External reports (aggregated public sources), Value Investors Club

Value Investors Club

External reports (aggregated public sources)

Equity Bottom-Up

<ul><li>Genel Energy is a high-risk arbitration opportunity with potential for significant reward due to its legal dispute with the Kurdistan government</li><li>Despite previous market capitalization reduction in the 2014 oil crisis, Genel Energy is now an undervalued asset with strong cash position and minimal debt</li><li>With current market cap at £210 million and significant cash reserves, the company has notable potential for growth, but the unpredictable nature of the situation makes it difficult to model or quantify with certainty</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.</em></p>

Genel Energy is a high-risk arbitration opportunity with potential for significant reward due to its legal dispute with the Kurdistan governmentDespite previous market capitalization reduction in the 2014 oil crisis, Genel Energy is now an undervalued asset with strong cash position and minimal debtWith current market cap at £210 million and significant cash reserves, the company has notable potential for growth, but the unpredictable nature of the situation makes it difficult to model or quantify with certaintyThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Genel Energy (GENL.L) - Monday, Feb 26, 2024

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.

<ul><li>________________________________________ ADX Energy (ADX AU)C; target price of A$0.80 per share: Drilling commences at Anshof-2 – Drilling at Anshof-2 has started.</li><li>Arrow Exploration (AXL LN/CN)C; target price of £0.55 per share: High flow and a new discovery at RCE-6.</li><li>Re-iterating FY23 guidance - 3Q23 production of 19,961 bbl/d and net cash at the end of September of ~US$103 mm had already been announced.</li></ul>

________________________________________ ADX Energy (ADX AU)C; target price of A$0.80 per share: Drilling commences at Anshof-2 – Drilling at Anshof-2 has started.Arrow Exploration (AXL LN/CN)C; target price of £0.55 per share: High flow and a new discovery at RCE-6.Re-iterating FY23 guidance - 3Q23 production of 19,961 bbl/d and net cash at the end of September of ~US$103 mm had already been announced.

Thematic (Sector/Industry)

<ul>
<li>ADX Energy (ADX AU)C; target price of A$0.10 per share: Growing production.</li>
<li>Anshof-3 production performance continues to exceed expectations with strong pressure support and deliverability with no water production.</li>
<li>Calima Energy (CE1 AU)C; target price of A$0.50 per share: Increasing dividend distribution to ~10% yield - 2Q23 production was 4,152 boe/d, above the estimates provided previously (4,125 boe/d).</li>
</ul>


ADX Energy (ADX AU)C; target price of A$0.10 per share: Growing production.
Anshof-3 production performance continues to exceed expectations with strong pressure support and deliverability with no water production.
Calima Energy (CE1 AU)C; target price of A$0.50 per share: Increasing dividend distribution to ~10% yield - 2Q23 production was 4,152 boe/d, above the estimates provided previously (4,125 boe/d).


<ul><li>Arrow Exploration (AXL LN) C; Target price of £0.45 per share: Adding reserves in Colombia – Arrow’s 1P, 2P and 3P reserves were estimated at respectively 3.4 mmboe, 7.7 mmboe and 11.7 mmboe at YE22.</li><li>This includes 2.1 mmboe 2P reserves and 4.3 mmboe 3P reserves at the company’s core assets in Colombia (Tapir and Oso Pardo).</li><li>Calima Energy (CE1 AU) C; Target price of A$0.50 per share: Replacing over 100% of produced reserves – YE22 net 2P reserves have been estimated at 20.5 mmboe (net of royalty), up 1% compared to YE21.</li></ul>

Arrow Exploration (AXL LN) C; Target price of £0.45 per share: Adding reserves in Colombia – Arrow’s 1P, 2P and 3P reserves were estimated at respectively 3.4 mmboe, 7.7 mmboe and 11.7 mmboe at YE22.This includes 2.1 mmboe 2P reserves and 4.3 mmboe 3P reserves at the company’s core assets in Colombia (Tapir and Oso Pardo).Calima Energy (CE1 AU) C; Target price of A$0.50 per share: Replacing over 100% of produced reserves – YE22 net 2P reserves have been estimated at 20.5 mmboe (net of royalty), up 1% compared to YE21.

