemed. If you learn anything, it should be to avoid like the plague any companies with death spiral type financing
Oil Man Jim Company Oil & Gas Podcast & Blog, 21st June 2020
June 21, 2020 • 7 MIN
Quite a busy week for news. Petrel Resources (PET) announced preliminary results for the year ended 31 December 2019. The Chairman’s statement is a grand read and John Teeling just tells it all frankly as it is. This was a blog favourite last year around 1p and is now nearly 4p, having been many times higher. It could move strongly upwards again with positive Iraq news.
PetroTal (PTAL) announced 2019 year-end financial and operating results, reporting a "difficult trading environment” plus a placing to raise £14 million, which will allow them to continue the development of the Bretana oil field, but at a slower pace. I’ve been warning about this one in the blog all the way down from the 30s. It’s now just over 10p.
88 Energy (88E) declared its XCD Energy takeover offer to be unconditional. This was another blog favourite last year around 0.7p, which ran up over 100% before the drill. But, unless you’re into gambling, remember never to hold for the results of these.
Carl Esprey, Executive Director of Contango Holdings PLC (CGO.L) Shareholder Update
June 18, 2020 • 6 MIN
Admission To Trading & First Day of Dealings
Carl Esprey, Executive Director of Contango Holdings, said: "I am delighted to have successfully brought this asset to market and I am confident that the work conducted on Lubu in recent years will translate to material value for shareholders in the near future.
"The remaining months of 2020 are set to be punctuated with high impact news flow as we look to deliver first production and revenues from Lubu by the end of Q4. Our strategy is centred on providing early cashflows from this, our first asset, and then expanding our production schedules to realise the full value of this +1 billion tonne coal project. I believe this is a message which will resonate with investors as we look to underpin the Company's financial performance with the objective of supporting a dividend policy.
"I look forward to providing further updates in the coming weeks and months as we begin our initial activities readying the site for production, specifically the refurbishment and development of supporting facilities, ground clearance and removal of overburden of the 20-acre area that comprises the initial mining zone within Block B2 of Lubu."
MetalNRG PLC (MNRG.L) Rolf Gerritsen, CEO Talking with Charles Gibson
June 15, 2020 • 17 MIN
In this seventeen-minute interview conducted by Charles Gibson from @Edison_Inv_Res (https://twitter.com/Edison_Inv_Res) they talk about the Company’s 100% owned Gold Ridge project in Arizona, USA. MetalNRG have recently entered into an agreement, the HofT Agreement (https://www.share-talk.com/metalnrg-plc-mnrg-l-business-update/#gs.8nfqgb) , with a UK based, privately owned Oil & Gas operator.
Oil Man Jim Company Oil & Gas Podcast & Blog, 14th June 2020
June 14, 2020 • 7 MIN
Stock market and oil prices gave back some of their recent gains last week, with plenty of uncertainty still remaining on the international macroeconomic front due to virus-related demand concerns.
Domestically, the main issues now are Coronavirus and its economic impact, Brexit and the “no-deal” possibility which will soon come into focus, plus whatever the BLM protests and counter-protests might turn into over a long, hot summer. It all makes for interesting (and potentially dangerous) times.
Moving on, there were a couple of grumbles last weekend regarding the negative coverage of companies. Just to clarify, these blogs and associated podcasts cover the news being issued by the more speculative oil and gas companies each week. Some issue good news, some issue mediocre news, some issue bad news, and some pretend that their bad news is good. It’s different to the other blogs and podcasts because I don’t accept compensation from the companies, so I can say it as it is and I don’t pretend news is exciting or positive when it isn’t. I’m genuinely independent and simply state the truth as I see it. I’m rarely wrong.
I’m sorry if anyone doesn’t like my commentary, but it’s the reality of the news which the companies issue. If you’re looking for solace, there are plenty of other commentators retained by these companies to soothe your financial pain. But you’ll only ever succeed in the markets if you can handle the type of uncomfortable truths that I provide and adjust your approach accordingly.
Osamede Okhomina, Chief Executive Officer of ADM Energy (ADME.L)
June 4, 2020 • 13 MIN
ADM Energy (AIM:ADME) is a natural resources investment company with an existing asset base in Nigeria.
ADM Energy holds a 5% profit interest in the Aje Field, part of OML 113, which covers an area of 858km²offshore Nigeria, and in February 2020 entered into an agreement with EER (Colobos) Nigeria Limited to acquire a further 4.2% profit interest. Aje has multiple oil, gas and gas condensate reservoirs in the Turonian, Cenomanian and Albian sandstones with five wells drilled to date.
ADM Energy is seeking to build on its existing asset base in Nigeria and target other investment opportunities across the West African region in the oil and gas sector with attractive risk-reward profiles such as proven nature of reserves, level of historic investment, established infrastructure, route to early cash flow and exploration upside.
Colin Bird, Executive Chairman of Xtract Resources plc (XTR.L) Podcast
June 2, 2020 • 5 MIN
The Board of Xtract Resources Plc ("Xtract" or the "Company") is pleased to announce that the Company has concluded a conditional Sale and Purchase Agreement (the "Acquisition Agreement" ) to acquire the entire issued share capital of ProsepectOre Ltd ("ProspectOre") for a total consideration of £1.25 million, to be satisfied in new Xtract ordinary shares.
ProspectOre currently owns a 100% interest in the Bushranger Copper-Gold Project, located in the Lachlan Fold Belt ("LFB"), New South Wales, Australia's world-class copper-gold province. The Lachlan Fold Belt has recently undergone a resurgence in mineral exploration following the discovery of new, large scale, porphyry systems such as Alkane Resources Limited Boda discovery which add to the existing mineral endowment of the LFB due to mines such as Newcrest's giant Cadia-Ridgeway operation.
Oil Man Jim Company Oil & Gas Podcast & Blog, 31st May 2020
May 31, 2020 • 7 MIN
Providence Resources (PVR) announced receipt of the outstanding £200,000 from SpotOn Energy and progress with the farm-out of Barryroe is back on. It’s not clear why PVR needs SpotOn as an intermediary, but the important point is can a deal with a well-financed, larger oil company be done. If so, it will be good news for 20% partners, Lansdowne Oil & Gas (LOGP) too.
In other Dublin oil and gas small cap news, Petrel Resources (PET) announced that it is raising £250,000 at 3.25p per share, with the main purpose of advancing its interests in Iraq, where it maintains strong relationships with government officials. I highlighted PET as a favourite several times last year around 1p and it’s now over 4.5p, having been as high as 26.5p.
David Budd, Chief Executive Officer of Genedrive PLC (GDR.L)
May 29, 2020 • 7 MIN
Share Talk caught up with Manchester-based company Genedrive PLC and spoke with David Budd, CEO about the company recent announcement with the development of two coronavirus test, one for central labs, hospital use and the other for community use.
David Budd, Chief Executive Officer of genedrive plc, said: "The development teams at genedrive and at Cytiva have worked tirelessly over the past 2 months to develop our unique product that has the potential to streamline lab testing, improve quality, and ultimately allow more people to be tested. CE marking was achieved with performance studies and validations that will also support regulatory applications in other jurisdictions, such as Emergency Use Authorisation with the USA FDA and Emergency Use Assessment and Listing with the WHO. The temperature stable nature of the Genedrive® 96 SARS-CoV-2 kit means we have the potential to easily access these global markets, which are in urgent need of testing efficiency and volume."
Harry Anagnostaras-Adams, Executive Chairman, KEFI Minerals plc (KEFI.L)
May 28, 2020 • 6 MIN
KEFI Minerals (AIM: KEFI), the gold exploration and development company with projects in the Democratic Republic of Ethiopia and the Kingdom of Saudi Arabia, announces that at its General Meeting held earlier today, all resolutions were duly passed.
Hawiah Exploration Update
Commenting, Harry Anagnostaras-Adams, Executive Chairman of KEFI, said:
"We are very pleased with the results to date of the drilling at our copper-gold-zinc-silver discovery at Hawiah in Saudi Arabia. Hawiah already appears to have a more valuable metal content than Tulu Kapi in Ethiopia as we have only drilled the top of the system, which remains open at depth below all zones drilled to date.
"The rapid pace of progress since completing the first drill hole in October 2019 is testament to our excellent team at G&M, managed by KEFI and tightly integrating the specialist personnel contributed by KEFI and our Saudi Arabian partner ARTAR."
KEFI Minerals (AIM: KEFI), the gold exploration and development company with projects in the Federal Democratic Republic of Ethiopia and the Kingdom of Saudi Arabia, is pleased to provide an update on the ongoing exploration programme at the Company's Hawiah exploration project in Saudi Arabia. KEFI's operations in Saudi Arabia are conducted through its 34% owned joint venture company, Gold and Minerals Co. Limited ("G&M"), where KEFI is the operating partner.
G&M has now completed Stage 2 of the Hawiah diamond drilling programme, increasing the number of completed diamond drill holes to 69 since the first drill hole in October 2019.
Copper-zinc-gold-silver sulphide mineralisation has been intercepted in drilling consistently over more than 4km of strike length, with intercepts within the supergene zone of up to 4.4% Copper over a 6m true width interval, including 5.8% Copper over a 3m true width. The results re-affirm the large-scale Volcanic Massive Sulphide ("VMS") style of mineralisation that underlies the +4km long surface gossanous ridgeline. Assays have been received for 59 of the 69 drill holes and confirm the positive progress towards delineating an initial Mineral Resource in accordance with the JORC Code in mid-2020.
Sufficient drilling has now been completed to identify three zones with the following preliminary parameters for potentially mineable massive sulphide lodes, with all zones remaining open at depth
Oil Man Jim Company Oil & Gas Podcast & Blog, 27th May 2020
May 27, 2020 • 4 MIN
I explain exactly how all this works and everything more in the Special Trading Course, plus, most importantly, how you can actually make good money in these markets. There are 10 parts over 10 weeks and I think all will find it useful. There are no other publications of this nature. I’m certain that it will be transformational, so to introduce you to it, you can receive the first part of the trading course for just £1. Read it, see what you think and if it's not for you, you can cancel with the click of a button and pay nothing further.
Oil Man Jim Company Oil & Gas Podcast & Blog, 24th May 2020
May 24, 2020 • 8 MIN
I said last week it wouldn’t be long before 88 Energy (88E) started planning its next drill and they confirmed that on Thursday in their latest operational update.
It could be quite interesting once fully financed. It’s a share, where if you time it right, delivers returns virtually as good as guaranteed (it did an easy 100% last time from the 0.7p placing in the run up to the spud and I highlighted it as a favourite several times in the blog before that run). It's one I've also profited from many times before. Obviously, you never hold for the drill result.
Overall, there’s been a strong recovery for both the oil price and the markets this past week, with confidence returning and money flowing back into shares. It’s all looking much better now than it was a few weeks ago. Some further news:
Kavango Resources (KAV.L) Michael Foster, Chief Executive & Mike Moles, Non-Executive Director
May 19, 2020 • 15 MIN
Nice to have Mike Moles, Non-Executive Director back on the Share Talk podcast and he is joined today by Michael Foster, Chief Executive.
Kavango Resources is a mineral exploration company focused on Botswana. Kavango has been set up by an experienced team of geologists and a geophysicist with a history of exploration discoveries in southern Africa. The focus in Botswana is centred on three projects, which are prospective for copper, nickel and PGE metals.
Oil Man Jim Company Oil & Gas Podcast & Blog, 17th May 2020
May 17, 2020 • 10 MIN
There was some talk last week about "cleaning up AIM” and I suggested perhaps borrowing a few ideas from the United States, who have been dealing with the challenges of regulating micro-cap fraud on a much larger scale, for a much longer period of time.
Adopting certain provisions of their Securities Act would help, in particular, minimum holding periods for shares issued in placings and disclosure of compensation by paid commentators. Another practical way and this approach proved very effective, is when a company announces a new business endeavour and heavy promotion starts off the back of a short news announcement, suspend the shares pending publication by the company of what in the UK would be a new admission document disclosing all information necessary for investors to make an informed investment decision. I’m not aware of any companies to whom this happened in the US ever coming back. Just a few thoughts if anyone was serious about wanting to clean up the market.
Bill Brodie Good, Technical Director of Alien Metals (UFO.L) Interview
May 14, 2020 • 14 MIN
Today we have Bill Brodie Good, Technical Director of Alien Metals talking with Zak Mir about the £275,000, before expenses, raised through a placing of new ordinary shares announcement last Monday.
The proceeds of this Placing will facilitate the planned next stage exploration work in Mexico, including an independent review of all historic work on the Donovan 2 gold and copper targets, an updated underground mapping and sampling program at the San Celso silver project, further to completing a review of recently sourced valuable underground sampling data. This will be followed by initial drilling of prioritised targets within the system.
https://www.share-talk.com/bill-brodie-good-technical-director-of-alien-metals-ufo-l-interview/ (https://www.share-talk.com/bill-brodie-good-technical-director-of-alien-metals-ufo-l-interview/#gs.6ipc56)
Oil Man Jim Company Oil & Gas Podcast & Blog, 13th May 2020
May 13, 2020 • 6 MIN
88 Energy (88E) released it's Bidder's Statement. If you're interested in the finer details of the deal, it's all here: http://clients3.weblink.com.au/pdf/88E/02234339.pdf
As I've said before, expect them to start planning soon for the next big drill, which could be quite interesting once fully financed. It’s a share, where if you time it right, delivers returns virtually as good as guaranteed (it did an easy 100% last time from the 0.7p placing in the run up to the spud and I highlighted it as a favourite several times in the blog before that run). It's one I've also profited from many times before. Obviously, you never hold for the drill result.
Oisin Fanning, CEO of San Leon Energy PLC (SLE.L) Director Dealings Interview
May 11, 2020 • 3 MIN
San Leon, the independent oil and gas production, development and exploration company focussed on Nigeria, announces that it has been notified that Oisin Fanning, Chief Executive, has purchased a total of 98,000,000 ordinary shares at a price of 21.0 pence per share on 07 May 2020.
Following the purchase, Oisin Fanning has an interest of 107,495,864 ordinary shares (23.89 %) in the Company.
San Leon, the independent oil and gas production, development and exploration company focussed on Nigeria
Louis Coetzee, Executive Chairman of Katoro Gold plc (KAT.L) Update
May 10, 2020 • 8 MIN
Katoro Gold plc, the AIM-listed gold and nickel exploration and development company, announces the results of the scoping study in respect of the Company’s Blyvoor near term gold production opportunity.
Katoro seems extremely well positioned in the Gold space with the recently released updated scoping study on Blyvoor, the company’s near term gold production opportunity.
Zak Mir talks with Louis Coetzee, about some of the highlights from the Blyvoor Gold Production JV – Scoping Study Results (https://www.share-talk.com/katoro-gold-plc-kat-l-blyvoor-gold-production-jv-scoping-study-results/#gs.5oklel)
With revenues of close to $1b dollars will catch the eyes and ears of a lot of our listeners, especially with the mention previously of potentially being in production in 18-24 months. Project-level financing negotiations are on-going, those impressive numbers must make company confident of closing a deal?
Oil Man Jim Company Oil & Gas Podcast & Blog, 10th May 2020
May 10, 2020 • 5 MIN
Oil prices have been firming up, making projects more viable now for low-cost operators.
It's still difficult for many, but some can make it work at these levels. More importantly, for those involved in the stock market, it injects confidence and share prices are starting to perform.
AL Sisto, CEO of Tern PLC (TERN.L) talking about the latest company updates
May 8, 2020 • 15 MIN
Commenting on the results, Tern CEO, Al Sisto said: As a proactive investor which backs innovation, it has been very rewarding to see the commercial progress made by our portfolio companies reflected in our net asset value, which has increased during the period.
This rise included a successful Series A fundraise for FundamentalVR, with an outstanding syndicate of new investors we helped solidify at an implied valuation 27% higher than when we took a position in the company just a year earlier.
The positive momentum developed in 2018 continued throughout 2019 with important milestones achieved across our business and the businesses of our principal portfolio companies.
We expanded our Tern team and we again continued to increase turnover and employees within our principal portfolio companies.
Oil Man Jim Company Oil & Gas Podcast & Blog, 6th May 2020
May 6, 2020 • 3 MIN
Oil prices have been firming up, making projects more viable now for low-cost operators. It's still difficult for many, but some can make it work at these levels. More importantly, for those involved in the stock market, it injects confidence and share prices are starting to perform.
Kavango Resources (KAV.L) Director Mike Moles talking about the Kalahari Suture Zone
May 4, 2020 • 14 MIN
Kavango Resources is a mineral exploration company focused on Botswana.
Kavango has been set up by an experienced team of geologists and a geophysicist with a history of exploration discoveries in southern Africa. The focus in Botswana is centred on three projects, which are prospective for copper, nickel and PGE metals.
The Kalahari Suture Zone Project and the Ditau Project cover 12 Prospecting Licences (6,928km2) in the southwest of Botswana. The targets are nickel-copper-PGE deposits associated with a 450km long structural feature thought to extend deep into the earth’s crust.
The Kavango Copper Project in the northwest of the country where Kavango is exploring for mineralisation associated with the extension of the DRC-Zambia Copperbelt.
The strategy of the Company is to repeat the successes of past discoveries through the discovery of world-class deposits and the creation of value-added for the benefit of all shareholders.
The KSZ comprises two distinct mafic-ultramafic complexes of different ages that conform to many of the key features of prospective Ni-Cu-PGE sulfide mineral systems, particularly the geodynamic setting at the margins of a craton, and the association with dyke-sill complexes along major crustal lineaments (pathways) related to Large Igneous Province (LIP) magmatism.
In addition, a number of features (https://www.kavangoresources.com/media/attachments/2020/04/29/mineral-systems-review-of-the-ksz-botswana.pdf) are regarded as prospective for the presence of magmatic sulfides.
Oil Man Jim Company Oil & Gas Podcast & Blog, 3rd May 2020
May 3, 2020 • 8 MIN
I mentioned on Wednesday the number of companies referring to being protected by hedges covering future production and, on the other side of these, the example of airlines who buy fuel forwards.
They’re looking at paying out hundreds of millions now on these hedges, which wouldn’t be a problem if they actually were buying and using an equivalent amount of fuel bought at the new lower market price, since that hedged price was what they were basing all their forward pricing calculations upon. There was some interesting information last week regarding demand in Spain as pipeline CLH is publishing its data and offering a unique view on lockdown impact. Petrol is down 75%, diesel is down 55% and jet-fuel is down a massive 93%. You can see the size of the problem.
Oil Man Jim Company Oil & Gas Podcast & Blog, 29th April 2020
April 29, 2020 • 4 MIN
Regardless of any lockdown, the AIM small cap industry is operating in full swing, with the usual full torrent of news each day.
I'll focus on the more meaningful ones, since the Coronavirus 20% salary deferral by directors announcements are starting to get a little boring.
One interesting point though is the number of companies referring to being protected by hedges covering future production. But think about who is ultimately on the other side of these. One example is airlines who buy fuel forwards.
They’re looking at paying out hundreds of millions now on these hedges, which is going to add even further to their current troubles.
Tiziana Life Sciences (TILS.L) Gabriele Cerrone, Founder & Chairman Interview
April 28, 2020 • 10 MIN
It has been a boom time in the pharmaceutical sector, yesterday Tiziana Life Sciences Files Patent on Combination of Nanoparticle-Actinomycin D with Anti-Interleukin-6 Receptor Monoclonal Antibody for Treatment of Coronaviruses.
Tiziana believes it is possible to potentially combine TZLS-501 (anti-IL6R) with NP-Act D to inhibit viral proliferation and to suppress inflammation in lungs to halt progression of COVID-19-mediated lung damage and death.
Tiziana Life Sciences plc (Nasdaq: TLSA) a biotechnology company focused on innovative therapeutics for inflammatory, autoimmune and infectious diseases, announced that it has filed a provisional patent application on the combination of nanoparticle-Actinomycin D (NP-ACT D) with anti-interleukin-6 receptor monoclonal antibody (anti-IL-6R) as a potential therapy for management of COVID-19 disease.
Mr Cerrone is the Executive Chairman and Co-Founder of Gensignia Life Sciences, Inc., a molecular diagnostics company focused on oncology using microRNA technology; Chairman and Founder of Tiziana Life Sciences plc (AIM: TILS/ NASDAQ:TLSA) an oncology focused therapeutics company; Chairman and Co-Founder of Rasna Therapeutics Limited, a company focused on the development of therapeutics for leukaemias; Co-Founder of ContraVir Pharmaceuticals, Inc. (NASDAQ: CTRV); and founder of BioVitas Capital Ltd.
Oisin Fanning, CEO of San Leon Energy PLC (SLE.L) Podcast - Special Dividend
April 27, 2020 • 4 MIN
Oisin Fanning, Chief Executive Officer, commented: "This special dividend demonstrates the Company's continued commitment to its Capital Distribution Policy, and fulfils the undertaking we made on 30 September 2019 to pay our first dividend.
We are proud to have returned a total of US$66 million (£52 million) to shareholders so far, including the proposed special dividend. We have a very strong cash position with clear visibility on our healthy future income stream.
This has enabled us to propose the special dividend whilst continuing to pursue growth opportunities which are prevalent in the current market. I look forward with confidence to updating shareholders on the Company's growth and progress."
San Leon, the independent oil and gas production, development and exploration company focussed on Nigeria, is pleased to announce that the Board has approved a special dividend of approximately £27 million (US$33 million), or 6 pence per ordinary share.
Oil Man Jim Company Oil & Gas Podcast & Blog, 26th April 2020
April 26, 2020 • 6 MIN
Oil has been trading like a penny share, bagging at one point earlier in the week. For the first time ever, the price even went negative for delivery. It’s being hit from both ends with too much supply and too little demand and the worry is when will conditions stabilise.
Producers are cutting output, but the great unknown of course is the Coronavirus, which countries around the world have attempted to counter with varying degrees of success. It will all stabilise, people will just have to adapt. However that takes time and governments are hesitant to disclose what will be the necessary new rules until the population gradually adjusts. It’s not really about politics (experienced doctors, scientists and civil servants are in charge), the political aspect just impacts the way it’s all presented, which unfortunately in some countries hasn’t been done too well.
Craig Brown, Chief Executive Officer of ECR Minerals plc Interview
April 20, 2020 • 10 MIN
Today ECR Minerals updated the markets with the announcement of the sale by ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd (“MGA”).
Of the licences comprising the Avoca, Moormbool and Timor gold exploration projects (the “Licences”) in Victoria, Australia to Fosterville South Exploration Ltd (“Fosterville South”) for total potential cash consideration of up to A$2.5 million.
Craig Brown, Chief Executive Officer explains in more detail today RNS update and talks about the grades of gold, operations continue on the ground with no issues. Highlights the company portfolio, mineralisation, costs involved, looking for a joint venture partner.
RNS link www.share-talk.com/ecr-minerals-plc-ecr-l-sale-of-exploration-licences-for-cash/ (https://www.share-talk.com/ecr-minerals-plc-ecr-l-sale-of-exploration-licences-for-cash/#gs.3ypabq)
Oil Man Jim Company Oil & Gas Podcast & Blog, 19th April 2020
April 19, 2020 • 6 MIN
Another short week, but an interesting one. Following on from my “success” in predicting the collapse of Block Energy (BLOE), Anglo African Oil & Gas (AAOG) now has come to the end of its life in its current form, losing investors over 99% of their investment. Ironic how I was attacked at the time for explaining what it actually was. I always said the Tilapia field was worthless and the final proof was delivered by the announcement of its sale to Zenith Energy (ZEN) (including a claimed $5.3 million of receivables) for £200,000. The clock now ticks down towards ZEN’s inevitable demise.
Oil Man Jim Company Oil & Gas Podcast & Blog, 15th April 2020
April 15, 2020 • 3 MIN
A short first half of the week, but still some interesting news. Border and Southern Petroleum (BOR) announced final results.
Their farm-out process remains active, although they say progress has been impacted by current industry capital allocation constraints. Cash balance at 31 December 2019 was $3.7 million and administrative expense for the year was $1.45 million. A 25% cost reduction target has been set for 2020, which should enable them to keep going for another three years.
Predator Oil & Gas (PRD) converted £70,000 of the outstanding loan note.
Coro Energy (CORO) and Empyrean Energy (EME) announced a resource upgrade of the Mako Gas Field, but it didn't help their share prices.
Egdon Resources (EDR) also completed a small fundraising, theirs of approximately £500,000.
Nu-Oil and Gas (NUOG) announced a proposed RTO transaction and suspension of trading. Remaining in the same stable, I said at the weekend that last Thursday's litigation funding RNS from Ascent Resources (AST) was just a spoof to entice the defaulting placee to pay up and so it turned out
Oil Man Jim Company Oil & Gas Podcast & Blog, 12th April 2020
April 12, 2020 • 8 MIN
As regular readers and listeners know, I also write a private blog available by subscription, which focusses on my actual trade ideas. Details of that can be found at https://www.oilnewslondon.com/oilman-jim In addition, I’ve now compiled a trading course, which vastly expands on some of the principles I expound in the blogs and podcasts and provides information that most will never have heard before.
Zak Mir interviews Oisin Fanning, CEO of San Leon Energy (LOD:SLE)
April 8, 2020 • 6 MIN
San Leon, the independent oil and gas production, development and exploration company focussed on Nigeria, announced that it has received a Loan Notes payment of US$40 million.
Zak Mir talks with Oisin Fanning, CEO of San Leon about yesterdays RNS update and what the dividend situation would be for shareholders further down the line.
Oil Man Jim Company Oil & Gas Podcast & Blog, 8th April 2020
April 8, 2020 • 6 MIN
After the Chinese debacle which knocked the share price to the floor, Providence Resources (PVR) has now agreed non-binding and non-exclusive heads of terms with the Norwegian company, SpotOn Energy, in relation to the farm out of the Barryroe oil and gas field.
SpotOn has been given a period of exclusivity until 31 October 2020 during which time they will agree an appraisal work programme for the Barryroe field and develop commercial terms with the aim of concluding a binding farm out agreement. As a sign of good faith, they put up £300,000 of a £2.7 million fundraising at 1.5p, which will fund PVR through to April 2021, Barryroe 20% partner, Lansdowne Oil & Gas (LOGP), already being funded through to the end of this year. It's a step forward, but very far from conclusive.
Colin Bird, Executive Chairman of Xtract Resources plc (LON:XTR) Operations Upate
April 3, 2020 • 6 MIN
Zak Mir talks with Colin from Xtract about the drilling update on Eureka and Kajevu Copper Prospects, Zambia announced this week
Eureka Licence is located in the Central part of The Republic of Zambia ("Eureka Project") and copper-gold small scale mining licence number 8370-HQ-SML located at Kajevu, Kasempa, North Western Province in the Republic of Zambia
Colin Bird, Executive Chairman said: "These significant intercepts from the Eureka drilling program are very encouraging and represent some of the better drilling results emerging from new Zambian exploration activities. The presence of gold puts some doubt on the occurrences being traditional copper belt mineralisation with more similarity to the upper Katanga series which is found in Zambia but more common in the DRC. The immediate plan is to identify an oxide resource for short term oxide production, whilst embarking on an exploration programme for a greater target.
