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KIST Kistos Holdings Plc

117.00
4.00 (3.54%)
13 Dec 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Kistos Holdings Plc LSE:KIST London Ordinary Share GB00BP7NQJ77 ORD GBP0.10
  Price Change % Change Share Price Shares Traded Last Trade
  4.00 3.54% 117.00 216,077 16:35:12
Bid Price Offer Price High Price Low Price Open Price
114.00 118.00 117.00 114.50 117.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Trust,ex Ed,religious,charty EUR 210.35M EUR -24.68M EUR -0.2979 -3.89 93.64M
Last Trade Time Trade Type Trade Size Trade Price Currency
16:35:12 UT 3,742 117.00 GBX

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Date Time Title Posts
25/11/202414:59Round 2 for Mr Austin996
10/4/202408:33Kistos PLC - Energy in Transition1,063

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Posted at 14/12/2024 08:20 by Kistos Daily Update
Kistos Holdings Plc is listed in the Trust,ex Ed,religious,charty sector of the London Stock Exchange with ticker KIST. The last closing price for Kistos was 113p.
Kistos currently has 82,863,743 shares in issue. The market capitalisation of Kistos is £96,121,942.
Kistos has a price to earnings ratio (PE ratio) of -3.89.
This morning KIST shares opened at 117p
Posted at 12/11/2024 10:37 by ashkv
Added KIST at 96p - fall appears overdone :)

12 November 2024

SP-> 96.00p
KIST Current Share Price vs 52 Week low of 96p on 12 Nov 24-> 0.00%
KIST Current Share Price vs 52 Week High of 195p on 5 Dec 23-> 103.13%
MarketCap GBP-> £79,549,193
MarketCap USD-> $101,822,967
Brent-> $72.10
British Gas Prices (Next Month)-> £110.5
Cash USD (30 June 24) -> $70,000,000
Debt USD (30 June 24) -> $244,900,000
Net Debt(USD) (30 June 24) -> $174,900,000
TAX REFUND FROM NORWAY DUE DECEMBER 2024-> $84,000,000
Enterprise Value (In USD)-> [Subtracting Dec 2024 Norway Tax Refund] $192,722,967
2024 H1 Average Production -> 8,400
2024 Production Guidance (Mid Point 7,500 to 8,500 boe/d) -> 8,000
FY 2023 Proforma Production Average-> 8,800
EV/Barrel (2024 H1 Average Production)-> $22,943
Enterprise Value/Barrel [2024 Production Guidance (Mid Point 7,500 to 8,500 boe/d)]-> $24,090
Enterprise Value/Barrel (FY 2023 Average Actual Proforma Production)-> $21,900
Enterprise Value/Barrel (2023 Actual Production - Including Decommissioning Costs And Tax Refund Due Dec 24)-> $51,299
Abandonment Provision (Decommissioning Costs - HY 24 Results)-> $258,706,000
2P Reserves HY 2024 -> 26,400,000
Enterprise Value (EV) / 2P Reserves (YE23 2P Including Mime Acq 27.9MMboe)-> $7.30
Shares Outstanding (Per 2023 FY Results)-> 82,863,743
GBPUSD-> 1.28
EURUSD-> 1.062
Posted at 25/9/2024 08:05 by ashkv
Happy with production at top end of 2024 guidance for H1 2024

Going into winter / Q4 gas prices and oil prices should be supportive.

Net debt skewed high based on expectation of 2024 Norwegian Tax Refund of USD 84 million due in late Q4 2024

Once Jotun FPSO is online late mid 2025 KIST will be firing on all cyclinders :)

Director Buys would be appreciated / are warranted :)