<ul>
<li>Arrow Exploration (AXL LN) C; Target price of £0.45 per share: Good flow rate at RCE-4 – The RCE-4 well has been put in production.</li>
<li>This is a similar result as at RCE-3 (24 h flow rate of 968 bbl/d gross/484 bbl/d net).</li>
<li>Serinus Energy (SEN LN): FY22 results – FY22 production was 889 boe/d including 379 boe/d in Romania and 510 boe/d in Tunisia.</li>
</ul>


Arrow Exploration (AXL LN) C; Target price of £0.45 per share: Good flow rate at RCE-4 – The RCE-4 well has been put in production.
This is a similar result as at RCE-3 (24 h flow rate of 968 bbl/d gross/484 bbl/d net).
Serinus Energy (SEN LN): FY22 results – FY22 production was 889 boe/d including 379 boe/d in Romania and 510 boe/d in Tunisia.


United Kingdom

Gulf Keystone Petroleum Limited is an independent oil company. The Company operates Shaikan Field, one of the largest developments in the Kurdistan Region of Iraq.

James Fisher & Sons P.L.C. is an ocean shipping company. The Company's operations include shipowning, ship management, chartering, freight forwarding, and insurance consulting.  Fisher also operates as ships' agency, in shipbroking, contracting, stevedoring, transport, port operations, and warehousing. The Company operates in the United Kingdom.

Pantheon Resources plc, through its subsidiaries, explores and produces oil and gas in the United States. The company owns a 50% working interest in four projects located in Tyler and Polk counties, East Texas. It also holds a 25% working interest in a project in Polk County, East Texas. The company was founded in 2005 and is headquartered in London, the United Kingdom.

Savannah Energy PLC is a leading African focused British independent energy company with current operations in Nigeria and Niger, where the Company is sustainably developing high-quality and high-growth projects.

Hargreaves Services plc sources, produces, processes, handles, and transports carbon-based and other bulk materials in the United Kingdom and Europe. It operates in three segments: Coal Production and Distribution, Industrial Services, and Transport. The Coal Production and Distribution segment provides coal, coke, minerals, smokeless fuel, and biomass products to a range of industrial, wholesale, and public sector energy consumers. The Industrial Services segment offers contract management services to the power generation, utilities, chemicals, minerals, and steel industries. The Transport segment provides bulk logistic services. The company owns or operates nine surface coal mines, including seven in Scotland; one in Wales; and one in England, as well as four port terminals. In addition, it engages in the steel services business in South Africa; operates a fleet of 450-strong HGV trucks; haulage, mineral import, and processing; smokeless fuel briquette manufacturing; and wind and renewable energy business, as well as provides engineering maintenance services. Hargreaves Services plc was founded in 1994 and is based in Durham, the United Kingdom.

Hurricane Energy plc, together with its subsidiaries, engages in the exploration of oil and gas properties in the United Kingdom. The company holds interests in Lancaster basement discovery, Whirlwind basement discovery, Lincoln basement, Typhoon basement, Warwick basement, and Strathmore sandstone discovery prospects located to the West of Shetland. It has 100% interest in 450 million barrels of 2C contingent resources. The company was formerly known as Hurricane Exploration plc and changed its name to Hurricane Energy plc in April 2013. Hurricane Energy plc was founded in 2005 and is headquartered in Godalming, the United Kingdom.

Pharos Energy PLC is an independent oil and gas exploration and production company. The Company focuses on growth and returns to stakeholders, headquartered in London and listed on the London Stock Exchange. Pharos Energy has production, development, and exploration interests in Egypt, Israel, and Vietnam.

Rockhopper Exploration Plc operates as an oil and gas exploration and production company in the United Kingdom. It engages in the exploration and exploitation of its oil and gas acreage primarily in the North Falkland Basin and the Greater Mediterranean region. It holds 95.50% interests in the PL003a production licenses; 60.50% interests in PL003b production licenses; 64.00% interests in PL004a, PL004b, and PL004c production licenses; 100% interests in PL005 production licenses; and 40% interests in PL032 and PL033 production licenses. The company also holds a portfolio of production and exploration interests in Italy, Malta, and Croatia. Rockhopper Exploration Plc was founded in 2004 and headquartered in Salisbury, the United Kingdom.

