Uranium optimism is growing with governments around the world including nuclear energy in their plans to slash carbon emissions and the US saying outright that achieving its climate goals would not be possible without nuclear plants.

Nuclear energy currently accounts for 20 per cent of US electrical generation so it is no surprise that it is currently evaluating the potential to extend the operating life of its existing plants to 100 years.

China has flagged that it will have 70 gigawatts of installed nuclear power capacity by 2025, up from the current 55GW, with further growth likely.

Uranium spot prices have edged upwards in regard to the increased optimism.

With the expected demand growth, GlobalData has forecast that uranium production could increase by 3.1 per cent to reach 51,200t this year as significant mines come back online.

The market intelligence firm also expects uranium output to grow at a compound annual growth rate of 6.2% between 2021 to 2025 to 62,200t.

Meanwhile, BMO Capital Markets has forecast a 15,000t deficit of uranium this year, or about 18 per cent of current demand, even with the restart of Cameco’s Cigar Lake mine.
 

Gas

Despite the global push towards low emissions energy – particularly renewable energy – natural gas is still expected to play a major role in Asia.

“Asia will account for 60% of global gas demand growth between 2020 and 2050,” Wood Mackenzie vice president Valery Chow said.

“By 2050, a third of all global gas is expected to be consumed in Asia, up from 22% in 2020.

“We see the greatest upside from emerging markets in South and Southeast Asia, all of which are facing declining domestic gas production. LNG demand growth is supported by the development of new regasification, pipeline, and gas-to-power infrastructure.”

The consultancy noted that with coal currently accounting for more than 50 per cent of Asia’s energy supply mix, there are significant opportunities for increased gas consumption as a means of supporting carbon reduction targets.

However, Chow notes that no single energy source would be enough to meet Asian energy demand and that gas will increasingly shift to providing peak load as renewables and battery storage become increasingly dominant.

Woodmac added that while carbon-neutral LNG represented a small part of the global LNG demand, demand for the product is high with volumes increasing from 8 to 14 cargoes in the last six months alone.

Here’s how a basket of ASX stocks with exposure to oil, gas, uranium and coal are performing>>>

Scroll or swipe to reveal table. Click headings to sort. Best viewed on a laptop:

