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Canacol Energy issued an operational update on 3 August that included gas sales and drilling plans. July 2023 gas sales were 197mmcf/day, in line with sales a year earlier. However, perhaps more importantly, the group is mobilising two additional rigs to increase production capacity to meet potential higher demand due to the emerging El Niño effect.

Canacol Energy issued an operational update on 3 August that included gas sales and drilling plans. July 2023 gas sales were 197mmcf/day, in line with sales a year earlier. However, perhaps more importantly, the group is mobilising two additional rigs to increase production capacity to meet potential higher demand due to the emerging El Niño effect.

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>Criterium Energy (CEQ CN) C; target price of C$0.55 per share: Financing priced – The C$22 mm offering for the acquisition of Mont D’Or Petroleum has been priced at C$0.20 per subscription receipt.</li>
<li>Each subscription receipt will convert into a unit comprising one share and one warrant with an exercise price of C$0.25 per share valid for 36 months.</li>
<li>On completion of the acquisition, Criterium will hold 1,050 bbl/d long life and high netback production and 4.7 mmbbl 2P reserves across 2 PSCs in Indonesia (Tungkal in South Sumatra and West Salawati in Southwest Papua). </li>
</ul>


Criterium Energy (CEQ CN) C; target price of C$0.55 per share: Financing priced – The C$22 mm offering for the acquisition of Mont D’Or Petroleum has been priced at C$0.20 per subscription receipt.
Each subscription receipt will convert into a unit comprising one share and one warrant with an exercise price of C$0.25 per share valid for 36 months.
On completion of the acquisition, Criterium will hold 1,050 bbl/d long life and high netback production and 4.7 mmbbl 2P reserves across 2 PSCs in Indonesia (Tungkal in South Sumatra and West Salawati in Southwest Papua). 


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.

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

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 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

<ul><li>Arrow Exploration (AXL LN/CN)C; target price of £0.50 per share: No flow from the Gacheta but overall reserves addition from CN-1 larger than initially expected – The Gacheta zones proved unproductive at the CN 1 well location.</li><li>Management is investigating potential reasons for the lack of productivity and plans to re-evaluate these Gacheta zones in future wells.</li><li>Jadestone Energy (JSE LN): New equity raise – Jadestone Energy has raised US$50 mm of new equity priced at 45p per share.</li></ul>

Arrow Exploration (AXL LN/CN)C; target price of £0.50 per share: No flow from the Gacheta but overall reserves addition from CN-1 larger than initially expected – The Gacheta zones proved unproductive at the CN 1 well location.Management is investigating potential reasons for the lack of productivity and plans to re-evaluate these Gacheta zones in future wells.Jadestone Energy (JSE LN): New equity raise – Jadestone Energy has raised US$50 mm of new equity priced at 45p per share.

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 - Increasing activity

Canacol Energy issued an operational update on 3 August that included gas sales and drilling plans. July 2023 gas sales were 197mmcf/day, in line...

Edison Investment Research

Auctus on Friday - 07/07/2023

Criterium Energy (CEQ CN) C; target price of C$0.55 per share: Financing priced – The C$22 mm offering for the acquisition of Mont D’Or Petroleum...

Auctus Advisors

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 - 09/06/2023

Arrow Exploration (AXL LN/CN)C; target price of £0.50 per share: No flow from the Gacheta but overall reserves addition from CN-1 larger than...

Auctus Advisors

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