Longboat Energy Share Discussion Threads

[arcteryx] 17/6/2024 07:30

Considering everything Helge ever did in Norway sent the share price south, I hope this major change in direction will also be reflected in a major change in direction of the company's fortunes!

[bumpa33] 17/6/2024 07:26

Let’s see if the market was indeed short…

[arcteryx] 17/6/2024 07:22

They could have raised funds to continue in Norway, but as a holder I'm supportive of this move. Predicted by Zengas I believe.
Now we have some certainty. Bye bye Helge - you won't be missed.
Kertang's a monster.

[bumpa33] 17/6/2024 07:20

Well, I’m chuffed we’ve dumped this albatross and no imminent fund raise, along with near term news on the horizon of the kertang prospect and additional new acreage.

[jungmana] 17/6/2024 07:20

Best news for us imo. Yes would have loved to have some production but fully focused on Malaysia is excellent with the financial worries all gone.10p+ today imo

[bumpa33] 17/6/2024 07:10

Norway divested.
Cash until end of Q1 2025
CPR for Kertang end of June
Farm Out H2 2024.
New acreage awarded for shallow waters.


No fund raise.

[arcteryx] 17/6/2024 07:09

Exit Norway.
No dilution.
Focus on where the vlaue is.

[ohisay] 16/6/2024 03:43

Keeping busy ..

[bumpa33] 14/6/2024 14:21

As they’re no strangers to the area, wonder if JAPEX might be interested in our Malaysian assets, notwithstanding the less than stellar start to life for the Norwegian JV!

[zengas] 14/6/2024 12:38

My $3/boe is an in the ground figure.

If we were to be carried to first gas, then i'd expect $6-$7/boe at least particularly as these would be early long life bls.

[divmad] 14/6/2024 11:36

Zengas, do your numbers for Lbe after farming out a piece of Kertang make allowance for its full share of development costs to first gas?

[bumpa33] 13/6/2024 13:11

and now just two weeks to the AGM, and an update on proceedings I believe promised by/before then…

[bumpa33] 13/6/2024 12:49

with hesitation this time, but form suggests tight mkt with no natural seller here - quote for 500k is 6.14 bid, 8.99 offered…!

[ohisay] 12/6/2024 02:03

Good research Zengas !

[zengas] 11/6/2024 21:53

Definitely nothing to do with EMEs Topaz, Cash.

[cashandcard] 11/6/2024 20:59

Zengas,Great post.Truly hope it's got no connection to EME Topaz prospect in the South China sea, which they are about to lose.Cash

[zengas] 11/6/2024 20:16

New company set up.

Longboat bought out Topaz Number One limited that held 15.75% of Block 2A in Malaysia. It's still active as a company with Helge Hammer, Pierre Eliet, Jonathan Cooper as current directors and a notification as Longboat Energy having control on 3/1/2024.

'Longboat Energy 2A limited' was set up on 16/1/23 and 1 month later was awarded 36.75% and operatorship of Block 2A Malaysia.

Nick Ingrassia our CEO is director in both Longboat Energy PLC and Longboat Energy (2A) limited.

Now a new company has been set up at Companies house just 8 weeks ago on 7/4/24 called 'Topaz Energy Limited'. with Nick Ingrassia as director and Longboat Energy PLC as having control.

I'm just wondering could the new company be about to or expecting to be awarded assets in Malaysia at any time just as they did with forming LBE 2A Ltd one month before their 2A interest and operatorship was awarded.

Worth noting again what JM said then in the 11th April presentation if you listen (see my post 6/6/24 13:48 ) 'they offer some of these to you for development at no cost if there is a sensible, credible development plan'. He said back then in the 11th April presentation they had applied for offshore Sarawak. So have these already been offered to us as he said then, hence the new company recently formed to take these assets.

Taking into account JM saying that on 11/4/24 We have applied for some of these - so how long before this interview on were they negotiated/applied for January, February, March ???

Why bother setting up a new Malaysian subsiduary company on 7/4/24 ?

I wonder why call it Topaz Energy limited and perhaps could this be a precursor at some point to being known as Topaz Energy PLC if we were to exit Norway?.

[bumpa33] 10/6/2024 08:05

Well, no offer at 7.5 this morning. Cheapest offer 7.8

[arcteryx] 09/6/2024 08:40

ohisay it doesn't look like a company about to go under and a bunch of people to lose their jobs