In today’s briefing:
- RPPL: On Track for a Strong FY25
- Zephyr Energy Plc (AIM: ZPHR): Potential for helium well to be drilled mid 2024
- Pharos Energy Plc (LSE: PHAR): Re-Iterating Guidance
RPPL: On Track for a Strong FY25
- Rajshree Polypack (“RPPL”) reported a robust Q3FY24 led by strong volume growth of 29%+ YoY. EBITDA margin also expanded leading to EBITDA growth of 35%+ YoY.
- Export business continues to grow steadily with quarterly run-rate now at INR 10cr. This suggests that on an annualized basis, exports could be INR 40cr vs INR 30cr guided earlier.
- Injection molding business is doing well and has reached optimum capacity utilization. RPPL is exploring to expand this capacity and is also expecting it to become profitable from next quarter.
Zephyr Energy Plc (AIM: ZPHR): Potential for helium well to be drilled mid 2024
- In October 2023, Zephyr announced the acquisition of at least a 75% WI in the Salt Wash field, located ~3 miles to the south of the Paradox project.
- Salt Wash has a 15 feet oil rim, above which is an inert gas cap (~500 feet of gas column) which consists of ~72% nitrogen, 22% hydrocarbon gases, and 1.4% to 1.7% helium content.
- The field was abandoned in 2014 after having produced 1.65 mmbbl of oil and 11.7 bcf of natural gas.
Pharos Energy Plc (LSE: PHAR): Re-Iterating Guidance
- FY23 production and YE23 net debt had already been reported.
- Pharos has re-iterated its FY24 guidance of 5.2-6.5 mboe/d (3.9-5.0 mboe/d in Vietnam plus 1.3-1.5 mbbl/d in Egypt) with net capex of US$27.1 mm.
- In 2H24, Pharos plans to commence a two well drilling programme at TGT (Vietnam) and to start the development of NBS SW (Egypt).
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