Longboat Energy Share Discussion Threads

[umik1] 27/6/2024 10:25

https://x.com/InvestorMeetCo/status/1806251506296922254?s=19

[spangle93] 27/6/2024 10:17

@ZENGAS
Well done on your investment here. I planned to research it when I got back from vacation, but it's not 8p any more! :-(

[sogoesit] 27/6/2024 10:01

No problems Zen.

Anyway, this is premature and pure guess-work at this stage. The only time a valuation can be put on discovered reservoir fluids will be when first samples are brought to surface.
Value, net, will all depend on the relative quantities of fluids delivered from the well stream mainly by the trade-offs in cost of offshore processing versus "stuffing liquids" into a pipeline to shore or FPSO plant. Today, anti-flaring complicates the issue. Ideally the dryer the gas the better, offshore.. imo.

(NB. I have seen ethane product in the north sea, at various times over decades, delivered at premia to oil. The product markets are even more difficult to predict.)

[jungmana] 27/6/2024 09:15

I bought 30k more shares today about 23p.Imo LBE should be able to reach GBP 50 million market cap this Q3. Lots of news due with the near term.

[katsy] 27/6/2024 09:10

Are these CoS (Chance of Success) figures best or worse case scenarios in any CPR?

[zengas] 27/6/2024 08:52

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 08:33

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

[swanvesta] 27/6/2024 08:31

"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 08:14

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 08:14

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

[stockhunters] 27/6/2024 08:10

Well one thing is for sure with the location and size of the resource this company is now confirmed the cheapest play on LSE by quite a significant margin

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

[sogoesit] 27/6/2024 07:58

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 07:53

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 07:50

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 07:44

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 07:43

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 07:42

Low valuation here makes it look silly compared to others like UPL and BOIL to name a few

One thing we have going that they do not is the new management are top tier

great RNS

[katsy] 27/6/2024 07:40

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

[sogoesit] 27/6/2024 07:39

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

[katsy] 27/6/2024 07:37

What is NGL?

[divmad] 27/6/2024 07:35

Zengas, do the low Cos numbers concern you?

[zengas] 27/6/2024 07:34

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 17:52

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 17:44

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

[cashandcard] 26/6/2024 17:29

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