So there's been a lot of 5-10% spikes at the start of trading, before falling back - it's that time of year when even good news is ignored.
Meanwhile opinions vary about what's happening with Nordstream1 - Goldman reckons it's going to operate at 40% capacity after the maintenance is finished, but some people are talking about it not reopening at all. And Nippon Steel bought a cargo of LNG at $41/mmBtu, an all-time record (albeit still less than TTF at the moment).
Brent=$106.37(July) WTI=$103.13(July,Brent-3.24) Nymex gas=$7.31(July)
NBP =272p(July,Nymex+25.39) TTF=€161.500(August,Nymex+41.20) JKM=$37.485(September,Nymex+30.18)
Today 10:59 TotalEnergies SE (TTE)
TotalEnergies Has Definitively Withdrawn from Myanmar
https://www.investegate.co.uk/totalener ... 5900Z4207/
On January 21, 2022, TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) announced its decision to withdraw from the Yadana field and from gas transportation company MGTC in Myanmar, both as shareholder and as operator.... In accordance with the contractual 6-month notice period, this withdrawal becomes effective on this 20 July 2022.
Today 10:53 S.N.G.N. Romgaz S.A. (SNGR)
Related Party Transactions acc. 108 L24 from 2017
https://www.investegate.co.uk/s.n.g.n.- ... 53231468T/
Condensate sales to Petrom
Today 10:45 Vivo Energy (VVO)
Currency Exchange
https://www.investegate.co.uk/vivo-ener ... 45031406T/
Vivo Shareholders who hold their Vivo Shares on the South African Register will also receive their 2022 Special Dividend (subject to the sanctioning of the Scheme by the Court) in South African rand. Below are the respective amounts converted into South African rand:
Today 10:35 ADM Energy PLC (ADME)
Result of AGM
https://www.investegate.co.uk/adm-energ ... 35581414T/
at the Annual General Meeting of the Company held earlier today, all resolutions were duly passed.
Today 08:00 TotalEnergies SE (TTE)
Papua New Guinea: TotalEnergies Announces New Milestone towards Papua LNG Development
https://www.investegate.co.uk/totalener ... 0000Z4001/
has announced the decision of the Papua LNG joint venture to launch the first phase of front-end engineering and design (FEED) studies for the Papua LNG project's upstream production facilities. In parallel, studies for the downstream liquefaction facilities are progressing in line with the overall project schedule, and the objective is to launch the integrated FEED in the fourth quarter of 2022. The project is targeting a final investment decision (FID) around the end of 2023, and a start-up at the end of 2027.
Today 07:05 Pharos Energy PLC (PHAR)
Initiation of Share Buyback Programme
https://www.investegate.co.uk/pharos-en ... 05040463T/
is pleased to announce the initiation of a share buyback programme (the "Programme") to purchase up to approximately US$3 million (excluding stamp duty and expenses) of the Company's ordinary shares of 5p each ("Ordinary Shares"). The Programme will commence today and is expected to take three to six months to complete
[market cap £88m]
Today 07:00 Pharos Energy PLC (PHAR)
Trading and Operations Update July 2022
https://www.investegate.co.uk/pharos-en ... 00060462T/
· Group working interest H1 producti on 7,961 boepd net [74:26 Vietnam:Egypt]
· 2022 Full year Group working interest production guidance remains unchanged from 19 May 2022 trading update:
· Group revenue for H1 2022 of c.$129m before hedging loss of c.$17m
· Cash balances as at 30 June 2022 of $47.5m, net debt of $38.1m
· Planning well advanced for TGT & CNV development drilling programme, due to commence in September 2022
· Work on 3D seismic processing in Block 125 in Vietnam nearing completion
In Egypt, following the farm-out to IPR, investment has recommenced and production levels are starting to rebuild. Securing a rig on long-term contract positions us for continuous drilling in El Fayum over the next year and beyond, to monetise the significant 2P reserves base under the enhanced fiscal terms secured. In Vietnam, the three well development drilling programme is on track to commence in September, focused on sustaining production levels in the current high netback, fast payback environment. These operational plans build on the strong cash flows generated in H1 2022 and give us the confidence to allocate capital to commence a share buyback programme, announced today,
The transaction with IPR and transfer of operatorship completed on 21 March 2022. Working interest production is therefore reported as 100% through to completion and 45% thereafter. Production for the first half of 2022 from El Fayum averaged 3,142 bopd gross and 2,100 bopd net to Pharos. The Group's Egypt production guidance for 2022 remains unchanged at 1,350-1,800 bopd, equivalent to gross production of 3,000-4,000 bopd....
