Longboat Energy Share Discussion Threads

[hazl] 04/5/2023 11:35

Chartwise...you might be right.

8- (

[volsung] 04/5/2023 11:22

Prob needs to retrace a bit hazl

[hazl] 04/5/2023 10:44

Sorry guys....market seems to be unsure today.

This has plenty of potential though, I feel.

[volsung] 04/5/2023 10:05

Bought a few on the dip

[the_fiddler] 04/5/2023 09:59

Yup. MMs flushed out the early profit takers. Sit back and let the real rise begin. As I said wake me up when we go past 50p

[hazl] 04/5/2023 09:22

Ah the positive trades delayed...now appearing.

[hazl] 04/5/2023 09:19

Masahiro Fujita, President and CEO of JAPEX, commented:

"JAPEX is very pleased that we have formed the partnership with Longboat for a Norwegian E&P business. We see a very strong alignment in the business expansion strategy in Norway and believe the combination of the Longboat team's significant experience and expertise in Norway and JAPEX's technical and financial competence will be very beneficial in pursuing such a strategy.

[hazl] 04/5/2023 09:02

Only 56.67m shares in issue which adds to the volatilty I am afraid.

Both ways!

[hazl] 04/5/2023 09:01

'Arctic Oil Drilling Plans Revived in Norway as Priorities Change', according to Bloomberg.

May 3rd.

[hazl] 04/5/2023 08:55

It will be interesting right through the day most likely.

We will see.


IMO

[hazl] 04/5/2023 08:47

Now FILS have few left then that ought to help our case.

IMO

[hazl] 04/5/2023 08:46

Basically there are quite a few buys labelled as sells .

[hazl] 04/5/2023 08:45

The new offer seems to be around the 25.20 mark so columns are out of kilter in my opinion.

[hazl] 04/5/2023 08:44

I see this as fitting in very nicely with what Norway are doing.

[hazl] 04/5/2023 08:40

I only noticed a few days ago of Noway's move so this is a great thing for Longboat, in my opinion.




'The joint venture will be renamed Longboat JAPEX Norge AS ("Longboat JAPEX" or the "Joint Venture"), with a goal of building a leading Norwegian-focussed independent. '

[hazl] 04/5/2023 08:37

Helge Hammer, Chief Executive of Longboat, commented:

"Longboat is delighted to have found a strong and complementary strategic partner in JAPEX. JAPEX has been looking for the best way to enter Norway and identified Longboat as an excellent match to reach its strategic objective.

"The Longboat team has significant experience and expertise in the Norwegian E&P sector and has strong local industry relationships. JAPEX is a long-established E&P company with a strong balance sheet and significant worldwide technical competence including in the North Sea. By joining forces, we will have greater opportunities and strong financial backing to pursue them. We believe that this agreement has laid the foundations for exciting growth in the coming years.

"We are also pleased to be in a strong position to continue to pursue our interests in the Kveikje area as this development project is being matured and additional value created.

"The team looks forward to delivering production and reserves growth to create value for shareholders both in Norway with JAPEX, but also in Malaysia following our recent entry into the region."

[hazl] 04/5/2023 08:35

cash investment on completion of US$16 million;
-- a contingent consideration of US$4 million, payable on successful
completion of a production acquisition currently under review;
and
-- a further tranche of up to US$30 million, payable on a sliding
scale following a successful discovery on the Velocette exploration
well due to spud in Q3 2023.


JAPEX to provide the Joint Venture with a US$100 million Acquisition Financing Facility:


-- five-year facility to finance acquisitions and associated development
costs in pursuit of the Joint Venture's strategy; and
-- interest rate based on a sliding scale with an all-in cost over
the term of <10%.


JAPEX, founded in 1955, is a public company listed on the Tokyo Stock Exchange (m/cap US$1.8 billion) with proved reserves of 159 mmboe (2022/3) and production of 58,500 boepd (FY22). JAPEX's largest shareholder is the Japanese government (35%) via the Minister of Economy, Trade and Industry of Japan.

Longboat JAPEX will pursue a growth-led strategy to create value predominantly through the acquisition of development projects, growing 2P reserves and reaching a significant production level within three to five years. The Joint Venture will continue to target the drilling of one to three exploration and appraisal wells per year.

[hazl] 04/5/2023 08:31

Longboat Energy plc

("Longboat Energy", "Longboat" or the "Company")

Transformational Investment to Create a Norwegian Joint Venture with JAPEX

Longboat Energy, the emerging full-cycle E&P company, is pleased to announce that it has reached agreement with Japan Petroleum Exploration Co., Ltd ("JAPEX") to make a significant investment into its Norwegian subsidiary, Longboat Energy Norge AS ("Longboat Norge"), to form a joint venture.

The joint venture will be renamed Longboat JAPEX Norge AS ("Longboat JAPEX" or the "Joint Venture"), with a goal of building a leading Norwegian-focussed independent.

Transaction highlights

Cash investment of up to US$50 million for 49.9% of Longboat JAPEX comprised of:

[hazl] 04/5/2023 08:30

Get the few out from before.

This is a very interesting stock suddenly.

[hazl] 04/5/2023 08:28

'Norway wants to secure position as Europe’s top gas supplier'.

Bloomberg.

[hazl] 04/5/2023 08:24

Now what seemed to be a distressed seller out.

[hazl] 04/5/2023 08:21

Norway takes an active role in its industry and is the top owner of the country's biggest bank, DNB (DNB.OL), telecoms operator Telenor (TEL.OL), and oil company Equinor (EQNR.OL), among others.

The gas pipeline network is owned by Gassled, a partnership set up in 2003 by the oil companies that were producing gas offshore Norway at the time. It cost billions of dollars to build.

[the_fiddler] 04/5/2023 08:18

No reason to get excited. Wake me up when we hit the consolidated average broker target of 78p that was released after last RNS.

This is going to go way higher this week.