Kistos Share Discussion Threads

[nigelpm] 01/2/2024 20:17

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

[ashkv] 01/2/2024 09:54

SP: 142.00p
KIST Current Share Price vs 52 Week low of 142p on 1 Feb 24: 0.00%
KIST Current Share Price vs 52 Week High of 435p on 13 Feb 23: -62.63%
MarketCap GBP: £117,661,200
MarketCap USD: $148,841,418
Brent: $81.25
British Gas Prices (Next Month): £74
Cash EUR (31 Aug 2023) (Pro Forma): €226,000,000
Cash USD (31 Aug 2023) (Pro Forma): $244,080,000
Debt EUR (30 June 2023) (Pro Forma): €289,000,000
Debt USD (30 June 2023) (Pro Forma): $312,120,000
Net Debt(EUR) (31 Aug 2023) (Pro Forma): -€63,000,000
Net Debt(USD) (31 Aug 2023) (Pro Forma): -$68,040,000
TAX REFUND FROM NORWAY DUE DECEMBER 2023: €71,700,000
Enterprise Value (In USD): $216,881,418
2023 Production Guidance (Mid Point 8,500 to 10,500 boe/d) 9,500
H1 2023 Proforma Production Average: 9,200
Enterprise Value/Barrel (2023 Production Guidance Mid Point): $22,830
Enterprise Value/Barrel (HY 2023 Average Actual Production): $23,574
Enterprise Value/Barrel (2023 Mid Point Guidance Including Norwegian Tax Refund Due Dec 23): $14,678
Enterprise Value/Barrel (2023 Mid Point - Including Decommissioning Costs And Tax Refund Due Dec 23): $36,395
Abandonment Provision (Decommissioning Costs - HY 2023 Results): $208,867,680
Enterprise Value (EV) / 2P Reserves (Including Mime Acq 36.3 MMboe): $5.97
Shares Outstanding: 82,860,000
GBPUSD: 1.265
EURUSD: 1.08

[ashkv] 01/2/2024 09:53

WHAT IS GOING ON? BETTER TO COME OUT WITH THE BAD NEWS... THAN LET THIS ROT GO ON AND ON!!! SLOW DEATH!!!

Really disappointing leadership by Andrew Austin!!! Is going to lose his sheen for good if this callous silence persists...

[herecomesthesun] 01/2/2024 09:03

Kistos down 77% since its highs and down another 4% today

soon be back to where it all started

where's fanny ?

bwahahahahahahahahaha :)

[yawn1971] 29/1/2024 14:16

Wow. Where is the bottom ?

[papillon] 23/1/2024 15:06

There was a large, very bearish, H&S pattern formed on the KIST chart in 2022.
The share price looks like it's heading back down to £1

[ohisay] 18/1/2024 17:00

BR you make very solid points .Thanks for taking the time ..

[billy ray] 18/1/2024 16:53

ohisay,

Good point. Perhaps AA thinks that the debt position was clear from the interims in September and then the Netherlands bond redemption RNS in December? But you'd have thought it would have been just as easy to re-state the cash and debt position today, so to provide shareholders with better clarity.

Generally, my experience is that AA can be a bit frugal with info at times (certainly, for example, in comparison to Paul Griffiths at PRD who is much more willing to share lots of info with shareholders). But I don't read anything particularly nefarious into that, I just think it's how AA runs his companies.

[billy ray] 18/1/2024 16:40

Cash,

I'm certainly not disagreeing with you. But, as the saying goes, politicians campaign in poetry and govern in prose. So if Labour does win the general election, then I wonder if Starmer may have to be slightly more pragmatic than his current rhetoric suggests with regard to fossil fuels and the necessity for UK security of supply (at the very least, relating to natural gas which is considered a vital part of the energy transition and is relatively low-carbon in comparison to coal and oil).

And whoever wins, post election there should at least be some clarity over the tax situation going forward, and any further investments in the UKCS can then be planned accordingly.

If Labour does win (likely) then I can see an immediate sell off in companies with exposure to the UKCS, like KIST. But that might just also offer an intriguing contrarian buying opportunity? (One for the brave!)

