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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Longboat Energy Plc | LSE:LBE | London | Ordinary Share | GB00BKFW2482 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-1.95 | -8.97% | 19.80 | 20.50 | 21.00 | 21.75 | 19.25 | 21.75 | 2,903,328 | 16:35:25 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Offices-holdng Companies,nec | 0 | -15.47M | -0.2709 | -0.77 | 11.85M |
Date | Subject | Author | Discuss |
---|---|---|---|
29/12/2023 20:15 | Thanks for posting Ohi | muffster | |
29/12/2023 11:27 | Mentioned yesterday.. | ohisay | |
28/12/2023 17:14 | Nice to finish with a buy at a premium :) | jeanesy | |
28/12/2023 15:45 | any reasonable buying demand and it goes straight up | chutes01 | |
28/12/2023 15:29 | Not much shares in issue Approx 57m in issue Not much free float around I expect | jailbird | |
28/12/2023 14:54 | Is it just me ?... but one thing I've observed is that there's not much stock around . Smallish levels of buying can move the price quite markedly. | ohisay | |
28/12/2023 13:05 | 2024 very much the make or break year for investors, should see development in both norway and malaysia | danmart2 | |
28/12/2023 07:55 | 10 Oil and Gas Companies to follow in 2024https://total-ma | burtond1 | |
21/12/2023 15:40 | Big news from Harbour today buying the Wintershall assets. | sludgesurfer | |
21/12/2023 15:08 | Meanwhile UPL market cap £46m equivalent to 80p per share for LBE. In all honesty who do you think is more likely to get a Sarawak farm down over the line next year? This is the blue sky but to help you sleep nights you have LBE with a 100m$ backstop from Japex who Helge describes as super conservative. You get all this for 10m£ market cap. Its Charlie Munger time here isn't it ? | ohisay | |
21/12/2023 13:09 | By way of further recap, there was a presentation by LBE on their acquisition on Investor Meet Company on 15 September 2023: There are also some interesting posts on this thread from Zengas on 10 November 2023 (see post 668 about the Kertang prospect and by Ohisay on 10 December 2023 in post 750 with a back of the envelope valuation of this prospect) | darcon | |
21/12/2023 13:03 | By way of recap: On 13 September 2023 Cavendish wrote the following about the Topaz acquisition in their research note: "SE Asia Expansion Longboat Energy has entered into a sales and purchase agreement to acquire privately held Topaz Number One Limited (Topaz), increasing its working interest in Block 2A, offshore Malaysia to 52.5% (previously 36.75%). Block 2A contains the giant Kertang prospect, a multi-Tcf structure, which displays clear indicators of gas. The transaction simplifies the block partners, ahead of a well decision and the potential introduction of an additional funding partner prior to drilling. The Topaz team will join Longboat, bringing extensive regional expertise and an established network, accelerating Longboat’s ambitions to build a full cycle E&P business in SE Asia. Significant Potential: Block 2A contains the Kertang prospect, a multi-Tcf, large anticlinal structure with a closure of 200km2. Seismic indicators for the presence of gas can be observed in the area and over the crest of prospect. The low-cost initial work programme will see Longboat mature and derisk the project ahead of a firm well commitment. Accelerating Drilling: The acquisition will increase Longboat’s working interest to 52.5%, providing the Company with a meaningful operated working interest from which it can farmdown. The new partner structure should also both simplify the process of introducing a funding partner prior to drilling and expediate the process towards a positive well decision. Adding Extensive Regional Expertise with a Proven Track Record: To aid in the building of fullcycle E&P Company in SE Asia, the Topaz team, comprising of James Menzies and Pierre Eliet will join Longboat Energy’s management team. James and Pierre bring extensive regional expertise and an established network, with part of their employment incentivised on delivery of a SE Asian production acquisition within the next two years. Consideration Geared Towards Value Delivery: The consideration for the transaction is geared towards the delivery of a number of key milestones. An initial upfront consideration of US$100k is to be satisfied upon completion of the acquisition and is payable through the issue of new Longboat shares. A contingent amount of US$125k is payable in cash or through new shares upon an exploration well being committed on Block 2A or a farm-out. An additional contingent consideration of up to US$3m is payable in cash or through a further issue of shares upon a discovery being made on Block 2A, depending on the resource size and the growth in the price of Longboat shares over a two-year period. A Successful, Supportive Jurisdiction: Malaysia’s E&P industry shares many of the same characteristics as Norway, where a high barrier for entry results in limited competition and a strong, supportive regulator encourages new entrants. The opportunity set in Malaysia is like that of the North Sea 15-20 years ago, where the majors/supermajors are looking to rationalise their portfolios. Despite having a mature oil & gas industry, Malaysia has enjoyed a huge amount of exploration success in recent years. Of the 16 wells drilled in 2022, 10 resulted in discoveries (a c63% success rate), of which eight were discovered offshore Sarawak." | darcon | |
