Senex Energy Ltd (ASX: SXY)

SXY Details

Winning Surat Basin acreage tender:Senex Energy Ltd witnessed a share price surge of 24% on September 06, 2017 while the group bagged the tender for Surat Basin acreage (a 58-square kilometre) for domestic gas supply by the Queensland government. SXY expects to target first gas for 2019. Further, the group has provided its latest drilling report for August 2017, and is almost half way through its Phase 2 drilling program of 30 appraisal wells for the Western Surat Gas Project in Qld, and has drilled an oil appraisal well in the Cooper Basin during August 2017. SXY also reported that 14 wells have been drilled with the 15^th well spudded in early September 2017. For Western Surat Gas Project, seven wells were drilled within the Eos and Glenora blocks with all wells cased and suspended as future coal seam gas producers. SXY also expects to move the rig to a drilling location in the south-western Cooper Basin during September. Given the above, there is a speculation that the group might be considered as a takeover target in the future. Given the appealing prospects with support from latest developments, we give a “Buy” on the stock at the current price of $ 0.33

Catapult Group International Ltd (ASX: CAT)

CAT Details

Weakening market sentiments:Catapult Group International Ltd.’s (ASX: CAT) stock plunged over 9.7% on September 06, 2017 owing to weakening market sentiments. Particularly, the group has come under pressure owing to operating expenses which have been up 108% in FY17 and continued loss after income tax. Otherwise, the group had reported for a robust elite wearable revenue growth of 52% for FY17. Further, integration of XOS Technologies led to pro-forma revenue growth of 10.4% in FY17. The group has been working on its product enhancements with the launch of PLAYERTEK by Catapult and a next-gen Openfield platform with new advanced algorithms for elite sports. It is also noted that CAT’s director, Mr Kar Wing has increased respective stake by acquiring 100,000 fully paid ordinary shares. Though the company has a good pipeline of products, but it might be prudent to wait for an improvement in the financial performance. We give a “Hold” at the current price of $ 1.44


Results (Source: Company Reports)

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