And mariopeter, as I have a very decent-sized holding in PRD, I absolutely agree with you about Morocco! PRD's most recent RNS mentioned three times the opportunity, post successful testing, for a 'partial monetisation' of its Moroccan gas assets, and AA could do a lot worse than to utilise KIST's large cash pile to invest in Guercif, IMO.

However, saying that, AA does tend to like already producing assets rather than a development opportunity such as Guercif (although, of course, CNG could be up and running in the fairly near term), which may preclude PRD as an option?

So my personal hunch is that AA will look to add assets in Norway. Yes, the tax rate is high but at least it's stable (with decent relief on investments), so he can therefore more accurately calculate the potential returns on any assets without being overly concerned about further government meddling.

[ohisay] 18/1/2024 14:44

Thankyou Billy Ray .
I had the same positive thoughts about their net debt position but then why not say so ??..just thought it a bit odd.

[mariopeter] 18/1/2024 14:01

Morocco. Great fiscal regime. PRD testing a find but it maybe too big.

[cashandcard] 18/1/2024 13:00

General election ?Starmer is very likely to win, going by all the polling data and they have nothing good to say about Fossil fuels - they are firmly in the Great Thurnberg camp.AA needs to forget about UK plc right now and follow in the footsteps of HBR - expand abroad. I know he wouldn't, but I wouldn't mind some exploration assets in a place like Namibia. Absolutely phenomenal the scale of discoveries they are making overthere just now. Cash

[billy ray] 18/1/2024 09:03

I'd just been wondering about the debt position myself.

The YE cash position presumably includes paying ~€77M to redeem the NL2 bonds (in December).

So that just leaves the Mime bonds which, from the most recent Interims, were $226.6M (excluding the $45M non-interest bearing bonds), which equates to approx €210M.

So I'm estimating a net cash position at YE of €65M (£58M). And this is, as mentioned, after redeeming all the Netherlands debt and a fairly 'scratchy' operational performance in 2023.

So I'm estimating a current EV of ~£80M.

It was interesting to note AA's words in today's RNS mentioning the "support of the British government" - the uncertainty around this is clearly a major headwind to further investment in the UKCS. Hopefully we'll have a bit more clarity on this issue post the general election (autumn?). Until then, might AA keep his powder dry?

[cashandcard] 18/1/2024 08:20

Hoping that's reducing by a good chunk.I do hope he'll take a leaf out of the HBR book and further expand the portfolio away from UKCS.The tax regime is a disgrace.Cash

[ohisay] 18/1/2024 08:06

They havent told you about their debt position...they had net debt of 42m euro mid year.

[bigalan3] 18/1/2024 07:11

Kistos now has more in cash than their market capitalisation. Exactly the same as Rockrose. What is he going to do about it before someone else does.

[marcela9] 08/1/2024 12:01

definitely, mario - thank you

[mariopeter] 08/1/2024 09:28

28.711.542 Nm3
FEBRUARI
23.889.296 Nm3
MAART
26.766.314 Nm3
APRIL
24.857.296 Nm3
MEI
25.338.692 Nm3
JUNI
9.224.659 Nm3
JULI
7.375.908 Nm3
AUGUSTUS
4.346.004 Nm3
SEPTEMBER
19.132.371 Nm3
OKTOBER
26.182.401 Nm3
NOVEMBER

[ashkv] 06/1/2024 13:42

Mr A Austin - you are making Mitch Flegg look good!!!

2024 requires some of your financial wizardry to revive KIST!!!

Horrendous share price!!!

Perhaps some Director Buys?? Long overdue!!!

[mariopeter] 05/1/2024 10:42

Figures from Q10 getting much better . Can't post them right now.

[alanp6] 31/12/2023 14:05

There’s no way IMO that AA will let that happen.

[ohisay] 30/12/2023 05:18

They must surely be eying up Kist atm given the recent share price weakness...

[ohisay] 23/12/2023 04:00

Posted here before but 40 mins in.... is worth watching again.

I rather doubt AA is happy with the current market view of Kistos
I'd expect some movement one way or another in the New Year..

[ohisay] 18/12/2023 10:01

Looks good value here.I've bought a few.

[yawn1971] 18/12/2023 08:58

This is really is unloved right now !