The licence area has a number of anomalies not tested by this programme or with similar highly prospective possibilities. Positive results from these areas could lead to a large-scale copper resource. The Kajevu licence appears to be limited in potential and will not be further pursued. We look forward to the conclusion of the rains and, after further modelling, building in the results of this programme and testing other targets."
Oil Man Jim Company Oil & Gas Podcast & Blog, 29th March 2020
March 29, 2020 • 7 MIN
RockRose Energy (RRE) issued an operations update. Cash at close of business on 25 March 2020 was £287 million, of which £248 million was unrestricted
Hurricane Energy (HUR) reconfirmed that it has a strong balance sheet, including $164.3 million of unrestricted cash at 18 March 2020 and is in a strong position to weather this current downturn.
Gulf Keystone Petroleum (GKP) announced an operational and corporate update, confirming that “at current production levels, the Company covers all operating, general and administrative costs and interest payments with a Brent price of around $35 per barrel.”
Bahamas Petroleum Company (BPC) has delayed drilling again. Reality is it doesn’t have the cash and little chance of obtaining it via the convertible loan note route.
Lekoil (LEK) issued a slightly curious announcement that they’re “in the process of making the agreed payment of $2 million for OPL 310 in accordance with the agreement reached and announced by the Company on 21 January 2020.”
Oil Man Jim Company Oil & Gas Podcast & Blog, 22nd March 2020
March 22, 2020 • 6 MIN
The stock market will keep going, though, just as it did all the way through World War II, and the game there will remain the same, as it has through all the changes over the last few hundred years. Just with a larger audience now, since in future most people will be in front of the computer working (or not) from home.
88 Energy (88E) announced drilling of the production hole is to commence imminently. Pantheon Resources (PANR) now have strategically refocussed with Alaska as their primary asset and are looking for a farm out.
Jersey Oil & Gas (JOG) announced it is evaluating with neighbouring field operators a collaborative development of the wider Greater Buchan Area, which contains discovered oil and gas resources in excess of 200 million barrels of oil equivalent.
Rockhopper Exploration (RKH) outlined the impact of the Coronavirus on its operations. In fact, none, and it appears the announcement was really just an excuse to mention that their cash balance is greater than their market capitalisation.
Caspian Sunrise (CASP) decided to suspend all new drilling activities and the Board will defer a significant portion of its salary payments to help bring ongoing costs into line with the income receivable at the reduced world and domestic prices.
https://www.share-talk.com/oil-man-jim-company-oil-gas-podcast-blog-22nd-march-2020/
FTSE 100, Dax, Dow, S&P, WTI Major Market update with Zak Mir
March 18, 2020 • 6 MIN
Zak Mir gives an overview of the fundamentals in this charting update in this special covering the FTSE 100, Dax, Dow, S&P & WTI market charts.
Zakmir.com (https://zakmir.com/) is a purely journalistic website – Zak Mir is a member of the National Union of Journalists. There is no intention here of providing financial advice. It is recommended you seek an independent professional opinion before deciding whether or not to take any action with regard to anything written here.
https://www.share-talk.com/ftse-100-dax-dow-sp-wti-market-update-with-zak-mir/
Oil Man Jim Company Oil & Gas Podcast & Blog, 18th March 2020
March 18, 2020 • 4 MIN
Jersey Oil & Gas (JOG) announced it is evaluating with neighbouring field operators a collaborative development of the wider Greater Buchan Area
Caspian Sunrise (CASP) decided to suspend all new drilling activities and the Board will defer a significant portion of its salary payments to help bring ongoing costs into line with the income receivable
Gulf Keystone Petroleum (GKP) has decided that in view of the impact of Coronavirus on operations, it is "prudent to suspend drilling and certain production facility expansion operations during this time.
Bahamas Petroleum Company (BPC) announced an expansion of the death spiral financing, but it’s all theoretical, since, after an initial small ramp, it went under 2p, the lower limit for conversion.
Egdon Resources (EDR), Europa Oil & Gas (EOG) and Union Jack Oil (UJO) all announced that their Wressle development project has an estimated break-even oil price of $17.62 per barrel.
Angus Energy (ANGS) meanwhile is trying to make a positive out of the recommendation by the Planning Officer to decline the Balcombe Oil Field Planning Application by claiming it will reduce cash outflow during calendar 2020 due to forecast capital expenditures at the site.
Echo Energy (ECHO) admitted that their Santa Cruz Sur assets are not currently cash flow positive and existing cash resources are not sufficient to sustain operations.
Nu-Oil & Gas (NUOG) announced that it’s now willing to take on any business that might give the directors an excuse to raise money and keep paying their salaries.
Oil Man Jim Company Oil & Gas Podcast & Blog, 15th March 2020
March 15, 2020 • 9 MIN
Starting off, RockRose Energy (RRE) was hammered on Monday, "closing the gap" from its last pre-suspension price. On Tuesday, it confirmed it was "debt-free with net cash of £272.1 million (equivalent to £20.75 per share)," more than double the current share price.
Jadestone Energy (JSE) confirmed, "the business is resilient and expected to generate positive operating cash flow in 2020, even at oil prices below $30 a barrel." In a similar vein, Trinity Exploration & Production (TRIN) confirmed their "operating break-even has consistently been below $30 a barrel in all periods since the new management's measures took effect in 2016.”
Caspian Sunrise (CASP) knows all about low oil prices. The current oil price certainly doesn’t look good for Tullow Oil (TLW), though, whose final results disclosed a free cash flow breakeven of around $45 a barrel. Premier Oil (PMO) has a similar problem. With its share price having collapsed from 1.7p last year to 0.3p last week, Reabold Resources (RBD) also jumped on the oil price/market volatility/Coronavirus RNS bandwagon.
Mosman Oil & Gas (MSMN) didn’t miss the opportunity either to blame in advance all the current events for its upcoming bad news.
Oil Man Jim Company Oil & Gas Podcast & Mid-Week Blog, 11th March 2020
March 11, 2020 • 6 MIN
RockRose Energy (RRE) was hammered on Monday, "closing the gap" from its last pre-suspension price.
Jadestone Energy (JSE) issued strong news, confirming "the business is resilient and expected to generate positive operating cashflow in 2020, even at oil prices below US$30/bbl.
Trinity Exploration & Production (TRIN) confirmed their "operating break-even has consistently been below US$30.0/bbl in all periods since the new management's measures took effect in 2016."
South American producer/developer, PetroTal (PTAL), also took a hammering. It's 2020 capital program is based upon $60 oil.
Baron Oil (BOIL) announced the completion of its £2.5 million placing at 0.1p per share
Tower Resources (TRP) managed to get away a £500,000 placing at 0.375p just in the nick of time. Now, lets see if the first farmee provides proof of funds this month and whether the second one signs up.
Solo Oil (SOLO) announced the return of the ONE-Dyas deposit.
Bahamas Petroleum Company (BPC) announced the possible execution of a possible convertible loan note agreement deferred to 15 April, perhaps 15 May.
UK Oil & Gas (UKOG) announced the flow of dry oil to the surface as a result of their water shut off programme.
Egdon Resources (EDR) announced that the subsurface review of their eastern Humber Basin licences has identified a new low-risk near-field exploration opportunity
Union Jack Oil (UJO) has an even larger interest than EDR in these now and announced it's also expecting news during the remainder of Q1 and Q2 in respect of the extended well test at West Newton A-2 Meanwhile, 88 Energy (88E) confirmed the Charlie-1 surface hole is complete to around 3,500 ft.
Oil Man Jim Company Oil & Gas Podcast & Weekend Blog, 8th March 2020
March 8, 2020 • 8 MIN
88 Energy (88E) announced that Charlie-1 appraisal well drilling has commenced. They say they’re "optimistic that success is just around the corner." This is a credible drill since Premier Oil (PMO) has farmed in, and a big one targeting 1.6 billion barrels of oil with 480 million barrels net to 88E. Among the less credible projects, Angus Energy (ANGS) announced a CPR for the Saltfleetby gas field, touting reserves of 16 billion cubic feet of gas which will, they claim, generate total cash flow after costs of approximately £50 million.
Lekoil (LEK) announced the results of their internal investigation into the OPL 310 facility agreement.
SDX Energy (SDX) announced that their play-opening BMK-1 well in Morocco encountered commercial quantities of gas in both target horizons. The rig now moves to drill the potentially play-opening LMS-2 well. Predator Oil & Gas (PRD) also announced the approval of the environmental impact assessment for their upcoming Morocco well. Back to the news, Solo Oil (SOLO) announced a transaction update and restoration of trading.
Nostra Terra Oil & Gas (NTOG) and Zenith Energy (ZEN) issued their announcements. Meanwhile, the ex-Nostra Terra Ewen Ainsworth stepped up, along with the ex-Sound Energy James Parsons, as new directors of Ascent Resources (AST), both having passed the “necessary regulatory due diligence” checks, however low they may be. The merry-go-round of failed AIM company directors continues to turn. On a brighter note, Tower Resources (TRP) announced a Cameroon farm-out update.
Oil Man Jim Company Oil & Gas Podcast & Mid-Week Blog, 4th March 2020
March 4, 2020 • 4 MIN
88 Energy (88E) announced that Charlie-1 appraisal well drilling has commenced. To quote, they are "optimistic that success is just around the corner." This is a credible drill since Premier Oil (PMO) has farmed in, and a big one targeting 1.6 billion barrels of oil and 480 million barrels net to 88E.
SDX Energy (SDX) announced that their play-opening BMK-1 well in Morocco encountered commercial quantities of gas in both target horizons. The rig now moves to drill the potentially play-opening LMS-2 well. Predator Oil & Gas (PRD) also announced the approval of the environmental impact assessment for their upcoming Morocco well.
Solo Oil (SOLO) announced a transaction update and restoration of trading.
Nostra Terra Oil & Gas (NTOG) and Zenith Energy (ZEN) issued news. The NTOG board room drama has been brought to a close with Andy Morrison becoming Chairman and Ewen Ainsworth stepping down. On a brighter note, Tower Resources (TRP) announced a Cameroon farm-out update. Half the well costs are now covered and other half is under discussion, with the company confident.
Brian Larkin, CEO, United Oil & Gas PLC (LON:UOG)
March 4, 2020 • 6 MIN
We spoke with Brian Larkin, CEO of United Oil & Gas PLC to ask some questions about the company latest announcement, with the Completion of the Acquisition of Rockhopper Egypt Pty Ltd, Re-Admission to AIM and Abu Sennan Operational Update (https://www.share-talk.com/united-oil-gas-plc-lonuog-completion-of-acquisition-re-admission-to-aim/#gs.yu6b9b) .
United Oil and Gas, Chief Executive Officer, Brian Larkin:
“Completing the Acquisition of Rockhopper Egypt represents a significant milestone in the development of United, establishing the company as a full-cycle E&P company, and putting us in a strong position for further growth.
“At over 1,700 boepd, our 22% share of production at Abu Sennan and the revenues it generates are material. This does not take into account any future growth arising either from the ongoing infill drilling programme at Abu Sennan or the multiple exploration targets that have been independently estimated to hold gross unrisked prospective resources of 29.4 mmboe. Production has increased significantly over the last 12 months, reaching 7,900 boepd in February 2020. This highlights the potential of the assets and we look forward to working with our new partners to fully deliver on this promise.
“With drilling now underway at El Salmiya 5, the first well in the fully funded 2020 infill programme in Egypt, first gas scheduled for later this year in Italy and further progress expected across our other licence areas, we are entering an exciting phase in United’s development, one which will see our highly cash generative platform deployed to grow the Company further. With this in mind, we look forward to keeping shareholders apprised of our next steps on what has already been an exceptional growth trajectory.”
Louis Coetzee, Executive Chairman of Katoro Gold plc (LON:KAT)
March 4, 2020 • 4 MIN
Great to have Louis Coetzee back in the studio, since his last podcast update (https://www.share-talk.com/louis-coetzee-executive-chairman-of-katoro-gold-plc-lonkat-shareholder-update/#gs.yroecv) , it’s been a busy time for the company since we last spoke.
It has been a strong beginning to 2020 so far for Katoro Gold, I’ll start with what seems to have kicked it all off, the Gold Tailing Project & JV at Blyvoor in South Africa, this appears to have a realistic chance of what seems to be an almost (in mining terms) instant revenue-producing potential, can you give us a brief overview of the deal?
Here are some of the questions we asked Louis;
You mentioned a JV manager, can you tell us a little about Graham Briggs?
With the strength in the Gold Price and sound fundamentals, what is left to do before you can commence production?
Katoro’s Haneti project, can you walk me through the latest developments with the project including positive discussions at Indaba including interest from Mid & Tier 1 companies?
Oil Man Jim Company Oil & Gas Podcast & Weekend Blog, 1st March 2020
March 1, 2020 • 9 MIN
Quite a week and a particularly savage one for those holding the poorer companies. The most positive event was 88 Energy (88E) confirming rig mobilisation for the upcoming Charlie-1 appraisal well. Moving on with the bad ones (it’s a sort of reverse bucket list where instead of saying buy them, I said the opposite), Zenith Energy (ZEN) announced it intends to drill in the Congo in April. That’s nothing compared to its Congo co-venturer, Anglo African Oil & Gas (AAOG) which is down from 11.7p to 0.21p (98%) over the last year. The two companies which present the most trouble to comment upon are Reabold Resources (RBD) and United Oil & Gas (UOG).
Predator Resources (PRD) is down from 12.65p to 3.45p (73%) over the last year.
Tlou Energy (TLOU) is down from 10.35p to 2.6p (75%) in the last year. TLOU last week reported that dewatering is taking longer than originally anticipated. I thought it might. Sustained higher gas rates will take more time and/or require more wells On to the ugly as opposed to the bad, Eco (Atlantic) Oil & Gas (ECO) announced unaudited results and a corporate update. The shine is now starting to come off PetroTal (PTAL) which is down from 32.5p a month or so ago to 18.25p (44%), having been as low as 16p (down over 50%) last Friday. On the brighter side, Aminex (AEX) pushes forward in Tanzania, so that when approvals are given, they can quickly move into the operational phase. This also is positive for Solo Oil (SOLO), whose shares currently are suspended although the company hopes to be able to shortly provide an update on its proposed reverse takeover transaction.
Oil Man Jim Company Oil & Gas Podcast & Mid-Week Blog, 26th February 2020
February 26, 2020 • 4 MIN
Some interesting pieces of news in the first couple of days of the week. 88 Energy (88E) confirmed rig mobilisation for the upcoming Charlie-1 appraisal well. Spud now is imminent and drilling & logging are estimated to take around 30 days (https://www.share-talk.com/88-energy-limited-asxlon88e-video-corporate-presentation/) . It's also a credible drill with Premier Oil (PMO) having farmed in.
Aiminex (AEX) pushes forward in Tanzania, so that when approvals are given, they can quickly move into the operational phase. This also is positive for Solo Oil (SOLO), whose shares currently are suspended although the company hopes to be able to shortly provide an update on its proposed reverse takeover transaction Things don't look so good for Tlou Energy (TLOU) who reported that dewatering is taking longer than originally anticipated. I thought it might.
Predator Oil & Gas (PRD) announced a drilling team update; they also announced the exercise of the rig option last week. What they didn't announce was the publication of their CPR last week. Moving on, there was quite a ding dong with the PetroTal (PTAL) pumpers at the weekend.
Reabold Resources (RBD) announced an update on California operations. The number that's missing from their RNS is current oil production. There's a heavy decline rate on these California wells, that they prefer to avoid to mention. Eco (Atlantic) Oil & Gas (ECO) announced unaudited results and a corporate update (https://www.share-talk.com/eco-atlantic-oil-gas-ltd-tsxaimeco-unaudited-results-and-corporate-update/) . It appears there will be no drilling on the Guyana block this year, indeed perhaps never. In contrast, Zenith Energy (ZEN) says it intends to drill in the Congo in April. But that is dependent on many things, though, and in reality, it's not going to happen
https://www.share-talk.com/oil-man-jim-company-oil-gas-podcast-mid-week-blog-26th-february-2020/#gs.xkeg24
David Price, CEO of Rockfire Resources (LON:ROCK)
February 25, 2020 • 8 MIN
David Price, Chief Executive Officer of Rockfire, commented: These long intervals of gold in the upper levels of Plateau are extremely positive and demonstrate the size of the mineralising system.
The Rockfire technical team continues to see similarities to the Mt Wright Gold Mine, 45 km to the northeast of Plateau, hosting over 1.5 million ounces of gold, where the main gold ore is between 400 m and 850 m below surface.
Rockfire Resources plc (LON: ROCK), the gold and base-metal explorer, is pleased to announce all drilling results from the January 2020 program at the Plateau Gold Deposit, part of the Lighthouse tenement, North Queensland, Australia.
Oil Man Jim Company Oil & Gas Podcast & Weekend Blog, 23rd February 2020
February 23, 2020 • 8 MIN
Another busy week. Lansdowne Oil & Gas (LOGP) announced its placing: £488,000 at 0.6p to keep the company going until the end of the year.
Following its placing the previous week, Predator Oil & Gas (PRD) announced the exercise of its rig option with mobilisation to occur between 15 March and 30 April.
PetroTal (PTAL) issued an oil reserve and operational update. I mentioned declines and promotion out of Zug and encountered quite a reaction. Some of them who’ve given trouble previously over my comments on companies such as Block Energy (BLOE) and Reabold Resources (RBD) (both of which are down in price very significantly since) were complaining that they were blocked.
UK Oil & Gas (UKOG) announced a loan balance reduction to £3 million (so the convertible loan note shares continue to gradually be distributed) and also reported commencement of the HH-2z water shut off intervention.
Sound Energy (SOU) announced that the anonymous UK private company, which was previously stated to be the purchaser of their assets, doesn't have the funds. Now CEO, James Parsons, who managed to destroy investors' capital in Echo Energy (ECHO) too, is off to rescue Ascent Resources (AST). Per the recent RNS, the “rescue” starts by wiping out the equity of existing shareholders. Back to the individual companies, Tower Resources (TRP) announced a Cameroon update.
Union Jack Oil (UJO) and Reabold Resources (RBD) announced West Newton updates. Rathlin, the operator, now has filed a revised plan to the Environment Agency for approval, following which they will notify the Oil and Gas Authority in respect of the recommencement of the A-2 extended well test.
Touchstone Exploration (TXP) raised £9 million in a placing at 40p. Funds will be used to accelerate exploration drilling at Ortoire, where so far they’ve had considerable success. At the other end of the credibility spectrum, Canadian Overseas Petroleum (COPL) only managed to raise a comparably miserable £117,000 from its Chairman, “reflecting his confidence in the company” they said.
Eco (Atlantic) Oil & Gas (ECO) was "delighted to announce it has been recognized as a 2020 TSX Venture 50™ company, an annual ranking of top-performing companies on the TSX Venture Exchange.”
Meanwhile, United Oil & Gas (UOG) announced the completion of the Rockhopper acquisition. The 114,503,817 shares issued to Rockhopper Exploration (RKH) will be admitted to trading on AIM on 28 February.
Perhaps more interesting, Bahamas Petroleum Company (BPC) announced it has arranged a second convertible loan note facility.
https://www.share-talk.com/oil-man-jim-company-oil-gas-podcast-weekend-blog-23rd-february-2020/#gs.xre2pj
Cobra Resources PLC (LON:COBR) Director Craig Moulton Interview
February 20, 2020 • 10 MIN
Great to speak to you today Craig, we have been following Cobra with interest following your works programme onsite, can you give our listeners an overview of the Wudinna project and recent activity/news?
We know It was originally a Newcrest project, so has the pedigree to interest one of the world’s largest gold miners.
Cobra (LSE: COBR), an exploration, development and mining company.
Following feedback from potential and current investors, the Company has adjusted its programme of work, staging the exploration programme at Wudinna into three phases, consisting of smaller, more focused inputs and outputs. This approach will de-risk the project as Cobra progresses through these stages, while reducing the initial spend on the exploration programme as originally designed.
Key Highlights:
· Initially, the Company had planned a geochemical sampling programme followed immediately by a drilling programme at the Wudinna project. The Company has adjusted its approach into a three-staged geochemical programme, with the aim of improving the definition of the drilling targets prior to drilling, reducing spend and improving target definition.
Louis Coetzee, Executive Chairman of Katoro Gold plc (LON:KAT) Shareholder Update
February 19, 2020 • 8 MIN
Great to have Louis Coetzee back on the podcast, it’s been a busy time for the company since we last spoke (https://www.share-talk.com/louis-coetzee-executive-chairman-of-katoro-gold-plc-lonkat-podcast/) .
The share price has strengthened after Katoro Gold entered into a JV for a near term finance ready Gold tailings project in South Africa. For the benefits of any new listeners, what attracted you to the project Louis?
You recently appointed a new JV mine manager, for the benefit of our listeners can you give some background on Graham Briggs?
Last Friday RNS, the company received an additional working capital boost via warrant conversion, this includes both KIBO Energy your biggest shareholder and company broker SI Capital, this looked like a significant endorsement of recent developments, how do you feel about this?
Whilst much of the recent focus of the market has been on the Gold portfolio, you also update the market on you Haneti project last week, I was particularly interested in the feedback you received at Indaba, can you give us an overview of Haneti and the potential you see there?
Enjoyed speaking to you again Louis, in what looks like an exciting period for the company and investors, do you anticipate regular updates to the market as we close out Q1?
Oil Man Jim Company Oil & Gas Podcast, Mid-Week Blog, 19th February 2020
February 19, 2020 • 5 MIN
Lansdowne Oil & Gas (LOGP), which I mentioned at the weekend along with its Barryroe partner, Providence Resources (PVR), announced its placing: £488,000 at 0.6p
Sound Energy (SOU) announced that the anonymous UK private company which was previously touted as the purchaser of their assets doesn't have the funds. Sound's still got plenty further to fall compared to Anglo African Oil & Gas (AAOG), which now is around just 1% of the price it was when I first started questioning it More on Predator Oil & Gas (PRD), which announced its fundraising last Friday.
PetroTal (PTAL) generates controversy. There's a group of investors (many of the same ones as in RBD and UOG) who consider it one of the best investments ever; others question the decline rate (which of course the first group deny). PTAL issued a 2019 year-end oil reserves and operational update this week, touting large increases in reserve numbers (which is usual when drilling), but no mention at all of the declines, which are obvious from the company's own announcements.
https://www.share-talk.com/oil-man-jim-company-oil-gas-podcast-mid-week-blog-19th-february-2020/
Oil Man Jim Company Oil & Gas Podcast Blog, 16th February 2020
February 16, 2020 • 8 MIN
It's been a particularly interesting week. Starting with Baron Oil (BOIL) about which I said last weekend the only question was the price of the placing, that question was answered on Friday: 0.1p. There’s shades of I3 Energy (I3E) here, where there was a similar stunt by the ill-informed misinterpreting and distorting an RNS announcement back in December.
Bahamas Petroleum Company (BPC) announced that its Bahamas mutual fund offer has flopped, raising only £700,000 at 2p. Another one with a big drill, but fully funded, 88 Energy (88E) announced an operations update.
Tower Resources (TRP) announced a Cameroon operational update. The marine survey vessel completed its work at the well site last Friday One that’s clear about its need to place is Providence Resources (PVR), which advised that it currently has sufficient working capital to fund its costs through to the end of March/ early April 2020.
Lansdowne Oil & Gas (LOGP), too) was the news that they have recommenced the Barryroe farm-out process and a number of companies are actively assessing the field data. I thought it would be hard for a company to be worse than Anglo African Oil & Gas (AAOG), but then along came Zenith Energy (ZEN).
Petrel Resources (PET) issued news last week regarding the Tamraz shares and posted a link to a letter from the group. It’s not at all convincing. I mentioned Hurricane Energy (HUR) last weekend too, saying that I had cautioned about it towards the end of last year when it was in the 30s and it was now down to 17p.
https://www.share-talk.com/oil-man-jim-company-oil-gas-podcast-weekend-blog-16th-february-2020/
Oil Man Jim Company Oil & Gas Podcast, Mid-Week Blog, 12th February 2020
February 12, 2020 • 5 MIN
Starting on a positive note, 88 Energy (88E) announced an operations update. The ice road is more than 80% complete, the drill permit has been issued and spud is anticipated later this month. Another one with a potential major drill, Bahamas Petroleum Company (BPC) started the week announcing a Bahamian mutual fund update.
Tower Resources (TRP) announced a Cameroon operational update. The marine survey vessel completed its work at the well site last Friday and the company's initial view is that the data from the three boreholes are consistent and in line with pre-survey expectations. It all now comes down to whether or not they can negotiate a farm-out. If they do, it flies.
Rose Petroleum (ROSE) put out a couple of announcements. They're still talking about a farm-out of their Paradox acreage, but they've been doing that for years.
Petrel Resources (PET) issued an update regarding the Tamraz group shares. They didn't even try to explain it, but just posted a link to a letter from the group.
Zenith Energy (ZEN) issued an announcement headlined "Successful Issue of Bonds & Operational Update." Perhaps slightly misleading to use the word "successful." I mentioned Hurricane Energy (HUR) last weekend, saying that I had cautioned about it towards the end of last year when it was in the 30s and it was now down to 17p.
Bert Monro, CEO of Cora Gold Limited (LON:CORA) Drill results update
February 11, 2020 • 5 MIN
Cora Gold Limited, the West African focused gold exploration company, is pleased to announce the first drill results from its campaign, which commenced in November 2019 at its Sanankoro Gold Project ("Sanankoro" or "the Project"), Southern Mali. Drilling mainly targeted deeper oxide and sulphide extensions to the Maiden pit constrained Inferred Mineral Resource of 5.0 million tonnes (Mt) at 1.6 g/t Au for 265,000 ounces of gold
Oil Man Jim Company Oil & Gas Podcast Blog, 9th February 2020
February 9, 2020 • 9 MIN
I mentioned Baron Oil (BOIL) last weekend and said I thought there would be a fundraising. The preliminaries for that started on Tuesday with a website update incorporating an old Shell report already in the public domain and, with plenty of misunderstandings and misinterpretations on social media, the share price rose 1,000%.
Touchstone Exploration (TXP) pleased the market with its announcement that the average flow back rate at Cascadura during the final 14-hour test period was 5,180 barrels of oil equivalent per day and the shares enjoyed a strong performance with the company stating that the Cascadura production test results represented a dramatic change for Touchstone.
Eco (Atlantic) Oil & Gas (ECO) announced what appeared to some to be a positive reserves report, but in fact it was not.
Oil (TLW) will want to proceed. Remember, I warned in the blog three weeks ago Tullow’s trading statement and operational update stated that “exploration costs written off
Jersey Oil & Gas (JOG) has been weak since its announcement that it had acquired Equinor (EQNR)'s 70% interest in Licence P2170. Equinor also notified Valeura Energy (VLU) that it intends to discontinue participation in their deep gas appraisal programme.
