Longboat Energy Share Discussion Threads

[anley] 21/2/2023 15:39

The Egyptian Vulture licence did not sound too positive with parties not being aligned!.........and Helge looked drained and tired which is the worst kind of frame to be in.

Someone will pick up the pieces - some day and be able to get my shares out of the sin boz.

[nigelpm] 21/2/2023 14:35

My question was on the "dismal share performance and risk of equity dilution"

which I felt wasn't answered well and didn't even mention the equity part of it - the look on their faces wasn't great.

[ohisay] 21/2/2023 12:22

It was encouraging for Q1 I thought,and with market cap at cash an easy hold for me.
At the end of the day I trust Helge to come good on his word.

Easier for me to say I know as I was not in at the IPO.But there is not much downside at these levels.
I note he said they might well farm down the Malaysian asset nearer the well date.

[sogoesit] 21/2/2023 09:58

Anyone at the Investor Meet?

Notes from meeting:
- M&A strategy
- #800m RBF (currency?) - answered as NOK (not an RBF but an Exploration Finance Facility (EFF))
- "Fully funded"

- Malaysia WP - 3 years studies then 1 well
- Velocette only well this year... otherwise M&A
- M&A to involve selling whole assets and/or farming down (Kveijke); they're not sure about what to do with Lotus

- Helge is unhappy with share price performance (as well as other participants!!) >> M&A monetisation

- Way forward > Grow Production thru an M&A deal (sense of urgency!)
- M&A focus is Norway
- Hint at an announcement "in Spring"

[ohisay] 16/2/2023 07:34

Excellent risk / reward here IMV..

[sogoesit] 15/2/2023 12:05

Looking interesting long on a 5 to 10+ year view.
Awaiting an entry point (per debate on the thread here about funding strategy).
GLA

[anley] 15/2/2023 12:05

Move on one day and they are off to Malaya............as well as trying to sell a few assets.

We shall have to wait until March for a full explanation.

[anley] 14/2/2023 17:08

Blackrock have started to sell down and in my estimation will keep the market with stock as and when.

How deep is your pocket OHISAY as they are the largest holder once with 14.9 and now slowly down to 12%.

[bbm_144] 13/2/2023 18:10

Until they say what they are planning and, more importantly, how it will be funded, the sell off will go on. As some have said a placing at these prices would be madness...... Wouldn't it??

[ripvanwinkle3] 13/2/2023 11:54

Fund raise at these levels makes no business sense and I think it's a complete red herring

[ripvanwinkle3] 13/2/2023 11:52

Jadestone got 6000bopd for around 7million GBP in Malaysia. So there should be plenty of options available within existing cash resources of 9million.

[duckdown] 10/2/2023 11:20

Not sure they’d get much with existing cash resources to be honest. Kveikje is about the only collateral they have so let’s hope they use it wisely. Issuing equity at these prices would be v bad news.

[arcteryx] 10/2/2023 08:41

The Kveikje discovery seems pretty well understood, although it could well be that they are planning to use existing cash resources to buy into Malaysian production assets

[duckdown] 09/2/2023 16:55

Swap with what though arcteryx?

It would be disastrous to dilute at these levels but do their Norwegian assets hold enough value to swap at the moment without appraisal?

[anley] 09/2/2023 16:33

OHISAY.....on what basis are they undervalued when the creditors are all secured and the shareholder is not?

[ohisay] 09/2/2023 15:43

I've been buying more ..just really undervalued.

[arcteryx] 09/2/2023 14:57

So Malaysia here we come. No dilution. If Longboat can show they can discover on the cheap in Norway, and swap into high margin barrels elsewhere, this would finally vindicate their strategy.

[bbm_144] 08/2/2023 22:28

Until they say how they will be funding these plans, the assumption will be massive dilution, and the share price will continue to bomb. Not clever management.

[sludgesurfer] 08/2/2023 18:45

These are the Norwegian sector specialists, trying to be the next Faroes. Focused on the Norwegian sector...sector specific expertise...etc...No...waitThat's not worked out......let's focus in South East instead

[anley] 08/2/2023 17:00

Indeed but they wont give in and seem to try everything that will keep them in a job.

The only use for the company is its London Stock Exchange quotation but not its broker who is Stifel.

My stock is in the sin bin and it can stay there.

[bbm_144] 08/2/2023 16:36

Single figures on way....... 3 years of heading south.

[grannyboy] 07/2/2023 08:11

Hahaha.. "Response to market speculation."

Is that all the PR people could come up with!

Not instilled the feelings of FOMO in me with that little gem.

[2dinvestor] 07/2/2023 07:53

Where is the money coming from, do they have it already, or will they need to go to market?