Longboat Energy Share Discussion Threads

[zxie] 02/5/2023 09:47

Termite101 is number one idiot in advfn

[bensdad2] 02/5/2023 09:36

We are coming up to 10% of the shares being traded already this morning. Obviously, there will be lots of holders who are in the red, and taking the chance to sell out on this rise. I feel there is further to go, possibly up to about 28-30p today. If the selling dies, it will move up further.

[ohisay] 02/5/2023 09:32

Cenkos note just out has closing cash end 2023 of £25.7m and then £22.6m end 2024.

They also say ...

Follow On Financing Commitment to Pursue Growth - As part of the investment, JAPEX will provide the joint venture with a five-year, US$100m acquisition financing facility to finance acquisitions and associated development costs. As a result, Longboat will be able to pursue transactions from a position of strength, with counterparties knowing that Longboat has the sufficient funds with which to transact. The facility will be available for drawing for the first three years and will attract a market rate of interest on an increasing scale over its tenor with an initial rate of 6% in the first year and an all-in-cost over the term of less than 10%.
We believe the acquisition financing facility has been structured in such a way that the JV can bring in additional third part debt. Using the leverage generated by the facility, the JV will be able to unlock significantly more financing capacity, and therefor pursue much larger deals with meaningful growth.

[blackhorse23] 02/5/2023 08:48

Switched to GATC , excellent timing

[stockhunters] 02/5/2023 08:45

so over 40p in cash with $16million payment not including the other milestone payments

[sogoesit] 02/5/2023 08:21

Lots…. lots of laughter!

[ohisay] 02/5/2023 07:50

Auctus this morning ..

The transaction values Longboat Energy at US$16-50 mm (£0.22-0.68/sh or 2.2-6.8x the current share price).
Our new Core NAV incorporating the cash injection and the reduced WI in Longboat Energy’s various assets is £0.28/sh.
Our new RENAV stands at £0.88/sh.
Our new Unrisked NAV for Velocette is £0.76/sh.

[ohisay] 02/5/2023 07:25

As I said before like money in the bank investing in LBE at sub 15p ...There is a conference call out tomorrow at 11am.
As a recent shareholder holding just less than 1% of the company Im a very happy bunny this morning,

[ohisay] 02/5/2023 07:23

Absolutely stunning ..this the value of a good Management team and the Japanese have seen that .How on earth was it ever trading at sub 50% cash this last month??

[dunderheed] 02/5/2023 07:19

That came out of nowhere!
They are an excellent management team so hopefully will have a bit more "luck" now?!

[ohisay] 02/5/2023 07:15

That comment hasnt aged well !

[anley] 21/4/2023 17:17

Those guys just ran out of luck but have nowhere to go. If that is the case have another broker who you have to pay fees when all the time you are running out of money!!!!!!!

[ripvanwinkle3] 20/4/2023 09:55

Kistos now picking up assets in Norway ahead of Norway focussed Longboat Energy. So either Longboat thought it was a bad deal, or are poor at making deals. Which of those two is it please?

[ohisay] 23/3/2023 15:07

Auctus Broker comment .
.Longboat has reported its preliminary FY22 results. There were no surprises. The YE22 cash position was ~£12 mm, £3 mm above previous indications. The difference is associated with working capital movement with a payment on the Velocette well due in 1Q23. •
Longboat now expects the monetization of the Kveikje discovery by the end of 2Q23. We value this asset at £0.17 per share (US$13 mm), which would boost the company’s balance sheet and address funding concerns.

[bbm_144] 22/3/2023 08:17

Another institution unloading?

[ashkv] 21/3/2023 07:52

Ouch :(

Statement of going concern

The Directors have completed the going concern assessment, including considering cash flow forecasts up to the end of 2024, sensitivities, and stress tests to assess whether the Group is a going concern. Having undertaken careful enquiry, the Directors are of the view the Group will need to access additional funds during 2023 in order to fund on-going operations and pursue growth opportunities. It is anticipated these funds will be sourced through asset disposals, farm downs, issuing new equity or combination of these actions. If this is not the case then the Group is forecast to have limited or no liquidity at the end of 2023, given continued drawing under the EFF during 2023. The financial statements for the year to 31 December 2022 have been prepared assuming the Group will continue as a going concern. In support of this, the directors believe the liquid nature of the Norwegian asset market combined with historical shareholder support, adequate funds can be accessed if and when required. However, the ability to access funds is not guaranteed at the date of signing these financial statements. As a consequence, this funding requirement represents a material uncertainty that may cast significant doubt on the Group's ability to continue as a going concern. The financial statements do not include any adjustments that would result from the basis of preparation being inappropriate.

[sludgesurfer] 20/3/2023 09:42

Ahh....now I understand the bank analogy.

[terminator101] 17/3/2023 10:45

Jock holiday has been ramping the pants off of this one. Massive avoid, along with all the other lifestyle pish he is paid to ramp.

[bbm_144] 15/3/2023 11:17

One step forward..... two steps back

[avenue_of_revenue] 14/3/2023 16:05

Great find guys. Monetisation of assets update due before month end. BlackRock should be all out soon by then if not already. Interesting few days and weeks ahead. Market cap 6million, cash at hand 9million.