21/12/2023 12:09 | It's nice to see LBE finally announce completion of their Topaz acquisition today. Today's RNS confirms that LBE "now holds an operated 52.5% interest in Block 2A, offshore Sarawak Malaysia, containing the giant 'Kertang' prospect, simplifying the process towards a positive well decision and the potential introduction of an additional funding partner prior to drilling." - Great! In layman speak bring on that farm-down process! I hope that will happen relatively soon. I would hope they've made additional progress since September when they first announced the Topaz acquisition on fine-tuning where they're going to drill, estimates on how much it's all going to cost, etc. As we saw in the webinars and presentations by LBE the Topaz team almost immediately became part of LBE's SE Asian team following announcement of their Topaz acquisition in September. Today's closing was a legal formality. They're now completely incentivised and aligned within LBE's equity structure which also means one less external party (and their lawyers) to negotiate with about introducing LBE's funding partner. Petroleum Economist reported in October: "Shell owns neighbouring Block 3 and [Helge Hammer] said any development of Kertang would benefit from Sarawak’s existing gas pipeline and LNG export infrastructure, particularly as the latter requires fresh sources of feed gas. Longboat and its partners have two-and-a-half years remaining on the licence to carry out further studies. Technical work is underway, and Hammer suggested next year could see the planned farm-down of Longboat’s stake, plus a commitment to develop, followed by drilling in 2025, “although the process could take longer”." | darcon | |
19/12/2023 14:31 | ...Three technical and commercial experts seconded from Japex arrived in October, and a fourth, a reservoir engineer, will join in April. “It’s a very nice mix of people. They’re all integrating really well, and I think the organisation is uplifted and energised. It’s kind of exciting, it’s fresh air,” says Salthe, a subsurface expert whose career has centred on the Norwegian continental shelf and includes stints with Shell, Equinor, DNO and Longboat’s predecessors, Paladin Energy and Faroe Petroleum. The Japanese, Salthe says, bring a new technical and commercial perspective — and crucially, a $100 million financing facility for acquisitions in Norway. “We’re targeting kind of simple development tie-backs, ideally in the 10% to 30% share. We look at what’s available, and we focus on the things we think we can win. We are a small team, so we have to prioritise, and the Norwegian shelf is very competitive at the moment.” “Kveikje is our kind of pride and joy,” Salthe says. “Two of our team members are specialists in this injectite play. There’s a lot of excitement in that area. We have the expertise. We have the data for the area. We have positioned ourselves as best we can, and we’re hoping for more success.” | ohisay | |
16/12/2023 08:30 | Has anyone tried using the Norwegian Petroleum Directorate's new AI tool "Fabriq"? | darcon | |
15/12/2023 06:07 | Yes need both but not much downside there at £10m market cap . Still getting mentions in the press. Traditional PSCs still attracting investors Of the “traditional&r Within Block 2A, the Kertang Prospect lies in 1,000 m of water and comprises a N-S trending anticlinal closure with estimated potential mean prospective gas resources of 8-10 Tcf in multiple stacked Cycle I and Cycle II/III reservoirs. With prospects of the quality of Kertang and a further 10 exploration blocks and two DROs offered under MBR 2023, Malaysia can certainly be considered as an ongoing “Hotspot&rdquo | ohisay | |
14/12/2023 21:30 | I think you'll do very nicely indeed with a spot of luck and plenty of patience | nigelpm | |
14/12/2023 15:03 | My last 30k buy just now ..now back sitting on 500k. Lets see what happens! | ohisay | |
10/12/2023 16:41 | that forecast value, surely it is not as simple as that is it? | jailbird | |
10/12/2023 16:02 | My figuring.. Resource Kertang 8 to 10 tcf gas prospect...OK 9 tcf equivalent to 1500m boe. Assume 50% recoverable...750m boe Assume 40% COS....300m boe. Assume LBE farm down 37.5% for a free carry leaving them 15%. 15% of 300m boe is 45m boe. Gas prospect worth 2 to 3$ per boe say 2.5$/boe. 45m boe is then worth 112m$ or £90m. £90m divided by 57m shares is 160p per share. QED ..Happy to wait to be proved wrong or right ... GLA! | ohisay | |
10/12/2023 10:39 | Offshore Sarawak is rapidly turning into one of THE global O&G exploration hotspots… our turn will surely come… | bumpa33 | |
09/12/2023 01:45 | Like shooting fish in a barrel it seems. What is the possibility now of Kertang not being farmed out next year ? Pretty small I'd say .. Time for the brokers to start factoring that into their spreadsheets then. Its not objectively defensible to ignore it anymore though I guess they may be waiting for some guidance from LBE early next year. Not impossible to conservatively add circa 150p+ per share at a risked farmed out level I'd say...based on my figuring . | ohisay | |
08/12/2023 20:06 | Excellent post Zengas, thank you | euclid5 | |
08/12/2023 15:31 | great post ZG,, many thanx for sharing your experience with those of us still learning how to make LT investing work for us,, your wisdom is much appreciated by me :-) :-) Cheers Wan :-) :-) | wanobi | |
08/12/2023 15:28 | Simply put at 18p this is fundamentally cheap on many levels. | nigelpm |
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