CODE COMPANY Price 1 MONTH RETURN % 6 MONTH RETURN % 1 YEAR RETURN % 1 WEEK RETURN % MARKET CAP
DOR Doriemus PLC 0.15 131 317 614 100 $ 8,987,384.38
ZEU Zeus Resources Ltd 0.058 93 205 625 100 $ 6,125,100.00
AGE Alligator Energy 0.048 140 380 700 37 $ 106,563,568.46
NWE Norwest Energy NL 0.01 25 150 233 25 $ 50,734,434.10
NHC New Hope Corporation 1.835 56 25 23 23 $ 1,469,110,249.73
MRM MMAOffShor 0.3975 26 14 -17 20 $ 143,731,294.40
EME Energy Metals Ltd 0.21 5 24 83 20 $ 44,033,495.52
EPM Eclipse Metals 0.024 20 100 182 20 $ 45,934,964.76
ERA Energy Resources 0.275 31 72 72 20 $ 1,107,414,959.40
WHC Whitehaven Coal 1.9475 53 23 4 17 $ 1,894,902,165.72
HZN Horizon Oil Limited 0.105 14 62 52 17 $ 158,059,572.50
WOR Worley Limited 12.24 5 -1 32 16 $ 6,442,388,569.52
NGY Nuenergy Gas Ltd 0.036 -10 200 125 16 $ 50,352,486.90
GRV Greenvale Mining Ltd 0.3075 46 167 1130 16 $ 113,953,999.54
BYE Byron Energy Ltd 0.115 -4 -26 -26 15 $ 114,432,461.22
MEL Metgasco Ltd 0.031 29 37 2 15 $ 17,039,132.14
VEN Vintage Energy 0.07 17 9 -16 15 $ 41,160,797.60
OSH Oil Search Ltd 4.235 7 13 18 14 $ 8,747,751,295.44
TOE Toro Energy Limited 0.024 -11 71 200 14 $ 79,332,832.30
KAR Karoon Energy Ltd 1.395 11 38 123 13 $ 775,104,992.20
SRJ SRJ Technologies 0.22 -19 -48 13 $ 17,759,798.40
LIO Lion Energy Limited 0.062 -18 288 226 13 $ 14,787,110.98
TSC Twenty Seven Co. Ltd 0.0045 -10 -25 -25 13 $ 10,642,758.24
STX Strike Energy Ltd 0.365 -4 35 83 12 $ 705,640,761.00
STO Santos Ltd 7.68 9 19 34 11 $ 16,122,931,157.34
EXR Elixir Energy Ltd 0.3 -25 200 711 11 $ 267,304,012.80
IEC Intra Energy Corp 0.01 11 25 150 11 $ 3,579,516.27
ATS Australis Oil & Gas 0.051 21 -16 76 11 $ 59,361,718.80
ADD Adavale Resource Ltd 0.094 38 84 488 11 $ 27,247,329.53
GLV Global Oil & Gas 0.021 24 110 127 11 $ 16,036,830.01
IVZ Invictus Energy Ltd 0.16 14 167 515 10 $ 90,391,245.12
BRU Buru Energy 0.165 10 76 57 10 $ 85,131,878.56
RNU Renascor Res Ltd 0.078 4 609 457 10 $ 142,782,085.55
VMY Vimy Resources Ltd 0.1425 6 191 256 10 $ 149,011,725.01
KKO Kinetiko Energy Ltd 0.115 -21 -30 109 10 $ 70,580,484.60
MAY Melbana Energy Ltd 0.023 21 92 229 10 $ 53,287,582.48
BOE Boss Energy Ltd 0.18 -5 114 210 9 $ 444,263,879.67
BRK Brookside Energy Ltd 0.024 -25 243 243 9 $ 73,083,741.74
SMR Stanmore Resources 0.735 8 -10 -17 9 $ 198,748,660.64
TEK Thorney Tech Ltd 0.43 9 12 73 9 $ 150,144,138.16
POW Protean Energy Ltd 0.013 -7 18 182 8 $ 7,807,355.56
CTP Central Petroleum 0.13 13 0 35 8 $ 90,511,707.63
WEC White Energy Company 0.13 30 18 63 8 $ 96,809,839.88
GAS State GAS Limited 0.53 6 2 23 8 $ 89,976,798.60
PDN Paladin Energy Ltd 0.5375 4 150 378 8 $ 1,472,659,322.20
WPL Woodside Petroleum 23.76 2 3 2 7 $ 23,019,923,476.54
SXY Senex Energy Limited 3.5 11 27 65 7 $ 639,332,988.48
MHC Manhattan Corp Ltd 0.015 0 -48 15 7 $ 24,420,459.09
DYL Deep Yellow Limited 0.9 5 89 283 7 $ 296,058,826.80
FZR Fitzroy River Corp 0.15 -6 -34 -1 7 $ 16,193,137.65
BPT Beach Energy Limited 1.37 4 -26 -20 7 $ 3,148,240,445.28
BMN Bannerman Resources 0.1925 4 238 450 7 $ 225,936,177.82
LCK Leigh Crk Energy Ltd 0.235 2 31 147 7 $ 163,889,630.53
TPD Talon Energy Ltd 0.008 -11 129 300 7 $ 48,024,316.20
CVN Carnarvon Petroleum 0.26 -7 -7 13 6 $ 406,998,778.42
HE8 Helios Energy Ltd 0.13 0 -19 55 6 $ 214,426,629.30
TDO 3D Oil Limited 0.052 -5 -28 -29 6 $ 13,789,795.34
WGO Warrego Energy Ltd 0.265 10 15 61 6 $ 273,858,639.45
YAL Yancoal Aust Ltd 2.15 3 -14 -1 5 $ 2,746,514,028.96
GEV Global Ene Ven Ltd 0.076 -17 -5 38 4 $ 34,360,984.95
SOL Soul Pattinson (W.H) 30.73 3 6 53 4 $ 7,272,829,821.60
ALD Ampol Limited 29.79 12 -3 5 4 $ 7,089,487,445.25
CXU Cauldron Energy Ltd 0.04 -5 14 60 3 $ 18,695,979.99
BKY Berkeley Energia Ltd 0.595 -3 8 102 2 $ 152,799,321.00
VEA Viva Energy Group 2.045 4 6 16 1 $ 3,311,735,612.82
COE Cooper Energy Ltd 0.2725 -1 -25 -37 1 $ 440,377,048.35
ZEL Z Energy Ltd. 2.44 -6 -23 -14 1 $ 1,264,758,752.79
2BE Tubi Limited 0.049 0 -31 -47 0 $ 15,254,032.17
88E 88 Energy Ltd 0.021 -16 163 320 0 $ 289,223,994.66
