Longboat Energy Share Discussion Threads

[swanvesta] 29/11/2023 09:55

Similar large trades on 21/11. Sets of three.

[someuwin] 28/11/2023 20:45

...Buys or sells though? On LSE and ADVFN those three trades are reported as just after 10:53. i.e just at the time the share price started ticking up. So I'm guessing buys?

[zengas] 28/11/2023 19:25

3 x 500k trades at 17.6p from 10:30am reported late out of total volume of just under 2 million.

[sogoesit] 28/11/2023 18:02

Just caught up with the presentation... looks "all go" in SE Asia with the newly "acquired" management.
Of course, this is a "traditionally", maybe conservatively, managed O&G company so I expect progress to be measured... and probably the reason the share price is also "measured".
Something AIM "punters" might not like (the classic short-termism of AIM) but, with patience, a lot of long term upside here imv.

Let's see what 2024 brings.

(Have already seeded this, and accumulated once, leaving more room to accumulate as events unfold).
GLA
PS. Looks like Velocette was more encouraging for the block than previously thought too.

[basem1] 28/11/2023 16:23

Yes me too I do not see the problem. If you set a limit order it often gets filled. Just put 19p and wait I do it all the time

[arab3] 28/11/2023 16:12

its iii basem

[basem1] 28/11/2023 14:59

Who is your broker arab just out of interest ?

[sludgesurfer] 28/11/2023 14:50

Bumpa...whilst I agree these are one one the "good guys" when it comes to E&P and having done pretty well out of FPM, I like the management and don't think this is being run as a lifestyle company like some....I don't ascribe any value to anything they've found thus far and neither does the market.

[arab3] 28/11/2023 14:36

i like to press a button to buy or sell, that's simple

[basem1] 28/11/2023 14:28

Either do a limit order at 19 and hope it gets filled or go Fill and Kill and the market will fill it. Simple why the drama ?

[arab3] 28/11/2023 14:23

can only buy 1k

[basem1] 28/11/2023 14:07

You could try a limit order at 19 but it is about to go up again with the next buy

[basem1] 28/11/2023 14:05

Got 40,000 earlier

[arab3] 28/11/2023 14:04

anyone manage to buy online ?

[someuwin] 28/11/2023 12:37

...

Reflections on South East Asia

"As illustrated by the recent acquisitions in Thailand, Malaysia and Indonesia by Valeura Energy, Jadestone Energy and Criterium Energy, there are many producing assets for sale in South East Asia that are suitable for junior E&Ps. Many large companies have been selling small or mature assets to redeploy capital in more material opportunities or fund share buybacks and dividend distributions. The recent acquisition of Hess (producing ~60 mboe/d in the region) by Chevron, who lost its key assets in Indonesia and Thailand, might lead to further asset divestments in the region. Malaysia Sarawak deep water is one of the bright spots for continuous exploration in the region with multiple recent discoveries by Petronas and Shell. Longboat’s Kertang prospect on Block 2Q is located offshore Sarawak."

[someuwin] 28/11/2023 12:13

Auctus Advisors...

LONGBOAT ENERGY PLC (AIM: LBE)

November 28, 2023

Share price: £0.18 Target: £0.60

All eyes on 2024

• With the acquisition of interests in Sygna and Statfjord Øst expected to complete in January, the process to establish a stable wellfunded producing business in Norway is almost complete. FY23 production at Sygna and Statfjord Øst net to Longboat Norge is ~250 boe/d.

• The acquisition of 49.9% of Longboat Norge by JAPEX in 2023 provides low cost capital and access to a strong balance sheet to develop further the Kveikje area and make acquisitions at no further dilution to Longboat plc.

• With the entry in Malaysia and the acquisition of Topaz, 2024 is expected to be an important year with (1) a significant increase in production at Sygna and Statfjord Øst early in the year when all wells will be brought on stream (we assume 600 boe/d net to Longboat Norge), (2) high impact drilling at Lotus (Norway), (3) progress in farming out the giant Kertang prospect in Malaysia and (4) potentially the acquisition of producing/development assets in Norway and/or South East Asia. We understand that Longboat is actively pursuing opportunities with multiple counterparties. We understand that Longboat is already in discussions with multiple counterparties.

• We re-iterate our target price of £0.60 per share.

[bumpa33] 28/11/2023 12:02

Perversely they’ve drilled their way to far more success - albeit qualified - than a slew of other juniors (probably most) that rely on a variety of PR tactics to pump their share price in order to disguise the lack of pumping anything out of the ground.

Depending on one’s view that’s either a positive or negative aspect of this company.

[sludgesurfer] 28/11/2023 11:42

They will however need cash in 24/25. Presumably this will come from a farm down in Asia, additional production bought in the North Sea (with associated drawings on their debt facility) or a fund raising. Thus far, they have seemed unable to drill their way to success.

[talkman2] 28/11/2023 11:03

Very impressive . The share price is a gift at these levels . Bought another 50,000.

[ripvanwinkle3] 28/11/2023 10:46

Good presentation. They have positioned themselves well. I expect the share price to be in the £ not pence as acquisitions are made and the drilling of Kertang approaches

[trader465] 23/11/2023 17:59

You could always invite London from PXC thread to invest 🚀

😳

[zengas] 23/11/2023 14:08

It's a case of just waiting for value to unfold. At this price it's still overlooked by many and too cheap at todays £10.3m.

Meanwhile it's worth watching investor excitement on UPL (mentioned earlier).
No PSC yet for Sarawak SK334. No 3D which will be needed at some point. No estimate of recoverable resources. No other assets of strength and no production. Little to no cash and at todays 2.9p has a m/cap just shy of £35m.

LBE equivalent share price to match UPL is 60p if you were solely basing on the 12,000 KM2 SK2A for LBE versus UPL on SK344 which so far is only a share in a study.
Discoveries, 2P/2C and Production here and forged significant deals here and in the previous two companies Salamander and Faroe both sold for circa $900m each (EV)so for me this offers the lowest risk profile when shopping for value and upside and more deals in the pipeline.

Huge Kertang prospect and 2 others covered by 2,900 km2 3D with over 6,000km2 on the block and 9 TCF estimated recoverable from the main Kertang prospect alone. Upl haven't even issued a direct figure - plus of course no 3D.