Proactive - Interviews for investors

Europa Oil & Gas (Holdings) PLC (AIM:EOG) chief executive William Holland speaks to Thomas Warner from Proactive London after the exploration and production company released a production update from its 30% owned PEDL180/182 licence at the Wressle oil field in Lincolnshire.

Holland starts by detailing the journey from introducing a jet pump in November, which technically enabled a production potential of over 1,000 barrels a day, to achieving a stable production rate of 550 barrels daily. This stability, however, was initially constrained by the surface pump's operation and water handling capacity.

Addressing the challenges of water production, a common occurrence in oil wells, Holland explained the necessity of the jet pump. It was installed to manage the increased hydrostatic pressure caused by water, thereby maintaining oil flow. Despite the pump's effectiveness in boosting oil production, limitations arose due to the lack of adequate facilities for water disposal.

A breakthrough came with the Environment Agency's permit, received on December 14th, allowing for proper water disposal. This development has enabled Europa Oil & Gas to gradually increase production rates, currently around 680 barrels per day, with an emphasis on cautious reservoir management and optimisation.

Holland emphasises the importance of balancing water handling, avoiding additional water production, and adhering to gas flaring limits. The company aims to increase production further, with careful consideration of reservoir health and maximising recovery rates.

The CEO also touched on Europa Oil & Gas’s other ventures, particularly the Cloughton project. He hinted at potential announcements regarding new drilling locations in collaboration with the Duchy of Lancaster.

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Libertine Holdings PLC (AIM:LIB) chief executive Sam Cockerill speaks to Thomas Warner from Proactive after the linear generator technology developer released its interim results for the six months to 30 September.

Cockerill highlights key achievements in the past six months, Cockerill mentions the successful completion of work with Hyliion on the KARNO powertrain using Libertine's HEXAGEN platform. He also notes ongoing collaborations with Ashok Leyland for heavy-duty hybrid powertrain applications. These projects have significantly shaped the company's technology roadmap, focusing on performance and durability improvements for future partnerships set to commence in 2024.

Cockerill emphasises the importance of customer insights in guiding Libertine's investments and product development, particularly in aligning their linear generators' performance with the durability, efficiency, and control requirements of upcoming development programs.

Addressing shareholder concerns, Cockerill reassured that despite financial constraints, Libertine is in its strongest position regarding technological performance. The first half of the year's investments have convincingly demonstrated their technology's potential to major OEMs, particularly in distributed power generation and transport applications.

For 2024, Libertine aims to translate its technical developments into commercial sales and revenue, focusing on ongoing discussions with OEMs and research organisations interested in their platform technology for combustion research applications. Cockerill expresses optimism about these partnerships driving sales and fostering technological advancements.

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Good morning from London, where the FTSE 100 is up around a quarter of a percent so far, with the typically volatile Ocado the biggest gainer so far.

The luxury grocer’s share price bounces around more than most, but has been generally trending higher since October – could it be a sign that the worst of the country’s cost of living crisis is over?

Well if things are looking easier nobody’s told fashion brand Superdry – their share price is down 20% so far on news that its likely to come in well below guidance after a miserable autumn. They’re blaming the mild and wet weather for delaying on the onset of the autumn clothe-buying season and Shore Capital’s Clive Black says the profit warning “adds a little tension into the air ahead of the forthcoming New Year trading updates from other clothing players.”

And there’s no shortage of tension for London’s big energy players today either, BP is the latest to say its halting oil and gas shipments through the Red Sea – probably a good move since several of the world’s major navies are actively engaged in hostilities there.

That’s all for now but stay tuned for interviews throughout the day with some of the biggest names in the small caps – have a great day.

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Challenger Energy Group PLC (AIM:CEG, OTC:BSHPF) CEO Eytan Uliel speaks to Proactive's Thomas Warner about how the Caribbean and Americas-focused oil and gas company performed during 2023.

He says that despite missing his self-imposed deadline to finalise a farm-in agreement in Uruguay by the end of 2023, Ulliel remains optimistic about completing it in early 2024. He attributes the delay to the need for clarity on other players in Uruguay and their work programs, crucial for the 3D seismic acquisition partnership.

Ulliel reflected on 2023 as a pivotal year for Uruguay's burgeoning oil and gas sector, with the country in the process of transforming into a global exploration hotspot. This shift has heightened industry focus on the South American continental margin, especially with recent licensing rounds in neighbouring Brazil and Argentina. Challenger Energy, holding two significant licenses in Uruguay, is poised to advance upon finalising its partnership.

Additionally, Ulliel reviewed the performance of himself and the management team, saying that although he'll be "in the dogbox" until he delivers the farm-in agreement in Uruguay, the business did deliver on its their objectives for the year. He points to successful efforts to streamline operations, exiting its license in Suriname and selling non-core assets in Trinidad.

The interview concluded with Uliel's commitment to delivering the much-anticipated farm-out in Uruguay, acknowledging shareholder patience and hinting at future success in 2024.

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Proactive research analyst Manos Halicioglu speaks to Thomas Warner from Proactive after publishing a research note on North Slope of Alaska-focused oil & gas company Pantheon Resources, which has 100% working interest in 153,000 highly prospective acres with potential for multi billion barrels of oil recoverable.

Halicioglu says Pantheon Resources has been making headlines with its Kodiak and Ahpun oil projects, covering an impressive 160,000 acres and boasting an estimated 1.481 billion barrels of recoverable oil. The company's 100% working interest and commitment to sustainable development are key factors in their strategic growth trajectory. They aim for a market value of $5-10 per barrel by 2028, supported by a substantial $25 billion phased investment.