In the first six months of 2022, 42% of the Group's production was hedged, securing a minimum price for the hedged volumes of $67.2/bbl. For the remainder of 2022, 25% of the Group's forecast production is hedged, at a minimum price of $69.1/bbl. The Group's reserve based lending facility (RBL) requires the Company to hedge at least 35% of Vietnam RBL production volumes and the current hedging programme meets this requirement through to June 2023, leaving 75% of Group production unhedged.
The Company entered the year with cash of $27.1m and net debt of $57.5m. Cash balances as at 30 June 2022 were c.$47.5m with net debt of c.$38.1m.
[up 5% initially but fell back]
Today 07:00 Serica Energy PLC (SQZ)
Operations Update
https://www.investegate.co.uk/serica-en ... 00050365T/
The initial well (Bruce M1) was re-entered for the first time since 1998. After a successful scale removal and water shutoff, a significant reperforation and new perforation campaign was executed and the well returned to production. Production rates from the well have increased from around 400 boe/d before intervention to over 1,800 boe/d in July 2022. A similar programme was followed on the second well (Bruce M4) and production rates for the well have been increased from around 450 boe/d to over 2,400 boe/d. The results from these two wells are at the upper end of the range of expectations...Capital investment in the Bruce and Keith fields qualifies for investment relief under the recently announced Energy Profits Levy....
Operations have commenced on the high-impact and potentially transformational North Eigg exploration well. This gas prospect is located close to Serica's operated fields and infrastructure and is estimated to contain 60 mmboe (P50) and potentially over 236 mmboe (P10)...results expected in October 2022....
Serica's average net production in July has averaged over 29,150 boe/d and YTD average net production is 26,832 boe/d. Over 85% of our net production is gas.
Today 07:00 Chariot Limited (CHAR)
Material Increase in Gas Resource Offshore Morocco
https://www.investegate.co.uk/chariot-l ... 00050362T/
announce the results of Independent Assessments on its gas resources offshore Morocco, incorporating the results of the recent successfully drilled Anchois-2 appraisal and exploration well.
Anchois Gas Field:
• 82% increase in 1C contingent resources from 201 Bcf to 365 Bcf
• 76% increase in 2C contingent resources from 361 Bcf to 637 Bcf
• 49% increase in 2U prospective resources to 754 Bcf in three undrilled targets with an improvement in the probability of geological success, now ranging from 49 to 61 %
• Total remaining recoverable resource at Anchois (2C plus 2U) now stands at 1.4 Tcf
Additional Lixus Prospects:
• Combined, 2U prospective resources of 838 Bcf with an estimated probability of geological success ranging from 30-52%, with closely related additional targets in the areas surrounding the prospects
• The total remaining recoverable resources (2C plus 2U, comprising audited and internal Chariot estimates) in the entire Lixus portfolio stands at approximately 4.6 Tcf
Rissana Offshore:
• Early assessment of the areas covered by 3D seismic, provides a total 2U prospective resource of over 7 Tcf,
[initially up 10%, but fell back to where it started]
Today 07:00 UK Oil & Gas PLC (UKOG)
Operational Update
https://www.investegate.co.uk/uk-oil--- ... 00050320T/
Turkiye Resan Licence (UKOG 50% interest): continued examination of the new phase 1 seismic data has revealed a further potentially significant undrilled geological structure to the south of the Basur-1 oil discovery. The feature, currently known as Prospect B, shows the same geological structural style as the Basur discovery, bounded on its northern extent by a significant back-thrust fault. It appears to be of similar size to Basur upon first review. Further phase 2 seismic lines to the west will be required to confirm its size, prospective resource hydrocarbon volume, and to help define any future exploration well location....
