Daily Brief Energy/Materials: Paladin Energy, China Oilfield Services H, Valeura Energy Inc and more

• Paladin and Fission uranium corp are in the process of trying to lock in a script merger
• The date of the Paladin Fission scheme vote has been extended to September 9
• Two thirds of votes cast in favor are needed for the merger to proceed

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• Business continues to grow as sales, profits and margins rise
• The overall industry supply demand dynamics continue to be supportive
• Key business drivers such as capacity utilisation and rates moving in the right direction

• Net production at Nong Yao has reached a stable level of ~12.1 mbbl/d. This compares with 6.3 mbbl/d in 2Q24.
• This production, when combined with the Wassana field being back online, has resulted in stable aggregate WI oil production over the past week of 26.2 mbbl/d.
• We are assuming only 20.4 mbbl/d for 3Q24, which might be too conservative.