ABL Abilene Oil & Gas 0.001 0 0 0 0 $ 397,614.35
ADX ADX Energy Ltd 0.0085 -6 21 21 0 $ 20,464,092.14
AEE Aura Energy 0.043332 0 0 0 0 $ 17,157,675.10
BAS Bass Oil Ltd 0.002 -20 33 100 0 $ 6,684,280.19
CCJDA County International 0.04712 0 0 0 0 $ 960,000.03
E2E Eon Nrg Ltd 0.001 0 0 0 0 $ 769,888.93
EER East Energy Resource 0.036 0 0 1100 0 $ 115,235,533.26
FAR FAR Ltd 0.011 0 0 -35 0 $ 109,767,132.17
FDM Freedom Oil Gas 0.011 0 0 0 0 $ 11,847,248.07
FPL Fremont Petroleum 0.004 -20 33 -11 0 $ 21,053,306.34
GGE Grand Gulf Energy 0.01 -9 11 150 0 $ 3,837,494.78
HPR High Peak Royalties 0.06 3 -29 -14 0 $ 11,337,383.94
JPR Jupiter Energy 0.038 -16 -27 65 0 $ 5,828,352.33
KLR Kaili Resources Ltd 0.025 -4 -38 -31 0 $ 3,685,009.08
LKO Lakes Blue Energy 0.0015 0 0 0 0 $ 53,282,113.44
MCM Mc Mining Ltd 0.105 -9 -48 -28 0 $ 16,214,053.28
MMR Mec Resources 0.004 0 0 0 0 $ 2,737,819.70
NSE New Standard Energy 0.004 0 0 0 0 $ 3,554,995.46
NZO New Zealand Oil&Gas 0.4 5 -39 -11 0 $ 65,772,287.20
OEX Oilex Ltd 0.004 0 300 100 0 $ 20,250,597.46
OXX Octanex Ltd 0.04 -18 90 233 0 $ 9,281,658.24
PGY Pilot Energy Ltd 0.082 0 193 356 0 $ 30,003,876.83
PNL Paringa Resources 0.041 0 0 0 0 $ 25,944,078.11
PSA Petsec Energy 0.021 0 0 0 0 $ 10,260,346.40
RES Resource Generation 0.064 0 0 -20 0 $ 37,208,341.63
RMPDA Red Emperor Resource 0.121429 0 -32 70 0 $ 8,929,980.81
SAN Sagalio Energy Ltd 0.022 -4 47 2100 0 $ 4,502,522.86
TNP Triple Energy Ltd 0.025 0 0 317 0 $ 1,799,901.35
XST Xstate Resources 0.0045 -10 80 125 0 $ 10,758,350.06
ACB A-Cap Energy Ltd 0.061 9 110 578 -2 $ 54,056,861.69
COI Comet Ridge Limited 0.061 -10 -20 -39 -2 $ 45,099,067.98
TOU Tlou Energy Ltd 0.046 -21 -23 -32 -2 $ 27,609,155.79
MEU Marmota Limited 0.044 2 -8 -15 -2 $ 42,615,482.36
VMX Valmec Limited 0.34 13 36 89 -3 $ 42,800,293.10
PVE Po Valley Energy Ltd 0.034 -3 26 -11 -3 $ 22,007,727.50
CUE CUE Energy Resource 0.063 -2 -63 -43 -3 $ 44,679,662.08
TEG Triangle Energy Ltd 0.028 -20 22 -36 -3 $ 16,760,613.99
REY REY Resources Ltd 0.27 0 4 26 -4 $ 57,220,435.53
AJQ Armour Energy Ltd 0.026 -10 -56 -9 -4 $ 39,775,219.12
EDE Eden Inv Ltd 0.024 -14 -17 -31 -4 $ 52,071,308.70
EEG Empire Energy Ltd 0.33 -3 -6 12 -4 $ 147,801,225.99
BUY Bounty Oil & Gas NL 0.021 11 75 75 -5 $ 21,928,019.64
AFR African Energy Res 0.02 18 -9 25 -5 $ 12,459,212.60
SGC Sacgasco Ltd 0.029 -3 -26 45 -5 $ 14,324,799.69
BNL Blue Star Helium Ltd 0.034 3 -6 209 -6 $ 41,417,076.20
CE1 Calima Energy 0.008 -11 14 33 -6 $ 92,466,503.11
ROG Red Sky Energy. 0.0075 -17 275 500 -6 $ 32,419,955.38
MCE Matrix C & E Ltd 0.13 -10 -24 -32 -7 $ 12,790,178.63
PH2 Pure Hydrogen Corp 0.2275 11 174 273 -7 $ 70,622,069.18
TER Terracom Ltd 0.115 19 -30 -34 -8 $ 79,128,801.15
GLL Galilee Energy Ltd 0.665 -18 2 41 -8 $ 197,824,572.52
ICN Icon Energy Limited 0.018 0 6 80 -10 $ 10,756,924.88
OEL Otto Energy Limited 0.009 -10 0 6 -10 $ 43,155,087.96
TMK Tamaska Oil Gas Ltd 0.009 0 29 80 -10 $ 8,460,000.00
PEN Peninsula Energy Ltd 0.155 -6 41 98 -11 $ 162,143,018.24
PRM Prominence Energy NL 0.015 7 50 93 -12 $ 11,303,583.50
WBE Whitebark Energy 0.0035 -13 17 -32 -13 $ 15,305,939.43
IKW Ikwezi Mining Ltd 0.2 11 -50 100 -13 $ 8,536,494.54
IPB IPB Petroleum Ltd 0.026 -16 -35 63 -13 $ 8,031,936.30
AUH Austchina Holdings 0.006 -33 -33 100 -14 $ 9,804,746.17
KEY KEY Petroleum 0.003 -25 -40 -25 -14 $ 5,903,784.38
92E 92Energy 0.29 -2 -15 $ 12,210,900.31
NAE New Age Exploration 0.0145 -19 7 190 -15 $ 19,621,600.74
BLZ Blaze International 0.034 -6 13 70 -15 $ 10,642,503.66
HCD Hydrocarbon Dynamic 0.017 -15 -39 -43 -15 $ 8,365,512.01
HHR Hartshead Resources 0.016 -36 -56 0 -16 $ 31,446,126.14
LAM Laramide Res Ltd 0.5 -22 43 43 -17 $ 602,707.50
CRM Carbon Minerals Ltd 0.25 -31 -36 -17 -19 $ 4,700,873.25
DEV Devex Resources Ltd 0.41 78 74 242 -22 $ 113,898,567.79
WEL Winchester Energy 0.02 0 -17 -29 -23 $ 17,276,122.18
PCL Pancontinental Oil 0.0015 -25 0 0 -25 $ 9,010,073.23
GGX Gas2Grid Limited 0.0025 -18 43 186 -29 $ 5,003,877.60