Hurricane Energy (HUR)’s share price decline continued as it announced another operational update. I was cautioning about HUR towards the end of last year when it was in the low 30s. It’s now down to 17p. A quick comment about UK Oil & Gas (UKOG) in passing, because I'm asked about it, and that concerns the convertible loan notes, the latest tranche of which were converted at 0.56p.
I also regularly get asked about Petrel Resources (PET), which I mentioned as a favourite several times last year around 1p. I said it had the potential to 10 bag and it did a lot more than that, rising around 2,500%.
I3 Energy (I3E) announced a board and operational update.
Tower Resources (TRP), announced that the survey vessel should be about to complete its boreholes and the Company aims to move to more concrete scheduling of the NJOM-3 well
RockRose Energy (RRE) announced the acquisition of a 100% interest in the Cotton gas field for a limited initial consideration, with the larger part of the consideration becoming due at Final Investment Decision.
IGas Energy (IGAS) announced a reserves and trading update. Compared to a current market capitalisation of £48 million, the independent expert's valuation of conventional assets is around $180 million on a 2P NPV10 basis
Oil Man Jim Company Oil & Gas Podcast, Mid-Week Blog, 5th February 2020
February 5, 2020 • 4 MIN
Interesting first couple of days. Eco (Atlantic) Oil & Gas (ECO) announced what appeared to be a positive reserves report, but there was a muted market response. So it's still down to future drills and the big question now is whether majority partner Tullow Oil (TLW) wants to proceed.
I'll make a quick comment about UK Oil & Gas (UKOG) in passing, because I'm asked about it, and that concerns the convertible loan notes, the latest tranche of which were converted at 0.56p
Jersey Oil & Gas (JOG) has been weak since its announcement that it had acquired Equinor (EQNR)'s 70% interest in Licence P2170. Part of the reason for that was disclosed with this week's announcement that Richard Griffiths has been selling
Tower Resources (TRP) announced that the survey vessel should have completed its boreholes in a few days.
RockRose Energy (RRE) announced the acquisition of a 100% interest in the Cotton gas field for a limited initial consideration, with the larger part of the consideration becoming due at Final Investment Decision.
Baron Oil (BOIL) announced a website update with publicly available information from reports on the area prepared by Shell in 1998 and 2001 following the drilling of the Chuditch-1 discovery well and the share price went up 250% on the "news."
I'll be back on Sunday with the next blog and podcast and if you’re interested in knowing my actual trading ideas and more about what I think of the various companies, then subscribe to the private blog at https://oilnewslondon.com/oilman-jim I think you’ll find it’s worth it.
Louis Coetzee, Executive Chairman of Katoro Gold plc (LON:KAT)
February 4, 2020 • 7 MIN
Great to have you on the podcast Louis, and what looks like a company changing RNS late last week for Katoro Gold, having entered into a JV for a near term finance ready Gold tailings project in South Africa.
For the benefits of our listeners, please can you give a brief overview of the key points of the JV/project?
Here are a few of the questions we asked Louis in this podcast. From an operations point of view, the project certainly seems compelling, at what stage is the permitting for operations, does the project have suitable life of mine and what is the financing potential for a project like this?
From an operations point of view, the project certainly seems compelling, at what stage is the permitting for operations, does the project have suitable a life of mine and what is the financing potential for a project like this?
It’s fantastic to hear your enthusiasm and the strong potential economics of the project, do you anticipate regular updates to the market
Grassroots Podcast with Fairbairn & Russell Musings, 2nd February 2020
February 2, 2020 • 24 MIN
Two investors chatting across the table about their investing journeys, the market & shares that they hold or look interesting.
In this weeks episode, the guys talk SXX, GGP, EQT, KAT, RGM, TSI, ROCK and a few surprise guests to be announced.
Talking about trading style and what pitfalls there can be when investing in AIM stocks, past lessons learnt a few the hard way. A great insight into the market mechanics behind the scenes to your everyday investor, sharing thoughts and views.
We intend to invite other Investors and companies onto the platform for an informal chat and hope to provide create a unique insight into the market.
Oil Man Jim Company Oil & Gas Podcast Blog, 2nd February 2020
February 2, 2020 • 12 MIN
It’s been a busy week. Hurricane Energy (HUR) issued a trading and operational update and addressed the recent share price weakness, confirming that they are not aware of any subsurface, operational or commercial reasons that would have caused such decline.
Also operating in the North Sea, Jersey Oil & Gas (JOG) announced the acquisition of Equinor's 70% interest in Licence P2170. Back onshore, UK Oil & Gas (UKOG) announced that they are bringing HH-1 into production during Spring 2020, followed by HH-2z upon completion of the current extended well test. With the largest upcoming drill net to its interest, Bahamas Petroleum Company (BPC) announced its "Roadmap to Drilling" resulting in some market excitement. Moving on, Lekoil (LEK) announced that its Otakikpo field is currently producing 2,122 barrels of oil per day net to LEK's subsidiary, LOGL.
Baron Oil (BOIL) returned from suspension; its reverse take over of SundaGas has been terminated. They also have a 15% share of the Corallian prospects, but apart from Reabold Resources (RBD) rabbiting on about a huge discovery, I think everyone else accepts that Colter is dead
Pantheon Resources (PANR), has been issuing some strong announcements, to no end unfortunately since their shares currently are suspended for failing to file their accounts on time.
Prospex Oil & Gas (PXOG) announced a placing of 600,000,000 shares at 0.12p to raise £720,000. Two years ago the share price was nearly 0.8p, so you can see the value destruction that has gone on here. In the same category, Coro Energy (CORO) announced the termination of the Bulu PSC acquisition. CORO is one "person" in James Parson's self-styled "holy trinity," the others being Sound Energy (SOU) and Echo Energy (ECHO). There's even worse companies than this though. Anglo African Oil & Gas (AAOG) issued its most positive news in a while, confirming they have enough cash to keep going until the end of March.
Zenith Energy (ZEN), Anglo African's new partner in their Congo field took the opportunity to place again: this time, nearly £1,000,000 at 1.68p. Whoever listened to those touting it at up to 2.9p recently got shafted. Another investor favourite, Block Energy (BLOE) finally announced its operations update. Gas is being flared, so that has no value currently and they're still having to truck away water, which appears to be nearly 80% of their production.
Oil Man Jim Company Oil & Gas Podcast, Mid Week Blog, 29th January 2020
January 29, 2020 • 8 MIN
Its share price may continually decline, as I warned it would all the way from 20p down, but Anglo African Oil & Gas (AAOG) continues to issue news, the latest being that they have enough cash to keep going until the end of March. Africa is a nice excuse for Zenith Energy (ZEN) to do yet another raise. Anglo African's new partner in Tilapia took the opportunity to place again today: this time, nearly £1,000,000 at 1.68p. Another investor favourite, Block Energy (BLOE) finally announced its operations update. Gas is being flared, so that has no value currently and they're still having to truck away water, which appears to be nearly 80% of their production. Moving on, Lekoil (LEK) announced that Otakikpo is currently producing 2,122 barrels of oil per day net to LEK's subsidiary, LOGL. Developments at Jersey Oil & Gas (JOG), who announced the acquisition of Equinor's 70% interest in Licence P2170.
UK Oil & Gas (UKOG) announced that they are bringing HH-1 into Production during Spring 2020, followed by HH-2z upon completion of the current extended well test.
Baron Oil (BOIL) returned from the suspension; its reverse take over of SundaGas has been terminated.
Oil Man Jim Company Oil & Gas Podcast, Blog 26th January 2020
January 26, 2020 • 5 MIN
It was a busy week, with a number of interesting announcements. After a suspension in Australia, 88 Energy (88E) completed a £2.6 million placing at 1.1p. 88E’s previous drilling partner, Red Emperor Resources (RMP) issued its quarterly report. RMP continued to conduct due diligence on a number of potential projects and, at the end of the quarter, had cash of approximately A$5.1 million.
Europa Oil & Gas (EOG) announced that the major oil company, with whom it has been negotiating, has pulled out. Europa now is looking for another partner to drill its Inishkea prospect, which has gross un-risked prospective resources of 1.5 trillion cubic feet of gas and an estimated geological chance of success of one in three. Meanwhile, Egdon Resources (EDR) issued a more positive announcement. They've signed a farm-in agreement with Shell UK in relation to their offshore licences containing the Resolution and Endeavour discoveries.
Lekoil (LEK) appear to have managed a reprieve. Obligations to Optimum Petroleum have been deferred, so that $2 million now is to be paid on or before 20 March 2020
Petrel Resources (PET) looks like it could be having middle-Eastern financing issues too, but the wily old John Teeling looks like he may have the chancers by the short and curlies, having obtained an injunction blocking all trading in the shares issued to this group.
Colin Bird, Executive Chairman of Xtract Resources plc (LON:XTR)
January 23, 2020 • 6 MIN
Zak Mir talks with Colin from Xtract about the drilling update on Eureka and Kajevu Copper Prospects, Zambia.
Highlights
· First three holes at Eureka Project cut shallow copper-bearing intervals over downhole widths ranging from 52m to 77m with the fourth hole in mineralisation
· Handheld XRF spectrometer indicated potential elevated copper and cobalt values
· Historic and current drilling confirm mineral zone over 240m of strike and to 95m depth, open in several directions and appears to widen at depth
· Initial core logging suggests possible Copperbelt-style deposit setting
· Drilling continuing at Eureka- holes being logged and sampled in preparation for external assay
· Drilling on Matrix Project indicated a 7m mineralised interval in hole MX-05A
Colin Bird, Executive Chairman said: "We are particularly pleased with the drilling results at Eureka which are both intriguing and exciting in that mineralised intersections are thick and the occurrence is potentially open on strike and to depth. The results are intriguing on the basis that the occurrence is characteristic of typical copper belt mineralisation whilst the deposit is some considerable distance from the copper belt. It is exciting because the ore body is near vertical and the widths are in excess of our original expectations. We eagerly await the assay results to confirm copper values and the presence of cobalt and the grade, if present. Our plan now is to gather in all the results and plan the next stage of exploration activities to test these encouraging initial results."
Full RNS LINK (https://www.investegate.co.uk/xtract-resources-plc--xtr-/rns/drilling-update-on-eureka---kajevu--zambia/202001231100067344A/)
Oil Man Jim Company Oil & Gas Podcast, Mid Week Blog, 22nd January 2020
January 22, 2020 • 5 MIN
A few interesting pieces of news so far this week. Touchstone Exploration (TXP) issued a strong announcement regarding their Cascadura-1ST1 well, onshore Trinidad.
88 Energy (88E) issued its quarterly report. Charlie-1 is proceeding as planned ahead of the scheduled February 2020 spud date, permitting of the Yukon acreage is underway ahead of potential drilling in 2021,
Anglo African Oil & Gas (AAOG) continued to issue news, but from a corporate governance point of view,
Egdon Resources (EDR) issued a more serious announcement. They've signed a farm-in agreement with Shell UK is relation to their offshore licences containing the Resolution and Endeavour discoveries.
Now attempting to drag itself out of the mire, Lekoil (LEK) appear to have managed a temporary reprieve.
Rockfire Resources (LON:ROCK) Update with David Price on Plateau Gold Deposit
January 21, 2020 • 6 MIN
We caught up with David Price, CEO of Rockfire Resources about the recent RNS released on the Plateau Gold Deposit.
Rockfire Resources plc (LON: ROCK), the gold and base-metal focused explorer, is pleased to announce that drilling has commenced to expand gold mineralisation encountered in hole BPL025, at the Company's 100%-owned Plateau Gold Deposit in Queensland, Australia.
As announced on 26 November 2019, hole BPL025 intersected 177 m @ 0.5 g/t Au. This drilling program will also aim to extend the near-surface gold resources at Plateau in north Queensland, Australia.
Oil Man Jim Company Oil & Gas Podcast, Blog 19th January 2020
January 19, 2020 • 7 MIN
RockRose Energy (RRE) traded at nearly £23 a share, up from just under £20 the previous Friday and Tower Resources (TRP) traded at nearly 0.8p on Tuesday up from just over 0.5p. I said a couple of times towards the end of last year that Tower was a good buying opportunity under 0.4p. On that subject, United Oil & Gas (UOG) has no takers for its Jamaica farm-out of what they describe as a "super wildcat area.” They’ve managed to get a short licence extension until 31 July for the final "drill-or-drop" decision, but the reality here is that when Tullow Oil (TLW) gave UOG 20% of this for free they were simply binning a work programme liability. Tullow’s statement also includes Eco Atlantic (Oil & Gas) (ECO)’s assets, so if I was an investor, I’d be asking them some very hard questions now. I’ll move back to the positive news shortly, but first, let’s get some of the others out of the way. The Anglo African Oil & Gas (AAOG) general meeting was held on Monday morning and, as expected, the Zenith Energy (ZEN) deal was approved. Putting them into the shade was Lekoil (LEK) which announced that its Qatari financing was false, resulting in the share price collapsing from 9.5p to 2.5p.
Nostra Terra Oil & Gas (NTOG), who coincidentally has the same NOMAD as LEK, announced a requisition to convene a general meeting and remove the CEO, Matt Lofgran. To have a chance with small stock market oil companies, best is to be in those with a big, high impact drill coming up, so back to shares and some better ones, starting with 88 Energy (88E) which announced a Charlie-1 appraisal well update. Finally, and at long last for Egdon Resources (EDR), Europa Oil & Gas (EOG) and Union Jack Oil (UJO), their Wressle development was granted planning consent on appeal.
Oil Man Jim Company Oil & Gas Podcast, Mid Week Blog, 15th January 2020
January 15, 2020 • 4 MIN
RockRose Energy (RRE) is now trading at over £22 a share, up from just under £20 at last Friday’s close and Tower Resources (TRP) was up to nearly 0.8p yesterday from just over 0.5p on Friday. I said a couple of times towards the end of last year that Tower was a good buying opportunity under 0.4p.
Unfortunately, it’s not all good news for investors this week. Lekoil (LEK), whose announcement of Qatari financing turned out to be false, returned to trading yesterday and collapsed from 9.5p to 2.5p. Next, Anglo African Oil & Gas (AAOG) and Zenith Energy (ZEN). The general meeting was held on Monday morning and, as expected, the Zenith deal was approved.
United Oil & Gas (UOG) has no takers yet for the Jamaica farm-out of what they describe as a "super wild-cat area.” Fortunately, they’ve managed to get a licence extension until 31 July 2020 for the final "drill-or-drop" decision. The reality here is that when Tullow Oil (TLW) gave UOG 20% of this for free they were simply binning a work programme liability. Most important news coming up here is the sustained production number for the new well in Egypt.
I'll be back at the weekend with a full blog and podcast covering all the week's news
Oil Man Jim Company Oil & Gas Podcast, Blog 12th January 2020
January 12, 2020 • 6 MIN
A first full week of the New Year and plenty going on.
Rockhopper Exploration (RKH) announced Heads of Terms with Navitas to farm-in to Sea Lion.
Sea Lion JV partner Premier Oil (PMO) announced it's trading and operations update. 2019 production was 78,400 boepd. It's also looking forward to drilling its first well in Alaska, which it describes as "potentially transformational" for Premier, whose own interest comes via a farm out from 88 Energy (88E), which incidentally is now up 100% from when I mentioned it as a favourite towards the end of last year. Premier also announced proposed UK North Sea acquisitions, which will add around 23,000 boepd productions with development upside. The acquired assets are forecast to generate over $1 billion of free cash flow to the end of 2023, exactly the type of acquisition that RockRose Energy (RRE) is looking for.
Bahamas Petroleum Company (BPC) announced an update regarding their mutual fund set up to allow locals to invest.
Petrel Resources (PET) shocked investors, announcing that payment for the second tranche of shares has not yet been received from the Tamraz group.
The arrival of Alan Linn as CEO at another Dublin company, Providence Resources (PVR), has perked the share price up considerably. He's looking forward to working with the board to bring new investment into the Barryroe project. Tower Resources (TRP), another looking to drill soon, also is starting to firm up.
Lekoil (LEK) has been strong since it announced appraisal funding secured at the start of the year. Meanwhile, the Zenith Energy (ZEN) and Anglo African Oil & Gas (AAOG) saga draw to a close. Voting on the deal is Monday morning and it looks like Zenith is going to get the old Congo field.
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Oil Man Jim Company Oil & Gas Podcast, Mid Week Blog, 8th January 2020
January 8, 2020 • 4 MIN
Interesting first week. RockRose Energy (RRE) announced a year-end trading update. Year-end total cash was $370.7 million ($54.9 million restricted), more than the current capitalisation.
Rockhopper Exploration (RKH) announced Heads of Terms with Navitas to farm-in to Sea Lion. Sea Lion JV partner Premier Oil (PMO) announced its trading and operations update. 2019 production was 78,400 boepd. It's also looking forward to drilling its first well in Alaska, which it describes as "potentially transformational" for Premier, whose own interest comes via a farm out from 88 Energy (88E)
Bahamas Petroleum Company (BPC) announced an update regarding their mutual fund set up to allow locals to invest.
Reabold Resources (RBD) and Echo Energy (ECHO) issued drilling updates.
United Oil & Gas (UOG) and Prospex Oil & Gas (PXOG) issued announcements regarding the issue of an environmental approval in Italy.
Zenith Energy (ZEN) and Anglo African Oil & Gas (AAOG) announced a loan by ZEN to AAOG of £250,000 to keep it afloat.
Oil Man Jim Company Oil & Gas Podcast, Blog 5th January 2020
January 5, 2020 • 7 MIN
It was pleasing to see Petrel Resources (PET) end up as a top-performing share of the year, closing on 31 December at 15.5p. PET was highlighted as a favourite in the blog several times last year around 1p. The New Year has got off to an interesting start. I3 Energy (I3E) announced a corporate and funding update: it's now preparing for a mid-2020 appraisal programme to delineate the fields which the Company believes could contain more than 600 million barrels of oil in place P50.
On the bright side, 88 Energy (88E) which I listed as a favourite recently (and I list very few as that), started the year trading up around 100%.
Eco Atlantic Oil & Gas (ECO) issued an announcement noting the recent news from Tullow Oil (TLW) regarding the light oil discovery made at the Carapa-1 well, offshore Guyana.
Lekoil (LEK) issued a strong announcement. It has secured $184 million funding from the Qatar Investment Authority for the appraisal drilling and initial development programme on the Ogo field within OPL 310.
Pantheon Resources (PANR) never ceases to surprise. This £83 million market cap company has been suspended from trading due to its failure to publish its accounts on time. The soap opera continues at Anglo African Oil & Gas (AAOG) with the war of words between Align Research/Jub Capital and Zenith Energy (ZEN)'s social media representatives escalating. Looking at matters pragmatically, the ZEN proposal sucks virtually all the value out of the company
Further information on subscription can be found at https://oilnewslondon.com/subscribe
I’ll be back mid-week with the next blog and podcast. The main flow of oil news should start on Monday.
Oil Man Jim Company Oil & Gas Podcast, Blog 30th December 2019
December 30, 2019 • 5 MIN
Quiet Christmas week, but still plenty to comment on. Starting with the positives, Petrel Resources (PET) is turning out to be the top-performing AIM share of the year.
This was highlighted as a favourite many times in the blog around 1p. It's now 19.5p, up 1,850%. There's another one with similar potential in the current issue of the private blog for those who are interested.
UK Oil & Gas (UKOG) announced an HH-1 and HH-2z extended well test update. HH-2z achieved initial rates of up to 1,087 barrels of fluids per day and oil cuts of up to 60%
88 Energy (88E) announced all is on track to drill Charlie-1 in the first quarter of 2020 and Empyrean Energy (EME) is progressing its objective to drill its first well in China during 2020.
Reabold Resources (RBD) also issued news, but since it's the festive season I'll refrain from commenting on this, since I don't want to spend the rest of the day dealing with tweets from angry shills and shareholders.
Anglo African Oil & Gas (AAOG), where even its most ardent supporters have now accepted that I was right all along. Latest is that it wants to sell off 80% of its Congo subsidiary to Zenith Energy (ZEN)
I'll be back next weekend with a full blog and podcast. In the meantime, I wish everyone all the very best for the New Year 2020.
Oil Man Jim Company Oil & Gas Podcast, Blog 22nd December 2019
December 22, 2019 • 5 MIN
Companies are now saving up their good news for next year, but there were still plenty of interesting announcements last week.
Anglo African Oil & Gas (AAOG) CEO, James Berwick, resigned on Monday and the share price now is down to around half a penny. Another winner for shorts over the last six months is Block Energy (BLOE), which ramped up its share price in anticipation of a placing on the basis that it was producing 1,100 barrels of oil per day and didn’t need a placing. A third disgrace is Sound Energy (SOU), which I've been calling down from the mid-40s. A further company attracting controversy is United Oil & Gas (UOG), where some placees who were sitting on losses have gone on a ramp. More realistic news from Touchstone Exploration (TXP) which announced strong test results from its COHO-1 well
Union Jack Oil (UJO) and Reabold Resources (RBD) announced that extended well test operations
Solo Oil (SOLO)’s production acquisition is looking uncertain.
Prospex Oil & Gas (PXOG) announced the possible acquisition of a minority stake in a Spanish gas power project.
Echo Energy (ECHO) announced mobilisation of the rig to drill the Campo Limite exploration well, which is due to spud before year-end. I'll be back next Sunday with a full blog and podcast. In the meantime, I wish you all a very Merry Christmas.
Share Talk Final Bulletin Board Heroes For 2019, Friday 20th December
December 20, 2019 • 5 MIN
Welcome to our final Bulletin Board Heroes of 2019, what a year and we hope you have enjoyed our updates and they have been informative. Zak will be back early in the New Year with his top stocks of 2019 and top five picks for 2020.
From everyone here at Share Talk HQ, we would like to wish you a happy festive season where ever you are in the world and please give, spare a thought for those less fortunate at this time of year, thank you xx
Zak Mir highlights some of the most followed stocks on the small-cap London market and gives an overview of the fundamentals in this charting update
Bidstack Group (BIDS)
Billing Services Group (BILL)
Cadogan Petroleum (CAD)
Lamprell (LAM)
Mila Resources (MILA)
Renewi (RWI)
United Oil & Gas (UOG)
Zakmir.com (https://zakmir.com/) is a purely journalistic website – Zak Mir is a member of the National Union of Journalists. There is no intention here of providing financial advice. It is recommended you seek an independent professional opinion before deciding whether or not to take any action with regard to anything written here.
Rockfire Resources (LON:ROCK) David Price, Chief Executive Officer
December 19, 2019 • 7 MIN
We are joined again by David Price, Chief Executive Officer of ROCK, which is an Australian focused gold and copper company.
We have seen a lot of news flow lately from the company since our last podcast, our first question to David is with the last set of results being released, can you give our listeners a brief overview of the recent results and the drill hole that gave you the most surprised?
Drilling hits high-grade gold under Plateau resource
18 December 2019
Rockfire Resources plc (LON: ROCK), the gold and base-metal explorer, is pleased to announce that high-grade gold has been intersected in the final two drill holes to test beneath the gold resource at the Company's 100%-owned Plateau Gold Deposit in Queensland, Australia.
David Price, Chief Executive Officer of Rockfire, commented:
"We're delighted that drilling beneath the Plateau resource has hit such excellent grades and widths. These results demonstrate that gold mineralisation extends deeper and provides strong growth potential for the resource."
"These deeper intersections are only 65m from surface and are still well within depths possible for open pit mining. There are operating gold processing plants nearby, so should any future toll treatment possibility eventuate, the costs of processing may materially reduce. I should clarify that no discussions have been instigated with the owners of these facilities at this point in time."
"With all holes in this drilling campaign intersecting outstanding gold grades and widths, we are confident that our understanding of the geology and mineralisation is improving with each hole drilled. Additional geophysics will be undertaken to expand our interpretation at depth."
"Targets for growth of the gold resource have been clearly identified and Rockfire plans to recommence drilling as soon as possible. The recent exercise of warrants has provided additional drilling capital and our technical team has already started planning for the next phase of drilling."
Oil Man Jim Company Oil & Gas Podcast, Blog 18th December 2019
December 18, 2019 • 2 MIN
The saga continues at Anglo African Oil & Gas. CEO, James Berwick, resigned on Monday and the share price now is down to 0.5p. Another winner for shorts over the last six months is Block Energy, which ramped up its share price in anticipation of a placing on the basis that it was producing 1,100 barrels of oil per day and no funding was needed. A further shocker is Sound Energy, which I've been calling down from the mid 40s. It's announced yet another "keep the lights on" placing," Better news from Touchstone Exploration which announced an actual oil discovery in Trinidad and Tobago.
Prospex Oil & Gas announced the possible acquisition of a minority stake in a Spanish gas power project.
Oil Man Jim Company Oil & Gas Podcast, Blog 15th December 2019
December 15, 2019 • 5 MIN
Plenty of excitement last week and not just with the election. The week started with I3 Energy (I3E) seeing its price collapse back down on Monday.
After readers of the blog and listeners to the podcast were alerted last weekend to the false statements being made about the previous week's announcements. I started challenging the misstatements on Friday and a crescendo of abuse built up right through the weekend, only finishing on Monday morning after what I said would happen did. Most of this was from those promoting the false interpretations of I3's announcements, but some were from genuine investors who having been deceived and bought the shares, now wanted to believe the lies.
The same thing happened with Anglo African Oil & Gas (AAOG) who announced on Thursday no further repayments from SNPC, lower than expected payments under the investor sharing agreement and yet another rig delay. This proved too much even for core investors and the price collapsed 70% to 0.7p. As those who follow me know, I’ve been calling this down from the high teens and, just like with I3E last weekend, I received much abuse on the way. Some of this came from known shills, but the majority was from those who had bought too many and wanted desperately to believe.
As I said mid-week, I can understand how upsetting it is for those who believed the misrepresentations and bought these companies’ shares, but all I do is look at the facts and report them. There's nothing personal in this, there's no agenda and all I can say is be very careful in future who you listen to. Particularly in the case of AAOG, I think some people have racked up enormous losses, multiplied up by averaging down and, if it’s any consolation, some parties are looking to try to put together an investor group with 5%+ to call an EGM and remove the directors. I understand there could be a good case to recover damages from previous and current directors, plus the company’s professional advisors.
Back to more normal news, Predator Oil & Gas (PRD) announced that it has entered into a rig option agreement. They have until 31 January 2020 to finalise a legally binding contract. No word yet as to how they will finance this, although they do say that it creates a catalyst to attract drilling partners if required. They already have a convertible loan note outstanding, so my view would be to do nothing here until financing news is released.
United Oil & Gas (UOG) returned from suspension on Monday, possibly not the best of days with Tullow Oil (TLW)’s simultaneous announcement of its difficulties. Tullow, of course, is co-venturer in UOG's most significant asset offshore Jamaica. On the bright side, they announced the receipt of $855,000 from Hibiscus in relation to their North Sea blocks. Unfortunately, their Egypt acquisition from Rockhopper Exploration (RKH) turns out to be being financed at 3p, which is nearly half the price of their last placing. I’ve never been particularly keen on this company, since it's an arbitrary collection of assets and doesn't really appear to have any direction. The ones that do best in the market generally have one big project and 100% focus on it. Share prices also tend to stagnate once companies reach the production stage and dreams turn into realities. The money usually is in the run-up to that point.
