We are on the road next week and showcasing some fantastic growth stocks in Manchester and Dublin.
It all kicks off in Manchester on Tuesday June 17, where Falcon ((LON:FOG, ESM:FAC, CVE:FO.), Fastnet (LON:FAST) and Independent Resources (LON:IRG) will be presenting. To register please go HERE..
The following day, in Dublin, will be Falcon once again but joined by Ariana (LON:AAU). To register for this event please click HERE.
It's a highly exciting time for Fastnet in the wake of a disappointing – but not wholly unsuccessful – result from the FA-1 exploration well, offshore Morocco, analysts reckon Fastnet Oil & Gas shares are “oversold” and at current levels represent a “compelling entry” for investors.
Indeed, the continued analysis of the FA-1 findings point to positives for follow on exploration in the Foum Assaka block and the AIM quoted explorer is still ‘carried’ up to US$100mln on one more offshore well offshore.
Onshore, meanwhile, the company continues to work toward drill prospects within the Tendrara area, and more news is expected here in the coming weeks.
Elsewhere, farm-out talks for Fastnet’s Irish assets have picked up again following the completion of seismic and a successful recent industry conference. Management is now confident that a deal can be struck before the end of the year.
Broker Cantor Fitzgerald has a price target of 19p and updating on how the company will moved forward is Cathal Friel, Fastnet's chief executive.
Falcon Oil & Gas recently pulled off a huge coup by securing a farm-out deal for its massive acreage at the Beetaloo basin in Australia, a potentially world-class conventional and unconventional oil and gas play.
Brokers had already suggested Betaloo was one of the largest basins in Australia, and this view was seemingly confirmed by the quality of the farm-in partners.
Local operator Origin Energy and South African gas-to-liquids specialist Sasol are taking a 70% stake in the licences for what is effectively a US$200mln programme of drilling and exploration.
Falcon received US$20mln upfront and will be carried for the five-year programme.
Meanwhile, in Hungary, Falcon has just spudded the Besa-D-1 exploration well in the Mako Trough. It is the second of three wells in a programme alongside Naftna Industrija Srbije (NIS), a unit of Gazprom.
Joining us at will be Philip O'Quigley, CEO at Falcon
Tunisia is the focus for Independent Resources, which is in the process of upgrading its 19% stake in the hugely prospective Ksar Hadada permit to 86%.
The potential of the block is be huge. It is estimated to be host to around 108mln barrels of recoverable oil worth between $263mln and $837mln. Before work starts on tapping this hydrocarbon bounty there is the small matter of the City fundraiser that is currently underway and which will help fund the acquisition of 3D seismic data. Such a large stake in the project opens the door to a farm-out deal, with a larger firm with deeper pockets helping foot the bill for development. Giving his thoughts on this and outlook for Tunisia will be Chief executive, Greg Coleman.
Ariana Resources’ Red Rabbit project in Turkey is one of the most keenly followed junior gold projects around.
In April, the company announced its partner Proccea had signed a conditional agreement for the funds required to build a mine at the Kiziltepe target, with the most recent update indicating that negotiations for the final tranche of US$25mln were well advanced.
An extension to the licence has now been awarded for five years from last month with the automatic granting of a further 15 years if mining begins.
Initial production is slated to be 21,000 ounces a year of gold equivalent and a life of mine of eight years, though recent exploration has confirmed the potential to add significantly to the resources at Red Rabbit.
To bring us bang up to date will be Michael De Villiers, chairman of the company.