Longboat Energy Share Discussion Threads

[arcteryx] 23/9/2022 07:28

Looking good - Oswig above mean estimates in Tarbert formation..

[dunderheed] 23/9/2022 07:22

Hopefully leading to something material for Longboat?

[ripvanwinkle3] 21/9/2022 15:12

Will LBE be participating in the UK licencing rounds? and should they?

[dunderheed] 16/9/2022 09:53

Not many comments re well result yesterday - slipped under my radar actually.

[arcteryx] 15/9/2022 16:12

Oswig is going to be announced v soon as a success, just you watch

[shortcpx] 15/9/2022 15:56

Auctus note excerpt below

[shortcpx] 15/9/2022 15:56

The Copernicus exploration well on licence PL1017 was dry. The well failed to encounter any effective reservoir. This was a high risk well. • Drilling was much quicker than anticipated. As a result, the cost of the well was materially under budget, suggesting that the balance sheet of the company could be stronger than our current assumption. • We reduce our target price from £1.60 per share to £1.25 per share as we now exclude the value of Copernicus. • Results of the Oswig well are expected very soon. Oswig is a lower risk well compared to Copernicus. The Oswig prospect consists of an HP/HT Jurassic rotated fault block near the producing Tune and Oseberg fields in the Norwegian North Sea, operated by Equinor. Our unrisked NAV for the well is £1.01 per share. • Velocette is expected to be spudded in 2Q23. This is a 130 mmboe prospect operated by OMV. Longboat holds 20% in the well. Our unrisked NAV for the well is £1.38 per share.

[duckdown] 15/9/2022 14:32

As much as I’d like to read something into Helge’s comment, he did say something similar about Cambozola:

“We look forward to updating the market on Cambozola at the end of drilling operations”.

Who knows, but Helge and Longboat will be well aware of market rules.

It is taking a fair bit of time though, so I guess we have to hope they have something to log.

Only time will tell.

[retsius] 15/9/2022 12:07

hiddendepths

Many thanks for info.
Do you think there is a hint in the RNS about the other well?

[hpotter] 15/9/2022 11:51

I'm pretty sure Oswig is a success. They would have RNS'd by now if it was another P&A.

[hiddendepths] 15/9/2022 09:20

Dry wells are often pretty quick if they're vertical and relatively shallow. The 8 weeks was probably to drill and test, or at least log.

ripvanwinkle - that was a great inference. I read the RNS at 7am and didn't twig! You deserve to have bought some at the opening if you did so.

[retsius] 15/9/2022 08:57

How is this well been drilled so fast?

Spudded on 30/08 and to take eight weeks to drill?

[anley] 15/9/2022 08:23

RIP.....I hope you are right but this board needs to be pushed and the company merged with a more successful operation and that I intend to do.

If as you say is correct then they will try and raise fresh capital but they can count me out unless it is so heavily discounted and the board take up a substantial amount.

I await further news..........

[ripvanwinkle3] 15/9/2022 08:08

Buying opportunity today. Helge has given the clue in the RNS. Oswig is a success

[ohisay] 15/9/2022 07:31

Back to 35p then ?

[anley] 30/8/2022 17:39

Well if it does then see my recent post where I mentioned 75p on the basis that they sold up and gave us back our stake.

It could still be a tricky share to value short term and if these 2 drills are OK then shareholders need to push the LBE board hard.....

[chutes01] 30/8/2022 12:59

back to 80p

[chopsy] 30/8/2022 12:39

Nice rise, now drilling two wells simultaneously

[avsome1968] 22/8/2022 09:21

Bit of buying again this morning took a punt in these on Friday for the drilling, short squeeze on shares here.

[chopsy] 16/8/2022 16:09

Downtrend for 2 years. Surely the sellers are out now/soon.

[chopsy] 16/8/2022 16:07

Very poor share price performance, given existing discoveries and current and upcoming drilling. Hopefully we get another discovery and a share price reversal.

[sludgesurfer] 16/8/2022 12:14

At 50%, the hit rate in a mature basin is slightly better than average. Eliminate Rodhette which is worthless and they're below average. The market is placing zero value on the other 2. Personally, I can see why.

[thegreatgeraldo] 11/8/2022 13:43

sludgesurfer20 May '22 - 11:56 - 171 of 171
0 3 0
You know they don't produce anything right?

They're a loss making exploration company with a pretty poor record to date

...50% success rate sounds pretty good to me.....3 discoveries from 6 completed wells..... Rødhette (sounds a marginal discovery), but Egyptian Vulture ("a "material discovery")& Kveikje ( a "significant discovery") .....