Hurricane Energy (HUR) announced a trading and operational update. All looks solid. The average production rate of 13,300 barrels of oil per day for 2019 and 20,000 barrels of oil per day forecast for 2020. Currently 33.2p, it trades under the 34p placing price of three years ago, even though it has achieved its targeted objectives. Think about it.
Eco (Atlantic) Oil & Gas (ECO) announced the renewal of its Guyana licence, another one where Tullow is the operator and major interest holder, but everything here comes down to the operating decisions that will be made in January. Will Tullow want, or be able to continue, is the question.
Europa Oil & Gas (EOG) announced its AGM statement. Key here is whether they can secure farm-outs for their Inishkea licence, offshore Ireland, and their newly awarded licence in Morocco. At a £10 million market cap, it remains a pure gamble.
Pantheon Resources (PANR) announced successful bids for acreage in an Alaska lease sale. 27,840 acres might sound a lot, but the announcement is pure fluff and PANR remains very much on the avoid list.
In closing, RockRose Energy (RRE) announced the commencement of its development drilling campaign. The company is set to participate in at least seven wells before the end of 2020. I bought a couple of tranches of RRE around 130p and received a 150p per share “return of capital” a few months later, so I’ve always liked it. Now 1,735p, it appears to be temporarily stuck, but another acquisition should move it.
If you'd like to know my trading ideas now (and as those who follow me know, I'm rarely wrong), then subscribe to the private blog at https://www.oilnewslondon.com/oilman-jim
Oil Man Jim Company Oil & Gas Podcast, Blog 11th December 2019
December 11, 2019 • 4 MIN
It's a fascinating week on a number of fronts. Main uncertainty, of course, is the outcome of tomorrow's general election; record numbers are still undecided how to vote. It's going to be dramatic viewing tomorrow night and there will be plenty of action in the market on Friday.
Moving on to shares, sentiment generally was hurt on Monday by Tullow Oil's grim announcement, which knocked its price down by over 70% and had a ripple effect across the rest of the small-cap oil sector. I3 Energy also saw its price collapse back down on Monday after readers of the blog and listeners to the podcast were alerted to the false statements being made about last week's announcements. I started challenging the misstatements on Friday and a crescendo of abuse built upright through the weekend, only finishing on Monday morning after what I said would happen did. Most of this was from those promoting the false interpretations of I3's announcements, but some were from genuine investors who having been deceived and bought the shares, now wanted to believe the lies. I can understand how upsetting it is for those who believed the misrepresentations on Friday and bought I3E, but all I do is look at the facts and report them. There's nothing personal in this, there's no agenda and all I can say is be very careful in future who you listen to.
Back to this week's company news, Predator Oil & Gas announced that it has entered into a rig option agreement. They have until 31 January 2020 to finalise a legally biding contract. No word yet as to how they will finance this, although they do say that it creates a catalyst to attract drilling partners if required. They already have a convertible loan note outstanding, so my view would be to do nothing here until financing news is released.
I mentioned Reabold Resources at the weekend and its reluctance to disclose production numbers, even though their share price is back down to where it was two years ago and significantly below the price of recent fundraising exercises. They issued another announcement this week stating that drilling operations are commencing for another well in California and blustered on about "significant success with...previous wells," self-funding growth business in California," "uplift in cash generation," etc., but without mentioning one single figure. Despite all the demands from investors, there are still no actual production numbers. There's something wrong here and I'm not the only one who thinks that.
United Oil & Gas returned from suspension on possibly not the best of days with Tullow's simultaneous announcement of its difficulties. Tullow, of course, is co-venturer in UOG's most significant asset offshore Jamaica. Their Egypt acquisition from Rockhopper Exploration turns out to be being financed at 3p, which is nearly half the price of their last placing. I've never been very keen on this company, because like Reabold it's an arbitrary collection of assets and doesn't really appear to have any direction. The ones that do best in the market generally have one big project and 100% focus on it. Share prices also tend to stagnate once companies reach the production stage and dreams turn into realities. The money usually is in the run-up to that point.
Eco (Atlantic) Oil & Gas announced the renewal of its Guyana licence, another one where Tullow is the operator and major interest holder, but everything here comes down to the operating decisions that will be made in January. Will Tullow want or be able to continue is the question.
There's not much good news from the first couple of days of the week, unfortunately. SDX Energy and Caspian Sunrise did also issue announcements, but both were fairly uninteresting. The rest of the week should be better.
I'll be back again at the weekend with another blog and podcast and if you'd like to know more about what I think of all the various companies and where I see some good trading opportunities, then subscribe to the private blog at https://www.oilnewslondon.com/oilman-jim This week, it will be published on Friday to cover any exciting opportunities thrown up by the results of the election and I think it's going to be extremely interesting
Oil Man Jim Company Oil & Gas Podcast, 8th December 2019
December 8, 2019 • 7 MIN
It was another interesting week. Getting the bad news out of the way first, Hurricane Energy (HUR) announced a disappointing well result and the share price fell around 25%.
I mentioned HUR two weeks ago as a gamble for those who prefer to ignore what I say about only going for the "certainties," the small number of shares each year which, absent a "black swan" event, look virtually certain to perform. Hurricane also illustrates the law of diminishing returns as a company develops and requires more capital. It's now trading below the 34p placing price three years ago.
A further North Sea focussed company, I3 Energy (I3E) confused many people with its two RNS announcements on Friday. The first RNS announced that "it is expecting to complete the subscriptions for 14,285,715 new ordinary shares in the Company at 35 pence per share...and expects the admission of the new shares to be on or around 9th December" Unfortunately, certain social media posters either ignorantly or deliberately ignored the first part of the announcement stating that it was "further to its announcement of 8th November," before the latest Liberator well disappointment. This subscription in fact was nothing new. The second RNS announced the receipt of the funds exactly as expected and in line with the legally binding agreements announced on 8 November, thus again nothing new. This, however, was spun by certain parties into a post Liberator fundraising at several times the market price.
Even more seriously misrepresented was I3E's statement that "BP Oil International Limited, funds managed by Lombard Odier Investment Managers group, and James Caird Asset Management...all took up their contractual rights to be granted warrants to subscribe for new ordinary shares in the Company...at an exercise price of 40 pence per share." The spinners falsely interpreted this as BP at al. actually exercising their warrants and paying 40p per share. The truth is that these were simply free extra warrants granted to these parties, pursuant to the terms of earlier agreements. They didn't pay anything.
Overall, I3E ended up 52% on the day and, absent any meaningful news next week, it's going to come back down. Problem here is people relying on a tweet rather than reading the RNS themselves, or reading the RNS and not understanding it. As I've said before, be careful whose tweets you believe.
Another one operating in the North Sea is Cluff Natural Resources (CLNR). I highlighted this at 1.325p last weekend and some strong buying came in Monday. It turns out partly to have been well known oil company investors, David and Monique Newlands, who've bought 3.1%. Still well below the last 1.75p placing price, it's one to think about.
UK Oil & Gas (UKOG) announced an 0.85p placing and the share price has fallen back into the 0.90s. They need extra cash since their co-venturers at Horse Hill (principally Alba Mineral Resources (ALBA)) are considered unlikely to contribute their 14.365% share of current cash calls. Short-term, the UKOG share price is going to come down to the results of the extended well test and the quantity of shares sold by the convertible loan note holders, plus of course the new placees.
Angus Energy (ANGS) now is talking about paying dividends to shareholders. Sadly, there's a long way to go to achieve that; all they actually announced last week is OGA approval for the transfer of the Saltfleetby licence and the appointment of an operator. Big question is, when/if they do get to the point of production and sale, will the company at the plc level actually operate profitably? And then there's the tedious formality of clearing off the £6,226,000 accumulated loss first before they can legally pay any dividends. Remember, someone paid Angus £2.5 million to take Saltfleetby off their hands and they knew what they were doing.
Echo Energy (ECHO) updated regarding its South American assets. Santa Cruz Sur is producing 587 barrels of oil and 11.96 million cubic feet of gas per day net to Echo's interest. Further upside could come from the Campo La Mata x-1 well currently being drilled and the upcoming Campo Limite exploration well. Like Angus, the issue is can they ever actually operate profitably at the plc level and return money to shareholders.
Stablemate Coro Energy (CORO) announced the disposal of its Italian assets to Zenith Energy (ZEN) for £400,000 payable in new ZEN shares issued at more than double the market price. Theoretically, there's a further payment if a certain production target is met, but that's far from certain. I think it's a good deal for Coro, who probably correctly viewed the "assets" as liabilities and it gives Zenith something to talk about for no cash. It's quite interesting to read and compare the perspectives in the two RNS announcements.
Providence Resources (PVR) announced a leadership change. Tony O'Reilly has stepped down as CEO with immediate effect. His position had become untenable after the Barryroe fiasco when the funds failed to arrive and the board now is looking to identify and recruit a replacement. It's difficult to see where this goes now in the current environment, but it's an interesting one and always worth keeping an eye on.
Reabold Resources (RBD) announced an increase in its shareholding in Danube Petroleum to 51%. The problem is that none of these investments have yet been shown to achieve any return and the share price is back down to where it was two years ago, well below the price of recent fund raising exercises. I've been critical of this one for some time and others are now starting to see the problems too. If RBD want to retain credibility they're going to have to disclose production numbers and I'm not sure they're going to be sufficient to satisfy the market.
On a more positive note, Red Emperor Resources (RMP) is back in business. It's signed an option agreement to acquire a large scale Perth Basin oil play in Western Australia. Unfortunately, it's not particularly exciting since they're only talking about acquiring 3D seismic in order for drillable prospects to be matured. They do, however, say that they are continuing to identify and evaluate additional projects that can potentially provide relatively near term, high impact drilling opportunities. With this one, that's what to look out for.
Now, if you’re interested in knowing my actual trading ideas and want to read a more critical assessment of some of these and other companies, then subscribe to the private blog at https://www.oilnewslondon.com/oilman-jim
For those who are not familiar with me, I focus exclusively on small cap oil and gas companies and know this sector inside out. I have been involved in the stock markets (both UK and US) since the early 1980s and understand exactly how the finance and promotion game works. I also have many years’ operational and corporate experience in the oil business, which enables me to see very quickly whether or not these companies are telling the truth. I share my take on companies and the markets and, as those who follow me know, I’m rarely wrong about these matters.
Oil Man Jim Company Oil & Gas Podcast, 4th December 2019
December 4, 2019 • 4 MIN
An interesting start to the week. Getting the bad news out of the way first, Hurricane Energy announced a disappointing Warwick West result and the share price fell around 25%.
I mentioned HUR 10 days ago as a gamble for those who prefer to ignore what I say about only going for the "certainties," the small number of shares each year which, absent a "black swan" event, look virtually certain to perform. Hurricane also illustrates the law of diminishing returns as a company develops and requires more capital. It's now trading around the same price as the 34p placing three years ago.
UK Oil & Gas disappointed investors with an 85p placing and the share price has fallen back into the 0.90s. They need extra cash since their co-venturers at Horse Hill (principally Alba) are considered unlikely to contribute their 14.365% share of current cash calls. Short-term, the UKOG share price is going to come down to the results of the extended well test and the number of shares sold by the convertible loan note holders, plus of course the new places.
Echo Energy updated regarding its South American assets. Santa Cruz Sur is producing 587 barrels of oil and 11.96 million cubic feet of gas per day net to Echo's interest. Further upside could come from the Campo La Mata x-1 well currently being drilled and the upcoming Campo Limite exploration well. Whether they can ever actually operate profitably and return money to shareholders is another matter entirely.
Stablemate Coro Energy announced the disposal of its Italian assets to Zenith Energy for £400,000 payable in new ZEN shares issued at more than double the market price. Theoretically, there's a further payment if a certain production target is met, but that's far from certain. I think it's a good deal for Coro, who probably correctly viewed the "assets" as liabilities and it gives Zenith something to talk about for no cash. It's quite interesting to read and compare the perspectives in the two RNS announcements. The only issue is will the Italian Ministry of Economic Development approve the transfer?
On a more positive note, Red Emperor Resources is back in business. It's signed an option agreement to acquire a large scale Perth Basin oil play in Western Australia. Unfortunately, it's not particularly exciting since they're only talking about acquiring 3D seismic in order for drillable prospects to be matured. They do, however, say that they are continuing to identify and evaluate additional projects that can potentially provide relatively near term, high impact drilling opportunities. With this one, that's what to look out for.
Going back a few days, I highlighted Cluff Natural Resources at 1.325p over the weekend and some strong buying came on Monday. It turns out partly to have been well-known oil investors, David and Monique Newlands, who've bought 3.1%. Still, well below the last 1.75p placing price, it's one to think about.
Now, on Friday 27 December, I'll be sending out a special edition of the private blog highlighting the companies with potentially transformational events coming up in 2020. You may wish to have a copy of this and if so you can take advantage of a first month trial subscription to the private blog for just £23.75 at https://www.oilnewslondon.com/oilman-jim You'll also receive all the usual weekly content including my actual trading ideas with full reasoning, plus all the other interesting material which can't be published here. The subscribe link is also on my Twitter profile page.
I'll be back at the weekend with the full blog and podcast. The next private blog will be sent out tomorrow.
Oil Man Jim Company Oil & Gas Podcast, 1st December 2019
December 1, 2019 • 8 MIN
lt turned out to be quite an exciting week. Global Petroleum (GBP) announced a new prospective resources estimate of 964 million barrels of oil for its petroleum exploration licence 94 in Namibia.
One reservoir is estimated to have best estimate unrisked gross prospective resources of 772 million barrels of oil with a 15% chance of geologic discovery. It's worth a go, yet at the same time it's worth nothing to them unless they can drill it, which will require either a farm-out or a large financing. News of that is still awaited.
Regal Petroleum (RPT) announced a memorandum of understanding to acquire licences in the Ukraine with estimated oil initially in place of approximately 675 million barrels. They intend to appraise the licences with the drilling of up to three wells. Existing 3P reserves for RPT currently are estimated at 3.89 million barrels of oil equivalent, so this transaction, if it proceeds, could represent a very significant uplift. Generally I'm cautious about companies operating in the former Soviet Union, but this now is one to keep an eye on.
More bad news for Providence Resources (PVR) unfortunately. TOTAL have withdrawn from the licence containing the "Avalon" prospect. And there's still no news of a replacement farm-in partner for Barryroe, so the share price just continues to drift lower.
Another Dublin company continues to go in the opposite direction. Petrel Resources (PET) pushed on with its remarkable journey higher, hitting 26.5p last week, up 2,550% from the 1p price at which I stated it as a favourite several times earlier this year. More companies like this in the private blog if you're interested.
Cluff Natural Resources (CLNR) announced that it has submitted multiple applications for additional licences in the latest 32nd UK Offshore Licensing Round. Interestingly, one has been made jointly with an established international operator (I would guess Shell). The blocks applied for contain a number of drilled discoveries, undrilled prospects and leads, which will create a strong pipeline of future drilling opportunities.
They say they're making significant progress on the existing portfolio, in particular the licences which Shell farmed into earlier this year, and they're now working towards a firm well commitment on Selene and Pensacola. With a £19 million market cap and a £15 million fundraising completed over 30% higher than the current 1.325p share price, it's certainly one for the watch list. Their farm out process on the Dewar prospect has generated significant interest and announcement of the completion of this could act as a catalyst.
UK Oil & Gas (UKOG) announced the completion of HH-2z. Extended well test operations are expected to start next week. Stephen Sanderson, UKOG's Chief Executive, is "confident that the 2,500 ft of permeable Portland sweet-spot reservoir section, 70 times that seen in HH-1, can deliver significant rates." What I think we can be confident of is that UKOG will issue the most positive press releases possible. Where this goes now though is very much going to be a function of how much the convertible loan note holders sell.
PetroTal (PTAL) announced a drilling and production update, providing an increased 2019 exit oil production rate of 11,000 - 13,000 barrels a day. They will complete new production facilities towards month end, increasing capacity to 10,000 barrels of oil per day, but expect that the facility will be able to handle in the order of 15,000 barrels per day. This is the first “forward looking” RNS that the company has issued and some are expecting a placing, but let's see.
Union Jack Oil (UJO) finally announced its placing. £5 million is being raised at 0.15p. They and Reabold Resources (RBD) now are funded for two further wells at West Newton, which are expected in the second quarter of next year. The interesting mystery here now is what is going to happen with Humber's share.
Independent Oil & Gas (IOG) announced that henceforth it will be known simply as IOG. The aim is to have a new identity and hopefully put behind controversial associations of the past. It's another one to keep an eye on and once the many loose shares in issue have found more permanent homes, it should start to work its way higher.
88Energy (88E) announced completion of the farmout with Premier Oil (PMO) and approval of the plan of operations for Charlie-1, which is expected to be drilled in February next year. The gross mean prospective resource across the seven stacked targets to be intersected by Charlie-1 is 1.6 billion barrels of oil (480 million barrels net to 88E).
Bahamas Petroleum Company (BPC) now is trying to raise funds from locals to finance next year's drill via the creation of a Bahamas-domiciled mutual fund that will exclusively hold BPC shares. It's quite a novel approach and I imagine people could be interested. It will be fascinating to see how this goes and I'm sure many other companies will be interested in the outcome.
I3 Energy (I3E) announced another disappointing well result, but many obviously knew about it in advance of the market. I said on Wednesday that this one is a rigged deck and unless you're an experienced trader I would suggest leaving it alone. The share price continued to collapse again on Thursday prior to a further announcement of the conclusion of its 2019 drilling campaign (people had been led to believe there might be a fourth well). I now view this as uninvestible.
Longboat Energy (LBE) listed this week. Essentially it's a cash shell looking for a deal. Could be interesting and I'll be looking into it further. Another one that appears to be entering the oil and gas space is MetalNRG (MNRG) which announced the signature of an exclusivity agreement to acquire 75% of an established operating company based in Romania, which owns 100% of an oil and gas concession. No details on this yet, but as they become available I'll share my thoughts.
Finally, Egdon Resources (EDR) announced licence extensions covering the Resolution gas discovery where a Competent Persons Report by Schlumberger reported estimates of mean contingent resources of 231 billion cubic feet of gas. They announced earlier this month an exclusivity agreement regarding these licences with a large internationally recognised exploration and production company and they have until 31 January next year to demonstrate to the Oil and Gas Authority's satisfaction that a farm-in agreement has been fully executed which provides for funding of the licence work programme. It's potentially interesting if they can pull this off.
In closing, if you'd like to know my trading ideas (and as those who follow me know, I'm rarely wrong), then subscribe to the private blog at https://www.oilnewslondon.com/oilman-jim The link is also on my Twitter profile page.
Oil Man Jim Company Oil & Gas Podcast, 27th November 2019
November 27, 2019 • 7 MIN
It's been an interesting first half to the week. Regal Petroleum announced that it has entered into a memorandum of understanding to acquire licences in Ukraine with an estimated oil initially in place volume of approximately 675 million barrels.
They intend to appraise the licences with the drilling of up to three wells. Total 3P reserves currently are estimated at 3.89 million barrels of oil equivalent, so this transaction could represent a very significant uplift. Generally, I'm cautious about companies operating in the former Soviet Union, but this now is one to keep an eye on.
Cluff Natural Resources announced that it has submitted multiple applications for additional licences in the latest 32nd UK Offshore Licensing Round. Interestingly, one has been made jointly with an established international operator (I would guess Shell).
The blocks applied for containing a number of drilled discoveries, undrilled prospects and leads and will create a strong pipeline of future drilling opportunities. They say they're making significant progress on the existing portfolio, in particular, the licences which Shell farmed into earlier this year, and they're now working towards a firm well commitment on Selene and Pensacola.
With a £19 million market cap and a £15 million fundraising completed over 30% higher than the current 1.325p share price, it's certainly one for the watch list. Their farm-out process on the Dewar prospect has generated significant interest and the announcement of the completion of this could act as a catalyst.
PetroTal announced a drilling and production update, providing an increased 2019 exit oil production rate of 11,000 - 13,000 barrels a day. This is the first-ever forward-looking "jam tomorrow" RNS that the company has issued and one has to ask why now?
Independent Oil & Gas announced that henceforth it will be known simply as IOG. The aim is to have a new identity and hopefully put behind controversial associations of the past. It's another one to keep an eye on and once the many loose shares in issue have found more permanent homes, it should start to work its way higher.
I3 Energy announced another disappointing well result, but many obviously knew about it in advance of the market. This one is a rigged deck and unless you're an experienced trader I would suggest leaving it alone now.
Finally, Petrel Resources continues its remarkable journey higher, hitting 21p yesterday, up 2,000%. I highlighted this and stated it as favourite several times recently at around 1p (see https://oilmanjim.blogspot.com and numerous posts on Twitter). More like this in the private blog.
Moving on to the subject of making money in the markets, last time I broadly described the five main groups on social media. To summarise:
First, those with good market knowledge, who have no particular agenda, but enjoy commenting and stating their opinions. This is the group you should try to follow. They do not depend on you buying the shares they mention.
Second, those with good market knowledge, who do have an agenda, but this agenda is possibly only visible to the first group. These ones are very dangerous for your pocket. They will try to inveigle you into buying shares that result in a direct financial reward for them, either by selling you their shares at a higher price than the price at which they bought them, or because they are being paid to promote the stock. Needless to say, these shares are rarely the best.
Third, those with limited market knowledge, but no agenda. Harmless, but they're generally just repeating the views of the first and second groups without discernment, although when they repeat the misrepresentations of group two, that's usually in good faith. They are generally unable to see the difference between groups one and two.
Fourth, those with limited market knowledge, but an agenda. Group two hanger ons, or subalterns, they're minor pumpers and promoters, who become unpleasant when their line is challenged. They have no answers or proper responses (there are none if the stock is a scam), since this group have no actual knowledge, and generally (like group 2 in most cases) they have to resort to ad hominem attacks.
Fifth, those with no market knowledge, who are seduced by the promises and misrepresentations of groups two and four. This is the largest group and feeds groups two and four.
If you're on social media to make money, then the first objective should be to eliminate groups 2 and 4 from your timeline. They're very easy to spot even with no finance/technical experience or knowledge since they have a very clear "tell" which is their inability to answer questions or defend their argument. They simply respond by abusing and insulting anyone challenging - and then post insulting gifs. What they never do is address the actual argument. They ignore the point being made and deflect. Look out for this
To have a clean timeline with genuine stock ideas, it's essential to block these people, otherwise, the constant repetitive posts from them and their aliases can gull you into buying a bad stock. Some are just ignorant, but their comments and opinions are worthless and distracting so it's best just to block them too.
You'll see their modus operandi clearly when someone asks a difficult question, but instead of answering, they ridicule and insult the questioner, posting offensive gifs. Groups of them descend (often just multi accounts of one person) to drown the questioner out. Block the lot of them, you don't want them on your timeline drumming their dodgy symbols into you and making you think that with so many mentioning the stock it must be good. Block scammers ruthlessly and remove them from your timeline, otherwise, their drip, drip, drip of a bad stock idea can lull you into buying it.
Once these people are blocked, you'll have a timeline that while not necessarily the best informed at least is no longer malicious and not full of posters looking to steal your money. I'll move on to part 4 at the weekend when I'll discuss how to follow those who offer meaningful and beneficial input that might actually make you money.
If you're interested in knowing my actual trading ideas and want to read a more critical assessment of some of these companies, then subscribe to the private blog at https://www.oilnewslondon.com/oilman-jim The link is also on my Twitter profile page.
MetalNRG PLC (LON:MNRG) Gold Ridge Update By Stirling Bridge Resources
November 24, 2019 • 6 MIN
We have been following the @StirlingBridgeR (https://twitter.com/StirlingBridgeR) Twitter account and the amount of data, the research we have come across that they have published on MetalNRG PLC (LON: MNRG) Gold Ridge in the USA has been staggering.
Offering a Tenement Mapping and Research Services we could not fail to notice the wealth of information being published. We contacted Kenny who is involved with Stirling Bridge Resources (https://twitter.com/StirlingBridgeR) and he has kindly put together a podcast highlighting some of his personal research.
MetalNRG PLC (LON:MNRG) Rolf Gerritsen, CEO & Christian Schaffalitzky Interview (https://www.share-talk.com/metalnrg-plc-lonmnrg-rolf-gerritsen-ceo-christian-schaffalitzky-interview/)
The ultra high-grade sample from the pillar boulder (https://www.share-talk.com/metalnrg-plc-lonmnrg-gold-ridge-update-2/) , at 115 ounces per tonne, is an indication of the potentially high-grade gold retained in the pillars, and as a near term revenue source pillar processing conducted safely could provide material and early revenue stream for the Company.
Oil Man Jim Company Oil & Gas Podcast, 24th November 2019
November 24, 2019 • 8 MIN
The interesting second half to the week. Petrel Resources (PET) announced that the issue of new shares to friends and business acquaintances of the new control parties has been approved.
It is anticipated that a flow of potential investment proposals now will be offered to the company. I suggested Petrel and stated it as favourite numerous times around 1p earlier this year (see https://oilmanjim.blogspot.com and numerous posts on Twitter) and it closed at 8.75p yesterday, up 775%. There are more shares with this sort of potential in the private blog.
James Parson's "Holy Trinity" had a busy week. Echo Energy (ECHO) announced the commencement of drilling of the CLM x-1 well. This is the first of an expected four-well exploration drilling programme. It's expected to take approximately four weeks, plus a further five to six weeks if logging supports completion. Maybe, at last, they will have success, but so far at ECHO it's been the only failure. Now 2.95p, it's down from 17p . Coro Energy ( CORO) updated on operations at the Tambak-1 well. This was designed to both appraise the Mako gas field and test the underlying Tambak prospect. Appraisal success was a given, but the exploration failed and the shares fell to 2.2p. Sound Energy (SOU) had earlier in the week announced the approval of the environmental impact assessment for a 2D seismic acquisition programme, but the directors' hearts simply are no longer in it.
None of their names was stated anymore in the RNS and the only contact for the company was an email address. I've been critical about all three companies for some time and have been calling SOU down since last year when the price of their so-called "golden tickets" was over 10 times higher (again see https://oilmanjim.blogspot.com and posts on Twitter) , but it still has a market cap of nearly £40 million and plenty of room to fall further .
Eco (Atlantic) Oil & Gas (ECO) recognised the market reaction to their last announcement on the oil quality discovered at Jethro and Joe, and the partners are considering alternatives for further drilling and testing. Crucial will be the further update on the partners' drilling plans for next year to be made in January 2020. I stated ECO as a favourite several times around 80p (see yet again https://oilmanjim.blogspot.com and posts on Twitter) and it subsequently went to nearly £2. ECO is a prime example of why you should never fully believe any of these companies - and always take profits or de-risk. This is a permanent statement in the blog and I really can't emphasise the importance of this enough.