NWF Group plc, together with its subsidiaries, engages in the agricultural and distribution business delivering feed, food, and fuel in the United Kingdom. The company?s Feeds segment manufactures and sells animal feed and other agricultural products to farmers, as well as supplies seeds. Its Fuels segment sells and distributes domestic heating, industrial, and road fuels to domestic and commercial customers; and distributes fuel cards. This segment operates a network of 17 fuel depots. The company?s Food segment is involved in the warehousing and distribution of ambient grocery and other products to supermarket and other retail distribution centers. The company is also involved in agriculture nutritional advisory business. NWF Group plc was founded in 1871 and is headquartered in Nantwich, the United Kingdom.

Afentra PLC is an independent Oil & Gas company focused on the African Energy Transition. The Company has a current interest in a high potential exploration project, onshore southwestern Somaliland.

Siamgas & Petrochemicals PCL distributes liquefied petroleum gas (LPG). The Company provides LPG, ammonia and other related petrochemical products such as propane, butane and propellant. Siamgas is also involved in the logistics services for LPG and petrochemical products.

Qinghai Jinrui Mineral Development Company Ltd. explores and develops strontium mines, as well as manufactures casting products.

Qinghai Jinrui Mineral Developmnt (600714 CH)

Hallador Energy Company processes, mines and sells coal to producers of electric power.  The Company also owns interests in an oil and gas company with operations in Michigan.

Sinopec Shandong Taishan Petroleum Co., Ltd. distributes gasoline, diesel oil, and kerosene throughout Shandong province. Through its subsidiaries. The Company also operates in real estate development.

PT Rukun Raharja Tbk operates transmission lines and distributes natural gas to industry.

SALA CORPORATION is a holding company which operates and manages its subsidiaries.  The Company provides energy supply and solution, and facility management services through its subsidiaries.  Other services include infrastructure development, animals' health care, auto services, and logistic business.

Bannerman Resources Ltd. explores for uranium in Australia and Africa.

Warrego Energy Limited operates as an oil and gas exploration company. The Company provides onshore oil and gas services. Warrego Energy serves customers in Western Australia, Spain, and Uruguay.

Ring Energy Inc is an independent oil and gas exploration company with headquarters in Midland, Texas. The Company's business strategy is focused on the exploration, development and acquisition of oil and natural gas properties in the Permian and Mid-Continent regions of the United States.

Hankook Shell Oil Co., Ltd. manufactures and markets lubricants, grease, and other petroleum products used for cars, vessels, industrial machinery, and cutting tools.  The Company exports its products to Southeast Asian countries, Russia, and China.  Hankook Shell is an affiliate of Royal Dutch Shell Group.

Genel Energy PLC  specializes in investing in oil and natural gas assets. The Company has stakes in producing oil fields, a gas condensate discovery and exploration acreage, all in the Kurdistan Region of Iraq.

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Genel Energy (GENL LN)

Genel Energy (GENL.L) - Monday, Feb 26, 2024

Genel Energy is a high-risk arbitration opportunity with potential for significant reward due to its legal dispute with the Kurdistan government

Value Investors Club

Auctus on Friday - 03/02/2023

________________________________________ ADX Energy (ADX AU)C; target price of A$0.80 per share: Drilling commences at Anshof-2 – Drilling at...

Auctus Advisors

Auctus on Friday - 04/08/2023

Anshof-3 production performance continues to exceed expectations with strong pressure support and deliverability with no water production.

Auctus Advisors

Auctus on Friday - 31/03/2023

Arrow Exploration (AXL LN) C; Target price of £0.45 per share: Adding reserves in Colombia – Arrow’s 1P, 2P and 3P reserves were estimated at...

Auctus Advisors

Auctus on Friday - 24/03/2023

Arrow Exploration (AXL LN) C; Target price of £0.45 per share: Good flow rate at RCE-4 – The RCE-4 well has been put in production.

Auctus Advisors

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