Longboat Energy Share Discussion Threads

[zengas] 27/6/2024 07:52

My mistake swan/sogoesit, read it as condensate.

Either way, it will still add value to the mix imo and represents a 10% uplift in numbers.

[professoraim] 27/6/2024 07:33

Absolutely huge now this is and so undervaluedShould be 40/50p Buy as many as you can

[swanvesta] 27/6/2024 07:31

"Ngl is condensates higher value than oil."

Really? IME even the longer chain NGLs are cheaper than oil. And NGLs are typically short chain ie ethane with diminishing amounts of propane and butane.

[cashandcard] 27/6/2024 07:14

Great timing for this update, no slippage into July. Confirms the significant multi level potential of Kertang prospect. No doubt there will be more on the remainder of the licence to divulge in the future.Pretty handy, they can test all those intervals with one well. Very useful for a potential partner to know.Cash

[jungmana] 27/6/2024 07:14

Compared to peers should be at least 4 times todays valuation and the DROs are not included in that.

[stockhunters] 27/6/2024 07:10

Come back in a few months and lets see what the board can achieve

[sogoesit] 27/6/2024 06:58

First valuation will come with the Farm-in deal.
Which should be this year. ‘Til then it’s all speculation, hopefully to the upside.

[jungmana] 27/6/2024 06:53

Brilliant cpr and makes this look absurdly cheap at GBP 10 million market cap.Norwegian sale nearly complete and now waiting for the DROs expected soon.Looking forward to the investor meet today.

[sogoesit] 27/6/2024 06:50

Yeah, NGLs are C2 (ethane) to C5.
Condensâtes are heavier at C6+.
But NGL market in Far East is robust at present; which can change of course.

[zengas] 27/6/2024 06:44

No. It would concern me if there was no gas clouds, DHIs or Amplitude brights. Methane measurements indicate low to limited CO2 which would make this more valuable and sought after on a farm out and reduced capex cost on discovery. I’m actually surprised the success ratio is as high as it is.

Ngl is condensates higher value than oil.

[sogoesit] 27/6/2024 06:43

Yeah, well done. The report should have all the definitions as well.
I’ve found Google to be useful too…. ;-)) But admittedly not as good as Copilot imv.

[stockhunters] 27/6/2024 06:42

Low valuation here makes it look silly compared to others like UPL

[katsy] 27/6/2024 06:40

Ahh found it further down in the report. Natuarl Gas liquid

[sogoesit] 27/6/2024 06:39

Natural Gas Liquids
They are hydrocarbons’ liquids associated with a predominantly gaseous reservoir.

[katsy] 27/6/2024 06:37

What is NGL?

[divmad] 27/6/2024 06:35

Zengas, do the low Cos numbers concern you?

[zengas] 27/6/2024 06:34

1.66 billion boe mid case from Kertang.

With just some of the other very large structures, two more of which appear covered by 3D along with the shallow play that has emerged, I believe we will be looking at circa 3 billion boe.

The biggest play in town for £10m m/cap.

The DRO award should mean a few multiples to the current valuation.

[cashandcard] 26/6/2024 16:52

It's a habit built up over many years. I always take some profit/winnings but let a core position run now. This has delivered nicely from recent lows, the remainder is positioned for exposure to the upside case which I expect to play out in Q3 and towards end of year. I'm happy with that.Cash

[ohisay] 26/6/2024 16:44

Cash ..What I dont get is why you were selling on the 18/6

[cashandcard] 26/6/2024 16:29

Divmad,Reason's explained by most on here already. The marketcap/price is a reflection of fallout from the Norwegian side of the company that ran aground, taking this one to its lowest point ever since IPO. They've only just announced they are moving on from that.So it's work in progress as they say. But the time-lag will close.The substantial Sarawak assets did not have the focus or work that they will now get. Appreciate UPL have alot going on onshore (I was invested in them lastyear), but each one has its own timelines and merits. I think LBE has a stellar team now and are a FO process is being launched. There are the DROs to detail aswell. A news rich period, which will help the rerate continue in the near term.Cash

[divmad] 26/6/2024 16:11

Cash, why do you think that the valuation of LBE, after the pivot, is lagging so far behind that of Upl, and the implicit upside from Kertang given the 3D signing spent already?

[cashandcard] 26/6/2024 15:17

ohisay,My thesis for Namibia is, there just wasn't enough work done by previous explorers to get remotely close to understanding the subsurface of any of the 4 major basins in Namibia. An area the size of the NS with fewer than 70 wells drilled. Whereas the NS has over 4,000 wells. Of course, that all changed with Shells Graff discovery, then the huge Venus discovery. The recent megadiscovery by GALP/Sintana is further testament. The gargantuan 2,400km2 Saturn Superfan is best played via Sintana Energy TSX (7.4% carried via local entity). PCL have 20% but little else in case it fails. Sintana have smashed it out of the park in their first campaign with GALP (JV estimated 10bln OIP minimum - but rumoured upto 14billion per Upstream sources close to GALP). So a safe bet with exposure to other successful licences in the area.In terms of bang for buck, LBE offers just that a huge opportunity at a derisked prospect. In fact, I may ask Charlestown Energy partners (parent of Sintana Energy) why the heck they have not come on board LBE. They are quite busy looking for new/emerging basins. It fits their criteria for getting into high impact exploration, perhaps they are awaiting partnering and/or risk to be spread amongst a wider portfolio.Regardless, it's a promising outlook and thank heavens the Norway side is being let go. Was always the problem.Cash

[ohisay] 26/6/2024 14:20

Great posts from Zengas and Cash .
A bit off topic but am particularly thinking about PEL87 in Namibia and Pan Continental .

I was a bit of a fan of PCL when they were drilling in the Walvis Basin in the north.Managed to get out alive there back in 2017 when like most others there they were involved with drilling a dud in an area that these days doesnt seem to be prospective.

But like Topaz in a way they got lucky by acquiring PEL87 in 2018 .

This is their presentation in 2022,


That was before the 3D .

Anyways the point of my post is that if you are in the right area judged by discoveries around you and have done your 3D which suggests your license is even more prospective then a premium rating might be in order ..to put it mildly .

PCL today without a drop of oil to its name is capitalised at 179mAUD or 94m£ based on that Saturn prospect .
Contrast and compare LBE in 2A ..
Just saying DYOR of course.

[stockhunters] 26/6/2024 14:10

Yes katsy someone is mopping up all the sells at 20-21