For those who like a gamble (and prefer to ignore what I'm about to say below), Hurricane Energy (HUR) announced the commencement of drill stem testing on the Warwick West well. They will provide an update on initial results of the well, including flow rates and oil type, following completion of this test. Rumour is that they’ve a hit a huge pay zone and odds of a successful test are probably better than evens. Currently, 44.34p, parameters to look at are a 52 week low of 37.84p and a high of 64.5p. UK Oil & Gas (UKOG) too is currently testing, in its case an extended well test of HH-2z. I feel sure they're going to have lots of positive announcements to put out.
Moving on to the subject of making money in the markets, on Wednesday I detailed some of the changes which have come about with advent of social media and concluded with five main points:
First, know where the company is in its operational, financing and promotional cycle. Understanding that unlocks the door to market success, since by entering at the right point you'll always be buying into upward moves. And this is key.
Second, only go for the certainties, even if that just means just 10 or so trades a year. Profits are worth nothing is they're wiped out by losses, the losses have to be eliminated.
One of the most important lessons is that it is not just about the shares you buy, even more importantly it's about the shares you don't buy. You need to control yourself and go only for the certainties, the small number of winners each year that are virtually guaranteed. Only buy when you're absolutely certain and don't let it bother you if you miss a few.
Third, conviction. You must have that so you don't get shaken out of the position.
Fourth, position sizing. No position must be so large that it stops you sleeping at night and fear shakes you out. Choose a position size where even if it goes to zero, you won't be too badly hurt.
Fifth, always de-risk as the price rises, or take profits completely. End upholding the position for free and ride it if you want, but remember that ultimately, these companies' business projects usually fail.
Now, although it's enjoyable and interesting to participate, social media isn't going to help you much with any of above, but since it's such a big source of information for people now, let's stay with the subject for the moment.
I think that anyone new to the market who joins Twitter must find it quite daunting. Thousands of unknown stock symbols and tens of thousands of unknown people (or perhaps let's say accounts) commenting on them. They've no idea who even to follow and no idea at this stage whether their comments are bona fide or bogus. I'm not going to name any names here (that's for the private blog), but it might be useful to broadly describe the various different groups.
First, those with good market knowledge, who have no particular agenda, but enjoy commenting and stating their opinions. This is the group you should try to follow. They do not depend on you buying the shares they mention.
Second, those with good market knowledge, who do have an agenda, but this agenda is possibly only visible to the first group. These ones are very dangerous for your pocket. They will try to inveigle you into buying shares that result in a direct financial reward for them, either by selling you their shares at a higher price than the price at which they bought them, or because they are being paid to promote the stock. Needless to say, these shares are rarely the best.
Third, those with limited market knowledge, but no agenda. Harmless, but they're generally just repeating the views of the first and second groups without discernment, although when they repeat the misrepresentations of group two, that's usually in good faith. They are generally unable to see the difference between groups one and two.
Fourth, those with limited market knowledge, but an agenda. Group two hanger ons, or subalterns, they're minor pumpers and promoters, who become unpleasant when their line is challenged. They have no answers or proper responses, since they have no actual knowledge, and generally they have to resort to ad hominem attacks.
Fifth, those with no market knowledge, who are seduced by the promises and misrepresentations of groups two and four. This is the largest group and feeds groups two and four.
The most money is made by groups one and two, although group one probably sleeps better at night. Group three hovers around break even. Group four makes a little money, but no huge rewards. Group five lose most of their cash quite quickly.
If you do just want tips, then you need to make sure it's only the people in group one you're following and ignore completely the other four groups. The problem you've got is that all you're going to get is a throwaway line with none of the detailed reasoning and without that you're not going to know why you hold the share other than because someone else does and you're not going to have the essential conviction needed to hold and not be shaken out.
I'll move on to the third part next week when as usual there will be a mid-week podcast and both a podcast and a blog at the weekend. If you're interested in knowing my actual trading ideas and want to read a more critical assessment of some of these and other companies, then subscribe to the private blog at https://www.oilnewslondon.com/oilman-jim
CentralNic Group PLC (CNIC) Ben Crawford, CEO Podcast
November 22, 2019 • 8 MIN
CentralNic Group plc (AIM: CNIC) this week announced Update on the acquisition of web services company, Team Internet AG for up to US$48 million and trading update for Q3 2019.
Zak Mir talks with Ben Crawford, CEO about this week's updates.
Acquisition Highlights
· Acquisition of leading domain name monetisation services provider, Team Internet
· US$48m total consideration payable, US$45m is cash, to be funded by an underwritten bond issue
· Expected to be immediately earnings enhancing and significantly accretive in the financial year ending 31 December 2020 before any synergies
· Acquisition a strong fit for CentralNic's stated strategy to derive recurring revenues from domain related technologies
· Significant opportunities to drive cross selling by expanding both customer base and product set
· Team Internet generated US$66.7m of revenue (unaudited) and US$10.6m of Adjusted EBITDA (unaudited) in the 12 months to 30 June 2019
· This acquisition takes the Group to US$198.2m of unaudited pro forma revenue and US$31.8m of unaudited pro forma EBITDA*
· Net debt expected to be US$76m following completion of the Acquisition. Net debt to EBITDA is expected to be 2.4x on completion and is expected to reduce to approximately 2x after the first full year of ownership
· The acquisition is expected to complete in the week commencing 23 December 2019, following the EGM of Matomy Media Group Ltd. ("Matomy"), the parent company of Team Internet
* Based on the latest available publicly announced financial statements of CentralNic and the companies acquired after CentralNic's latest balance sheet date of 30 June 2019
CentralNic Group Plc Trading Update Highlights
· Unaudited revenues of US$77.1m and adjusted EBITDA of US$13.1m for the period from 1 January to 30 September 2019
· The net debt position was US$35.9m as of 30 September 2019, reflecting the issuance of a EUR 50m bond on 3 July 2019 and continued strong cash generation
· The Group, prior to any contribution from the acquisition, continues to trade in line with the high end of analyst expectations
Ben Crawford, CEO of CentralNic, said: "The acquisition of Team Internet is a natural extension of CentralNic's domain sales business and a major step in adding domain related web services to CentralNic's service offering. It is another web-based recurring revenue business that will be significantly earnings enhancing for the financial year ending 31 December 2020."
Oil Man Jim Company Oil & Gas Podcast, 20th November 2019
November 20, 2019 • 7 MIN
PetroTal announced third-quarter results and an operations update. The good news is that current field production reached a new record with the last 30-days averaging over 8,500 barrels of oil per day, with all five oil wells online.
The bad news is that the cash and cash equivalents amount of approximately $40 million stated in the company's RNS dated 21 October was incorrect. The company's actual cash and cash equivalents position as at 30 September was $20.5 million. The CEO, who would have reviewed and signed off the document, surely would have known the company's cash balance, so he's either sloppy or deliberately let the mistake slip through. Either scenario, unfortunately, places a question mark over the accuracy of the company's reporting and creates doubt. I highlighted this at 16p, so there's around a 50% profit to take.
Petrel Resources reminded shareholders of the upcoming Extraordinary General Meeting which takes place tomorrow in Dublin to approve the issue of new shares to private equity investors and friends and business acquaintances of the new control parties. It is then anticipated that a flow of potential investment proposals will be offered to the company. I suggested Petrel numerous times around 1p earlier this year and it closed at 7p yesterday, up 600%. There are more shares with this sort of potential in the private blog.
Sound Energy announced the approval of the Environmental Impact Assessment for a 2D seismic acquisition programme within their permits. The directors' hearts simply aren't in this. None of their names is stated anymore in the RNS and the only contact for the company is questions@soundenergyplc.com (mailto:questions@soundenergyplc.com) . I've been calling this down since last year when the share price was over 10 times higher, but it still has a market cap of nearly £40 million and plenty of room to fall further.
Some of these companies have been making me think further, particularly about their adverse impact on investors. Looking at social media these days, it appears a lot of people are losing a lot of money and I think it might be helpful to examine why and ask whether that actually has to be the case.
Going back in time, prior to the arrival of the Internet, it cost over £10,000 a year to have access to all the information which everyone has available now online for free and, unfortunately, it does not appear this advance has helped most private investors.
Their information sources then broadly were daily and Sunday newspapers, weekly magazines such as the Investors Chronicle, and tip sheets which were sent out by post on a weekly, fortnightly or monthly basis. Virtually all this material was professionally written by financial journalists and, although it was the only information source available to most private investors, at least in the main it was factual.
While these traditional information sources still exist, most investors now either access the source data directly or receive an account of it from others. In doing so, they run the risk of either misinterpreting the information themselves or having the information misinterpreted to them. And that's the charitable case where no one's actively misrepresenting it, which is often the situation these days.
While some private investors have developed their own mastery of the market, with the majority it appears to be the blind leading the blind, with the occasional shepherd leading his sheep to the slaughter. There is no doubt from their own comments that many are losing money - and some are losing a lot.
What should be the benefit of full and equal access to information ironically has turned out to be a disadvantage for many.
Another route to grief is the idea that has sprouted up that anyone can earn their living just trading the market. Of course, a few can, but they are the exception; the rest of the would-be professional traders fail primarily due to ignorance, laziness, greed, lack of market awareness, gullibility and fear of missing out, effectively a desire to be in everything.
There are a number of serious investors, who have a steady approach and overall reap rewards. Unfortunately, the majority, having their attention drawn towards hundreds of generally poor quality companies every day, simply can not see the wood for the trees. A further problem is that accurate comments on social media get buried under the pile of nonsense being posted.
Many are all over the place, some buying a different share every day and each time crystallising additional losses due both to their lack of patience and their lack of conviction. Some that do hold, think their shares are like football teams and support them tribally. Buying the shares that are being most actively promoted, they constantly get hurt by placings, which have been forward sold with guaranteed profit for insiders and virtually guaranteed losses for them.
One of the most important lessons is that it is not just about the shares you buy, even more importantly it's about the shares you don't buy. You need to control yourself and go only for the certainties, the small number of winners each year that are virtually guaranteed. If you see value or advantage in receiving a large number of tips then you probably can't be helped.
My approach is to take one sector of the stock market and master it, an area which you have experience of from your working life or have a genuine interest in is best. Have absolute conviction in what you buy and hold, and if you don't have absolute conviction, don't buy it. Understand why you're buying it now and when you're going to sell it - and, critically, where that company is in its operational, financing and promotional cycle. If you're looking for a short-term trade, then the company needs to be heading for an event. Most importantly, only buy when you're absolutely certain and don't let it bother you if you miss a few. Always realise gains and de-risk. And position size so that even if it goes to zero it doesn't hurt you. That is the way to profits.
Let me know if you're interested in reading or hearing more about this subject and I'll write and record Part 2.
Finishing off, I'll be back at the weekend with another podcast and a blog covering all the week's oil company news. If you're interested in knowing my actual trading ideas and want to read a more critical assessment of some of these companies, then subscribe to the private blog athttps://www.oilnewslondon.com/oilman-jim The link is also on my Twitter profile page
Jon-Paul Doran, CEO of Eco Equity, Pharmaceutical for medicinal cannabis
November 19, 2019 • 11 MIN
Eco Equity is a pharmaceutical company that specializes in producing medicinal cannabis in Zimbabwe and the Caribbean. We speak to Jon-Paul Doran, CEO of the company to learn more about their strategy and what Jon-Paul's views are in the growing sector.
If you would like more information about the company, or interested in investing in them, all information can be found on their website (https://www.eco-equity.com/)
Oil Man Jim Company Oil & Gas Update’s 17th November 2019
November 17, 2019 • 7 MIN
It’s been an interesting week, with some very good news and some very bad. To start off, Savannah Petroleum (SAVP) was able to announce that, at last, it has completed the Seven Energy transaction.
This now gives Savannah a material producing asset base to complement its Niger exploration and development assets, in respect of which it aims to recommence activity in 2020, with expected delivery of first oil from R3 East and a multi-well exploration drilling campaign. This was financed by institutions two years ago at 35p per share and I expect to see the share price now start to work its way up from the current level of 26p.
Reabold Resources (RBD) and Union Jack Oil (UJO) advertised upgraded potential volumes at West Newton in a pre market RNS first thing Monday morning and spiked the early buyers. Union Jack slid down from nearly 30p to under 20p by the end of the week and the coup de grace was delivered just after market close on Friday when it announced that it is in the process of taking market soundings from investors in regard to an equity placing of up to £5 million. Investors are not happy and are hoping that it’s not below the last placing price of 17p. More on what’s going on here in the private blog.
Amerisur Resources (AMER) announced a recommended cash acquisition by GeoPark Colombia. Each Amerisur Shareholder will receive 19.21p cash per share. It’s less than people were hoping for, but significantly higher than the 12.1p price at which the shares were trading before bidding opened. It’s also a small profit for those who bought in the 17s and 18s over the last few months. The board undoubtedly tried for a better price (directors and institutions were in much higher) but South America is not the best place to be right now unfortunately.
Anglo African Oil & Gas (AAOG) reported that it has entered into a rig option agreement, but the rig might not be available until 30 March 2020. Unfortunately, November turned out to be the date for a rig agreement, not the rig arriving as investors had hoped. The problem for them though is that paying for the drill depends on Riverfort selling shares at a higher price than now and how does that situation come about? Slippery language isn’t working anymore for these companies and I see only one way for the Anglo African share price now, which is to decline further. I’ve been warning about this one all the way down from just under 20p and the shares hit an all time low of 2.4p on Friday.
On a brighter note, UK Oil & Gas (UKOG) announced the successful completion of its Horse Hill horizontal drill. A total of approximately 2,500 ft of horizontal trajectory was drilled within the reservoir’s most oil productive zone, which gives around 70 times greater exposure than in the vertical discovery well. This is why HH-2z is capable of delivering significantly greater flow rates than those seen in the vertical well. HH-2z is now being prepared for an extensive extended well test, which is expected to commence in the coming weeks and I expect to see some impressive numbers being reported here soon.
Sound Energy (SOU) announced that James Parsons and Simon Davies have confirmed their decision to leave the Company. This follows on from the announcement that the CFO is leaving and not being replaced. Last week’s announcement was deliberately drafted to make people think the sale of the Morocco assets is a certainty. So, it’s the end game here now and it appears that they’re trying one last ramp before lights out.
Interesting developments at Cadogan Petroleum (CAD). Requisitioning shareholders had an overwhelming majority (93.08% to 6.92%) at the general meeting, thus Adelmo Schenato and Enrico Testa have been removed as directors of the Company with immediate effect, Fady Khallouf, Lilia Jolibois and Jacques Mahaux have been appointed to the board, Zev Furst has tendered his resignation as a director, Fady Khallouf is succeeding Guido Michelotti as CEO of the company and Michel Meeus, a non-executive director of the company and one of the requisitioners, has been appointed as chairman. One of the complaints against the old board is that the company has continuously underperformed and the company’s share price has not materially improved in recent times. The market capitalisation is £13 million and net assets (including around $14 million cash) are nearly $52 million, so there is significant upside here.
Eco (Atlantic) Oil & Gas (ECO) announced an update on the initial analysis of the Jethro and Joe wells and the share price more than halved. This is a prime example of why you should never fully believe any of these companies – and always take profits or de-risk. This is a permanent statement in the blog and I really can’t emphasise the importance of this enough. All I can say in this case is that it is inconceivable that Tullow Oil (TLW) and hence ECO did not know it was heavy oil before the announcement. Remarkably, indeed shockingly, Gil Holzman, CEO, was promoting ECO to private investors at a London South East promotional event the day before. If you believe people can be judged by the company they keep, then him sharing a promotional platform with Matt Lofgran of Nostra Terra Oil & Gas (NTOG) possibly says it all.
Coro Energy (CORO) and Empyrean Energy (EME). announced their Tambak-1 well intersected the intra-Muda reservoir of the Mako field as expected and data have established the well as a successful appraisal of the Mako gas field. The interesting part is coming up for CORO and EME, since their Indonesian well now will be drilled to a total depth of around 4,005 feet to test the potential of the Tambak prospect, which is estimated as having a mid-case prospective resource potential of 250 Bcf and a geological chance of success of 45%. The impact of this drill to date has actually been negative for the share prices of both companies, but perhaps an exploration success can galvanise them.
On the subject of Indonesia, Baron Oil (BOIL) announced that it has entered into a non-binding agreement to acquire SundaGas, which owns the Chuditch Block, offshore Timor-Leste, and the Telen Block, offshore Indonesia. The vendor will receive 66.67% of Baron before the fundraising. There is no indication yet as to what type of financing they will do, for what amount and at what price, so we’ll have to wait for the details to form an assessment. The shares are now suspended pending the publication of an admission document.
Finally, there’s been a lot of interest in the new private blog and some confusion too, so let’s try to clarify everything. Currently, I record two podcasts each week, one mid-week and one at the weekend, and I write a blog on Sunday. All these remain the same, unchanged and free of charge. The private blog contains the information which cannot be published in the public blog and podcasts due to legal constraints and it also includes my actual trading ideas with full reasoning. It is sent out immediately by email as events dictate so you receive the information straight away. There is a charge for the private blog, but I think you’ll find the information within it is worth many times its cost.
For those who are not familiar with me, I focus exclusively on small-cap oil and gas companies and know this sector inside out. I have been involved in the stock markets (both UK and US) since the early 1980s and understand exactly how the finance and promotion game works. I also have many years’ operational and corporate experience in the oil business, which enables me to see very quickly whether or not these companies are telling the truth. It’s not investment advice that I offer and if you want that, you should speak with a financial advisor. I share my take on companies and the markets and, as those who follow me know, I’m rarely wrong about these matters. This is the link to subscribe: https://www.oilnewslondon.com/oilman-jim
In other news, Oilex (OEX) announced an extension of the bid closing date for Cambay, Aminex (AEX) issued a Ruvuma joint statement with Solo Oil (SOLO) who also announced the appointment of an independent non-executive director, Columbus Energy (CERP) announced a medium term funding agreement and the extension of the Inniss Trinity IPSC, SDX Energy (SDX) announced the commencement of production at South Disouq and a directorate change, Predator Oil & Gas (PRD) announced a CO2 EOR Trinidad update, Alba Mineral Resources (ALBA) announced a Horse Hill update, Echo Energy (ECHO) announced the completion of an acquisition, Range Resources (RRL) announced a continuous disclosure update and a Trinidad tax appeals update, Canadian Overseas Petroleum (COPL) announced Q3 2019 results, Touchstone Exploration (TXP) and Serinus Energy (SENX) announced third quarter 2019 results, President Energy (PPC) announced the expiry of Decree 566 and oil prices in Argentina returning to normal, Zenith Energy (ZEN) announced the filing of quarterly results, Lekoil (LEK) announced the acknowledgement of the OPL310 licence extension payment, The Parkmead Group (PMG) announced preliminary results for the year ended 30 June 2019, Cabot Energy (CAB) announced directorate and management changes and Angus Energy (ANGS) announced a Balcombe update.
Ben Dorks, Chief Executive Officer of Ideagen PLC (LON:IDEA)
November 14, 2019 • 5 MIN
Ben Dorks, Chief Executive Officer of Ideagen, commented: I am pleased to report an excellent start to Ideagen's financial year. Our core markets are strong and underpin the demand we have seen this half.
We continue to execute our strategy, delivering growth and investing in the business whilst tightly managing the cost base. The Company has continued to make acquisitions which have further enhanced our global reach, customer base and product capability.
Cash generation has been good which coupled with further growth in new SaaS recurring revenues and an increase in repeat business from our growing customer base provides a strong platform for the second half.
The market opportunity remains large and long term and given the Group's position as a leader in the Governance, Risk and Compliance market, the Board is optimistic about the Group's continued growth prospects."
The Board is pleased to report that trading has remained strong in the first half of the financial year (https://www.investegate.co.uk/ideagen-plc--idea-/rns/trading-update/201911130700051857T/) and that revenue and EBITDA are both expected to be significantly ahead of the same period last year and in line with management's expectations. This has been achieved through both organic revenue growth and the acquisitions of Redland Business Solutions Ltd (acquired in June 2019) and Optima Diagnostics Ltd (acquired in Oct 2019). The Company has a clear strategy to grow revenues organically and maintain high EBITDA margins whilst transitioning from a perpetual licence to a SaaS based subscription model. The successful execution of this strategy will provide an even more robust business model and a higher quality of earnings over the medium term without impacting on the short-term profitability of the business.
The Board considers that the key growth metric for the Group is based on Annual Recurring Revenue ("ARR"). ARR is the value of the Group's contracted recurring revenue book at any point in time, which will be recognised over the next 12 month period.
The Group's ARR has grown by approximately 20 per cent. from £36.4 million on 30 April 2019 to £43.9 million on 31 October 2019. This comprises of acquisition-led growth of £3.8 million combined with organic growth of £3.7 million within the period, representing approximately a 20 per cent. organic growth rate on an annualised basis. Group performance is based on strong customer demand and sales execution in the period and indicates that the transition to a recurring model is progressing successfully and is ahead of schedule.
Total organic revenue growth in the period was 7 per cent. which, in the context of an accelerated SaaS transition, represents a strong performance. Recognised Recurring revenue is expected to be approximately 74 per cent. of total revenue and is expected to rise to over 80 per cent. in the next full financial year.
The Company continues to compete and win new business within the UK and international markets reflecting the Company's global expansion. During the period, the Company won over 240 new customer logos including Emirates Airline, Emirates Catering, Alexander Hall, Mallinckrodt Pharmaceuticals, Freightliner, Vietjet Air, Mylan Pharmaceuticals and Royal London.
At the period end the group had net debt of £18.2 million (30 April 2019: net debt of £1.3 million) after spending £19.8 million on acquisitions. Operating cash generation in the period remained robust and in line with the Board's expectations.
Oil Man Jim Company Oil & Gas Podcast, 13th November 2019
November 13, 2019 • 2 MIN
Reabold Resources and Union Jack Oil started the week advertising upgraded potential volumes at West Newton in a pre-market RNS.
After spiking the early investors, the shares moved down once the small print was digested. To quote: "The information contained herein is the Operator's internal assessment of hydrocarbons in place and should not be construed as an indication of ultimately recoverable resources in accordance with an internationally recognised standard." There's no flow test either. That was previously cancelled.
Anglo African Oil & Gas announced that it has entered into a rig option agreement, but the rig might not be available until 30 March 2020. Unfortunately, November turned out to be the date for a rig agreement, not the rig arriving as investors had hoped. The problem for them though is that paying for the drill depends on Riverfort selling shares at a higher price than now and how does that situation come about? Slippery language isn't working anymore for these companies and I see only one way for the Anglo African share price now, which is down.
Sound Energy announced that James Parsons and Simon Davies have confirmed their decision to leave the Company. This follows on from the announcement that the CFO is leaving and not being replaced. Yesterday's announcement was deliberately drafted to make people think the sale of the Morocco assets is a certainty. So, it's the end game here now and it appears that they're trying one last ramp before lights out.
I'm sorry if all of the above is negative, but that's what we've had this week and I'm not even including Eco (Atlantic) which I will cover in the Saturday podcast.
Finishing on a brighter note though, UK Oil & Gas announced the successful completion of its Horse Hill horizontal drill. A total of approximately 2,500 ft of horizontal trajectory was drilled within the reservoir's most oil productive zone, which gives around 70 times greater exposure than in the vertical discovery well.
This is why HH-2z is capable of delivering significantly greater flow rates than those seen in the vertical well. HH-2z is now being prepared for an extensive extended well test, which is expected to commence in the coming weeks and I expect to see some impressive numbers being reported here soon.
Moving forwards, news from all the other companies who made announcements last week will be covered in the
Cathal Friel, Chief Executive Officer of Open Orphan (LON:ORPH) Update
November 11, 2019 • 5 MIN
Preferred Partner Agreement
Cathal Friel, Chief Executive of Open Orphan commented:
"When we completed the reverse takeover of Venn earlier this summer we promised shareholders that one of our key objectives would be to transform Venn into a profitable pharma services company.
This partnership is the first of many steps to make Venn profitable and deliver a re-rating of the business to be in line with the wider sector. I look forward to announcing more positive news in due course."
Open Orphan, a European-focussed, rare and orphan drug consulting services platform company, is pleased to announce the signing of a preferred partner agreement between Open Orphan and Ipsen Group ("Ipsen").
The agreement selects Venn Life Sciences ("Venn"), which is part of the Open Orphan group, as the preferred partner for Ipsen's Data Management and Biostatistics. The preferred vendor structure will last for a 3-year period. This partnership has already delivered substantial revenues for the Open Orphan group and positions the business as an integrated drug development partner for Biopharma companies in Europe such as Ipsen.
The partnership is part of Open Orphan's strategy to transform Venn Life Sciences and is expected to be one of many long-term partnership contracts which is expected to deliver recurring revenues for the business. Open Orphan's aim is to transform Venn through restructuring the business to reduce operational leverage, increase revenue, improve operating margins and launch additional complementary services.
Notes to Editors on Open Orphan:
Open Orphan plc is a European-focused, rare and orphan drug consulting services platform. The Company intends to roll up a number of pharma services businesses across Europe. Open Orphan has two data driven digital platforms, a Genomic Health Data Platform, which is establishing one of Europe's largest rare disease genomic database and a Virtual Rep platform enabling pharmaceutical companies to engage key opinion leaders and physicians. The Company is targeting rapid growth in one of the fastest growing sectors in the global pharmaceutical industry targeting under-supplied treatment for life threatening or very serious diseases and rare disorders.
Notes to Editors on Ipsen Group:
Ipsen is a global biopharmaceutical group dedicated to improving lives through innovative medicines in Oncology, Neuroscience and Rare Diseases. It has a well-established and successful Consumer Healthcare business. It is also committed to discovering new solutions for targeting debilitating diseases and improving the quality of life for patients.
Oil Man Jim Company Oil & Gas Podcast, 9th November 2019
November 9, 2019 • 3 MIN
I3 Energy issued a positive RNS. The Liberator A2 well has been spud, the Company has agreed to issue £5 million of equity to funders of i3's junior loan notes at a price of 35 pence per share.
To provide additional flexibility to extend the drilling programme, and the funding long stop date by which the Company was required to enter a reserve-based lending facility or to source alternative development financing has been extended from 6 December 2019 to 30 April 2020. On the minus side, Lombard Odier continues to sell down, but once they're clear, I see the share price moving higher. Overall, at this level, to me, it's a buy. Although always remember that in the oil business, nothing is risk-free.
Sound Energy issued a hollow-sounding RNS. The company has now entered into non-binding heads of terms agreement with a privately-owned, UK registered company and has granted this company an exclusivity period expiring on 14 February 2020. The announcement was not received well and, after the last "keep the lights on" placing a few months ago at 10p, the share price has now dropped under 5p and the market capitalisation has dropped under £50 million. I remember receiving a huge amount of criticism for questioning the merits of Sound Energy last year when it had a £450 million market cap. It was so obvious even then that it was questionable, with its pompous behaviour and the pretence that the team were somehow leading experts. The rot has also spread through the other members of their so-called "holy trinity" (Echo Energy and Coro Energy) all of which were marketed to the gullible in an almost show business manner, resulting in huge investor losses. I warned about them all - all the way down and you can read what I said in the archives at Blogger. Back to Sound, we don't actually know who the private company is which is meant to be buying the Moroccan assets, or whether it even has any money, but one thing's for sure, they'll use this announcement to do another placing and keep paying their six and seven-figure salaries.