Halicioglu notes an anticipated 337% return, translating to an impressive annual rate of around 34% in the competitive oil and gas sector. Pantheon's consistent revenue growth and robust asset base, coupled with strategic investments and financial acumen, position them strongly in the $5.3 trillion global oil and gas exploration and production market.

However, risks such as liquidity challenges and broader market dynamics like regulatory changes and global economic factors were also discussed. Despite these concerns, Halicioglu says Pantheon's solid financial performance and market position somewhat mitigate these risks.

Key to Halicioglu's valuation is the absolute valuation approach, considering intrinsic value for long-term investment analysis. This method offers a comprehensive view of Pantheon's worth, considering its assets, market position, and growth prospects, providing a clear picture for potential investors. For more details, Halicioglu's full report is accessible via a link provided in the interview.

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Redx Pharma PLC (AIM:REDX) CEO Lisa Anson speaks to Thomas Warner from Proactive after the clinical-stage biotechnology company released its final audited results for the year to 30 September.

Anson discusses the company's performance in 2023 and outlined its plans for 2024. She highlights the successful launch of a Phase 2 program for lead asset Zelasudil, aimed at treating idiopathic pulmonary fibrosis, a challenging lung condition.

Additionally, Anson touches upon another promising asset targeting the same mechanism, which is poised to enter clinical trials next year following extensive preclinical work.

On the financial front, despite a challenging year, Redx Pharma successfully raised £14.1 million, ensuring funding through September 2024. This financial stability is crucial for achieving key milestones, which Anson believes will be pivotal for the company's growth.

Looking ahead to 2024, Anson anticipates significant developments, including the release of Phase 2 data in idiopathic pulmonary fibrosis and resolving FDA regulatory issues in the first half of the year. Moreover, the company aims to initiate a Phase 1 study for its RXC008 (ROCK) asset, which would ne the sixth time Redx Pharma has brought a drug into clinical trials.

In addition to these advances, Redx Pharma is also focusing on kidney fibrosis and oncology programs, with plans to progress these into clinical stages by 2026. Anson also emphasises the potential for new partnerships, particularly in advancing their oncology program for GI cancers, highlighting Redx Pharma's strategic approach to collaboration and development.

This interview underlines Redx Pharma's significant strides in 2023 and sets a promising outlook for 2024, positioning the company as a key player in the pharmaceutical industry.

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Kodal Minerals PLC (AIM:KOD) CEO Bernard Aylward speaks to Thomas Warner from Proactive at the end of a year he describes as "fantastic" for the company and its effort to develop the Bougouni Lithium Project in southern Mali.

He says a transformative joint venture with Hainan Mining has fully funded the development of Bougouni, prompting the start of its construction. Kodal also grew its resource base by over 40% due to successful drilling programs, with more exploration work still to come in.

He touches on negotiations with Hainan Mining, which were initially expected to be swift but encountered bureaucratic delays. However, with regulatory approvals and restructuring, the deal was finalised in November.

Aylward remains optimistic about starting production by late 2024, transitioning Kodal from an explorer to a lithium producer. He stresses the company's consistent communication and strong relationship with shareholders, emphasising the year's transformational impact.

Aylward concludes by expressing gratitude for the support since 2016 and anticipated further developments, extending holiday wishes to the interviewer and viewers.

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Botala Energy Ltd CEO Kris Martinick sat down with Proactive's Elisha Newell to emphasise the importance of community engagement.

Botala Energy, known for its significant stakeholder management, conducts quarterly stakeholder planning and comprehensive environmental impact assessments which involve direct interactions with local communities.

Spending months in local villages, the Botala team has built strong relationships with local chiefs, elders and residents, focusing on understanding their concerns and needs, particularly around jobs, life security and food. Botala Energy's commitment extends beyond business operations to social responsibility. Martinick highlighted their close relationship with the SOS Orphanage in Sahrawi, one of three orphanages the company supports. Botala's directors and executives actively participate in this effort, personally delivering clothes and toys to the orphanage.

This initiative is part of a broader effort to collect donations, including a 20-foot container in Perth filled with contributions from the Mosman Park Men's Shed and others. These efforts address the needs of children affected by domestic violence, family deaths and human trafficking. Martinick reflects on Botala Energy's dedication to walking the talk in community engagement and social responsibility. As the holiday season approaches, he encourages the community to support these causes.

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Kali Metals Ltd MD Graeme Sloan speaks with Proactive ahead of the company’s listing on the ASX which is expected on January 5, 2024. Kali has a portfolio of assets which he says represents one of the largest and most prospective exploration packages across Australia’s world leading hard-rock lithium fields. Its exploration tenure is located near existing, emerging and unexplored lithium and critical minerals regions in WA, including the Pilbara and Eastern Yilgarn, as well as in the prolific Lachlan Fold Belt in NSW and Victoria.

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Novo Resources Corp (TSX:NVO, OTCQX:NSRPF, ASX:NVO) acting CEO Mike Spreadborough tells Proactive the company has entered a joint venture agreement with SQM Australia, the local subsidiary of global lithium producer Sociedad Química y Minera de Chile S.A., forming the Harding Battery Metals Joint Venture. As part of the agreement, Novo will sell a 75% interest in five of its prospective lithium and nickel exploration tenements in the West Pilbara to SQM for A$10 million. The agreement will further boost Novo’s cash reserves to continue its primary gold focus — as it works to define deposits with more than 1-million ounce development potential — while delivering shareholders potential upside exposure to battery metals exploration.

#ProactiveInvestors #NovoResourcesCorp #ASX #TSX #BatteryMetals #Gold

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