SP-> 112.00p
KIST Current Share Price vs 52 Week low of 112p on 24 June 24-> 0.00%
KIST Current Share Price vs 52 Week High of 224p on 28 Sep 23-> 100.00%
MarketCap GBP-> £92,807,392
MarketCap USD-> $124,361,905
Brent-> $75.00
British Gas Prices (Next Month)-> £87.0
Cash USD (30 June 24) -> $70,000,000
Debt USD (30 June 24) -> $244,900,000
Net Debt(USD) (30 June 24) -> $174,900,000
TAX REFUND FROM NORWAY DUE DECEMBER 2024-> $84,000,000
Enterprise Value (In USD)-> $299,261,905
2024 H1 Average Production -> 8,400
2024 Production Guidance (Mid Point 7,500 to 8,500 boe/d) -> 8,000
FY 2023 Proforma Production Average-> 8,800
EV/Barrel (2024 H1 Average Production)-> $35,626
Enterprise Value/Barrel [2024 Production Guidance (Mid Point 7,500 to 8,500 boe/d)]-> $37,408
Enterprise Value/Barrel (FY 2023 Average Actual Proforma Production)-> $34,007
Enterprise Value/Barrel (2024 Mid-Guidance Including Norwegian Tax Refund Due Dec 24)-> $26,908
Enterprise Value/Barrel (2023 Actual Production - Including Decommissioning Costs And Tax Refund Due Dec 24)-> $51,067
Abandonment Provision (Decommissioning Costs - FY 2023 Results)-> $234,125,920
2P Reserves HY 2024 -> 26,400,000
Enterprise Value (EV) / 2P Reserves (YE23 2P Including Mime Acq 27.9MMboe)-> $11.34
Shares Outstanding (Per 2023 FY Results)-> 82,863,743
GBPUSD-> 1.34
Posted at 13/5/2024 12:46 by ashkv
Berenberg Post Results Note for Kistos -> Berenberg maintains 12 month Target Price of 455p

● Kistos has reported its FY23 results this morning, highlighting solid operational performance
and with the balance sheet broadly in line with expectations. The company continues to see
the benefits of recent M&A activity: its key growth project in Norway is on track and the UK
gas storage assets are providing useful incremental cash flow. As ever, the company remains
active in screening potential accretive M&A opportunities to continue growing and
diversifying the portfolio. This is a solid update overall, in our view, and we reiterate our Buy
rating with Kistos trading on FY25 EV/EBITDA of 1.1x, EV/DACF of 1.2x and a 97% FCF yield .
● Key figures – production and balance sheet in line: Pro-forma FY23 production averaged
8.8kboe/d (Bloomberg consensus: 8.8kboe/d), down by 20% yoy due to a natural decline in
the UK and Netherlands assets and some unplanned outages at third-party infrastructure.
This was offset by the addition of the Balder and Ringhorne assets in Norway. Pro-forma
revenue was 3% behind consensus at €223m, although higher opex meant that EBITDA came
in at €122m, versus consensus at €155m. Importantly, the company ended the year with cash
of €195m, as previously indicated, and net debt of €24m after taking on the bonds associated
with the Mime Petroleum acquisition (Norway). Kistos has redeemed the bonds taken on as
part of the 2021 Tulip Oil acquisition, increasing the company’s flexibility in relation to
shareholder distributions and reducing annual interest costs by €15m.
● Norway production improving, Balder project on track: New wells being brought onstream
and improved production efficiency after summer maintenance (reaching 98% in Q4) means
that net production from the Balder and Ringhorne assets averaged c2.6kboe/d in H2, up by
just over 50% from H1. Importantly, the Balder Future project remains on track – in its Q1
results, the operator (Var Energi) indicated that 11 of 14 wells are now complete, the subsea
scope is over 85% complete and the floating production, storage and offloading (FPSO) vessel
is over 95% complete. It also believes that the project is on track to start up in Q4 2024, reaching
peak production of 80kboe/d (8kboe/d net to Kistos’s 10% interest) and produce roughly
150mmboe (gross) over the project life. The project is a key driver of Kistos’s near-term growth
and will increase the liquids mix in the business as well as diversifying away from the UK.
● Netherlands and UK operations broadly in line: Production from Q10-A (Netherlands) was
2.7kboe/d (Berenberg: 2.6kboe/d), down yoy after the impact of a compressor leak on the
third-party P-15D platform through which the gas is exported. The infrastructure operator is
cooperating with Kistos (and other users) to maximise recovery and minimise costs of the
assets, but reserves may now end up lower than previously thought. Elsewhere in the
Netherlands, Kistos expects the second phase of the concept select at the Orion oil field to
complete shortly with a final investment decision (FID) possible in H2 2024; if this timeline is
met, then first oil would be expected in 2026. In the UK, production from the Greater Laggan
Area (GLA) assets averaged 4.0kboe/d (Berenberg: 4.1kboe/d). Following completion of a 4D
seismic campaign, Kistos and the operator (TotalEnergies) are exploring infill drilling options
over the Laggan, Glenlivet and Tormore fields, and continue to assess the potential Edradour
West and Glendronach developments.
● Storage deal adds value to Kistos: The company announced in March a deal to acquire two
onshore UK gas storage assets (Hill Top Farm and Hole House Farm) from EDF, for a total
consideration of £25m. The deal has now been completed, giving Kistos access to 17.8m
therms (with work ongoing to increase this to 21.2m), or up to 11% of the UK’s flexible daily
gas capacity. This could increase further if the company decides to reactivate the Hole House
site. On our estimates, which we believe are conservative, the company should generate
annual CFFO of c£3.8m, with an NPV of £35m. Upside exists in the form of greater volatility
in the system, potential for further capacity expansion, and we also note potential to use the
sites for hydrogen or compressed air storage in the longer term.
● Our primary valuation methodology is a risked NAV using full life-of-field economics and a
10% discount rate
Posted at 13/5/2024 11:22 by ashkv
With the massive Q1/Q2 2024 tax payment to the UK and payment for recently acquired gas storage assets - 30 April financial picture appearing not so rosy. This will all change with Balder coming online in Q4 2024.