Pantheon Resources issued an equally insincere announcement. Reading between the lines, it doesn't sound like they're going to be drilling this winter and in reality, I'm not sure they're ever actually going to farm out leases to which Halliburton publicly attached no value at all. I like the line in the RNS in relation to the progress of the farm-out when they say that they "simply cannot discuss it," in which case why even bother issuing an announcement?
Savannah Petroleum issued a Seven Energy transaction update. Final long-form documentation in relation to the Seven Energy Group financial restructuring has been agreed and next up is a court hearing on 13 November at which Seven Energy International Limited will request the appointment of administrators in order to effect the transfer of the Seven Assets to group companies controlled by Savannah and AIIM. Currently trading around 26p, institutions financed this deal at 35p a share two years ago and since then Savannah has had significant drilling success in Niger. It's one that I see trending up.
Finally, Baron Oil noted the provisional award of the Timor-Leste offshore Chuditch Petroleum Sharing Contract to SundaGas. Baron is entitled to be issued a 33.3% shareholding in the intermediate parent company of SundaGas and, according to Executive Chairman, Malcolm Butler, this has the potential to add significant value to Baron and its shareholders. Could this now be the new lease of life for BOIL?
Moving forwards, news from all the other companies who made announcements last week will be covered in the Sunday blog and I'll be back mid-week with another podcast focussed on whatever interesting looking.
Oil Man Jim Company Oil & Gas Podcast, 6th November 2019
November 6, 2019 • 3 MIN
UK Oil & Gas started the week with a Horse Hill update. So far they've successfully drilled 2,016 ft within the Portland reservoir's most oil productive zone.
It's a clever PR, because the news over the weekend was that of a rig engine fire. They're fitting a new rig engine now, expected to be completed over the coming days, then the remaining 1,200 ft horizontal section will be drilled.
Drilling is expected to be completed by mid-November, at which point they will immediately complete, clean-up and flow test the well. The share price is still held back by Riverfort selling, but as this eases up I expect UKOG to go higher.
Rose Petroleum announced a placing to raise £1.25 million at 1.1p.
The directors are buying a 10% interest in a 317-acre lease from themselves, but it actually equates to just a 2.217% working interest in the spaced drilling unit. There's no mention of the net revenue interest either. At say 75%, they would receive only 1.66275% of revenues before state severance taxes of 6.6%. So, net 1.553%.
It's interesting they don't mention the word "shale" in the RNS, an area in which US companies are trying to divest. And it's also worth remembering that these US projects which show up in London these days usually are doing so because they can't raise funds in North America.
Bahamas Petroleum Company announced it had raised $11.4 million at 2p per share via a placing and open offer. However, the Company's present estimate of the total cost for the drilling of the initial exploration well is in the range of $20 million to $25 million and they warn that and I quote "in circumstances where suitable funds are not raised via the Conditional Convertible Notes, or if a farm-out is not secured, the Company would likely not have sufficient cash to complete the drilling of the planned initial exploration well in 2020." As I've said several times before, I wouldn't consider this until the well is fully financed. If it isn't drilled next year, they lose the licence.
IGas Energy has had a difficult few days following the announcement that the UK Government has announced a moratorium on "fracking" in Britain. The shares hit a low of 21.5p on Monday before stabilising in the low 30s, at which price the company is capitalised at around £40 million.
Some say the moratorium is only for the duration of the election campaign, but check out the actual betting odds for the general election and the favourite odds-on outcome now is no overall majority / a hung parliament. Does anyone really think that a Labour/LibDem/Green coalition would reinstate "fracking"?
There's also been an interesting development at Cabot Energy, which announced the proposed cancellation of its AIM admission next month. On Monday, Eric Krafft of Monaco bought 10.96% of the company. The share price now has stabilised around 2p and further news is awaited with interest. Perhaps it's not all over yet?
Moving on, news from all the other companies who have made announcements so far this week will be covered in the Sunday blog and I'll be back on Saturday with another podcast focussed on whatever interesting looking news comes out in the meantime.
Oil Man Jim Company Oil & Gas Podcast, 2nd November 2019
November 2, 2019 • 3 MIN
Let's start with Block Energy, which announced the completion of drilling at well 38Z. They say that field observations at the well site indicate multiple natural fractures, and oil shows were encountered during drilling.
But this isn't meant to be an exploration drill, the only issues here should be flow rates and water cut, so the choice of words may to some be concerning. Anyway, Jon Fitzpatrick of Glasgow must like it: he's just bought 3.8% of the company.
Echo Energy announced that the location for the first well of its four-well exploration programme has been selected and construction works are now being finalised. They expect drilling to commence on schedule during December, possibly before. As an investment, the company has been a disaster, but let's see if this time it can break its run of constant bad luck.
RiverFort Global Opportunities issued an investment update. It's not an oil and gas company as such, but finances many of the smaller ones by taking convertible loan notes. The current client list comprises Savannah Petroleum, UK Oil & Gas, Anglo African Oil & Gas (via an investor sharing agreement in its case) InfraStrata, Angus Energy and Ascent Resources. If you're into these type of companies, then you can get in on an even better basis through RiverFort, since its net asset value of 0.113p per share is 50% more than the current share price of 0.075p. And with RiverFort holding convertible loan notes and investor sharing agreements, it doesn't really have any downside risk.
Tower Resources announced an operational update. It's signed a contract for the site survey at the intended well location on the company's license in Cameroon and hopes this is the final operational step before commencing drilling operations. The well, of course, is subject to financing and the key news here will be that of a farm-out. Let's see.
Cabot Energy offers a cautionary tale. It has announced the proposed cancellation of admission of its Ordinary Shares to trading on AIM on Tuesday 3 December and the shares which were as high as 16p in the last year have collapsed to 1.5p bid. This is a risk for all small public companies with a majority shareholder, who no longer sees a commercial advantage to a stock market quotation, and helps to illustrate why some small oil and gas companies appear to the unwary to be unexplained bargains.
Finally, the new investors at Petrel Resources want to increase their stake to 51%. Thereafter, it's anticipated that a flow of potential investment proposals will be offered to Petrel. I mentioned this company as a buy a few times at around a penny and it shot up to nearly 10 p. The big initial profit has been had here, but it's always worth keeping an eye on this.
Moving forwards, news from all the other companies who made announcements last week will be covered in the Sunday blog and I'll be back mid-week with another podcast focussed on whatever interesting looking news comes along in the meantime.
Oil Man Jim Company Oil & Gas Podcast 30th October 2019
October 30, 2019 • 3 MIN
I've mentioned Independent Oil & Gas positively several times recently both in the blog and on the podcast and they issued an excellent RNS on Monday confirming progress.
As anticipated, they announced the completion of the farm-out transaction with CalEnergy Resources and the final investment decision on phase 1 of the core project, comprising 410 billion cubic feet of 2P+2C reserves and resources across six discovered UK Southern North Sea gas fields. The core project is projected to deliver over half a billion pounds in pre-tax cash flow net to IOG and, with the shares still trading below the 20p offered by RockRose Energy (more on them later), I think there's still quite a lot to go for with IOG.
Not such good news for shareholders at Reabold Resources, unfortunately. Certain legal and administrative issues have caused a delay in entering into a binding equity swap agreement with the Rathlin shareholders. Indeed, after completing a 24 million pound placing in anticipation, they now say there can be no assurance that the proposed equity swap will even be completed.
The shares fell below the 0.9p placing price on the news, but somehow I don't think that will be of much concern to many who took part in the placing, who are suspected to simply have been covering short positions taken out at much higher prices.
It's bad news though for those who paid up to 1.75p in all the manufactured excitement and now have lost half their money and, ironically, many will have bought their shares from those who were forward short selling in anticipation of the placing, even later leaking news of it to force the share price down further for maximum profit. The worst thing is, this seems to happen every time there's a placing at Reabold, which is quite often.
I3 Energy has become another leaky ship. Its shares rose over 50% in the 3 days before the announcement of the Serenity oil discovery. Anyway, it was a strong announcement and nearly doubled the share price before the details started to be examined.
The concern is that progression of the reserve-based lending facility necessary to develop Liberator will require successful drilling at Liberator and the Company is obligated to enter this facility no later than December 2019 in order to remain in compliance with the terms of its junior loan note facility.
On the bright side, RockRose Energy also issued an RNS noting the announcement made by I3E and stating that it will be working to understand fully the implications for the Tain development project in which RockRose has a 50% interest, including the possible impact on potentially recoverable volumes. This, of course, has led to takeover speculation and what can be said with certainty is that the I3 share price will remain highly volatile.
Finally, Columbus Energy Resources announced the grant of Ministry approval for its Saffron prospect spud. The well is targeting 77 million barrels of oil and is expected to take approximately 30 to 45 days to complete and evaluate. With a market cap of 31 million, it's worth checking out. There could be some upside here.
Moving on, news from all the other companies who have made announcements so far this week will be covered in the Sunday blog and I'll be back on Saturday with another podcast focussed on whatever interesting looking news comes out in the meantime.
Global Energy Metals Corp (TSXV:GEMC) Mitchell Smith Update
October 29, 2019 • 12 MIN
Mitchell Smith, CEO & President of Global Energy Metals Corporation, takes the time to update Share Talk on the progress the company has made over the past 6 months. He also provides his insight into the share price, a recent journey to South Korea on a Canadian government led trade and investment mission, as well as being able to take part in the CRU Ryan's Notes Ferroalloys 2019 conference.
We touch upon the new drone surveying technology the company is using in Nevada, and what he believes is the future for the eMobility revolution.
Oil Man Jim Company Oil & Gas Podcast 26th October 2019
October 26, 2019 • 3 MIN
There's no need for foul language and raging tirades in this podcast, so let's just start with Petro Matad, which announced results of testing at Heron-1.
Peak production recorded during the test was 821 barrels of oil per day (https://www.share-talk.com/petro-matad-ltd-lonmatd-results-at-heron-1-70-metre-oil-column-in-the-well/) and through the period of the test, the well flowed at an average rate of 200 barrels of oil per day. The company will next engage with the Mongolian government to secure an exploitation licence in order to be able to put Heron-1 on to production in 2020 and pursue the development of the discovery.
They hope to secure the tenure of a development area in Block XX with a view to transitioning Petro Matad from explorer to producer with revenue generation. It could be good, but all this (and the postponed exploration of Block V) has to be financed, so there's almost certainly a large placing coming up.
Eco (Atlantic) Oil & Gas provided a Guyana operational update. Multiple prospects currently are being reviewed with further high graded candidates under consideration for a 2020 drilling programme. Hannam & Partners have calculated an un-risked value of £12 a share and for the 5 most material prospects a risked net asset value of 216p a share. Eco is fully funded for their current planned activity and, interestingly, Hannam & Partners think management would sell for the right price.
Angus Energy suddenly decided they needed to provide for decommissioning liabilities, in particular, £1.25 million for the Saltfleetby field, which they got for "free." They're financing all this with a £1.5 million convertible loan note facility (https://www.share-talk.com/angus-energy-plc-lonangs-decommissioning-liabilities-and-associated-funding/) from Riverfort Global Opportunities, who of course will now just start selling shares. It's a strange, rather contrived sounding announcement they’ve put out and somehow I think there's a bit more to this story.
Red Emperor Resources issued its quarterly report. They’ve appointed a new man, John Begg, and are now conducting due diligence on a number of new projects. Cash currently is approximately equal to market capitalisation. I'm sure that a new deal will go in and they'll ramp it, so it's perhaps not a bad speculative opportunity at this level.
Finally, it might be worth keeping an eye on Cadogan Petroleum, which announced a general meeting on 15 November to consider resolutions proposed to remove certain directors. The requisitioners are not happy with the company’s share price, which is not an unreasonable position when net assets are stated at nearly $52 million and the market capitalisation is only £12 million. It could be interesting.
Moving on, news from all the other companies who made announcements last week will be covered in the Sunday blog and I'll be back mid-week with another podcast focussed on whatever interesting looking news comes along in the meantime.
Leon Coetzer, CEO Jubilee Metals Group (LON:JLP) Interview
October 25, 2019 • 5 MIN
Chief Executive Officer Leon Coetzer talking with Zak Mir after the announcement that the company has entered into a Framework and Tailings Purchase Agreement (https://www.share-talk.com/jubilee-metals-group-lonjlp-acquisition-at-hernic-transforming-operations/) (“Tailings Agreement”) with K2018239983 (SOUTH AFRICA) (PTY) LTD (“NewCo”).
Acquisition at Hernic of 100% PGM Earnings: Transforming Operations
Highlights
á Agreement with NewCo, the world’s largest Ferrochrome producer, to extend Jubilee’s rights to 100% of all PGM earnings from current and future tailings at Hernic, gaining full control of the large-scale operations
á Agreement transforms Jubilee’s Hernic operations from a contracting joint venture partner to 100% owner of the economic rights without additional risk to the Company
á Acquires all rights to a further circa. one million tonnes of PGM rich material located close to its Windsor chrome operations
á By gaining full control of the operation, has the opportunity to increase throughput, further optimising certain aspects of the operation and enhancing earnings significantly
á Enters into a further exclusive agreement with NewCo whereby under NewCo’s election Jubilee may also acquire all chrome rights to the chrome contained in the current tailings at Hernic offering significant further earnings upside to the project
Leon Coetzer, Chief Executive Officer, says: “I am delighted to have secured this transaction with NewCo which essentially transforms Jubilee from processing joint venture partner to owner of the surface tailings and associated chrome and PGM recovery operations. We could not have asked for a better partner for our ongoing operations than a company that forms part of the largest ferrochrome producer in South Africa. Our highly successful Hernic Project is the largest of its kind in the chrome industry and is a fitting partner to such a renowned company.
“The transaction extends our rights to 100% of PGM earnings from current and future tailings at a time when the project is delivering record earnings reaching GBP 1.41 million for the month of September 2019 on the back of improved operational efficiencies and buoyant PGM basket metal prices. Under the previous agreement this would have brought forward the point at which the majority of earnings would be due to Hernic, Jubilee having reached a 30% return on investment.
“The transaction includes significant further PGM rich material at surface to be immediately processed via our Windsor PGM project. The option to add the chrome rights to our project holds the potential to significantly increase the earnings of the project, currently all chrome concentrate produced by our project is returned to Hernic for its own use or sale to the market. If implemented the option could add a further 8 000 to 10 000 tonnes of chrome concentrate to Jubilee’s existing chrome production.
“This agreement is yet another significant milestone in our on-going development strategy to grow and diversify our earnings base. We continue to make exceptional progress across the portfolio which I look forward to updating shareholders on in due course.”
Oil Man Jim Company Oil & Gas Podcast 23rd October 2019
October 23, 2019 • 3 MIN
PetroTal completed its first horizontal well and announced an initial four-day production rate of 6,200 barrels of oil per day.
It's already spudded its second horizontal well and is aiming for production of 10,000 barrels of oil per day by the end of the year with 20,000 barrels of oil per day targeted by the end of 2020. Market cap is currently £116 million, which actually isn't expensive at all if these objectives can be met.
Block Energy is another company drilling horizontal wells, but with rather less success. It announced an operations update and claimed to have successfully cemented casing at the 38z well. Completion of drilling operations is expected in around two weeks, so we should soon see whether they've been able to prevent fluid incursion, which comprised most of the claimed "production" at their previous well, 16z. Block plans to sidetrack three other wells, test one of the field's gas discoveries, and drill a new gas well, so this does have potential, but it's going to need to recover investor credibility.
UK Oil & Gas announced the commencement of its horizontal drilling operations. HH-2z aims to deliver a circa 3,200 ft horizontal section wholly within the Portland reservoir's most oil productive zone. The well is expected to reach its total depth around mid-November and be producing by year end. I reckon it could be good for over 1,000 barrels a day.
88 Energy announced its quarterly report and confirmed that the Charlie-1 well is to be drilled and tested in the first quarter of 2020 using the already secured Nordic-Callista Rig-3. This is a big one: total gross mean prospective resources across the seven stacked targets to be intersected by Charlie-1 are 1.6 billion barrels of oil, 480 million barrels net to 88E. As the placing shares from last month clear, I would expect to see this move higher.
Finally, more nonsense with Anglo African Oil & Gas, who announced a non-binding indicative term sheet for an agreement which, if it were to complete and on bringing well TLP-103C into production, would provide up to 25 million dollars in offtake and prepayment financing. Unsurprisingly, their audience didn't read beyond the headline, wrongly interpreted this as financing of the drill and got spiked. The financiers, Riverfort and YA II almost certainly will have been selling into this volume, but whether they can sell sufficient shares at a high enough price to finance the drill is another matter entirely.
Moving on, news from all the other companies who have made announcements so far this week will be covered in the Sunday blog and I'll be back on Saturday with another podcast focussed on whatever interesting looking news comes out in the meantime.
Oil Man Jim Company Oil & Gas Podcast 19th October 2019
October 19, 2019 • 3 MIN
Many drills now are underway and getting the bad news out of the way first, Petro Matad announced further disappointing drill results at Gazelle-1.
They say they are casing it pending further evaluation, but in reality, it appears to be non-commercial. They also say well testing at Heron-1 is costing more than expected, so they're postponing their plans to return to drill in Block 5 during 2019. I think placing can be expected.
Petro Matad's current drilling programme may now have finished, but on the bright side, I3 Energy, UK Oil & Gas, Alba Mineral Resources, Coro Energy, Empyrean Energy and Falcon Oil & Gas all continue to drill.
Next up per their announcements will be 88 Energy, whose Alaska well is planned for February next year and it's a big one targeting 1.6 billion barrels. Looking at the list, UKOG and 88E would be my favourites here.
Another company hoping to drill in Alaska either this winter or in spring next year is Pantheon Resources, who want to drill a minimum of two wells, subject to completion of a successful farm-out. Therefore, assuming they actually have valuable acreage attractive to a farm-in partner, it was rather surprising to see them announce that Halliburton will transfer their entire working interests in the leases to them in exchange for Pantheon accepting responsibility for future lease obligations.
It appears that Halliburton views the Pantheon acreage as having no value at all, in fact being more of a liability than an asset. This isn't really a surprise to those who follow this company, but how on earth does it continue to maintain a £90 million market cap? The most interesting question is who supports the share price of this company - and why?
Bahamas Petroleum Company posted its open offer circular to shareholders. The offer is 1 new share in the company for each 5 shares held, at a price of 2 p per share. 338 million new shares are being offered and they're hoping to raise 6.8 million pounds.
Key here and the actual purpose of the offer in my opinion having previously denied they were planning a placing to institutional shareholders, is that in the event not all of the shares offered in the open offer are subscribed for by shareholders, they will seek to place any unsubscribed shares.
I think they're hoping that the shorts will take it up to cover. If not, the placing is underwritten for 1 million dollars, so at least the management get to keep paying their salaries. My opinion on Bahamas Petroleum remains the same. Wait and see if they actually can raise the funding for their drill and review the situation then.
Tower Resources, which I mentioned as a good bet on Wednesday, saw a decent amount of buying as a result with the share price firming up over 0.4 p. Tower is also issuing 50 million shares in lieu of fees and, with an admission of the first tranche of placing shares and the fee shares taking place on Monday, we could be seeing some of this stock hit the market next week. If the price comes back under 0.4 p, that could offer another good buying opportunity. Down at this level, I think the odds are probably very much in the buyer's favour.
Moving on, news from all the other companies who made announcements last week will be covered in the Sunday blog and I'll be back mid-week with another podcast focussed on whatever interesting looking news comes along in the meantime.
Oil Man Jim Company Oil & Gas Podcast, 16th October 2019
October 16, 2019 • 3 MIN
There's no 30 minutes of waffle and paid-for opinion in this oil and gas podcast, just 3 minutes or so of fact-based reality, so let's start with Rose Petroleum, which announced an 85% reduction of their Paradox acreage from around 80,000 acres to 12,000 acres to save on annual lease rental costs.
They still retain the key drill site, but Rose is already in this deal on a promoted basis, paying 100% of the well cost for a 75% interest in the acreage, so although they talk about it, it's difficult to see a further farm-out.
And since previous management couldn't raise the funds to drill this project, why should the new? The current management talk of new deals, but still have no details - and the big unanswered question, of course, is how are they going to raise the finance both for any new ventures and for Paradox?
On to more positive matters, 88 Energy announced it had executed a rig contract for the upcoming drilling of the Charlie-1 appraisal well on the Central North Slope in Alaska. The spud of the well is planned for February 2020.
Currently, this is the only major financed drill coming up and it should attract a lot of attention, particularly with the huge numbers being touted. They're claiming an unrisked prospective oil resource totalling a gross mean of 1.6 billion barrels of oil in all the horizons they expect Charlie-1 to intersect, of which 480 million barrels of oil is the net means to 88E.
There was a placement last month of 540 million shares at an equivalent of 0.7p and, once those shares have churned, I would expect this to start moving higher
UK Oil & Gas announced the successful completion of HH-2 coring operations at Horse Hill. The 240 ft core has clearly identified the Portland reservoir's most productive zone or "sweet spot", the most porous and permeable vertical zone within the oil pool, which will now be the target of the planned 1,000 m HH-2z horizontal trajectory, expected to commence next week, which will be drilled wholly within the most oil productive part of the Portland, the zone capable of delivering the most significant flow rates.
UKOG Log samples
The core is now at a laboratory, where a geological and petrophysical analysis is underway and results of analyses that directly impact the field's possible increased oil in place and recoverable oil volumes will be reported soon. So far, UKOG has been delivering strong announcements ahead of schedule and all is looking good for a strong move upwards in the share price before the end of the year.
Finally, Tower Resources announced another placing at the lowest price yet of 0.325p. Drilling of the NJOM-3 well is entirely dependent on a farm-out, but with the Chairman & CEO putting up nearly half of the £1.5 million being raised, he must be fairly confident. It's a gamble, but I'd say not a bad bet.
Moving on, news from all the other companies who have made announcements so far this week will be covered in the Sunday blog and I'll be back on Saturday with another podcast focussed on whatever interesting looking news comes out in the meantime.
Open Orphan PLC (LON:ORPH) Maurice Treacy, Chief Commercial Officer
October 15, 2019 • 7 MIN
Open Orphan signs agreement with Empiric Logic
Open Orphan, a European-focussed, rare and orphan drug consulting services platform, is pleased to announce it has signed a new strategic collaboration agreement ("the Collaboration") with Empiric Logic to build on the earlier work performed by Open Orphan and complete the build out of Open Orphan's Health Data platform, Europe's first rare disease, advocacy-led genomic database.
Empiric Logic, a leading managed software service company which provides software to the Life Sciences, Pharma, Pharma Services and Biotech sectors, will incorporate its propriety, privacy preserving, and artificial intelligence enabled software into Open Orphan's Health Data platform to aid the collection and management capabilities of the software.
The Collaboration is the final stage in the completion of Open Orphan's Genomic Health Data platform and will speed up its launch. The platform builds on the genomic analysis, database architecture know-how and prior professional experience between the founders of Empiric Logic and Maurice Treacy, Chief Commercial Officer at Open Orphan.
Cathal Friel, Chief Executive of Open Orphan commented:
"This is an exciting step towards the completion of our genomic Health Data platform, and we are delighted to have Empiric on board to help us quickly and securely become one of the largest databases of rare disease patients in Europe."
Gareth O'Sullivan, CEO at Empiric Logic commented:
"Empiric Logic is delighted to be supporting the Open Orphan team with the final steps of preparing the Genomic Health Data platform to accept first data.
As part of the rollout of the Open Orphan database, it will be making substantial use of our artificial intelligence capabilities, such as for identification of rare-disease genetic mutations, but also for the potential identification of patients for clinical trials going forward."
Oil Man Jim Company Oil & Gas Podcast, 12th October 2019
October 12, 2019 • 3 MIN
The fun and games continue at Bahamas Petroleum. Having failed to raise the necessary $20 - 25 million at a rumoured 1p, on Thursday it announced an open offer to raise £7 million at 2p, probably hoping that shorts would cover by taking the placement of the unsubscribed open offer shares.
It's now trading back under 2p, so it looks unlikely that either existing shareholders or shorts, if any, will be subscribing. My opinion remains unchanged. Wait until they are fully funded and look at them then.
Europa Oil & Gas announced the final results. As expected they made a loss, but the important thing is they have sufficient cash to keep going and the numbers don't really matter that much anyway, because it's all about whether they can farm-out one or more of their portfolio of licences.
Most interesting is Inishkea, where they are focusing on being in a position to drill at the earliest opportunity. They say they are in farmout discussions with a number of parties, including a major oil company, with whom they previously announced that they had negotiated a farm-out.
Who knows what the truth is here, but any farm-out by Europa would propel the shares significantly higher.
Amerisur Resources announced a strategic review and an update on their formal sale. They say that multiple well-funded parties are engaged in the process.
Revised bidding instructions have now been issued to interested parties, inviting firm proposals to acquire the entire issued share capital of the company.
They are seeking to conclude the formal sale process before the end of they year. Trading just a penny over the previous offer level of 17p, it could be an interesting bet.
UK Oil & Gas announced that coring operations are underway at Horse Hill. The coring programme has been increased from three to a total of four 60 ft cores, covering the full 240 ft Upper Portland reservoir sequence.
The first 60 ft core was successfully landed at surface yesterday morning and operations to cut the second core are in progress, with the full programme expected to be completed next week.
The additional 60 ft core number 4 is in response to the receipt of a revised Horse Hill-1 petrophysical interpretation from Petroscale in Houston, Texas, which indicates that the field's oil-water contact may be significantly deeper than previously recognised.
If correct, the deeper oil-water contact would increase the field's oil in place and recoverable volumes, potentially significantly beyond those previously reported. UKOG holds an 85.635% interest in the Horse Hill oil field and Alba Mineral Resources has an 11.765% stake in Horse Hill too. Both companies have significant upside.
Moving on, news from all the other companies who made announcements last week will be covered in the Sunday blog and I'll be back mid-week with another podcast focussed on whatever interesting looking news comes out in the meantime.
Oil Man Jim Company Oil & Gas Podcast, 9th October 2019
October 9, 2019 • 3 MIN
Falcon Oil & Gas announced the spudding of the Kyalla 117 N2-1 appraisal well in Australia.
There are now 7 companies currently drilling. In addition to Falcon, there's Petro Matad, I3 Energy, UK Oil & Gas, Alba Mineral Resources, Coro Energy and Empyrean Energy.
UKOG and ALBA both updated this week, announcing that casing has been set. The well will now drill down to the coring point, where three 60 ft cores are planned through the oil-bearing Portland reservoir to ensure the 1000 metre horizontal section is correctly positioned within the most oil-productive zone. The well will then drill ahead to total depth and be plugged back to the starting point of the horizontal trajectory with HH-2z following directly afterwards. Both HH-2z Portland and the HH-1 Kimmeridge well are expected to be put into long term production by the end of 2019.
