Kistos Share Discussion Threads

[chessman2] 31/7/2023 13:42

The share price is steadily approaching 250p with some good trading so far today.

I expect the share price to slowly but surely continue in a northerly direction The interim report giving up to date information should be available by the second week in September.

[chessman2] 24/7/2023 09:47

Some very interesting buying here recently, so much so, that I’ve decided to take an interest.

The great advantages here are that not only do KIST have excellent management but they also have interesting & valuable assets.

The share price is at an attractive level and compares very favourably with the level of a year ago.

IMO any purchase at or below the 250p level will prove to be excellent value.

[hiddendepths] 21/7/2023 15:54

What an unloved share!

[pro_s2009] 21/7/2023 08:24

The UK is just a write off at the moment.

[hiddendepths] 21/7/2023 08:18

Not sure what Dutch reserves are worth these days! Even so, bought a few on this news.

At least their windfall tax was a one-off for 2022 unlike the UK's suicidal measures.

[dunderheed] 21/7/2023 08:11

As ever AA the excellent negotiator!

[cashandcard] 21/7/2023 08:07

Great result!Cash

[dunderheed] 20/6/2023 08:59

Reserved for DC.

[dunderheed] 20/6/2023 08:58

Reserved for monte1.

[cashandcard] 20/6/2023 08:30

Oh well, atleast it was only a few $million overall impact - easily written down.Cash

[mariopeter] 19/6/2023 10:20

Original drill 1 TCF
Appraisal drill 600 BCF
Appraisal 2 drill zero?

There you go that's the effect of North Sea taxes. The third drill was contracted before WFT and needed to be very special to say it was commercial.

[piratepeter] 19/6/2023 07:44

Sadly - As we know today it is sub commercial.

[adg] 18/6/2023 13:40

So £2.5m loss if well is dry….. or thruppence-haypenny profit (after tax) if it’s a gusher 🤣

[cashandcard] 16/6/2023 13:18

Can't be long now for a result at Benriach. Pretty big for KIST if it comes in as expected.Cash

[cf456] 16/6/2023 13:00

Large volume today

[mariopeter] 16/6/2023 12:00

Hard to get excited about the North Sea with Labour threatening.

[mariopeter] 16/6/2023 11:59

LARGE DRILL RESULT DUE Q3


29th March RNS for the second appraisal well (82days actual drill time):


"The Benriach exploration well, located on block 206/05c (Kistos 25%) West of Shetland and operated by TotalEnergies E&P UK, has been spudded by the Transocean Barents. The operator estimates it is targeting P50 prospective resources of 638 Bcf (160 Bcf or 28mmboe net to Kistos). The well is expected to complete in Q3 2023. The dry hole post-tax cost net to Kistos is forecast to be GBP2.5 million as a result of Kistos' tax paying position and the enhanced investment allowances from the Energy Profits Levy".

[yawn1971] 16/6/2023 11:10

So where is this little rally going to finish?

[mariopeter] 05/6/2023 21:53

TTF jumped today.

[waugh7777] 02/6/2023 22:38

If you are sick of losing money here you need to buy PXEN / Prospex Energy. Due to a special occasion of a TR1 selling, this is now an absolute dead certain 100% increase from here.Revenues soon to be €14m and only valued at 20m mcap.Dropped from 21p now 8p. It is an instant 100% and will be at 20p in a few weeks.

[mariopeter] 31/5/2023 14:00

FID on Orion oil this year they hope. One horozontal well flowed 3500 bopd. Not subject to stupid tax.

[anley] 30/5/2023 16:09

This is a killer of business in the North Sea whether you are operating in the UK or Dutch sector.

But first read on..........

Think about the 400m EU citizens who will in say 2025/30 have no gas boilers - no access to gas because nobody will invest and so on. There will be riots OR will new governments come to the rescue and say enough is enough and reverse many of these tax and exploration policies with fingers up to the "eco" slobs both in the UK and the EU.

It is up to shareholders to tell the boards of E&P oil/gas companies to pull your fingers out and inform governments that we will stop investing.


The effective tax rate for the Group in 2022 was 89.8% (2021: 45.7%). The increase was driven by the introduction, and subsequent increase and extension, of the Energy Profits Levy in the UK and the imposition of the Solidarity Contribution Tax in the Netherlands. The latter is a one-off tax levied on so-called 'surplus profits' generated in 2022. The Group paid EUR65.7 million in cash taxes in 2022 (2021, EUR0.9 million), all relating to Dutch tax liabilities. Due to the timing of the GLA acquisition, no cash corporation tax was due or paid during 2022 in the UK.

[mariopeter] 30/5/2023 10:42

Hi Sunbed,

Think we need to shake all the tax by doing some acquisitions abroad but can't see divis for a while although the management are wholly aligned with other shareholders on that front.

Results look a bit grim with all that tax although I note there is some hope on the tax provisions.

Very big UK appraisal drill under way currently which could change the direction of the share price but will still attract high tax rates although a roll out there could be great timing as tax relief will be high. No idea how that affects overall return on capital but Equinor seem to manage a good living in Norway where tax rates are constantly over 80%.

The oil in Holland will not have all that tax attributed to it and think I would rather they developed that out before receiving dividends.

Not a fan of the Norwegian North Sea btw. Morocco may need some investment later and that is a wonderful tax regime.

Feeling a bit flat today on this but I do love the management and that is totally key for me.

[ashkv] 30/5/2023 10:39

Rock bottom valuation for KIST - insanely cheap on an Enterprise Value per Flowing Barrel basis - more so as Netherlands taxation was only an one off..

SP: 226p
KIST Current Share Price vs 52 Week low of 226p on 30 May 2023: 0.00%
KIST Current Share Price vs 52 Week High of 665p on 30 Aug 2022: -66.02%
MarketCap GBP: £187,263,600
MarketCap USD: $232,206,864
Brent: $76.00
British Gas Prices (Next Month): £59
Cash EUR (31 Mar 2023) (Pro Forma): €293,000,000
Cash USD (31 Mar 2023) (Pro Forma): $313,510,000
Debt EUR (31 Mar 2023) (Pro Forma): €288,000,000
Debt USD (31 Mar 2023) (Pro Forma): $308,160,000
Net Cash(EUR) (31 Mar 2023) (Pro Forma): €5,000,000
Net Cash(USD) (31 Mar 2023) (Pro Forma): $5,350,000
Enterprise Value (In USD): $226,856,864
2023 Production Guidance (Mid Point 8,500 to 10,500 boe/d) 9,500
Enterprise Value/Barrel (2023 Production Guidance Mid Point): $23,880
Enterprise Value/Barrel (2023 Mid Point - Including USD 80million Tax Refund Due Dec 23): $15,459
Enterprise Value/Barrel (2023 Mid Point - Including Decommissioning Costs And USD 80million Tax Refund Due Dec 23): $29,369
Abandonment Provision (Decommissioning Costs - FY 2022 Results): $132,148,210
Enterprise Value (EV) / 2P Reserves (Including Mime Acq 36.3 MMboe): $6.25
Shares Outstanding: 82,860,000
GBPUSD: 1.24
EURUSD: 1.07

[jungmana] 30/5/2023 07:35

Just insane. No wonder companies are scaling back on investment. Better opportunities elsewhere