SP doesn't reflect new gas storage, Balder, massive Eur 80 million Dec 2024 Norway Tax Refund and AA deal making capabilities. Perhaps the share price could go lower but this is a decent range to add as the balance sheet will deleverage going forward and this should reflect in market cap -



SP-> 160.00p
KIST Current Share Price vs 52 Week low of 138p on 19 Feb 24-> 15.94%
KIST Current Share Price vs 52 Week High of 272p on 16 June 23-> -41.18%
MarketCap GBP-> £132,581,989
MarketCap USD-> $165,727,486
Brent-> $83.00
British Gas Prices (Next Month)-> £72.2
Cash EUR (30 April 2024) (Pro Forma)[Inferred from Eur 148 million Net Debt 30Apr24] -> 70917000
Cash USD (30 Apr 2024) (Pro Forma)-> $76,590,360
Debt EUR (31 Dec 2023) (Pro Forma)-> €218,917,000
Debt USD (31 Dec 2023) (Pro Forma)-> $236,430,360
Net Debt(EUR) (31 Aug 2023) (Pro Forma)-> -€148,000,000
Net Debt(USD) (31 Aug 2023) (Pro Forma)-> -$159,840,000
TAX REFUND FROM NORWAY DUE DECEMBER 2024-> €80,000,000
Enterprise Value (In USD)-> $325,567,486
2023 Production Guidance (Mid Point 8,500 to 10,500 boe/d) -> 9,500
H1 2023 Proforma Production Average-> 9,200
FY 2023 Proforma Production Average-> 8,800
Enterprise Value/Barrel (2023 Production Guidance Mid Point)-> $34,270
Enterprise Value/Barrel (HY 2023 Average Actual Proforma Production)-> $35,388
Enterprise Value/Barrel (FY 2023 Average Actual Proforma Production)-> $36,996
Enterprise Value/Barrel (2023 Actual Production Including Norwegian Tax Refund Due Dec 24)-> $27,178
Enterprise Value/Barrel (2023 Actual Production - Including Decommissioning Costs And Tax Refund Due Dec 24)-> $53,560
Abandonment Provision (Decommissioning Costs - FY 2023 Results)-> $225,764,280
Enterprise Value (EV) / 2P Reserves (YE23 2P Including Mime Acq 27.9MMboe)-> $11.67
Shares Outstanding / No warrants outstanding (Per 2023 FY Results)-> 82,863,743
GBPUSD-> 1.25
EURUSD-> 1.08
Posted at 28/9/2023 12:46 by ashkv
Per my calcs Kistos should be net cash in the range of USD 50-75 million by YE 2023 given higher Crude/Gas prices as compared to H1 2023, higher production, massive Norwegian Tax Refund and Lower Capex

