Leading International Investment Research, Edison Investment Research

Edison Investment Research

Leading International Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

Equity Bottom-Up

<p>On 5 July Canacol Energy issued an operating update that included gas sales and drilling results. June 2023 gas sales were 186mmcf/day, down from 199mmcf/day last year, but within guidance. Management also explained progress at the Lulo-2 and Chimela-1 wells. This confirms the company is on track to meet guidance.</p>

On 5 July Canacol Energy issued an operating update that included gas sales and drilling results. June 2023 gas sales were 186mmcf/day, down from 199mmcf/day last year, but within guidance. Management also explained progress at the Lulo-2 and Chimela-1 wells. This confirms the company is on track to meet guidance.

Canacol Energy - On track to meet guidance

<p>Canacol Energy has solid visibility of its cash flows on the back of its long-term gas contracts. Production is set to ramp up significantly once a new pipeline is operational in 2024. This will allow the company to start generating significant cash flows, which will be used to grow the business and potentially give higher returns to shareholders. This is an exciting time for Canacol and investors should start focusing on potential returns. The shares are well backed by our asset valuation of C$23.7794/share.</p>

Canacol Energy has solid visibility of its cash flows on the back of its long-term gas contracts. Production is set to ramp up significantly once a new pipeline is operational in 2024. This will allow the company to start generating significant cash flows, which will be used to grow the business and potentially give higher returns to shareholders. This is an exciting time for Canacol and investors should start focusing on potential returns. The shares are well backed by our asset valuation of C$23.7794/share.

Canacol Energy - Poised for strong growth

Equity Capital Markets and Advisory Business, Auctus Advisors

Auctus Advisors

Equity Capital Markets and Advisory Business

Auctus Advisors is a specialist Equity Capital Markets and Advisory business with a focus in the Energy Sector. The partners have complementary skill sets, with decades of experience across Equity Capital Markets, Investment Banking and the Energy industry. We have worked at Société Générale, Canaccord Capital, BMO Capital Markets and Schlumberger. Most recently we have worked together for many years at GMP FirstEnergy. Auctus has been set up at the beginning of a new decade in which we see significant opportunities in the Energy space. Globally, demand for energy is at record levels and continues to grow. Conversely, investment in traditional energy sources has been severely constrained. We believe this imbalance creates opportunities for both companies and investors. Auctus provides Corporate Broking, Equity Research and Investment Banking services.

Thematic (Sector/Industry)

<ul>
<li>Tethys Oil (TETY SS)C; target price of SEK100 per share: Increasing further the size of the prize/Considering Algeria – The South Lahan area on Block 58 is estimated to hold 55-523 mmbl prospective resources (P90-P10 case) with a mean case of 251.8 mmbbl prospective resources across six prospects in the Ara Carbonate.</li>
<li>Combined with the previously disclosed prospective resources of the Fahd area in the north-eastern part of Block 58, Tethys Oil’s unrisked recoverable prospective resources on the block are estimated to be 435.9 mmbbl (Pmean).</li>
<li>The geological chance of success ranges from 6% to 11% for the six new prospects.</li>
</ul>


Tethys Oil (TETY SS)C; target price of SEK100 per share: Increasing further the size of the prize/Considering Algeria – The South Lahan area on Block 58 is estimated to hold 55-523 mmbl prospective resources (P90-P10 case) with a mean case of 251.8 mmbbl prospective resources across six prospects in the Ara Carbonate.
Combined with the previously disclosed prospective resources of the Fahd area in the north-eastern part of Block 58, Tethys Oil’s unrisked recoverable prospective resources on the block are estimated to be 435.9 mmbbl (Pmean).
The geological chance of success ranges from 6% to 11% for the six new prospects.


Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Equity Research Firm

<ul><li>The government of Colombia seeks to accelerate the country’s path toward net zero emissions, while investors question the implications for the country’s oil &amp; gas industry.</li><li>This report is the third in a three-part WTR Energy Focus series on Colombia. It follows Oil &amp; Gas Operators Guiding for Bottom-Up Growth… and Striking a Balance Between Energy Security and Fiscal Stability.</li><li>Colombia’s natural gas demand will increase due to an energy transition and upstream operators with gas exposure realizing strong gas prices in an undersupplied market (as shown on right).</li></ul>

The government of Colombia seeks to accelerate the country’s path toward net zero emissions, while investors question the implications for the country’s oil &amp; gas industry.This report is the third in a three-part WTR Energy Focus series on Colombia. It follows Oil &amp; Gas Operators Guiding for Bottom-Up Growth… and Striking a Balance Between Energy Security and Fiscal Stability.Colombia’s natural gas demand will increase due to an energy transition and upstream operators with gas exposure realizing strong gas prices in an undersupplied market (as shown on right).

Energy Focus: Colombia Series (3 of 3) - The Path to Net Zero and Implications for Oil & Gas

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


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


Canada

Canacol Energy Limited is an international junior energy company with production and exploration operations located in South America. The Company's operations are focused in Colombia, with operations also in Ecuador.

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Canacol Energy (CNE CN)

Canacol Energy - On track to meet guidance

On 5 July Canacol Energy issued an operating update that included gas sales and drilling results. June 2023 gas sales were 186mmcf/day, down from...

Edison Investment Research

Canacol Energy - Poised for strong growth

Canacol Energy has solid visibility of its cash flows on the back of its long-term gas contracts. Production is set to ramp up significantly once a...

Edison Investment Research

AUCTUS ON FRIDAY - 19/04/2024

Tethys Oil (TETY SS)C; target price of SEK100 per share: Increasing further the size of the prize/Considering Algeria – The South Lahan area on...

Auctus Advisors

Energy Focus: Colombia Series (3 of 3) - The Path to Net Zero and Implications for Oil & Gas

The government of Colombia seeks to accelerate the country’s path toward net zero emissions, while investors question the implications for the...

Water Tower Research

AUCTUS ON FRIDAY - 15/03/2024

The Welchau well (ADX WI: 75%) encountered 115 m of liquids-rich gas shows in the primary target formation (Steinalm Formation) between 1452 m and...

Auctus Advisors

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