 

Energy small caps

GTI Resources (ASX:GTR) has been given the go ahead to drill up to 40 exploration holes at ‘Section 36’ of its Henry Mountains uranium-vanadium project in Utah.

Drilling is expected to start in late June or early July and will include geophysical logging of an additional 39 existing small diameter drillholes.

Earlier exploration had found that the thickness and grade of uranium mineralisation was consistent with that observed in the region’s past producing mines.

Elevate Uranium (ASX:EL8), formerly Marenica Energy, flew a 1,500km airborne electromagnetic survey over its Namibia uranium projects in April.

Analysis of the data is expected to be completed in July 2021.

Fremont Petroleum (ASX:FPL) expects oil sales in the June quarter to exceed 20,500 barrels, up from 12,894bbl in the March quarter.

This is due to a full quarter’s contribution from the MHP leases and stable production from all other leases.

It noted that it had moderated its inventory selldown to capitalise on the recent strengthening of the West Texas Intermediate crude price.

Horizon Oil (ASX:HZN) is making good progress in the construction and procurement phases of its WZ12-8 East oil development offshore China.

The standalone platform is currently being fabricated in Qingdao with sail away into the field scheduled for July 2021.

Oil production from WZ12-8E will be combined with production from the existing WZ12-8W platform.

In the Northern Territory, Empire Energy (ASX:EEG) has successfully completed four hydraulic fracture stimulation stages at its Carpentaria-1 shale well.

Each stage was placed in one target shale zone and initial flow-back of fluids has started from the C shale.

The company noted that it has already detected gas at service during the first hours of the flow-back.

Extended production testing will take place after flow-back with samples taken to determine gas, liquids and water yields from each stimulated stage.

Meanwhile, State Gas (ASX:GAS) has confirmed a new Bandanna coal seam gas play at its Rougemont-2 well in Queensland.

The well intersected 8m of net coal, which is consistent with predictions and results from the Rougemont-1 well drilled last month.

This suggests that the extensive Bandanna coal measures in ATP 2062 host significant volumes of gas.

Planning has started for production testing and appraisal drilling.

 

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