Longboat Energy Share Discussion Threads

[ripvanwinkle3] 01/12/2023 12:28

SVM are listed as holding 8.6% of the shares on the LBE website. Now gone. Kudos to whoever it was that said recently they thought there was a drip seller keeping the share price subdued

[jailbird] 01/12/2023 12:11

I always take target prices with a pinch of salt Some notes repeat the same price for 2-3 years even if the company is growing.So What is the target date for this target price of 60p

[darcon] 01/12/2023 10:39

Auctus's Friday update on LBE:

"Longboat Energy (LBE LN)C; target price of £0.60 per share: 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 well-funded 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."

[sogoesit] 30/11/2023 11:02

Good overview @Darcon,

I think the surprises will come in your "Other" category especially in production acquisitions where, over the last year or so, they have said they are actively working on these types of deals but, understandably, they take time to come to fruition and are unpredictable for closure.
Perhaps, given the regional deal-making activity cited at 28/11 presentation, this may come sooner from SE Asia than Norway (?).

[someuwin] 29/11/2023 13:02

Link to yesterday's excellent Investor Meet presentation. Great overview of why LBE is such a bargain at these low levels.

[ripvanwinkle3] 29/11/2023 11:15

Correction....I believe it was around 15% of the shares Blackrock held, around 8.3 million shares.
But the upshot is that this institutional behaviour ('forced' selling) completely trashed the SP, which has provided this rare opportunity for us average joes.

[ripvanwinkle3] 29/11/2023 10:44

I don't know about daily movements but the trend for this share has to be northwards from these levels. Mcap is same as when they launched in Nov 2019, when they had no assets and 9 million in bank.

LBE ended up down here due to their largest shareholder Blackrock (owned over 15 million shares) suddenly deciding to exit, not long before the JAPEX JV announcement earlier this year. They made a huge loss, after buying at one pound, and again at 75 pence. Crazy really.

So much to play for now. It's almost like two companies, one in Norway and one in Malaysia.

Agree with others that new man James Menzies bring a lot to the table and tells and sells the story way better than the Faroe lot have done thus far.

[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.