By end 2024 on start of Jotun FPSO and Brent at $80, UK Gas between 80-100 per Therm I expect Kist Share Price to be comfortably north of 500p!!!
Posted at 08/2/2023 08:41 by ashkv
Markets are broken - cracker of a RNS by Deltic - mega find off the UK with Super-major Shell and such a tepid share price reaction... unreal... along with KIST share price... 3.24p as I write - could be a good fit for KIST
Posted at 03/10/2022 08:10 by billy ray
Moram Q3 22 update: KIST and SQZ



Suggests Netherlands will apply additional (windfall) taxes only from 2023:
"This is a crucial point as the Netherland already said that it will start in 2023. Consequently, that for Kistos means that the huge amount of money made in 2022, remains in Kistos."

Worth a read of the SQZ update too, as it says Moram expects 500% increase in KIST share price from these levels:
"We cannot see Serica’s share price increasing 500% in the next years as we see Kistos."
Posted at 19/8/2022 09:01 by mariopeter
Could have re-invested the cash and all share not possible because the KIST share price too weak even though EBITDAs were similar. SQZ would have ended up with 75% of the joint company. As I say KIST teeny bit too early.
Posted at 22/7/2022 10:56 by mariopeter
We thought KIST Q11 was the same as Q10 but it wasn't... water wet in the end. Work on 10%. That's what the tank in the KIST share price in Q1 2022 was all about.
Posted at 01/7/2022 21:51 by mariopeter
Could not agree more Mr T.

I have been conservative in projecting 200m stg profit for 6 months and it would be just great to have the legals completed on the Total deal in the UK. Feel gas prices will be higher again in the second half as I used only 85 Euro per MWhr and 200p per therm in my profit projection calcs. Market prices respectively are now 147 Euro per MWhr and 250p per therm and don't see why they would reduce very much during the next 6 months bar a miracle gas build in Europe. Feel the KIST share price will react when the legals are done on Total because so far its a "might have done" deal albeit backdated.

Interestingly we do not have much development cost to write off anymore as most of it was w/off last year.
Kistos share price data is direct from the London Stock Exchange

Kistos Frequently Asked Questions (FAQ)

What is the current Kistos share price?
The current share price of Kistos is 117p.
How many Kistos shares are in issue?
Kistos has 82,863,743 shares in issue.
What is the market cap of Kistos?
The market capitalisation of Kistos is GBP 93.64 M.
What is the 1 year trading range for Kistos share price?
Kistos has traded in the range of 93.20p to 183.00p during the past year.
What is the PE ratio of Kistos?
The price to earnings ratio of Kistos is -3.89.
What is the cash to sales ratio of Kistos?
The cash to sales ratio of Kistos is 0.46.
What is the reporting currency for Kistos?
Kistos reports financial results in EUR.
What is the latest annual turnover for Kistos?
The latest annual turnover of Kistos is EUR 210.35M.
What is the latest annual profit for Kistos?
The latest annual profit of Kistos is EUR -24.68M.
What is the registered address of Kistos?
The registered address for Kistos is 9TH FLOOR, 107 CHEAPSIDE, LONDON, EC2V 6DN.
What is the Kistos website address?
The website address for Kistos is www.kistosplc.com.
Which industry sector does Kistos operate in?
Kistos operates in the TRUST,EX ED,RELIGIOUS,CHARTY sector.

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