Longboat Energy Share Discussion Threads

[sogoesit] 17/7/2023 11:17

... "go figure"...
Yes, indeed but the problem is that cash is measureable whereas risk is intangible.
Take the Velocette well for example (i) there is risk to cost, (ii) there is risk to discovery and (iii) there is risk to economic volume discovered.
The risk to volume discovered here is magnified because LBE will be rewarded in the third ($30m) tranche on a "...sliding scale applied to the gross resources approved for development..."
Can we figure out these risks?

Of course we all hope that the reward on success will be commensurately skewed to the upside... but I certainly don't know. The only person(s) who can figure this out are Mr Market and they probably will get it wrong?

[ohisay] 17/7/2023 10:47

Seems nobody has picked up the big discovery next to our Kveike /Lotus assets last week.



Preliminary evaluation of comprehensive data, including cores and fluid samples, acquired from the discovery well and a follow-on extended sidetrack indicates gross recoverable resources in the range of 120-230 million barrels of oil equivalent (MMboe) on a P90-P10 basis.

At 175 MMboe, the mid-point of this range, Carmen ranks as the largest discovery on the Norwegian Continental Shelf since 2013.

Carmen is DNO’s sixth discovery in the Troll-Gjøa area since 2021 and is located close to existing infrastructure with clear routes towards commercialization. The other discoveries are Røver Nord, Kveikje, Ofelia, Røver Sør and Heisenberg.

Cenkos mentioned it this morning in their note,

Significant Discovery Adjacent to Kveikje – DNO has made a significant gas and condensate discovery at the Carmen prospect in the Norwegian North Sea. The discovery ranks as one of the largest discoveries on the Norwegian Continental Shelf for the past ten years, containing an estimated 120-230mmboe of gross recoverable resources. Significantly for Longboat, Carmen lies adjacent to both the PL293B licence, containing the Kveikje discovery and PL1182 S, containing the Lotus prospect.

Incidentally Cenkos has year end 2023 cash at LBE of £9m cf current mkt cap of £16m ..go figure.

[danmart2] 17/7/2023 09:12

Fantastic RNS

[ohisay] 14/7/2023 10:57

Took another 100k today.
Technically overbought early yesterday but no doubt where its going in the next few weeks.

[city1911] 13/7/2023 18:42

Bound to happen at some point. Can't go up in a straight line continuously.

[jeanesy] 13/7/2023 18:29

plenty taking profits today it seems

[danmart2] 12/7/2023 20:16

The market cap is still on the low for the potential on the drilling and other assets

[chutes01] 12/7/2023 14:56

amazing how this was so bombed out, albeit after some expl success, and how a bit of deal making can be transformational
otherwise a few fire sales of assets would have been required
Norwegian oil is the plae to be, others can learn from Helge.
Velocette is in for free now, a proper bonus drill upon us, if it comes good, this will ignite.

[sogoesit] 12/7/2023 12:15

Accumulated on news of management purchases.
hope this bodes well. Near term target 40p.
GLA

[not guilty] 12/7/2023 09:37

Looking primed for a breakout. Steady as she goes captain

[danmart2] 11/7/2023 21:33

Not long to wait then, thanks for the info

[chutes01] 11/7/2023 14:56

Velocette is a bit of a bonus right now, however if it does come in, whoooosh.

[ohisay] 11/7/2023 14:39

That's what Helge said.

[not guilty] 11/7/2023 14:04

I'm sure I've seen spud 20/7/2023 to 20/8/2023. Lovely set up for some news flow

[bumpa33] 11/7/2023 11:31

Late July, early August for Velocette spud I thought the company stated?

The reigns maybe coming off the share price with 30’s incoming…

[chutes01] 11/7/2023 11:15

35p in sharp order

[danmart2] 11/7/2023 09:45

Still no exact date or month for the next drill?

[jeanesy] 11/7/2023 07:47

Hi cmb yes i finally took a small position here a couple of days ago

[not guilty] 11/7/2023 07:17

Good to know it's the directors who've been pushing the price up the last few days.

[2cmb] 10/7/2023 11:11

Jeanesy, i hope you have bought in here. Plenty of meat on the bone here.

[jeanesy] 10/7/2023 09:06

Doesn't seem to take much buying to move this up this morning .

[bumpa33] 10/7/2023 09:00

Breaking out and threatening that sweet spot on the chart between 28 to 40..

[howie26] 09/7/2023 20:42

Plenty left in the tank here and pending news flow. Looks also that the bigger holders are still stake building

[not guilty] 09/7/2023 13:11

Looking primed for a run up next week. Huge gap to fill and a bull flag that will slap your face off. GL

[bbm_144] 07/7/2023 17:44

Certainly seems to be gaining a little momentum here.