Ecofin Water&powr Opportunities Share Discussion Threads

[praipus] 18/1/2016 13:13

Happy New Year.

If only it was, just wondering if this slide is going to start affecting the Z's too.

[hpcg] 31/12/2015 15:41

I need to revisit the holdings and in particular Lonestar. I am also out of touch with what they did with their former Williams holding. ETE is one of the better (less leveraged) MLPs.

[neilyb675] 31/12/2015 14:52

Yep......doubled up recently.

[zcaprd7] 31/12/2015 12:40

Still quite a discount to NAV here. Any takers?

[praipus] 09/10/2015 13:29

Offer (if it happens) for one of ECWO's holdings, WIND

[konkel] 01/9/2015 08:30

NAV falling off a cliff!

[jonwig] 21/8/2015 09:32

ganthorpe - I thought the BoD had said at least a year ago that they wanted to address the discount, given that *something* will need to be done before next July.

Is the market saying that Lonestar is effecively worthless and the oil/gas stuff due for further declines?

I'm glad I sold mine over a year ago, but am always thinking of buying back in. Now just doesn't seem right, though!

[ganthorpe] 21/8/2015 09:01

ECWO shares now at 123P and 25% discount to asset value. The gearing effect on the downside has made the fall worse. I think a word from the Managers would be welcome .

[jzd] 06/1/2015 17:14

Ecofin is largest equity in Capital Gearing Trust portfolio at year end representing 2.64% of their portfolio

hxxp://www.investegate.co.uk/capital-gearing-tst--cgt-/prn/portfolio-update---december-2014/20150106142939P4EF4/

[clancrackan] 10/12/2014 19:37

Lonestar represent 12.4% of ECWOs portfolio and are well funded $142m and producing cheap oil. With ECWO at a discount to NAV of nearly 24% it is practically twice written off ! Lonestar may well in the long run come good,
but why worry with the rest of a good portfolio of companies producing a dividend of about 5.3%.

[larmor] 02/12/2014 10:36

Cheers Guys, I think we are in agreement here. If I had the funds I'd be doing the same WO! I've built up a modest holding here over the past couple of years and see it as a long term hold.

[hpcg] 02/12/2014 10:29

Eagle Ford is by far the best place to be. EOG Resources have been able to reduce per barrel cost by 25% from the start of 2014 to now. However to call the selling indiscriminate is misleading. There are certainly views that oil could go much lower.

[wirralowl] 02/12/2014 10:23

No worries Larmor, sorry hadn't seen your earlier post, was busy re-reading the report and trying to cut and paste lol, but think we agree on sentiment!

Sadly I missed the buying opportunity this morning, but I have now put in a limit order, should the price fall to the mid 130's again, as LT think the oil price will recover again, indeed other 'oilies' are already seeing a bounce today.

[larmor] 02/12/2014 10:17

Thx WO. I tried c & p for that and it just came out horribly formatted. Hence my only posting the bare bones

[wirralowl] 02/12/2014 10:09

Following on from my above post, here's what ecwo said from their last monthly update. Though the costs are impressively low, and they are 'aggressively managing' them, the latest falls must be beginning to bite a little, I guess..:

"Continued weakness in oil prices (WTI was off 12% in October) brought indiscriminate selling of smaller cap energy stocks (the
S&P small cap E&P index lost 18%) and Lonestar’s shares dropped 13%. This is despite Lonestar’s resilience to weaker oil
prices because its operations are in the US’ lowest cost unconventional oil basin, the Eagle Ford (Lonestar’s operating and
interest costs are below $20/boe and its all‐in break‐even costs, including drilling costs, are below $50/boe), the company is
aggressively managing its cost base lower so that field margins are actually rising despite the $20/bbl drop in oil prices since
Q2’s average, and it has relatively low gearing (Lonestar’s net debt‐to‐EBITDA ratio is 1.3x compared to its peer average in the
US of 2.5x)."

[hpcg] 02/12/2014 09:52

Lonestar and Seadrill presumably. The latter had a big drop after it cut its dividend entirely. Having said all that the NAV undiluted and diluted were 198 and 193 on Friday morning. Oil alone is not enough of a reason as whoever is selling must think there is something worse happening.

[larmor] 02/12/2014 09:51

Could be, but the last monthly report (for October admittedly) said Lonestar's production costs were amongst the lowest with breakeven below $50 boe. however Lonestar's share price had dropped 13% over the same period.

I see the price has recovered a little....

[wirralowl] 02/12/2014 09:42

I was presuming the fall was down to the oil price and the implications for Lonestar?

[larmor] 02/12/2014 09:39

I have no idea. Can't find a reason for such a large fall, unless they anticipate dumping of these newly issued shares on the market but it's only a modest amount isn't it? Need someone cleverer than me (not difficult!)to explain it. Just got paid an increased dividend too. Grrr!

[konkel] 02/12/2014 09:32

Why would anyone have converted their CULS?

[edwardt] 19/11/2014 15:05

monthly factsheet gave a good explanation!

[edwardt] 19/11/2014 12:36

lonestar up 20%+ over night- anyone know what is happening there.

[wirralowl] 16/10/2014 12:52

I wasn't smart enough to sell at the top, but 140p looks like a natural top-up area for me, if it gets there. Still trading at a large discount to NAV, which most recently was given at just over £2. How about you bt?

[badtime] 16/10/2014 12:15

Coming back nicely..anyone fancy buying yet?

[badtime] 23/9/2014 11:02

Yes i like z's here..perhaps instead of cash