In today’s briefing:
- Adaro Energy (ADRO IJ) – The Sustainable Leap
- EDG: First 2024 Drill Results: All Holes Intercept High-Grade
- ADX Energy (ASX: ADX): Production Boost at Anshof in October
Adaro Energy (ADRO IJ) – The Sustainable Leap
- Adaro Energy (ADRO IJ) has announced that it intends to spin off its thermal coal related assets under Adaro Andalan Indonesia, allowing it to focus purely on its sustainable businesses.
- The move will potentially allow it to realise a higher valuation for its pure coal assets while paving the way for access to sustainable financing for its renewable businesses.
- This will help the group accelerate the progress towards having more than 50% of its revenues from non-coal businesses by 2023. Adaro Energy (ADRO IJ) can trade at higher multiples.
EDG: First 2024 Drill Results: All Holes Intercept High-Grade
- EDG announced assay results for its first six drill holes as part of its 10,000m 2024 drill program, it has completed 11 holes (3,500m) to date.
- Today’s results confirm high-grade at-depth (~175m vertical) and extends the Imperial Zone ~100m to the northwest along strike (still open).
- Assays for the next five drill holes are expected to be released in mid-October.
ADX Energy (ASX: ADX): Production Boost at Anshof in October
- The ANS-2A sidetrack well has encountered a 6.5 m net vertical oil column in high quality Eocene-aged sandstone reservoir.
- The reservoir quality encountered at ANS-2A is consistent with ANS-2 (porosity and permeability ~20% higher than at ANS-3).
- The oil-water contact was encountered very close to the top of the water wet reservoir encountered at ANS-2.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
