{"id":100747,"title":"Share Talk Weekly Energy Sector News Round-Up, Monday 29th August 2022","publisher":"Share Talk","author":"sharetalk","published":"2022-08-29T19:29:34+00:00","modified":"2022-08-29T19:43:48+00:00","canonical_url":"https://www.share-talk.com/share-talk-weekly-energy-sector-news-round-up-monday-29th-august-2022/","markdown_url":"https://www.share-talk.com/share-talk-weekly-energy-sector-news-round-up-monday-29th-august-2022.md","json_url":"https://www.share-talk.com/share-talk-weekly-energy-sector-news-round-up-monday-29th-august-2022.json","category":"Blogs","categories":["Blogs","Energy","Weekly Energy Sector"],"tags":["ANGS","ARG","AXL","BOR","ECO","EDR","EOG","I3E","IGAS","PANR","rkh","SYN","UJO"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/11/Stencil-Google-Chrome-2023-04-19-at-2.47.43-PM.jpeg?fit=1231%2C615&quality=89&ssl=1","format":"news","language":"en-GB","content":"Pick a stock, l can think of multiples that are loaded and ready to go, pick one, we have RKH, EDR, PANR, ANGS, SYN, ARG, BOR, IGAS, UJO, I3E, AXL, EOG then we have ECO drilling next month, these are just what l can recollect off the top of my head.\n\n[Author @ABMckinley](https://twitter.com/ABMckinley)\n\nYou don’t have to be right even 5 times out of 10, if the times you’re right you make a double or triple, it offsets all the times you lose 20% or 30%, you have to know what you own: [Peter Lynch](https://twitter.com/Share_Talk/status/1564179860310065153?s=20)\n\nInvestors believe that the authorities will turn to British producers to cover the shortfall. Well-bought onshore developers** IGas Energy PLC,** with a** 13.41%** [ rise over the week](https://www.share-talk.com/i3-energy-plc-aimi3e-q2-2022-operational-and-financial-update/) and **Egdon Resources PLC 36.47% **respectively.\n\nIt seems that Igas has a strong fan base, with the stock rising **146.43%** in the past month due to hedge fund interest.\n\n**Union Jack Oil PLC** was up 11.50% during the week and has risen **33.33%** over the past month.\n\nUJO owns a 40% stake in the[ Wressle offshore oil project in Lincolnshire](https://www.share-talk.com/union-jack-oil-plc-aimujo-us9m-net-revenues-landmark-reached-at-wressle/). This has been the driving force behind this movement.\n\nNow take into account **Union Jack’s Oil** Final hearing for the Court to consider the Capital Reduction has been scheduled for tomorrow, with cash balances and short-term receivables standing at over £9,460,000  “Debt free” onshore – hydrocarbon production, dividend payments about to be approved, company share buyback, fully funded for the next 12 months. \n\nWhat is not to like, with the current SP sitting at 32.00p.\n\nInvestors in **Rockhopper Exploration PLC** had a great week, [shares jumped 90% to 16p](https://www.share-talk.com/rockhopper-rockets-after-positive-arbitration-outcome/) after the positive arbitration result with the Republic of Italy. After a successful claim against Italy, the £160mln compensation was awarded to the rocket fuel that powered the oiler. Now look across to the other Falklands Play **Borders & Southern Petroleum **share price this week, +72.15% in the past week.\n\n**Angus Energy** finally delivered the news holders had been waiting for, with the company’s site operations team, with supporting specialists, having introduced and processed wellhead gas throughout the combined extraction and condensate processing facility at the [Saltfleetby](https://www.share-talk.com/angus-energy-plc-aimangs-commissioning-update-at-saltfleetby/).\n\nThat propelled the share price to gain** 52.70%** this week, with a second well still to come online.\n\nAll eyes will be on ANGS this week as sentiment, and momentum has taken hold and with the correct share price sitting around 1.91p, what is not to like, this can push past 2p onwards without any help.\n\n**Synergia Energy Ltd** **(SYN)** (formerly named Oilex Ltd) is totally unloved right now, as we all know this can change at a drop of a hat. With a workover rig is being mobilised in early September to re-install the 2 3/8″ production tubing which is anticipated to accelerate the frac fluid flow back.\n\nOnce the production tubing is re-installed and the frac fluid flowback completed, the well will be re-tested to determine the full potential of the two newly fracced zones by flaring the gas under a new short-term flaring permit.\n\nThe share price sits at 0.15p, the Company plans to **initiate a formal farm-out process for up to 50%** of the c.1 TCF Cambay gas and condensate field. The Cambay field is covered by a Field Development Plan approved by the Directorate General of Hydrocarbons with the current Production Sharing Contract valid through 2029\n\nAt Alkaid-2, **Pantheon Resources** reached its target depth of 8,000 feet, before branching out laterally to 5,300ft.\n\nFuture production wells will have a targeted lateral length of around 8,000ft but as this is the first, Pantheon said it had adopted a conservative approach and utilised a shorter lateral.\n\nAnalysts at Peel Hunt noted that, based on previous expectations, 8,000ft suggests a flow rate of 1,200 barrels per day (bopd), at 150 bopd per 1,000ft.\n\nBaker Hughes Advanced Hydrocarbon Stratigraphy (AHS), a respected US company, was charged with compiling a volatile service report based upon data collected after a successful appraisal well was sunk in the early part of this year.\n\nA stock l have covered/highlighted from 23p days, Pantheon’s current estimates for the entire Alaska North Slope project (which includes Talitha, Alkaid-1) are approximately 20bn barrels. Around a tenth of this amount is considered recoverable.\n\nhttps://twitter.com/Share_Talk/status/1562517865475231744?s=20\n\nAccording to **Eco (Atlantic), O&G PLC,** the drill rig needed for the new exploration offshore South Africa will arrive at its location by September end. Weather conditions permitting\n\nGazania-1 is drilling to extract 300mln barrels of light crude oil from the Orange Basin. This area is currently the most active for exploration drilling for oil or gas.\n\nAnother one for the watchlist.\n\n![](https://www.share-talk.com/wp-content/uploads/2022/07/9mKPxtjp_400x400-300x300.jpg)\n\n[Author @ABMckinley](https://twitter.com/ABMckinley)\n\nThe opinions expressed here are those of the author\n\nDisclaimer: This blog is provided for general information and It does not constitute investment advice, not buy or sell shares, warrants or bonds in any companies written about within the blog. Information is taken from publicly available sources and any comment is that of the author."}