Kistos Share Discussion Threads

[fandagle] 12/4/2024 10:34

Wondering if the Norwegian FPSO commissioning has pulled the schedule closer from the end of the year?

[bigalan3] 12/4/2024 08:39

Finally some upward movement. Anybody suggest a reason? Gas storage?

[fandagle] 11/4/2024 21:50

Significant buys here recently, hard to say what AA’s next move is, Norway again? Southern Gas Fields or a merger.

[loofyloofy] 10/4/2024 09:33

Nibbled again - gonna bounce

[steve73] 10/4/2024 02:06

This should help UK domestic/european gas producers...?

[yawn1971] 07/3/2024 12:13

Give me a break Kistos

[nchanning] 06/3/2024 12:07

Surely irrelevant news about the Windfall tax as Labour a lock to win the election and extend it anyway

[fandagle] 05/3/2024 15:51

Glad I didn't buy in earlier, will keep my gunpowder dry, especially if AA keeps talking us down.

[geckotheglorious] 05/3/2024 15:00

Ah explains the 9% fall today then

Thanks mariopeter.

[yawn1971] 05/3/2024 11:12

Back to 140p ??

[soundsplausible] 26/2/2024 11:08

I for one know little about gas trading. What are the margins for gas trading with this site and what quantities are expected to be run through it on an annualised basis?

[vino] 25/2/2024 13:54

Interesting article in the guardian today about the annual int energy week conference to discuss the future of gas and the issues around pipes, storage facilities etc and the role of LNG and wind etc on the prices of gas
Milder winters more wind and other sources of energy will affect the price and the need for storage of gas and so it looks like AA is taking a contrarian view with this purchase even though gas will be required until at least the 50’s

[ohisay] 21/2/2024 00:29

Malcy is a fan of course..from his blog.

Smart, exciting and interesting is what I make of this deal which I certainly wasn’t expecting but which seems to be a well fitting and more key, a strategically important piece of business. Key and strategic because it fits in very nicely with UK Energy Security Policy, something that should remain the case whatever the colour of the Government and changes AA into a new strategic investor…

The two gas storage facilities have been bought for a fraction of what they originally cost and are a major part of the UK onshore gas storage jigsaw and perhaps more interestingly are ‘fast cycle’ which means that they are instantly available for short term demand. In this respect to begin with Kistos will be working with a ‘leading trading house’ although I would expect them to be doing that job themselves before long, worth the while if you can provide 11% of the UK’s flexible daily gas capacity if called upon.

Being free to buy or sell gas gives Kistos significant extra flexibility in the market it operates and this subsidiary not being considered an oil and gas company will own 100% of the trading business and liable only to taxation as a trader and not the Looney tax. It also has the opportunity to provide the UK with highly valuable ‘cushion gas’ the value of which alone more than justifies the purchase price.

Finally and for the longer term, the company notes that this could provide profitable opportunities in both compressed air and has potential for hydrogen trading should that market develop. It looks like Andrew Austin has yet again come up with a dollar for a dime..

I note todays volume was the biggest since last June ..the market clearly liked it too.

[wheniamfree] 20/2/2024 14:05

The facility cushion gas in place valued at £24m at spot. Looks like AA has picked this up for net cost of next to nothing.

[tigerbythetail] 20/2/2024 10:34

Well, this is one way to avoid the windfall tax!
On the whole I think a good deal. But I'd still be grateful for a full company update.

[ohisay] 20/2/2024 09:04

Indeed though I'd like to see the 2023 PBT for EDF as a comparison with 2022's £32m.

[everton448] 20/2/2024 07:23

Looks like another gem from AA - spotting value where other matter players aren't interested just like in RR days

[zebbo] 15/2/2024 17:12

Still here waiting for RR Mk2.......2025 will be the biggy IMO

[fardels bear] 14/2/2024 10:32

Where are all the AA cheerleaders from a couple of years ago?

[edefosseux] 02/2/2024 12:49

ashkv
THanks for the usefull summary. Mixing today's market cap with last August debt may be misleading. Assuming Norway is a good payer and positive FCF since august, today's EV is below current market cap.
To me there will be a significant repricing at PR, but all this is very uncomfortable.
In the meantime the insiders who know their maths can get the stuff for cheap.
THey need to release every quarter.

[ripvanwinkle3] 02/2/2024 11:39

Jeez, looks like we heading towards ipo share price Even the arch deramper Tazerface might be fancying a punt at these levels!

[chessman2] 01/2/2024 23:49

I agree Nigel, far too cheap!

[nigelpm] 01/2/2024 20:23

Fairly clear the year end Cash balance was c.£235m

With outstanding debt of c. £214m (less NL2 bonds)

so roughly net cash at YE - £20m vs. market cap of £118m.

EV is c.£100m - probably far too cheap.

[nigelpm] 01/2/2024 20:17

The logic of a merger between SQZ, KIST, ENQ is huge - to then be swallowed by HBR.