Harbour Energy Share Discussion Threads

[oilretire] 21/12/2023 15:03

nigelpm, I think some of that premium should never have been available in the first place but it was thanks to ukgov taxation - this deal is an immense piece of diversification away from the perceived problems of being UK focused.

[kenbos] 21/12/2023 14:58

Merry Christmas harbour

[blackhorse23] 21/12/2023 14:57

money moving to PFC ?

[spacedust] 21/12/2023 14:57

300p plus before close watch this space.....no dust

[royalalbert] 21/12/2023 14:56

I'm happy.

[wolfofhounslow] 21/12/2023 14:55

Space dust, can you read ?

[missmimz] 21/12/2023 14:54

14:20 JEFFERIES REINITIATES HARBOUR ENERGY WITH 'BUY' - PRICE TARGET 340 PENCE

[nigelpm] 21/12/2023 14:54

Never seen anything like that before at such a premium. Price should be close to 360p at the very least

[spacedust] 21/12/2023 14:54

Where are they gett8ng 10s of billions of pounds from

[mattybuoy] 21/12/2023 14:50

What a stunning deal!

[wolfofhounslow] 21/12/2023 14:45

Also I expect a lot of upgrades from analyst in the coming days/ weeks Maybe Xmas trading week hasn't pushed the share price higher !!Bargain for anyone buying now tbh

[oilretire] 21/12/2023 14:44

I guess because there's a lot to digest and it'll move upwards in coming days.It also needs shareholder approval (no brainer) and a raft of other things to complete..... The Acquisition is subject to, amongst other things, regulatory, antitrust and foreign direct investment approvals, as well as Harbour shareholder approval. Completion of the Acquisition is expected to occur in Q4 2024.

[wolfofhounslow] 21/12/2023 14:36

Why is this not around 400p

[patience a virtue] 21/12/2023 14:33

Fantastic news! Well done to Linda and the team. Onwards and upwards!

[wolfofhounslow] 21/12/2023 14:33

Excellent news!

[wskill] 21/12/2023 14:30

Did say on 24th November on this board the Arabs were not inclined to pay the asking price they always leak for a reason, excellent news for HBR onwards and upwards.

Well done to management I say they have done well

[llef] 21/12/2023 14:29

crikey and wow indeed.
360p a share....

Approximately 921.2 million new Harbour shares issued
to Wintershall Dea's shareholders (the "
Consideration Shares ") at an agreed value of $4.15
billion or 360 pence per Harbour share, representing
a premium of c.60 per cent to Harbour's 30-day volume
weighted average share price of c.227 pence [16] ,
such that on completion:

[rolo7] 21/12/2023 14:26

Hbr to be in fste100

[randomwalker] 21/12/2023 14:22

Crikey ;-))

[bearnecessities33] 21/12/2023 05:56

Energy Intelligence

Mubadala Makes Big Gas Discovery in Indonesia

Abu Dhabi’s sovereign wealth fund Mubadala Energy said it made a discovery with potential for over 6 trillion cubic feet of natural gas-in-place, deep in the Andaman Sea, offshore Indonesia.

This discovery, along with others in the Andaman basin, could potentially improve Indonesia's gas and LNG outlook, perhaps slowing the country's long-running LNG net export swoon (see graph below).

Layaran-1 Offshore North Sumatra

The company made the strike about 100 kilometers offshore North Sumatra after drilling the Layaran-1 exploration well, on the South Andaman Block, which flowed over 30 million cubic feet per day of “excellent gas quality,” the company said in a statement.

Wood Mackenzie estimates an initial 3.3 Tcf of recoverable resources, equivalent to over 580 million barrels of oil equivalent, based on a conservative recovery factor.

“This would make Layaran the second-largest deepwater discovery globally in 2023,” Wood Mackenzie said in a statement adding that future appraisal success could significantly increase this recoverable estimate.

For example, a recovery factor of 75% would see recoverable resources rise to 4.5 Tcf or 790 MMboe.

The Layaran discovery also confirms the potential of the Andaman basin following the success of Timpan-1 in the Harbour Energy-operated Andaman-II Block, last year.

Two more wells, Halwa-1 and Gayo-1 are now set to be drilled in the block by the West Capella rig, which is currently repositioning from the South Andaman Block.

Harbour believes the area could hold more than 15 Tcf of recoverable gas.

Exploration Success

The Layaran discovery is of significance to Indonesia although it is unlikely to contribute to its 2030 production target of 1 million barrels per day of oil and 12 billion cubic feet per day of gas.

Layaran is indeed the third large discovery made in Indonesia in about a year and a half following Timpan and Geng North, a 5 Tcf discovery made by Eni in the Kutei Basin earlier this year.

It puts Indonesia ahead of Guyana, Namibia, and Malaysia in terms of discovered resources in 2023, according to Wood Mackenzie.

This could strengthen investors’ interest upstream, where less than half of Indonesia’s 128 identified oil and gas basins have been drilled.

Indonesia’s last major discoveries date back to the early 2000s, with the Abadi gas field and Cepu oil and gas field discovered by Inpex and Exxon, respectively.

Commercialization

Harbour said in the past that the gas could be sent to nearby Medan or Aceh in Indonesia, where it could be used in fertilizer or power plants.

These industries are however unlikely to absorb the entire production, resulting in Harbour looking at Malaysia, Thailand and Singapore for possible deliveries by pipeline.

The company is also considering exporting some of the gas by reviving the former Arun LNG plant.

Arun LNG was originally built as a 3 million ton per year liquefaction facility, but Exxon Mobil converted it to a regasification terminal and handed it over to state-owned Pertamina in 2015 after the gas reserves ran out.