External broker reports(aggregated public sources), Topline Securities

Topline Securities

External broker reports(aggregated public sources)

Topline Securities is one of the fastest growing brokerage houses in Pakistan. It has strong equity brokerage, economic / equity research, mutual fund distribution, commodity trading and corporate finance & advisory functions. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Hub Power Company (HUBC) held its corporate briefing today to discuss 1HFY26 financial result and future outlook.</li><li>The company’s two Thar-based plants, Thar Energy Limited (TEL) and ThalNova, have declared dividends. HUBC has received Rs4.9bn from ThalNova in 2QFY26 and Rs 0.7bn from TEL. Management highlighted that the major dividend from TEL will be recorded in 3QFY26.</li><li>Overdue receivables currently stand at Rs68bn for CPHGC, Rs8bn for TEL, Rs7bn for ThalNova, Rs6bn for Laraib, and Rs1.4bn for Narowal.</li></ul>

Hub Power Company (HUBC) held its corporate briefing today to discuss 1HFY26 financial result and future outlook.The company’s two Thar-based plants, Thar Energy Limited (TEL) and ThalNova, have declared dividends. HUBC has received Rs4.9bn from ThalNova in 2QFY26 and Rs 0.7bn from TEL. Management highlighted that the major dividend from TEL will be recorded in 3QFY26.Overdue receivables currently stand at Rs68bn for CPHGC, Rs8bn for TEL, Rs7bn for ThalNova, Rs6bn for Laraib, and Rs1.4bn for Narowal.

Topline Flash Note: Hub Power Company (HUBC): Corporate Briefing Key Takeaways

Equity Capital Markets and Advisory Business, Auctus Advisors

Auctus Advisors

Equity Capital Markets and Advisory Business

Auctus Advisors is a specialist Equity Capital Markets and Advisory business with a focus in the Energy Sector. The partners have complementary skill sets, with decades of experience across Equity Capital Markets, Investment Banking and the Energy industry. We have worked at Société Générale, Canaccord Capital, BMO Capital Markets and Schlumberger. Most recently we have worked together for many years at GMP FirstEnergy. Auctus has been set up at the beginning of a new decade in which we see significant opportunities in the Energy space. Globally, demand for energy is at record levels and continues to grow. Conversely, investment in traditional energy sources has been severely constrained. We believe this imbalance creates opportunities for both companies and investors. Auctus provides Corporate Broking, Equity Research and Investment Banking services.

<ul>
<li>The CN-3 well encountered 67 feet of oil pay in two Ubaque zones plus 23 feet of oil pay in the C7 and 59 feet in the Lower Gacheta formations.</li>
<li>The oil pay encountered in the Ubaque at CN-3 is thicker than at CN-2 (~60 feet). The characteristics of the reservoir are very good and similar to those encountered in the CN-1 and CN-2 wells.</li>
<li>The Lower Ubaque zone was initially tested at 593 bbl/d of oil with a 30% water cut. The water cut subsequently increased and the test was terminated. </li>
</ul>


The CN-3 well encountered 67 feet of oil pay in two Ubaque zones plus 23 feet of oil pay in the C7 and 59 feet in the Lower Gacheta formations.
The oil pay encountered in the Ubaque at CN-3 is thicker than at CN-2 (~60 feet). The characteristics of the reservoir are very good and similar to those encountered in the CN-1 and CN-2 wells.
The Lower Ubaque zone was initially tested at 593 bbl/d of oil with a 30% water cut. The water cut subsequently increased and the test was terminated. 


Arrow Exploration Corp -  CN-3 Encounters Thick Oil Pay but Flow Test Hampered by Poor Cement Job

United States

Arrow Financial Corporation is a multi-bank holding company for Glens Falls National Bank and Trust Company and Saratoga National Bank and Trust Company. The Banks offer a variety of commercial and consumer financial products through offices located in upstate New York.

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Arrow Financial (AROW US)

Topline Flash Note: Hub Power Company (HUBC): Corporate Briefing Key Takeaways

Hub Power Company (HUBC) held its corporate briefing today to discuss 1HFY26 financial result and future outlook. The company’s two Thar-based...

Topline Securities

Arrow Exploration Corp - CN-3 Encounters Thick Oil Pay but Flow Test Hampered by Poor Cement Job

The CN-3 well encountered 67 feet of oil pay in two Ubaque zones plus 23 feet of oil pay in the C7 and 59 feet in the Lower Gacheta formations.

Auctus Advisors

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