Next Thursday, August 21, we return after the summer hiatus with four promising hydrocarbon companies at our exclusive event in Mayfair.
Please ensure you don't miss out by booking your place HERE.
Falcon Oil & Gas (LON:FOG) 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 Sasolare 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. News that exploration in South Africa's shale assets will commence as soon as possible will also highlight the potential of Falcon’s 7.5mln acres of the Karoo shale basin. With recent drilling in Hungary also encountering gas, Philip O'Quigley, chief executive at Falcon, will have lots of good news to talk about.
Shares in San Leon Energy (LON:SLE) have soared almost 30% after it struck a joint venture agreement in Poland that sees the oil and gas junior receive US$20mln in upfront payments. The future of shale gas in Poland is attracting a lot of attention with other operators in the region announcing the results of their multi-fracked horizontal wells imminently. Poland remains the core focus for San Leon as a broader acceptance of shale gas in the EU means the country is set to be a significant part of the future of Europe's unconventional gas industry. Poland is also part of San Leon’s transition from explorer to producer but exploration interest is still significant, especially the spudding of the Sidi Moussa well, offshore Morocco that it is targeting 300mln barrels of oil and where the AIM-listed group has an 8.5% carried interest. Joining us is Executive Chairman, Oisin Fanning.
Azonto is emerging from a difficult 12-18 months in which it has renegotiated its agreement with the Cote D'Ivoire government, extracted itself from an extraneous rig contract, and taken on a new joint venture partner in Vitol. Cote D’Ivoire’s GDP is growing by 10% annually and it is increasingly looking for domestic energy supplies, so demand seemingly won’t be a problem. Azonto is also receiving new interest in its offshore Ghana block after last year’s disappointing well result. It was granted a six month extension to its exploration period during which it has been working closely with partner Afex Oil (Ghana) to bring someone else in. Chief executive Rob Shepherd has faith in the region and says the prospects the company has mapped are large enough to have pricked the ears of some “very large companies”. We look forward to hearing from Rob as he takes us through the latest developments.
Andes Energia’s (LON:AEN) share price has more than doubled in the past 12 months and there’s a buzz among brokers about the potential upside still to come. Revenues rose four-fold last year as output from its conventional oil assets in Argentina jumped ahead, but it is Andes Energia’s non-conventional assets in the country that are seen as the game changer. They sit in Vaca Muerta in the Neuquen basin, an area globally recognised as a world class shale play and where ExxonMobil recently make its first discovery. That was in a block lying to the south east of Andes’ acreage, while a Canadian firm has also hit oil to the east of another of its licences. Argentina’s financial issues are well known but are slowly being resolved and as they do, interest in Andes, the only AIM-listed company in London with exposure to Vaca Muerta, seems set to grow further. Joining us to explain the full potential is Alejandro Jotayan, Andes’ chief executive.
Please join us at 5:45pm to allow for a prompt 6pm start. Each company has approximately 30 minutes to give a short presentation and for Q&A. This will be followed by the 'Champagne Raffle' where six guests will win a bottle each.
The evening will end with a complimentary bar and an assortment of hot and cold canapes, giving you the opportunity to speak with the directors and other investors.