Longboat Energy Share Discussion Threads

[talkman2] 18/6/2024 09:56

When is the AGM ? Should be comfortably over 20p by the end of the month. This near term development of gas funds sounds very intriguing and exciting.

[zengas] 18/6/2024 09:55

Jungmana

Both Cos offer good upside if successful but i have my cash steered to where it might offer the best returns on a success case plus something to underpin the investment which i've always seen as a must.

UPL 1.33 b shares in issue (with outstanding warrants circa 1.5 billion f/diluted) + $4.6m cash. M/Cap @ 3p = £40m.

LBE 57.11m shares + $2.5m cash. M/Cap @ 16p = £9m.

There's a glaring differential in upside potential for every $100m/£78m (£1/$1:28) of value created.

UPL = 5.87 p per share (5.2p f/diluted).
LBE = 136.5p (will stick my neck out and project us at future 100m shares = 78p).

Both chasing $500m+ worth of future value creation potential on a success case.

LBE have now been awarded a cluster of near term development discoveries (subject to final terms) which will underpin a valuation/fall back option at this £9m m/cap level.

[talkman2] 18/6/2024 09:54

I agree. Took a total bath with Deltic
Feared the worst here but yesterday’s news was better than I hoped. Now divorced from Norway ( and it’s liability’s which could have sunk the company)no dilution , cash and a new focus in an are which had fantastic potential. Should be some very exciting news coming up. Great opportunity and the share price is still cheap as chips .

[jungmana] 18/6/2024 09:12

If I was him, I would . Change in focus to Malaysia is the future.The NS is dead for small caps

[arcteryx] 18/6/2024 09:07

I thought it might be Mr. Bruce piling back in!

[ohisay] 18/6/2024 09:06

Spare a thought for Alistair Bruce ..choking on his cornflakes this morning .

[ripvanwinkle3] 18/6/2024 09:01

Seems like big buyers aren't waiting for the AGM!

[jungmana] 18/6/2024 08:56

Typo, 3D I meant

[jungmana] 18/6/2024 08:43

Upl have no psc or 2D ( that alone would cost $10 + million) too.

[jungmana] 18/6/2024 08:41

On block 2A alone this should be at least 60p compared to peers. Not to mention the new exciting DROs. Looking forward to the agm.A 100p anyone in a few months?

[stockhunters] 18/6/2024 08:41

if upl is valued 6x higher with no cpr then it gives you the scope of what is on offer here

I also think many have missed just how quickly the new board cut dead assets and adjusted their focus, confident management

[arcteryx] 18/6/2024 08:33

It's crazy how many shares you can pick up for next to nowt at these levels. Compared to some of my previous purchases that is! Still - very happy to have the chance to average down!

[ripvanwinkle3] 18/6/2024 08:29

Hopefully we will get some big buyers on board following the AGM

[ripvanwinkle3] 18/6/2024 08:26

I am beginning to think that in a few weeks time we will fully understand why they decided to cut Norway completely.

[cashandcard] 18/6/2024 08:26

Still work to do here, but my, what a promising outlook. Minnows should not be anywhere near NS, a dying basin in a hostile investment environment. I've sliced some here this morning, but the core holding will ride free now. Excellent few days and look forward to more data on the renewed strategy and new assets.Cash

[jungmana] 18/6/2024 08:25

Market cap is just GBP 8 million at 13p .Would not look out of place at 5 times that in my opinion

[jungmana] 18/6/2024 08:21

Added 60k shares more this morning

[jailbird] 18/6/2024 08:19

Sliced some off Made up some of losses from the first drop we had Let the rest just run and see what happens

[stockhunters] 18/6/2024 08:17

as Zengas mentioned '15 TCF opportunity', with majors interested already

strip away cash then market is valuing this at only £3million currently

[danmart2] 18/6/2024 07:53

AGM next week is now very very interesting

[ripvanwinkle3] 18/6/2024 07:15

A poster over on LSE who seems to be in the know reckons the awarded discovered fields will also be announced and presented at the AGM next week. So lots to look forward to

[someuwin] 17/6/2024 19:55

Malcy's blog

"...So pick the bones out of those two announcements this morning as Longboat, remarkably quickly after the recent news that Norway was proving to be somewhat less than profitable, and that its South East Asia portfolio was the future. The way that it has been done is pleasing, the company could not find any reason to stay in Norway and if they had stayed in what was a deteriorating situation there was no guaranty that they could have got out so cleanly.

Longboat has sold its 50.1% interest in the JAPEX JV for $2.5m in cash but importantly taking with it the share of the debt which adds $8.5m to the total making an $11m exit purse. As a result in one fell swoop the board has wiped the slate clean in Norway and is now preparing for life as a South East Asia focused hydrocarbon play.

And what now, well the good news is that there are the makings of a pretty handy portfolio of assets tucked away under the watchful eye of James Menzies who is somewhat of a legend in the area and has the optionality to make something really rather good out of what he starts with.

The jewel in the crown is obviously Block 2A where they have a 52.5% operated interest in this offshore Sarawak located area in eastern Malaysia and in which the ‘giant Kertang prospect’ is located. And this is indeed a jewel, we are told that ‘multiple large companies have approached Longboat’ with interest, accordingly a farm-out process will take place in H2 2024.

In addition to this, Longboat has also potentially an interest in shallow water Sarawak ‘containing several material, undeveloped gas fields capable of near-term development’. These, added to 2A are really excellent starting blocks for the company and as they have said, an important addition to the Asian portfolio.

The speed with which Longboat has got to grips with the Norwegian problem, cut a deal to sell and move forward has been very impressive. Fortunate maybe, in having 2A and Mr Menzies to call upon but I can’t think of anything or anyone better to lead the company going forward.

I have said twice now that investors should not hang around in reassessing and deciding to invest in what we should call ‘New Longboat’, with a CPR imminent I have a feeling that there is lots of upside here and maybe quite quickly too."

hxxps://www.malcysblog.com/2024/06/oil-price-savannah-southern-longboat-rockhopper-sound-corcel-and-finally/

[arcteryx] 17/6/2024 18:37

Some of you guys who've managed to pick up over a million shares down here are gonna be seriously wealthy if Kertang comes in.

I've not been able to pick up that many, but plenty enough to keep me interested and watching with interest to see how this one now plays out.

Alistair Bruce - thank you kind sir for selling and giving us this amazing opportunity

[ripvanwinkle3] 17/6/2024 16:20

If we can also get debt funding for these discovered resources we've been provisionally awarded we'll be flying