Longboat Energy Share Discussion Threads

[swanvesta] 29/5/2024 07:52

New CEO clearly not going to make excuses for the previous one?

[cashandcard] 29/5/2024 07:48

This is a brutal update, it really makes the outlook cloudy.Cash

[hubs] 29/5/2024 07:15

That sounds very optimistic Katsy! Good luck.

[katsy] 29/5/2024 07:11

Not the news we were expecting. Was waiting to here of production level's nearing 1000bopd not nearer 400bopd. Oh well another buying opportunity will present itself.

[cashandcard] 14/5/2024 13:48

Great prospects, I do hope they get a move on with FO process and rig contract in place.Cash

[jailbird] 13/5/2024 15:12

Nice info Zengas

[zengas] 13/5/2024 13:46

Mubadala off Indonesia excited about making a giant and game changing 2TCF gas in place discovery in water depth deeper than Longboats Block 2A which is in water depth ranging from 100 - 1400m with the proposed Kertang well location at 1,000m.
Kertang 9 TCF mid case recoverable estimate.
Multiple follow on structures.

Will be interesting once we gain a farm out from our current 52.5% to accompany us with Petronas and Petros

Updated 13 May 2024, 11:01

United Arab Emirates operator Mubadala Energy confirmed it has made a giant gas discovery with potential for more than 2 trillion cubic feet of gas-in-place with its Tangkulo-1 ultra-deepwater exploration well on the South Andaman gross split production sharing contract offshore Indonesia.
Tangkulo-1 was drilled to a depth of 3400 metres from a water depth of 1200 metres, just a few months after Mubadala made a major discovery with its Layaran-1 well, also on the South Andaman PSC. The operator earlier said that Layaran has the potential to host an estimated 6 Tcf-plus of gas although industry sources have suggested the figure could be higher.

"When added to our recent success at Layaran-1, this game-changing discovery promises to transform Indonesia’s and Southeast Asia’s energy landscape and demonstrates that South Andaman is one of the world’s most exciting energy plays," commented Mansoor Mohammed Al Hamed, Mubadala Energy chief executive.

The Tangkulo-1 well encountered an 80-metre gas column in a good quality Oligocene sandstone reservoir that was confirmed through an extensive data gathering campaign that included obtaining a full core of 72 metres, wireline logging, sidewall core, pressure and fluid sampling.

Utilising a new drill stem test (DST) design, the wildcat flowed 47 million cubic feet per day of "excellent quality" gas and 1300 barrels per day of condensate. Mubadala noted that, although testing was constrained by testing facilities, the estimated well capacity is between 80 and 100 MMcfd of gas and more than 2000 bpd of condensate.

Unlocking further potential
In line with company’s gas-biased strategy, Tangkulo-1 is an important pillar in the cluster’s development story, with the discovery unlocking further potential in the southern part of the block and indicating an additional multi-Tcf of prospective gas resources in nearby structures.

On completion of the Tangkulo well, the West Capella is lined up to drill an appraisal well on Layaran.
Mubadala operates the South Andaman PSC with an 80% working interest and its sole partner is UK independent Harbour Energy on 20%.

[chutes01] 10/5/2024 21:19

That will be the icing, the foundation will be a larger prod deal in Norway, building on 1k Bbls/day deal secured at Statfjord
It could come at any time now, following the Director re-shuffle.

[zebbo] 10/5/2024 17:31

Sarawak, Malaysia farm down/in news will see this 40-50m cap. Im happy to wait 6 months, maybe sooner

[chutes01] 10/5/2024 10:36

Beautiful chart ready to take off

[euclid5] 02/5/2024 16:00

would be better if the bod's took 50% of their alary i shares, as they are so cheap and expect them to re rate several times over within the next 12 months. That will be slightly more convincing, that they expect a strong re rate in the future

[jailbird] 02/5/2024 13:14

Been buying recently but holding from adding more as this keeps falling on L2 buying , even though bid is still 2v1Wait for it to turn

[katsy] 02/5/2024 09:43

looks like somebody is liquidating their stock. 250k sell today on top of 175k yesterday.

[katsy] 01/5/2024 11:54

We should get news of daily production reaching 700-800bopd in May, and hopefully 1000bopd in June.

[chutes01] 01/5/2024 11:36

Indeed
Will we see 40p this month

[zengas] 01/5/2024 11:01

One way of looking at this is we expanded the operations to S.E Asia and a larger team to manage that and take on acquistions as seen in the recent annual report.

They talked of cost cutting.

2 directors are standing down and won't be replaced in the immediate future.

Brent Cheshire £70k.
Jorunn Saetre £50k.

Nick Ingrassia was on 230k and moves up to CEO replacing Helge Hammer who was on £300k.

The current Chairman of LBE is on 95k.

Helge leaves to become chairman of LBE/Japex - will there be a pay cut to a more modest Chairman salary or still remain on £300k ?
Either way, Helges salary would be 49% met by the Japex ownership portion of the JV so if he remains on £300k this would be a net cost to us of £153k saving LBE £147k.

Cost cutting of around £200k at least to perhaps £300k depending on what Helges salary at LBE/Japex is.
Also if Nicks salary is not as large in taking over as the previous CEO it might increase the savings.

[ripvanwinkle3] 01/5/2024 07:49

chutes you appeared to call this two weeks ago with your "bye bye Helge"

[bumpa33] 01/5/2024 07:38

Helge moves over, Nick takes over CEO - Malaysia moving more into focus. Good to see imo, think this marks a step change in dynamism…

[chutes01] 30/4/2024 10:58

Additional Prod deal news due, should see a significant re-rate here, ahead of free carry drills ahead.
£10 Mio gift

[ohisay] 29/4/2024 12:56

Look at the wording here .

In Norway, we are focused on delivering a transaction to add material production volumes to the relatively small initial production position we acquired in January 2024 in the Statfjord Satellites.
We will make use of the Acquisition Financing Facility provided by JAPEX which will assist Longboat JAPEX's participation in NCS sales processes.

Then you have the 15% free carry on Lotus in Q3 and the icing on the cake at Kertang .This is a very investable company at this market cap.

[katsy] 29/4/2024 12:46

Perhaps some money from UPL coming here. Valued at 3 times more than LBE despite a fall of 25% today.

[chutes01] 26/4/2024 19:17

A few bargains around but this is just too cheap
Expect a bonza deal soon ££

[katsy] 26/4/2024 16:34

I was eyeing buying 50k at sub .165p but it would've meant selling another stock, but that stock has just woken up this week, so I need to let that role. This is under £10m market cap, ludicrous valuation.