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Stockbroker SP Angel highlighted several near-term valuation catalysts for Union Jack Oil. Union Jack Oil PLC (LON:UJO) presents a compelling value opportunity, according to stockbroker SP Angel, which repeated a ‘strong buy’ recommendation. With a target price of 176p the stockbroker see some 400% upside to the current price of 34.37p. Commenting on Monday’s financial results statement SP Angel analyst Sam Wahab highlighted that the company is well-funded and debt free. “Bucking the trend of its E&P peer group, 2020 was a year of considerable operational progression for Union Jack,” the analyst said. “The company successfully advanced its key projects, executing drilling, development and appraisal activity, notably at its flagship West Newton field.” ....
WTI Oil US$64.3/bbl vs US$65.3/bbl yesterday Natural Gas US$2.91/mmbtu vs US$2.93/mmbtu yesterday
Oil Price News Money managers continue to take a bullish stance in oil futures and options contracts, estimating that oil prices will increase later this year as economies reopen and travel and fuel demand rise In the week to 4 May, hedge funds bought the equivalent of 40MMbbls in both Brent and WTI according to Reuters This was the fourth week in a row in which portfolio managers have added long positions in oil futures In the week to 27 April, hedge funds added the equivalent of 30MMbbls in the six most important petroleum futures and options contracts ....
Market Update: Tuesday 4 May 2021 Helium One (AIM:HE1): Completion of extended 2D seismic campaign SDX Energy (AIM:SDX): SDX commences active drilling. ....
Mosman Oil & Gas tipped as a ‘buy’ ahead of aggressive drill progamme and production-led growth Chairman John Barr described the company’s first half as “extremely challenging” but broker SP Angel is confident the company will fare better in the rest of 2021. Mosman Oil & Gas Plc (LON:MSMN) is set for a very different second half of 2021 thanks to its production-led growth strategy, that’s according to stockbroker SP Angel. AIM-quoted Mosman on Wednesday released its first half results statement for 2020 and told investors it had begun the third quarter with “renewed vigour”. The company said that it is to focus on drilling activity and its position is boosted by its increased interest in the Greater Stanley project. It reported gross production of 34,569 barrels of oil from its operations over the first half, which works out as 9,871 barrels net to Mosman. ....