Member Info for SEA7

I note two trades just before the close, totalling about £1.3m today - both buys by the look of it.

https://www.investorschronicle.co.uk/news/2022/07/07/renewed-focus-on-africa-in-global-oil-and-gas-rush/

Afentra (AET), a new company set up last year as an acquisition shell, is in the final stages of buying stakes in two blocks held by Angola state oil and gas company Sonangol. The $130mn deal is for non-operated stakes in shallow water fields, with around 50 wells producing a total of 4,000 barrels of oil per day (bopd), net Afentra.

https://www.oilreviewafrica.com/exploration/industry/afentra-co-founder-to-drive-sustainable-hydrocarbon-dialogue-at-aew-2022-in-cape-town

Under a mission to become the trusted partner of both IOCs and host governments in the divestment of legacy assets, Afentra is gradually strengthening its footprint across the African energy sector, with new acquisitions broadening the company’s portfolio. Recently, Afentra signed an agreement with Angola’s national oil company, Sonangol, for the purchase of interests in Block 3/05 and Block 23, offshore Angola – representing the company’s entry into the now biggest oil producer on the continent. As Afentra expands into other high potential markets across Africa, the future of the continent’s oil and gas sector seems bright, with independents leading the way towards a sustainably developed hydrocarbon industry.

Namibia’s finance minister said uranium miners are waiting for prices to recover before reviving projects in Africa’s biggest producer of the ore, which is needed for nuclear power in a world shifting away from fossil fuels.

“If the price reaches $65-$70 a pound, then that will trigger more investment in uranium.”

https://www.bloomberg.com/news/articles/2022-05-30/uranium-investors-await-price-rally-to-revive-namibia-projects

https://www.bne.eu/radioactive-central-europe-remains-highly-exposed-to-russian-uranium-249827/?source=bulgaria

Europe’s nuclear power sector is starting to worry about its fuel stocks as Russia’s invasion of Ukraine is calling into question the security of uranium supplies and processing services provided by Russia.

bouncing back with chunky buys

yep - just got online today - missed the main part of the drop - got more at 1.43... this is updating almost old news, we knew that this was likely to be the outcome from the may announcement.

no one knows anything - volume, trades sizes etc are just churn.

https://twitter.com/SegraCapital/status/1542879028323012609/photo/1

note the rns today - outstanding u308 received by yellowcake

https://sam.gov/opp/09e6cfffb33742888cfcdab4c233662e/view?s=08

The U.S. Government are now officially in the market to purchase I million lbs of U.S mined uranium

this is boredom selling by retail that is driving it lower.

https://www.otcmarkets.com/stock/YLLXF/quote

The 1.4m trades are a rollover - likely a T20 trader

Tennyson initiation note may 22..

A combination of modest cash operating costs (~US$6/boe), high realisations (Brent less US$1.85/bbl) and favourable economic terms (42.5% entitlement share) means the produced oil boasts healthy net backs of US$25-29-33/boe at US$80-90-100/bbl Brent prices.

We forecast FY22e production of 1.6 kboepd net to UOG

so, a net back of $25 on 1.6k boepd is $14.6m (£11.9m) pa. We are currently seeing over the $33 net back in the £100 scenario above, extracted from the note.

The company should provide some guidance on its performance for Q2 in mid july or thereabouts.

malcy from end may

https://www.proactiveinvestors.co.uk/companies/news/983677/malcy-s-blog-oil-price-dec-ujo-egdon-rockhopper-arrow-echo-uog-and-finally-983677.html

The shares have also underperformed, down some 50% on a year, maybe just having Egypt for ‘regulation production’ means that any slip-ups are punished and perhaps there might be one more change in the portfolio yet to come, possibly something with exploration upside. Having said that the value of Egypt on its own must be more than the current market cap so whatever happens the shares are probably too cheap.

https://www.geoexpro.com/articles/2022/04/energy-opportunity-offshore-jamaica

a discovery of the mean 406 MMboe resources at Colibri would still be commercial with an oil price as low as US$30/bbl. At US$60/bbl, the mean Colibri resource potential is estimated to be capable of generating a >30% IRR and an NPV10 of US$2.5 billion.

United is offering a material interest and operatorship to suitably qualified parties in the licence in return for a commitment to fund a well to test the Colibri Prospect before January 2026, which would fulfil the obligations for the second exploration period of the Licence. A 2021 study by OPC estimates this well is likely to cost around US$30 million based on current rig rates.

https://www.morganstanley.com/pub/content/imweb/im/en-us/institutional-investor/insights/articles/the-nuclear-revival-embracing-a-clean-reliable-safe-source-of-energy-video/

https://www.youtube.com/watch?v=GaKfdUc1zTI

courtesy of a poster on another board...

Numerco's spot price closed up today at $46.84. And for the first time in a few weeks, SPUT raised money on its ATM, indicating it traded more than 1% above NAV. It only raised ~$7.5m, but a step in the right direction.

SPUT Tracker:

https://docs.google.com/spreadsheets/d/1cH_2BM6T48FJDP8ShHBL9IRGFbR99ChH_SPSAWRGvt0/edit#gid=532762655