Reabold Resources went through its usual placing drama, although a little more than usual since it was raising £24 million this time. I think what's happening is happening because its placings are extensively forward sold and I doubt they could raise these amounts as actual investments.
Solo Oil made an interesting announcement. It's entered into a binding sale and purchase agreement to acquire a package of non-operated interests in natural gas fields in the Dutch sector of the North Sea. Three interests are in 14 gas fields, producing c.99% gas / 1% condensate and are mid-life assets with relatively low abandonment expenditure. The aim is a self-funding balance sheet going forward with follow on development potential funded by re-investment of free cash flow since it's classed as a reverse takeover, it shares have been suspended and it will be possible to express an informed opinion once the admission document is published.
Jersey Oil & Gas shares came off sharply when it announced that Equinor had elected not to exercise its three month option over a 50% equity interest in respect of the blocks containing the Buchan oil field and the J2 oil discovery. The interesting thing about this is that it was already obvious Equinor was not proceeding from the previous day's announcement that Jersey had by itself made development contractor appointments. They tried to stabilise the price with the announcement of an independent assessment of resource and valuation estimates showing technically recoverable oil resource volumes of 94.7 million barrels of oil net to JOG and a mid-case contingent resource valuation (NPV10) of its P2498 licence together with a valuation of JOG's 18% share of the Verbier discovery of £791 million. Jersey's now reduced market capitalisation currently is around £40 million.
Moving on, news from all the other companies who have made announcements so far this week will be covered in the Sunday blog and I'll be back on Saturday with another podcast focussed on whatever interesting looking news comes out in the remainder of the week.
Oil Man Jim Company Oil & Gas Podcast, 5th October 2019
October 5, 2019 • 3 MIN
In today’s update, Jim covers the companies he is interested in and what is catching his attention this week.
It was a quieter second half of the week, but still a few pieces of news worth mentioning.
I3 Energy announced the spud of the Serenity SA-1. This is now stated to be an appraisal well and is expected to take four weeks.
Petro Matad announced the commencement of testing of Heron-1. Operations are expected to be completed this month.
Coro Energy and Empyrean Energy announced the Tambak-2 well spud. Total time to drill, core, log and test is estimated to be approximately 33 days, after which the rig is planned to move to the Tambak-1 location. The Tambak-2 well is primarily designed as an appraisal of the southern area of the Mako gas field and is a very large step out (over 13 km) south of the Mako South-1 location. It sounds more like an exploration well.
Anyway, all four companies should offer trading opportunities over the next month or so.
Zenith Energy announced results of its C-37 well. It came in at a maximum of 50 barrels of oil per day after a significant water cut, exactly the same as Block Energy's recent well next door in Georgia.
Bahamas Petroleum Company had a turbulent week. By Wednesday, it had collapsed to half of the price of two weeks ago when I said it looked overvalued. Thursday it issued a statement regarding potential fundraising denying any immediate intentions of undertaking an equity placing.
Shorts panicked and pushed the share price back up over 2p. Reality is it's very unlikely that they will be able to arrange a farm-out and in my opinion, it's only going to be possible to raise the funds for the well they have to drill with a very substantial equity placing. I think this will happen and at a much lower price, at which point I believe it's worth looking at.
Another company which is going to need a large placing is Tower Resources, which issued non-news last week I guess to excuse a price move up. TRP is another one that will be interesting post-placing.
Still, on the subject of placings, Reabold Resources also issued a statement regarding potential fundraising. It's in the process of taking indications of interest from investors with regard to an equity placing of between £20 - 24 million.
The same group that runs Coro Energy, Echo Energy and Sound Energy have taken Nu-oil & Gas as their next shell. There's undoubtedly a deal coming up, but with the group controlling a billion 0.05p placing shares and 5 billion more shares coming from a £2.5 million loan converting at the same 0.05p price, there's going to be a huge amount of stock coming out.
It all comes down to the strength of the deal coming in, but confidence in the group has been weakened by a poor choice of deals leading to large investor losses at Sound and Echo and NUOG is a pure bet on how high they can ramp it.
I'll be back mid-week with more on the podcast.
In the meantime, all the small-cap oil companies are covered in the Sunday blog and daily on Twitter.
Oil Man Jim Company Oil & Gas Podcast, 2nd October 2019
October 2, 2019 • 5 MIN
There's been a lot of news so far this week, but mainly companies getting out their interim results at the last minute, so I'll focus on the more interesting ones and those that might offer potential.
Providence Resources and Lansdowne Oil & Gas eventually had to call it a day with the Chinese investors after their funds they claimed to have transferred yet again failed to arrive. Providence now is capitalised at £24 million and Lansdowne at £6 million, but in Barryroe they do actually own a genuine asset. The shares are highly speculative, but offer huge and real potential. Estimated 2C recoverable resources are over 300 million barrels of oil from the two main tested reservoir intervals at Barryroe, and further resource potential has also been identified in other hydrocarbon bearing intervals with estimates of up to over 1 billion barrels of oil. I think Providence and Lansdowne might be worth a punt at these levels.
UK Oil & Gas and Alba Mineral Resourcesannounced the spud of the Horse Hill-2/2z Portland well. Both the HH-2z and the existing HH-1 Kimmeridge well are expected to be put into long term production by the end of 2019. I suspect production could easily surpass 1,000 barrels of oil per day - and they have permission to drill another four wells. Given its niche as a British onshore oil producer, UKOG at a current capitalisation of £67 million and ALBA at a capitalisation of £7 million offer opportunity.
Global Petroleum is a company rarely mentioned. It's capitalised at just £3 million, but has a lot of assets, particularly its licences offshore Namibia, which cover 11,607 square kilometres (that's nearly 3 million acres) and make it one of the largest acreage holders in the region. Global also own licences offshore Italy where it has been fighting actions by environmentalists in the courts - and winning. It's an interesting situation now in Italy, since to stop these endless battles between oil companies and greens, the Italian Parliament passed a Bill in February this year suspending all hydrocarbon exploration activities, including permit applications, for a period of 18 months. Following the 18 month evaluation period, the intention is that a hydrocarbon plan will be activated, setting out a strategy for exploration and production, excluding certain areas from future hydrocarbon exploitation. These environmental disputes are what has been holding back oil exploration activity in Italy and those companies whose areas do get approved are going to hit the jackpot, since many of the potential resources in these licences are huge and highly profitable if allowed to be developed. The company has more than enough cash to keep it going and Global is another one that could be worth a punt. It just takes one farm-out to propel this North.
I3 Energy issued its interim report on Monday and set out a clear explanation of the current situation. The first well result was a surprise to the third-party consultants who conducted due diligence, which I think explains the heavy institutional selling. All three sets of seismic utilised to map the Liberator structure had conformed to one another and resolved the 13/23c-9 well location as a low-risk target at a structural high. However, the targeted upper Captain sand was not penetrated at the first well location, so i3 acquired the only other available seismic dataset over the area. This had previously been reviewed by the Company and determined to be unsuitable. However, reprocessed, they believe this seismic will enable additional interpretation. To allow time to analyse the data and potentially re-permit an alternative location for Liberator's next appraisal well, i3 is preparing the rig to drill Serenity's SA-01 as the second well. Mobilisation operations will commence as soon as the consent to locate permit is obtained and, once drilling begins, the well is anticipated to take approximately four weeks. I think the current market capitalisation of £20 million looks fair. From here, there is going to be an exploration well targeting a potentially significant target at Serenity and possibly an appraisal well at Liberator. It's no longer the development deal it was before, but like the others mentioned previously it could be an interesting speculation.
Independent Oil & Gas which I mentioned positively at the weekend is still being bought by Richard Griffiths of Jersey and Lombard Odier, both of whom filed TR-1s. There's good news flow coming up here and I thought it interesting to see that IG is no longer allowing leveraged purchases on this. The market capitalisation is £73 million, so there's still plenty of upside when the scale of the project is considered.
Finally, Bahamas Petroleum Company, which I stated the last two weekends as currently overpriced but interesting once a placing is done, is now down by about half. They've now formally announced that they're in the process of arranging funding for their big drill next year and as I've said before it's one to keep an eye on and look at picking up after the placing.
I'll be back at the weekend with more on the podcast.
In the meantime, all the small-cap oil companies are covered in the blog and daily on Twitter.
Oil Man Jim Company Oil & Gas, 28th September 2019
September 28, 2019 • 4 MIN
Chariot Oil & Gas announced its first half results. The 30 June cash position was $12.1 million, with no debt and all commitments fully funded. The market capitalisation by comparison is £14 million, so you’re not paying much for their licences in Morocco, Brazil and Namibia. The Lixus licence alone has audited total remaining recoverable resources in excess of 2 trillion cubic feet of gas. They’re looking to farm out all these licences and given their ability to farm-out prospects previously there is big upside here.
Independent Oil & Gas announced its interim results. They’ve set out their future news flow which will include: completion of Farm-out to CalEnergy Resources; First Investment Decision and commencement of Core Project Phase 1 project execution; Full Harvey appraisal well results; and CalEnergy Resources option to farm in to Harvey. I’m starting to warm towards Independent Oil & Gas and it’s also encouraging to see Lombard Odier keep buying too.
Borders & Southern announced results for the six months ended 30 June and the company is now actively pursuing a farm-in partner for its Darwin project. Industry reach has been extensive and they continue to present what they say is their robust technical and commercial proposition to new companies. If they can pull off a farm-out of their Falkland’s licences, the potential is huge. The market capitalisation is just £7 million, but assets in the balance sheet are over £296 million
Bahamas Petroleum Company announced interim results. They’ve entered into a framework agreement with Seadrill for the provision of a rig in the first half of 2020; they’ve appointed Halliburton for integrated well services and BakerHughes for provision of various well-related equipment. There’s a £10.25 million conditional convertible loan note to underpin finance necessary for the drilling of the well if required, and additional finance sources being evaluated. They say the farm-in process continues. To give them insurance, they’ve now got AGM approval for the temporary authority for issue of new shares to further contribute to the financing of drilling, if required. I said last weekend that the most likely outcome here is a large discounted placing and that the shares were looking expensive. Now they’ve come off quite a bit since then ( the market cap was ,£41 million a week ago, it’s £32 million now), but it still looks expensive on an un-financed basis. I do think it could be interesting once the fund raising is done, so it’s one very much to keep an eye on
Lansdowne Oil & Gas announced Interim Results. As they stated, "The key issue facing the Company is the delay in the delivery of the loan funds from APEC, as called for under the Farm-Out Agreement.” The last extended backstop date is this Monday and it won’t be looking good for them if the cash has still not arrived. Same applies to Providence Resources too.
Anglo African Oil & Gas issued its Half-year Report. Well re-entry operations have started and with an operational team in place and a funding package finalised, they’re now concentrating on signing a rig contract for the sidetrack into the Djeno. Difficult to know what’s going to happen here, but it’s always worth keeping an eye on, if only for amusement.
Reabold Resources released Interim Accounts showing average production in California of 42 bopd in the 1st half with operating costs running at 56% of revenue. They claim production of 142 boepd for July & August, but how much is gas, which in the US is really worth very little? And unlike the first 6 months of the year, they didn't state oil production. Finally, why did they disclose only 20 bopd net as current production in their September RNS? Other questions asked by me in July regarding the £3 million offshore purchase of the California earn-in agreement also are being asked by others too, so let’s see if the answers come out now.
I'll be back mid-week with more on the podcast.
In the meantime, all the small-cap oil companies are covered in the Sunday blog and daily on Twitter.
Oil Man Jim Company Oil & Gas Podcast, 25th September 2019
September 25, 2019 • 3 MIN
Three companies currently are underway with their drilling programmes: I3 Energy, Petro Matad and Hurricane Energy, which announced the spud of its Warwick West well earlier this week. Petro Matad awaits the test results of Heron-1 and the initial drill results of Gazelle-1.
I3 Energy is awaiting the spud of its Serenity exploration well, with the Liberator appraisal well delayed pending the processing and interpretation of new seismic data. Pending the outcome of the drills, I think the latter two are purely for trading. Of those with drills coming up and another one operating in the North Sea, Independent Oil & Gas announced the settlement of its 100 million Euro bond raise, fully funding them for their core project next year.
In the meantime, data acquired from the Harvey well is now undergoing analysis to generate a revised technical assessment of reservoir gas volumes and deliverability.
Onshore UK, Alba Mineral Resources and UK Oil & Gas announced the arrival of the rig at Horse Hill. The spud of the Portland horizontal well is expected imminently. Drilling operations are expected to be completed in approximately 60 days.
Empyrean Energy and Coro Energy announced the mobilisation of the jack up rig from Singapore, which is now en route to the location for the first well offshore Indonesia. The campaign will comprise of two wells, one to appraise the Mako gas field discovery and one to both appraise the Mako gas field at another location and test the deeper Tambak prospect.
Current favourites out of the above are UK Oil & Gas and, to a lesser extent, Independent Oil & Gas. Coro might have some potential too.
Petrel Resources announced the appointment of Michel Fayad to the Board.They now aim to acquire and fund a big project in the Middle East & North Africa region. I stated Petrel as a favourite at around 1p, it's now close to 10p - and perhaps going higher still.
Block Energy No surprises for blog readers in today's RNS. Instead of the touted 1,100 barrels of oil per day, production actually turned out to be 230 barrels of liquid a day with a water cut of 78% That's just 50 barrels of oil per day, but still outdoes
Reabold Resources, who after a year of supposed production and announcements of wells coming in at several hundred barrels a day, were only able to announce actual net production of 20 barrels of oil per day. Again, this will be no surprise to blog readers
Ending with some better quality companies which actually do produce commercial quantities of oil, Serica Energy and RockRose Energy announced interims with strong numbers. Further acquisitions will be the big share price driver with these two. I'll be back at the weekend with more on the podcast. In the meantime, all the small-cap oil companies are covered in the blog and daily on Twitter.
Oil Man Jim Company Oil & Gas Podcast, 21st September 2019
September 21, 2019 • 4 MIN
Here is Jim market update, from across this week's Oil & Gas company news, our readers, subscribers may be aware that we now publish the weekly bog that @Oilman_Jim (https://twitter.com/Oilman_Jim) publishes each Sunday.
In today’s update, Jim covers the companies he is interested in and what is catching his attention this week.
Bahamas Petroleum Company PLC (LON: BPC) pasted shareholder resolutions to finance the up and coming drills. Europa Oil & Gas (Holdings) Plc (LON: EOG) Award of Large Exploration Licence (https://www.share-talk.com/europa-oil-gas-holdings-loneog-award-of-large-exploration-licence-offshore-morocco/) , Offshore Morocco. Chariot Oil & Gas Ld (LON: CHAR) Competent Persons Report on Additional Prospects, Lixus Offshore Licence, Morocco.
Clontarf Energy PLC (LON: CLON) Interim Statement (https://www.share-talk.com/clontarf-energy-plc-lonclon-interim-statement-for-period-ended-30-june-2019/) for the period ended 30 June 2019. Eco (Atlantic) O&G (LON: ECO) Second Oil Discovery (https://www.share-talk.com/eco-atlantic-og-loneco-second-oil-discovery-offshore-guyana/) Offshore Guyana. Petro Matad Ltd (LON: MATD) Spud (https://www.share-talk.com/petro-matad-ltd-lonmatd-spud-of-exploration-well-gazelle-1/) of exploration well Gazelle-1.
i3 Energy PLC (LON: I3E) Operations Update (https://www.share-talk.com/i3-energy-plc-loni3e-operations-update/) Providence Resources (LON: PVR) Operational Update - Standard Exploration Licence 1/11 Completion of Barryroe Site Survey. Lansdowne Oil & Gas Plc (LON: LOGP)
Oil Man Jim Company Oil & Gas Podcast, 19th September 2019
September 19, 2019 • 4 MIN
Here is Jim latest update, our readers, subscribers will be aware that we now publish the weekly bog that @Oilman_Jim (https://twitter.com/Oilman_Jim) publishes each Sunday.
In today's update, Jim covers the companies he is interested in and what is catching his attention this week.
Eco (Atlantic) O&G (ECO) Second Oil Discovery (https://www.share-talk.com/eco-atlantic-og-loneco-second-oil-discovery-offshore-guyana/) Offshore Guyana announced a further discovery on Joe-1, the second well on the Orinduik Block. Petro Matad Ltd MATD) Spud of exploration well (https://www.share-talk.com/petro-matad-ltd-lonmatd-spud-of-exploration-well-gazelle-1/) Gazelle-1 today. i3 Energy PLC (I3E) Borgland Dolphin drilling activity with two more fully funded wells to go for.
Providence Resources (LON: PVR) on-site survey, cash position, Zenith Energy (ZEN) announcement, Nostra Terra Oil and Gas Company (NTOG), West Newton play, Block Energy PLC (BLOE).
Oil Man Jim Company Oil & Gas Podcast, 14th September 2019
September 14, 2019 • 5 MIN
Share Talk first came across Jim Tweets (https://twitter.com/Oilman_Jim) a couple of years ago and we would read his weekly blog (https://www.share-talk.com/category/oilman-jim/) that covered all the highs and lows with a look back at some of the interesting news stories from London’s junior oilers.
Followers, subscribers will be aware that we now publish the weekly bog that @Oilman_Jim (https://twitter.com/Oilman_Jim) publishes each Sunday. We are happy to be able to announce that Jim has agreed to publish a podcast covering some of the junior oilers he is interested in.
UK Oil & Gas PLC (LON: UKOG) (https://www.share-talk.com/uk-oil-gas-plc-lonukog-the-week-that-changed-everything/) The Week that changed everything! On Tuesday we had the update of the Completion of Acquisition (https://www.share-talk.com/uk-oil-gas-plc-lonukog-completion-of-acquisition-in-horse-hill-2/) in Horse Hill.
Wednesday the Surrey County Council Planning and Regulatory Committee granted full planning consent (https://www.share-talk.com/uk-oil-gas-plc-lonukog-horse-hill-granted-long-term-production-consent/) for long-term oil production at the Company’s flagship Horse Hill oil field near Gatwick Airport. This landmark milestone, perhaps the most significant event at Horse Hill since the HH-1 oil discovery, paves the way for the Company to realise the full value of future long-term production from the Horse Hill oil field.
i3 Energy PLC (LON: I3E) (https://www.share-talk.com/i3-energy-plc-loni3e-liberator-well-13-23c-9-preliminary-result/) Liberator Well 13/23c-9 Preliminary Result. Announces that the 13/23c-9 pilot well drilled by the Borgland Dolphin on i3 Energy’s 100% owned Liberator Field has reached total depth at 5818 ft True Vertical Depth Sub-sea (TVDSS) in the Valhall formation.
Petro Matad Ltd (LON: MATD) (https://www.share-talk.com/petro-matad-ltd-lonmatd-heron-1-results-of-drilling-and-wireline-logging/) Heron-1, results of drilling and wireline logging. Data were consistent with our pre-drill prognosis, there is also evidence of zones with better than expected porosity/permeability characteristics.
The well will now be tested and we are pushing the contractor to mobilise equipment as quickly as possible. Further updates will be provided in due course.
Zenith Energy Ltd (LON: ZEN) (https://www.investegate.co.uk/zenith-energy-ltd--zen-/rns/successful-drilling-results/201909090700086256L/) Successful Drilling Results. The Company confirms that the deepening of well C-37 has successfully identified three untapped oil-bearing clastic layers in the Middle Eocene formation with a total net pay zone of approximately 16 metres.
Reabold Resources (LON: RBD) (https://www.investegate.co.uk/reabold-resources--rbd-/rns/successful-appraisal-well-at-parta-licence-romania/201909090700086252L/) Successful Appraisal Well at Parta Licence Romania. The announcement made by ADX Energy Ltd ("ADX") regarding an update on the drilling of the Iecea Mica-1 ("IM-1") appraisal well, located within the Parta license, onshore Romania. Drilling has been completed safely and hydrocarbons have been discovered in multiple zones.
Reabold holds 37 per cent. equity interest in Danube Petroleum, which has 100% working interest in the sole risk area within the Parta licence that includes IM-1, as well as 50 per cent. of the remainder of the Parta licence. ADX is the operator of the well.
ANGLO AFRICAN O&G (LON: AAOG) (https://www.share-talk.com/anglo-african-og-lonaaog-board-changes/) Board Changes. David Sefton has made the decision to resign his position as Executive Chairman and as a director of the Company. David has been instrumental in the development of the Company since 2016.
Still no cash from China for Providence Resources (LON: PVR) (https://www.investegate.co.uk/providence-res---pvr-/gnw/providence-resources-p-l-c----conditional-placing-to-raise-us-3-76-million/20190912070000H2345/) and Lansdowne Oil & Gas (LOGP), however, PVR has started the Barryroe site survey regardless. Absent receipt of funds, both PVR and LOGP are going to have to obtain financing virtually immediately.
Providence Resources (LON: PVR) (https://www.investegate.co.uk/providence-res---pvr-/gnw/providence-resources-p-l-c----conditional-placing-to-raise-us-3-76-million/20190912070000H2345/) Conditional Placing to raise US$3.76 million
Cameron Parry, Chief Executive Officer, Tally Ltd
September 11, 2019 • 22 MIN
Cameron Parry, Chief Executive Officer, commented: “I am pleased to report that there are nearly 1,000 Tally® account holders currently and this has been achieved mainly through organic growth since the App was released in mid-June.
“I am also pleased to report that the Company has completed a successful pre-Series A capital raise from private investors, and we are thankful for their support. We continue to also be appreciative of our existing shareholders, who have been patiently bearing with us as TALLY has grown its product offering and business scope. And we are mindful that the revised timeline needed to list the Company’s shares may be disappointing or frustrating, but we must continue to focus on achieving relevant milestones in order to deliver a successful IPO.
MetalNRG PLC (LON:MNRG) Rolf Gerritsen, CEO Podcast
August 7, 2019 • 7 MIN
CEO, Rolf Gerritsen spoke about Gold Ridge Project in Arizona, USA. The planned site visit on the14th August this month and the other opportunities in the pipeline.
MetalNRG PLC admission (https://www.investegate.co.uk/metalnrg-plc--mnrg-/rns/admission-to-listing-on-the-official-list/201907230800033915G/) to Listing on the Official List last month gave the company a fresh start, able to raise funds and start with a clean slate.
We asked Rolf how is the company looking to generate cash short term for shareholders, other opportunities, and future assets the company may be looking to add to their portfolio?
United Oil & Gas PLC (LON:UOG) Brian Larkin, CEO
July 23, 2019 • 7 MIN
We spoke today with Brian Larkin, CEO of United Oil & Gas PLC to ask some questions on today company update, the proposed acquisition of Rockhopper Eqypt (“Acquisition”) (https://www.share-talk.co.uk/announcements/rns/rockhopper-exp-plc/disposal-of-abu-sennan-egypt/201907230700073413G)
This constitutes a reverse takeover under AIM Rule 14. Accordingly, the Company’s Ordinary Shares will be suspended from trading on AIM with effect from 07:30 am today, pending publication of an AIM admission document and circular to shareholders to approve the Acquisition.
Global Energy Metals Corp (TSXV:GEMC) Mitchell Smith, President & CEO
July 14, 2019 • 8 MIN
We spoke with Mitchell after the company announced that fieldwork at the Lovelock Cobalt Mine (https://www.share-talk.com/global-energy-metals-cvegemc-fieldwork-at-the-lovelock-cobalt-mine-is-now-underway/?utm_source=twitter&utm_medium&utm_campaign) is now underway in Nevada, USA is now underway.
With a focus on identifying high-grade mineralized zones of cobalt, nickel and copper in the historical underground workings.
Global Energy Metals will commence channel sampling of previously identified mineral-rich areas, as well as complete detailed geological mapping and surveying of the accessible underground workings.
On the 13th of June 2019, Global Energy Metals Corporation announce that it has staked 11 new claims adjoining the 70 pre-existing (https://www.share-talk.com/global-energy-metals-cvegemc-expands-land-position-in-nevada/?utm_source=twitter&utm_medium&utm_campaign) Lovelock Cobalt Mine project claims in Churchill County, Nevada.
The new claims to the north of the historic mineshaft cover approximately 75 hectares increasing the Lovelock property to a total of 642 hectares, within 81 mineral claims.
In January of this year, Global Energy entered into an option agreement with Nevada Sunrise Gold, a Vancouver based company, for the option to acquire an 85% undivided interest in the Lovelock Cobalt Mine and nearby Treasure Box project, adding to its portfolio of battery metal projects in top-tier mining jurisdictions within Canada and Australia. Both Lovelock and Treasure Box are highly prospective for battery minerals including cobalt, nickel and copper.
Paul Johnson, Executive Director of Power Metal Resources plc (LON:POW)
June 26, 2019 • 16 MIN
The Company commenced trading on Monday 24 June 2019 under the new name of Power Metal Resources Plc (https://twitter.com/PowerMetRes) and a new Tradable Instrument Display Mnemonic ("TIDM" or "Ticker") of POW.
We talk with Paul Johnson, Executive Director of Power Metal Resources to get an update of the progress being made with the many projects they have in their portfolio across Africa.
This includes Tanzania, Cameroon, DRC, Ivory Coast and Botswana. He also talks about the joint venture with Katoro Gold plc (LON: KAT)
43: Kunwar Shailubhai, CEO of Tiziana Life Sciences (NASDAQ:TLSA, AIM:TILS)
June 24, 2019 • 10 MIN
Zak Mir speaks with Kunwar Shailubhai, CEO of Tiziana Life Sciences, are the markets, prospective investor understanding the business model and how are the company moving forward.
Tiziana Life Sciences plc is a UK biotechnology company that focuses on the discovery and development of novel molecules to treat human disease in oncology and immunology.
In addition to Milciclib, the Company is also developing Foralumab for liver diseases. Foralumab is the only fully human anti-CD3 monoclonal antibody in clinical development in the world.
This Phase 2 compound has potential application in a wide range of autoimmune and inflammatory diseases, such as nonalcoholic steatohepatitis (NASH), primary biliary cholangitis (PBS), ulcerative colitis, multiple sclerosis, type-1 diabetes (T1D), inflammatory bowel disease (IBD), psoriasis and rheumatoid arthritis, where modulation of a T-cell response is desirable.
42: David Bramhill, Executive Chairman of Union Jack Oil PLC (LON:UJO)
June 17, 2019 • 11 MIN
Discovery Potentially Largest UK Onshore Gas Field.
Union Jack Oil plc (AIM: UJO), a UK focused on-shore hydrocarbon production, development and exploration company is pleased to announce positive preliminary results in respect of the recently drilled West Newton A-2 conventional appraisal well, located within PEDL 183 and operated by Rathlin Energy (UK) Limited. Union Jack holds a 16.665% interest in this licence containing the West Newton A-1 discovery well and West Newton A-2 appraisal well.