the Company is now investigating the feasibility of linking Portland's planned hydrogen-ready salt cavern storage into an envisaged future hydrogen hub centred in and around Southampton by a consortium including a major energy company , whereby Portland could provide both the interseasonal and peak demand hydrogen storage necessary to provide the hub's resilience to fluctuating demand. Via its planned LNG receiving facility, Portland could also help satisfy demand for natural gas feedstock for reforming into blue hydrogen within the hub. [hmm - wonder what major energy co in Fawley, I mean Southampton, that could be?]
a preliminary economic model from Xodus, which details that the updated expected capital cost to construct the 14 salt caverns, related surface facilities and the pipeline tie-in to the current national gas grid is £895 million. Together with the capital expenditure for the envisaged LNG receiving terminal and the project's green hydrogen generation capability, the project's total cost will, therefore, likely exceed £1 billion....[market cap =£18m]
the Company's focus for the forthcoming 6-9 months will be firmly upon the delivery of Phase 2 seismic and a new Basur appraisal well...
to shoot new unbudgeted Phase 2 seismic before continuing the Basur appraisal drilling programme (as per UKOG's 30th June RNS), combined with a longer than expected seismic acquisition period over winter, has both required additional previously unbudgeted working capital and deferred the start of the anticipated cash flow from a successful Basur well. The Company will, therefore, need to seek further finance before mid Q4 2022 to fund this planned programme and for general working capital purposes. ...
With respect to the June 7th 2022 grant of planning consent for the Company's 100% owned Loxley gas appraisal project the Company will now implement a pre-planned farmout programme, whereby the Company's costs would be either fully or part carried by any farminee.
Today 07:00 San Leon Energy PLC (SLE)
Execution of New ELI Investments documentation
https://www.investegate.co.uk/san-leon- ... 00060435T/
further to the Company's AIM Admission Document published on 8 July 2022 (the "Admission Document"), the documents in respect of the New ELI Investment have now been signed by the relevant parties [up 7%]
Today 07:00 Diversified Energy (DEC)
Notification of Major Holdings
https://www.investegate.co.uk/diversifi ... 00080271T/
On 18-Jul-2022, BlackRock, Inc. reduced from 5.21% to 5.18%.
Today 07:00 Arrow Exploration (AXL)
AGM Voting Results
https://www.investegate.co.uk/arrow-exp ... 00080948T/
All approved
Yesterday 18:00 Harbour Energy PLC (HBR)
Transaction in Own Shares
https://www.investegate.co.uk/harbour-e ... 00040352T/
Harbour announces that it has purchased the following number of its ordinary shares of 0.002 pence each for cancellation.
Yesterday 17:22 BP PLC (BP.)
Transaction in Own Shares
https://www.investegate.co.uk/bp-plc--b ... 22450344T/
They bought back 9,059,925 shares at 385.227p = £34,901,286.84
Yesterday 14:58 WOOD GROUP (JOHN) PLC (WG.)
Holding(s) in Company
https://www.investegate.co.uk/wood-grou ... 5800P0121/
On 18-Jul-2022, APG Asset Management N.V. (Amsterdam Netherlands) reduced from 3.9688% to 2.97034%
Yesterday 12:00 Savannah Energy Plc (SAVE)
Holding(s) in Company
https://www.investegate.co.uk/savannah- ... 00049907S/
On 18/07/2022, Pendal Group Limited (Sydney , Australia) holding via J O Hambro Capital Management Limited increased from less than 5% to 5.036137%.