Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Anchois appraisal well has revitalized the Moroccan oil and gas industry imo. The excitement of exposure to Morocco oil and gas acreage can be game changing. The offshore find especially with Moroccan oil and gas price royalty benefits that the companies get is going to attract more capital for exploration both onshore and offshore Morocco imo, like PRD recently.
SDX sadly has Egyptian operations holding it back - and no exciting value creation exploration or appraisal opportunities.
Given the appraisal success for CHAR, they should also look at offshore Morocco oil prospects as well which London listed Europa oil and gas, EOG, seems to be looking to farm out in the Agadir basin. Chariots could give it a shot at oil exploration offshore Morocco with EOG, given the royalties etc. E&Ps can get.
https://www.offshore-energy.biz/europa-oil-gas-says-its-new-morocco-block-has-enormous-potential/
And on a side note ; EOG also has a North Sea appraisal well Serenity coming up this summer with i3e. Might be worth researching it, given its an appraisal well like Anchois was, and coming up on Serenity oil field in the North sea. All imo dyor
The amount of recommendations that your post received seems to suggest that a lot of i3e holders are interested in getting pure play exposure to Serenity appraisal well this summer via EOG.
And given that i3e holders do seem to pick winners - like the i3e management team (re Canadian acquisitions), EOG definitely might be a great way for reliving the North Sea exploration excitement. And EOGs net share of 25mn recoverable at Serenity is comparable with Jade prospect that EME is currently targeting. EME has reached £75mn even before the spud time, might be a good proxy for pre drill run up especially given currently EOG has a market cap of £24mn, with other aspects in play as well for EOG, like Morocco oil drilling prospects/farm out, oil production etc. Worth a look imo, dyor .
This and our Serenity field partner EOG both imo. i3e should look for a share buyback to complement dividend.
I think too that i3e being picked up by the American and Canadian retail investors is boosting the sentiment especially after the Canadian retail investors valuation video. Not many Canadian peers have north sea exploration exposure.
Repsol is also nearby. A tie back maybe a fast pay back option. After all its a discovery that needs appraisal. Once appraisal succeeds then monetization of the specific reserves can begin. Having an existing discovery derisks the prospects.
CHAR was also appraising an existing discovery - just like i3e and EOG would be. There is a reason the CEO has said this farm in is going to be transformational for EOG and he took part for £50k worth of raise .
Cont.-
"Scrap my spud time market cap I suggested yesterday as DELT and PRD are targeting gas, while EOG is after oil and as we know oil is usually more valuable than gas.
So the best proxy for spud time market cap currently is EME. And their market cap of £75mn currently means a possibility of EOG reaching at least £50mn-60mn imo. Especially as EMEs Jade prospect is targeting same volumes as EOGs net share of Serenity prospect ;"
Post from other bb;
"EMEs 225mn barrels sounds great for Jade, but that's the Pmean figure and is looking at total oil in place and not recoverable oil. If we take the P50 oil in place figure of 187 mn and multiply that by a 30% recovery factor and assume CNOOC exercises it's back in rights, then the actual size of the drill net to EME is around 187 x 0.30 x 0.49 = 27.5 mn barrels.
And this compares with EOGs 25mn of Serenity. And the big difference being EOGs 25mn estimate is via an appraisal target with much high CoS while EMEs has lower CoS. All imo "
Guess we know where the capital from EME, post drill, is going to be moving to?
I'm a holder of i3e as well. And I agree i3e is the safer play for Serenity but it's gains would be lower than EOG if the so called herd arrives in droves pre drill. The impact of the herd would be much bigger on a £20mn market cap company compared to a £276mn market cap company. I3e has production that will underpin the share price and market cap while EOG will mostly be driven on Serenity play until drill results. But in addition EOG also has oil production of some 200 bopd so a nice £1mn per month income alongside Serenity play and Moroccan /Irish exploration prospects. At £20mn market cap you get what you pay for - just like with I3e at £275mn market cap.
No one wanted to buy I3e when we were stuck for ages between 4-6p near the placing price a year ago. And the 400%+ gain since then was rewarded because the first Canadian acquisition was a no brainer bottom of the oil market acquisition which had changed i3e prospects, just like EOGs prospects have changed since farming in 25% of serenity with i3e.
All imo dyor
Did the same and moved a bit more from i3e to EOG. I see i3e and EOG as part of the same bucket with the appraisal of Serenity oil field. I3e is relatively safe as it's a mid cap company that's paying divi - although more gas composition to its total production, while EOG gives more direct exposure to oil play of i3e Serenity field imo.
The broker was quick to restate and flag up risked-net asset value (NAV) and a price target of 6.7p, which is more than double the current share price
FinnCap Group PLC provided some succour for investors in Europa Oil & Gas Holdings PLC after Norwegian giant DNO ASA opted not to sell Europa a promising Irish gas exploration licence.
The broker was quick to restate and flag up risked-net asset value (NAV) and a price target of 6.7p.
That’s more than double the current share price.
“Clearly, DNO has had a change of heart about the attractiveness of this licence/prospect following the surge in European natural gas prices,” commented finnCap, which is Europa’s broker.
However, Finncap added: “The surge in European gas pricing should only improve the chances of finding a partner to fund drilling on this prospect.”
https://www.proactiveinvestors.co.uk/companies/amp/news/975614
If you wait for the EOG overhang to clear then you would not get a chance to buy at same levels as every buy will push the price up post the overhang clearing. I3e has less running room to the drill as a percentage of market cap as compared to EOG. EOG is being talked about on Twitter as well and more high net worth PIs are taking notice. If recent drill candidates are to be compared such as EME, PRD, CHAR, DELT then EOG can achieve a market cap of £50mn pre spud.
Yes and ex Athabasca founder as well. They have interesting couple of videos on SOUC website. And if interested in North Sea appraisal well on Serenity field EOG is another good play with some 300 bopd of oil production and big exploration coming up.