Highlights:
· Successful appraisal of onshore UK discovery, with both gas and liquid hydrocarbon volumes, encountered
· Preliminary data suggests West Newton 2C Contingent Resources* is at least the pre-drill estimate of 189 Bcf (Billion Cubic Feet of Gas), the equivalent of 31.3mmbo (million barrels of oil)
· West Newton is potentially the largest UK onshore gas field and potentially the largest hydrocarbon discovery onshore UK since 1973, subject to further testing
· West Newton is near Hull where there is an abundance of production infrastructure
· Permitting in place for Extended Well Test planned for Q3 2019
· Deeper exploration target in the Cadeby formation encountered hydrocarbon shows with an oil saturated core
Sanj Naha, CEO of BigDish PLC (LON:DISH) Podcast
May 24, 2019 • 21 MIN
As diners become more promiscuous and more adventurous with their dining out experiences, find out why BigDish is being called the saviour of the restaurant industry and how it might have saved Jamie Oliver's empire.
BigDish Plc (LON: DISH), a food technology company that operates a yield management platform for restaurants, has significant plans regarding their roll out across the UK. Yesterday announcing (https://www.investegate.co.uk/bigdish-plc--dish-/rns/new-locations-on-bigdish/201905230719499632Z/) expanded growth strategy with Swindon and Reading added as a new location.
Following successful launches in Exeter and Basingstoke at the beginning of May, it is hugely encouraging that the Company is on track with its growth strategy, this is part of the Company's plan to expand into the London commuter towns. said Sanj Naha.
Download the App (Android) link play.google.com/store/apps (https://play.google.com/store/apps/details?id=com.gourmet.app)
Download the App (IOS) link itunes.apple.com/ph/app (https://itunes.apple.com/ph/app/bigdish-restaurant-discounts/id987760047?l=en&mt=8)
Website www.bigdishplc.com (https://www.bigdishplc.com/)
Twitter @bigdishIR (https://twitter.com/bigdishIR)
41: Kibo Energy PLC (LON:KIBO) Louis Coetzee, CEO, Interview
May 1, 2019 • 11 MIN
When Louis Coetzee took over the reins at Kibo Energy in 2012, the strategy was to focus on value creative, utility-scale energy projects.
The chief executive of AIM-listed company tells Share Talk, Sarah Lowther about the advances being made across the Africa and UK-focused portfolio, and progress in securing a critical debt funding development facility.
40: Bushveld Minerals Limited (AIM:BMN) BMO Capital Markets 28th Annual Global Metals & Mining Conference
March 7, 2019 • 16 MIN
Bushveld Minerals Limited (AIM: BMN), the AIM listed, integrated primary vanadium producer, with ownership of high-grade vanadium assets in South Africa, announces that Fortune Mojapelo, CEO of Bushveld Minerals, attended and presented at the BMO Capital Markets 28th Annual Global Metals & Mining Conference, in Florida, between February 25 and February 27.
39: ECR Minerals plc (LON:ECR) Craig Brown, Chief Executive Officer
March 6, 2019 • 5 MIN
In this podcast, we speak with Craig Brown about what news flow investors can expect, the appointment of Samuel James Melville Garrett (“Sam Garrett”) as a Non-Executive Director of ECR Minerals plc.
The Black Cat prospect at the Bailieston gold project in the State of Victoria, Australia. At the Company’s Black Cat prospect in the Bailieston project area, 250 metres of rotary air blast drilling has been [completed to date](https://www.investegate.co.uk/ecr-minerals-plc--ecr-/bus/gold-drilling-update---bailieston-black-cat-prospect-victoria-australia/20190304110800Z4889/) in 10 target holes within ECR ground immediately south of ground recently applied for by Newmont Exploration.
38: BigDish PLC (LON:DISH) Founder & Chairman, Aidan Bishop
February 10, 2019 • 8 MIN
BigDish Plc Founder & Chairman, Aidan Bishop talks about the recent IPO to the main listing market in the UK. He states he finds it laughable that people are equating social media activity, PR, marketing that a placing is imminent, a placing is absolute nonsense.
BigDish Plc (LON: DISH), a food technology company that operates a yield management platform for restaurants.
36: Global Energy Metals Corp. (TSXV:GEMC) Mitchell Smith President & CEO
February 6, 2019 • 11 MIN
Global Energy Metals Corp. (GEMC) is acquiring and developing high-quality cobalt assets to provide investors exposure to the surging demand for cobalt used in the rechargeable battery and energy storage market.
The GEMC team, with over a decade of cobalt-focused experience, recognized early that cobalt was essential to lithium-ion battery chemistries.
Through years of working with downstream users, including its strategic partnership with Beijing Easpring Material Technology Co. (Easpring), the Company recognized that there is a pressing need to create a diversified, viable supply of material to offset the reliance from DRC sourced cobalt. GEMC's partnership with the battery cathode manufacturer is unique. The company went downstream, direct to the supply chain to ensure that it receive project finance, metallurgical and feasibility support for projects and material purchase.
The Company believes there are significant value opportunities in aggregating projects and building an efficient and reliable raw material supply chain that meets strict end-user specifications in the rechargeable battery sector.
GEMC’s aggregation strategy includes direct investment into advanced cobalt projects, supply through streams, off-take and physical material.
Global Energy Metals is a rare and compelling investment opportunity in the cobalt sector.
35: UK Oil & Gas PLC (LON:UKOG) Stephen Sanderson, Chief Executive Update 2019-2020
January 31, 2019 • 6 MIN
UK Oil & Gas PLC (London AIM: UKOG), the largest onshore licence acreage holder in Weald Basin, is pleased to announce that, following the successful production testing and declaration of Portland commercial viability at its Horse Hill oil field (in which the Company holds a 46.735% interest), the Company has now completed a strategic review of its asset portfolio and finalised forward plans to drill up to nine production, appraisal and exploration wells during 2019 and 2020.
The plan’s initial focus is to move Horse Hill’s ongoing test-based oil production into permanent production by the end of 2019 via two new horizontal production wells. As previously reported, the Portland production target of 720-1,080 barrels of oil per day (“bopd”) from the first horizontal well, which has been externally verified as a realistic and viable expectation by Xodus Group Ltd (“Xodus”), is designed to position Horse Hill as the Weald Basin’s leading oil producing companies. Subsequent horizontal wells in 2020 are designed to boost gross production to over 2,000 bopd, potentially placing UKOG within the top three oil producing companies in the UK onshore sector.
Next year, the plan aims to convert around 15.6 million barrels (“mmbbl”) of the Company’s net discovered conventional recoverable resources (or “Contingent Resources”) into Reserves. Consequently, the programme includes the drilling and long term testing of an appraisal well in the PEDL331 Arreton oil discovery (UKOG 95% interest), where the majority of the company’s currently assessed Contingent Resources lie, together with appraisals in the PEDL234 Godley Bridge gas discovery and Broadford Bridge oil discovery (UKOG 100%). Further Portland and Kimmeridge exploration wells at PEDL331 Arreton South and at a third site in PEDL234 are also planned later in 2020.
A Gantt chart summarising the programme is available on UKOG’s website www.ukogplc.com. Further details are summarised below.
[Please Click Link](https://www.share-talk.com/uk-oil-gas-plc-lonukog-2019-2020-strategy-and-drilling-plans-2/)
34: Alan Simpson, Chief Technology Officer, Catenae Innovation P.L.C. (LON:CTEA)
January 28, 2019 • 7 MIN
Catenae (AIM: CTEA), the AIM quoted provider of digital media and technology announces the following changes to its senior Management team and Board.
Proposed appointment of Alan Simpson CTO to the Executive Board
Alan is a highly regarded technologist with vast experience in a number of high-profile projects in a career ranging from Military Cryptologist through to those projects which can be publicly named such as being the Technical Delivery Manager for BBC's flagship iPlayer project.
Alan joined the Company in June 2018 and has been responsible for the delivery of technical projects within the Company including Sequestrum, its DLT/Blockchain platform, and the recently launched Onsite. This appointment recognises the contribution and commitment Alan has shown to the Company.
This, combined with his broad technical expertise, and commercial experience will be a welcome addition to the Board. A further announcement providing information pursuant to AIM Rule Schedule 2(g) will be made in due course.
33: Andrew Bell, Regency Mines Plc (LON:RGM) Interview
January 27, 2019 • 8 MIN
Share Talk spoke with Andrew Bell about the company AGM held last Friday and asked him for his thoughts, view on Regency Mines Plc future in 2019.
At the [Annual General Meeting ](https://www.investegate.co.uk/regency-mines-plc--rgm-/rns/result-of-agm-and-directorate-changes/201901251433241761O/)of the Company held on the 25 January 2019, the results were as follows.
1\. Resolutions 1 and 3 to receive the Report and Accounts and re-appoint the auditors, were duly passed
2\. Resolution 2 to re-elect Andrew Bell as a Director duly passed,
3\. Resolutions 4 and 5 to authorise the Directors to allot equity securities and disapply pre-emption rights were deferred to an adjourned Meeting on 15th February, details of which will be confirmed.
Andrew Bell notified the meeting of his resignation as Chairman and Chief Executive with effect from the end of the meeting and announced that the Company is in discussions concerning the appointments of a Non-Executive Director and a CEO, further details of which are anticipated to be announced shortly.
29: DekelOil Executive Director Lincoln Moore (LON:DKL) Interview
December 21, 2018 • 8 MIN
Dekeloil PLC Acquisition of 43.8% Interest in Cashew Processing Project, Issue of Equity and Director / PDMR Shareholding
DekelOil Executive DirectorDekelOil Executive Director Lincoln Moore said, "T[he early acquisition of a 43.8% interest in Tiebissou is a significant event for DekelOil](https://www.investegate.co.uk/dekeloil-plc--dkl-/rns/acquisition-of-interest-in-cashew-project/201812210700021959L/) and one which we believe will generate long-term value for shareholders. This is a reflection of both the substantially lower valuation we have secured compared to the Original Option agreement, but also the significant premium at which the new Consideration Shares in DekelOil have been issued. The share price premium is an endorsement of our vision to build a multi-project, multi-commodity agriculture company, the strategy we have in place to achieve this and our management team which, as it successfully demonstrated at our palm oil project in Ayenouan, has the credentials to deliver.
28: MetalNRG Plc (NEX:MNRG) Rolf Gerritsen Chief Executive Officer Interview
December 14, 2018 • 8 MIN
The Company’s proposed new Investing Policy is to invest in and/or acquire companies and/or projects within the natural resources and/or energy sector with potential for growth and value creation, over the medium to long-term.
Rolf Gerritsen, Chief Executive Officer is an entrepreneurial executive, with outstanding strategic, organisational, commercial and financial skills with an exceptional delivery record developed over the last 30 years with specific focus on the Natural Resources sector.
We ask Rolf three bullet point question
How was 2018
What are your plans for 2019
Where do you want to be this time next year
27: Stephen Sanderson, Chief Executive, UK Oil & Gas PLC (LON:UKOG)
November 20, 2018 • 11 MIN
On the 15 November 2018, UKOG made a market announcement on the EWT (Extended Well Test) Portland & Kimmeridge Oil Discovery, Horse Hill-1, Weald Basin, UK. Share Talk spoke with Stephen Sanderson today and he explains in more depth the figures, technical released.
In Stephen own words "the Kimmeridge zone is alive and kicking" K3 limestone zone has been tested and is commercially viable with the rates we have produced. We are now testing the upper layer in K4 Kimmeridge Limestone Zone.
Looking at an average rate of production of 342 barrels per day, with various choke setting used we achieved a maximum rate of 902 barrels a day.
The results clearly show this is the best producing well onshore in the UK outside of Wytch Farm well.
UKOG is moving away from an exploration company, to production with rates that generate gross £20 million per year and looking to drill more multiple wells that will add further value to UKOG.
[Full RNS 15th Nov 2018](https://www.investegate.co.uk/uk-oil---38--gas-plc--ukog-/rns/ewt-update--portland---kimmeridge-oil-discovery/201811150700034007H/)
25: Gaz Bisht Executive Director (China) Empyrean Energy PLC (AIM:EME) Interview
November 13, 2018 • 13 MIN
Mr Bisht is an oil and gas professional with over 28 years’ of proven skills in all aspects of Exploration and Production.
In the past 5 years, he has developed strong business acumen in strategy framing and execution and has built deep and effective relationships with international companies as well as regulators in South East and North Asia, particularly in Indonesia, China and Malaysia.
Gaz Bisht talks about Empyrean Energy PLC update [Gaffney Cline & Associates review of Oil in-place, Estimates completed for Prospects in Block 29/11, Pearl River Mouth Basin, offshore China](https://www.investegate.co.uk/empyrean-energy-plc--eme-/rns/independent-oil-in-place-estimates-for-block-29-11/201811090730018893G/)
Empyrean Energy (EME: AIM), the oil and gas development company with interests in China, Indonesia and the United States, is pleased to announce that Gaffney, Cline & Associates ("GCA"), an independent petroleum advisory firm, has completed its independent audit of the Company's oil initially in place estimates over the Jade, Topaz and Pearl prospects identified in Block 29/11, Pearl River Mouth Basin, offshore China, in which the Company has a 100% working interest (the "STOIIP Audit") .
24: Rolf Gerritsen, Chief Executive Officer MetalNRG PLC (NEX:MNRG) Interview
November 6, 2018 • 8 MIN
MetalNRG Completion of the Acquisition of the [Gold Ridge Project](https://www.nexexchange.com/announcements?newsid=4178887), which includes three historically producing gold mines, in Arizona, U.S.A.
MetalNRG PLC (NEX:MNRG), the natural resource investing company quoted on the NEX Exchange Growth Market in London.
**Highlights:**
* MetalNRG has now acquired all the interests of Winston Gold in the project known as Gold Ridge Project ("Gold Ridge" or the "Project"), located in the Dos Cabezas Mining District, Cochise County, southeastern Arizona, UnitedStates of America;
* The Project consists of approximately 2,305 acres (9.3km2) of tenement including 343 acres of patented mining claims, 112 company-owned un-patented mining claims; and 12 leased un-patented mining claims;
* The interests acquired include three historical producing gold mines; Gold Prince mine; Gold Ridge mine and Dives mine; each was worked over various intervals between discovery in 1877 and 1996;
* Project has a NI43-101 compliant Technical Report dated 30th December 2016;
* Lack of modern exploration coverage and the existence of at least three high-grade gold deposits within the Project's 5.2km of shear zone strike,results in strong potential for the discovery of further goldmineralisation and for establishing compliant Resources.
* MetalNRG agreed to acquire 100% of Gold Ridge for a total consideration, in cash and shares, of US$700,000 (approximately GBP GBP530,000).
* Arizona is a mining friendly jurisdiction with an established permitting framework. Fraser Institute 2017 Investment Attractiveness Index ranked Arizona 2ndby US State (after Nevada) and 9th/ 91 globally.
**Rolf Gerritsen Chief Executive Officer of MetalNRG PLC commented:**
"I am delighted to announce the completion of this transaction which is the Company's first major acquisition. The acquisition of Gold Ridge in Arizona comes at a time when there is an increasing interest in gold productionopportunities.
With the Gold Ridge transaction, we acquired significant acreage, a range of mining claims and three former producing mines in one package and we look forward to developing the Project and looking at the opportunity to bring the mines back into production.
I expect further updates will be released to market in the near term on the advancement of Gold Ridge and any further developments on our previously announced Uranium acquisition along with other market updates."
21: Sound Energy PLC (LON:SOU) James Parsons, Chief Executive Officer
October 19, 2018 • 8 MIN
Sound Energy plc is a growth focused and private investor centric Moroccan gas explorer.
We are listed on AIM and benefit from:
a low cost, multi Tcf potential onshore gas discovery
a strategic partnership with Schlumberger - one of the largest companies in our sector
two supportive cornerstone investors
a potentially transformational drill programme, and
a strong retail shareholder base
We are pursuing an onshore gas strategy underpinned by strong gas market fundamentals, which is proving very robust to the current oil price environment and to an increasingly carbon-conscious world. Gas is, rightly, seen as a cleaner alternative to coal and oil.
The energy sector is in a period of some transition, with oil prices having fallen significantly since 2014, which has put considerable strain on the global oil & gas industry, despite the recent partial recovery in oil prices. We observe a “new order” emerging, with the market increasingly rewarding companies with low debt levels, strong management, cash on the balance sheet and a bias for gas.
Despite the challenging sector backdrop, Sound Energy is positioned in a sweet spot – analogous to being in the peaceful eye of a violent storm – with an opportunity to grow boldly and counter-cyclically whilst valuations are low and competition is limited.
We are focused on unlocking the Moroccan gas promise, which includes:
Proving further volumes with three bold exploration wells in Eastern Morocco (starting mid 2018), each with multi Tcf potential
De-risking of its 31 Tcf exploration potential in Eastern Morocco and up to 9 Tcf in Sidi Moktar through shooting new seismic and aerial gradiometry
Development of its existing 0.6 Tcf gas discovery
Consolidating our onshore gas position in Morocco
So, in summary, Sound Energy is a focused on “shaping moves” and working to deliver a substantial gas company.
James Parsons
Chief Executive Officer
20: Paul Vonk, Managing Director at Angus Energy (LON:ANGS)
October 15, 2018 • 11 MIN
Paul Vonk, Managing Director at Angus Energy PLC discusses the latest developments at the Balcombe Field Well Test Result.
Angus Energy announced the Completion of the 7-Day Well Test at Balcombe, produced allowed a natural flow at 853 bopd equivalent, not including 22.5% water. A second flow period was undertaken with the well flowing naturally at 1,587 bopd equivalent, not including 6.6% water.
The Balcombe-2z well produces from a single Micrite Layer, just one of the Kimmeridge Micrite Layers. During the initial flow period, the well slugged at up to 3,000 barrels per day which had to be reduced as it exceeded separator operating capacity. Duration of the test runs was limited.
Paul Vonk, Managing Director of Angus Energy stated:
"We are obviously pleased with the results of the Balcombe-2z flow test and encouraged as we take our next steps towards producing from the Kimmeridge layers in the near future at the Brockham Field. This programme was successful because our team at Angus and our service providers maintained the highest standards, the most important of all being safe operations."
The Balcombe Field Discovery is a joint venture between Cuadrilla Balcombe Limited, Lucas Bolney Limited and Angus Energy. Angus Energy assumed Operatorship of the Balcombe licence on behalf of the partnership in July of 2018.
19: Mike Edwards, president and co-founder of Argo Blockchain PLC (LON:ARGO) Interview
October 3, 2018 • 5 MIN
Argo Blockchain plc is a global data centre management business that provides a low-cost, flexible and user-friendly platform for the mining of leading crypto-currencies. Our cloud-based Mining as a Service (Maas) platform is available at scale to anyone, anywhere in the world on a monthly subscription. It empowers consumers without significant technical knowledge of crypto-mining, computing expertise or the required complex hardware with the opportunity to mine Bitcoin Gold, Ethereum, Ethereum Classic and Zcash. Argo is headquartered in London, UK and operates a state-of-the-art data centre in Quebec, Canada.
18: David Bramhill Executive Chairman-Union Jack Oil PLC (AIM:UJO)
October 3, 2018 • 18 MIN
**Proposed Farm-in for a 16.667% Interest in the Major West Newton Gas Discovery**
**Oversubscribed Placing and Subscription to raise £2.25 Million**
This a really big announcement today for Union Jack Oil PLC and we spoke with David about today's news update and how this could be a company changer.
The Directors of Union Jack Oil plc (AIM: UJO) are pleased to announce that the Company has agreed terms with Rathlin Energy (UK) Limited ("Rathlin"), a wholly owned subsidiary of Canadian registered Connaught Oil & Gas Ltd ("Connaught"), on a proposed farm-in for a 16.667% licence interest in PEDL183 ("Proposed Farm-in"). PEDL183 is located onshore UK in East Yorkshire and within the Western sector of the Southern Zechstein Basin and contains the significant West Newton A-1 gas discovery (Best Estimate Contingent Resource 189 Bcfe or 31.5 MMboe gross), where the drill-ready West Newton conventional appraisal well is planned to be drilled in Q1 2019.
**Proposed Farm-in Highlights**
· Acquiring a 16.667% interest in the large 176,000 acre PEDL183 licence containing the significant West Newton A-1 UK onshore gas discovery
· Attractive farm-in terms with no cash costs up front with all funding going towards drilling and licence costs
· Best Estimate Contingent Resources of 189 Bcf of gas equivalent or 31.5 million barrels of oil equivalent (gross) assigned to West Newton in a Competent Persons Report
· West Newton A-1 gas discovery is on-trend with the prolific offshore Hewett gas complex
· Proximity to existing gas pipelines and infrastructure
· Drill-ready conventional appraisal well planned to be drilled in Q1 2019 to appraise the gas discovery
· Compelling immediate and future economic value from a development of the gas discovery alone
· Operator's NPV10% of US$247 million and 52.5% ROR for the gas discovery alone
· Attractive acquisition metrics of less than US$0.30 per barrel of oil equivalent for the gas discovery alone
· Considerable upside potential from the lower Cadeby Reef oil exploration target underlying the gas reservoir that will also be drilled with Best Estimate Prospective Resources of 79.1 million boe (gross)
· Further significant upside potential from other numerous prospects and leads
· A successful appraisal well in Q1 2019 is expected to deliver a major onshore gas development
**Fundraising and Commercial Partner Highlights**
· £2.25 million raised before expenses in an oversubscribed Fundraising to fund the Proposed Farm-in and associated well costs
· Union Jack's Commercial Partner, Humber Oil & Gas Limited ("Humber"), has participated on identical terms in the Proposed Farm-in and will result in it also acquiring a 16.667% interest
· Humber director has a beneficial interest in 13% of the pre-placing issued share capital of Union Jack held by G.P. (Jersey) Limited which has increased its shareholding to 15% of the Company's share capital as enlarged by the Fundraising
**David Bramhill, Executive Chairman of Union Jack, commented:**
"The Proposed Farm-in to PEDL183 containing the material West Newton gas discovery represents a significant project technically and is compelling financially for Union Jack and we are grateful for the continuing support of our existing shareholders and new investors who have participated in this oversubscribed fundraising".
"The funds raised will allow us to acquire a 16.667% interest in PEDL183 on attractive farm-in terms, and progress the drilling of the material West Newton conventional appraisal well, where success is expected to deliver a significant onshore gas development going forward and be transformational for Union Jack."
"We look forward to working with Rathlin and Humber, drilling the West Newton conventional appraisal well to firm up the project's significant potential and, upon a successful appraisal well, progress to a field development plan. Union Jack will book 5.3 million barrels of oil equivalent Contingent Resources to its existing reserve and resource portfolio on acquisition and once a field development plan is in place, West Newton's Contingent Resources can be converted to Reserves."
"Given our ongoing commitment to develop the Wressle oil discovery, and plans to commence drilling of the material Biscathorpe oil appraisal well during Q4 2018, the Proposed Farm-in and drilling of West Newton in Q1 2019 puts Union Jack in an even stronger position to deliver growth in reserves, production and asset value while adhering to our principles of strict financial and technical discipline."
Hayden Locke, CEO of Emmerson PLC (AIM:EML) Khemisset Project:Decline Design and Cost Estimate
September 18, 2018 • 5 MIN
We talk to Hayden Locke who is the CEO of Emmerson PLC about the announcement of their RNS this morning and what it means for the company and news to follow.
Highlights
Mining horizon proposed to be accessed by twin declines constructed using underground mining machinery, which will later be used in mining production
Direct capital cost estimate of mine access component approximately US$35m including 30% contingency, with potential to save upfront capital by using contract miners to complete works
Estimated capital cost saving of over 95%, or over US$1bn, relative to average Canadian potash mine development
This cost would place the Khemisset Potash Project in the lowest 10% for mine access cost for potash developments globally
Design and estimate completed by independent engineering group, Golder Associates ("Golder"), according to AusIMM guidelines for capital cost estimates
Enhances Management's strong belief in potential for Khemisset to be a low capital cost potash mine development
The preliminary design and cost estimates for the mine access is the first Scoping Study deliverable for the Khemisset Potash Project, which is set to be delivered in Q1 2019
#EMMERSON #MINING #EML
16: David Bramhill Executive Chairman-Union Jack Oil PLC (AIM:UJO)
September 6, 2018 • 29 MIN
Share Talk spoke with David about the RNS[Holmwood Update](https://www.investegate.co.uk/union-jack-oil-plc--ujo-/rns/holmwood-update/201809040700076380Z/) where Union Jack holds a 7.5% interest.
"Europa Oil & Gas (Holdings) plc, the UK and Ireland focused oil and gas exploration, development and production company, announces that it has been notified by the Head of Estates at the Forestry Commission that the Minister for the Environment, Food and Rural Affairs, has decided not to renew the lease at Bury Hill Wood, Coldharbour Lane, Surrey.
Bury Hill Wood is the proposed site for a temporary exploration well to test the conventional Holmwood prospect on licence PEDL 143 in the Weald Basin, Surrey. The lease expires on 12th September 2018.
Following the Minister's decision, the Company, on behalf of its partners, will be withdrawing its planning application to drill the Holmwood prospect from the Bury Hill Wood site.
The PEDL 143 licence remains valid and the Company, with its partners, intends to undertake a full evaluation of alternative sites from which to target the Holmwood prospect, and other plays in the basin. Europa Oil & Gas Limited is operator of PEDL 143 with a 20% interest..."
We also put shareholders questions to David and he is very open and honest in his replies.
Richard Conroy, Chairman - Conroy Gold & Natural Resources plc (AIM:CGNR) Update
September 5, 2018 • 17 MIN
Share Talk spoke with Richard Conroy to get answers to investors questions following the news of the recent placing. We asked the following questions:
With the announcement of raising £500,000, can you give more detail on how this cash will be used?
What is your business strategy and how this is underpinned by your operational plans?
Why invest in Ireland? What are the benefits to an investor? Are you looking at jurisdictional diversification?
Looking forward 12 months, what would a success look like for CGNR?
Would you consider refreshing and strengthening the BOD by bringing in an individual with a proven track record of mine development for example...
There seems to be interest in Irish gold with the recent acquisition of Dalradian. Is Conroy feeling similar interest in its business interests from external third parties and if so how could this translate to shareholder value crystallisation?
There are many voices expressing an interest in the company but concerns about the length of time the Company has been on market and the progress achieved?
For new investors, why choose Conroy Gold?
[disclaimer]
15: Andrew Bell, Chairman, Regency Mines PLC (AIM:RGM)
September 5, 2018 • 6 MIN
**Regency Mines forecasts $30mln revenue for its US coal project by next June.**
Andrew Bell, Regency Chairman, comments: "MET has got off to a good start, producing coal and establishing management and reporting systems. That so much has been achieved in a holiday month is a testament to the skills and dedication of the MET team and of LHR. The forecasts for sales and revenues represent a strong base case based on exhaustive analysis, and we look forward to further progress as the business develops."
MET expects to sell 59,250 tons of coal for a total revenue of $2,695,440 in September 2018\. This sales level reflects that being achieved on a daily basis in the latter part of August 2018\. For the ten-month period to June 2019 MET expects to sell 692,196 tons of coal for total revenues of $30,468,239.
Read: [Full RNS Update](https://www.investegate.co.uk/regency-mines-plc--rgm-/rns/sales-and-revenue-forecasts-at-met/201809040700086404Z/)