Longboat Energy Share Discussion Threads

[arcteryx] 03/12/2020 11:51

Don't be silly. Take what out?

[chutes01] 03/12/2020 11:05

AA/Kistos may take this out.

[chutes01] 02/12/2020 13:14

LBE look ripe

[pro_s2009] 24/11/2020 19:31

KIST thread is here



.

[thomas11] 24/11/2020 12:24

Interesting that Andrew Austin (from Rockrose fame) will be back tomorrow with an IPO for Kistos, he will have a much larger war chest on IPO then LOngboat

They may be competing for the same deals although I suspect AA will start with smaller deals.

Should be interesting to watch this space.

Hopefully someone will create the new thread tomorrow.

[anley] 19/11/2020 11:53

Will LBE be getting off their backsides...................????????

Read more: hxxps://www.npd.no/en/facts/news/general-news/2020/announcement-of-25th-licensing-round/

AND even if they manage to get some licenses that will be a wait and do not forget they are down to £7m to run and pay for the costs of finding out just what they bid for..............

Is all this 2022 and then down to another funding in which retail invesors will be diluted to hell....!!!!!

[pro_s2009] 09/11/2020 07:35

Tumbleweed passes by........

[whitedukejay] 06/11/2020 16:14

I hope the board are on the furlough scheme.suppose you got to prove you actually do something to get that.

[justtrying1] 03/11/2020 11:20

So 1 whole year since admission and not a single dealPoor management or what

[anley] 30/10/2020 13:34

Finger up from me..................

[anley] 22/10/2020 12:45

Another month and still no news and I still can't find if LBE were able to apply for NORG...licenses........

In one year this copany has raised £10m and then written off £2m with another £1m this year..............= £7m Balance.

[arcteryx] 05/10/2020 11:03

anley what do mean by 'inflated paper'?
It seems like you don't understand what is going on with Longboat, why they were set up, what they plan to do etc.
I suggest you watch the two video interviews with the CEO (links on the website) to help set the scene for you.
Longboat raised £10 million to get the ball rolling (About £1million of which went on the IPO fees).
The £10 million allows them to start looking for assets. It's "step one". They aren't an oil company yet, they are an investment company, until they secure the first deal. The IIs who stumped up the money for the IPO were also Faroe Petroleum IIs, so they have a good relation with the Longboat management.
Now these IIs will, you would have thought, be interested in funding "stage two" of the Longboat journey, which will be the acquisition of the first asset(s) (target price high £10s of millions to low £100s of millions). Otherwise why would they have funded the IPO in the first place?
The situation with what has happened since the IPO is that as prospective buyers, Longboat are in a good positions, as super-majors look to diversify, some companies get 'distressed' and need to sell, and we are at a low point of the oil cycle. It's become a buyers market. The question is is whether the IIs still have the appetite to fund Longboat. I think 'yes', and that's why I've bought shares here.

[anley] 05/10/2020 10:09

Just a thought ARC>>>> why would I want to sell assets at a discount to LBE for their inflated paper.............

Just read DELT v IOG....as an example.

[anley] 02/10/2020 16:29

Thanks for that and other members of my family have shares in LBE bought at 60P.

The facts are here for all to read..........raised £10m and so far spent £2m+ on fees etc thus leaving the balance in cash which goes down by £125K per month.

I was also a shareholder in RockRose and was more than happy. Do you think he sold out too early or did he get fed up with waiting...........I think I know.

I will keep posting but let me leave you with a ponder..........why should I a seller of assets SELL to LBE who has inflated paper?

[arcteryx] 01/10/2020 10:46

anley,
I represent a global design company based in North Vancouver, Canada, specializing in technical high-performance apparel, outerwear and equipment.

But that’s beside the point.

I note that (see post #13) on 29th April you sold your LBE shares at the pitiful price of 70.5p “on the basis that the Board have not got a deal”. At the height of the first wave of the pandemic? What did/do you expect?

I think a degree of patience is warranted here, considering the unprecedented year 2020 has been, with a pandemic and an oil price collapse.
The resulting situation could, nay should, work out well for a new company like Longboat - it’s a buyers’ market, but just like with Rockrose, it took time for their first deal to go through, due to the “unrealistic prices still expected by those selling assets”. It is taking time for some companies to accept that they won't get the same $$ for their assets that they will have got 12 month ago.
Add to that the ongoing strategic shift of many majors away from hydrocarbons, and there are bound to be some excellent opportunities on the horizon.
Good things come to those who wait anley. But seeing as you sold out at 70p, I think you might be a lost cause, and I’m probably wasting my time even writing this.

[anley] 30/9/2020 14:38

and who do you represent ARCTERYX........??????

[arcteryx] 28/9/2020 18:08

Put a sock in it anley, you have no idea what you are talking about. The shares are just an addition to the long term incentive plan

[anley] 25/9/2020 09:47

Did LBE apply for any Norwegian oil/gas licenses recently?

I don't see their name on the list of applicants.....................

[anley] 22/9/2020 10:52

From today's report.......................

"It is likely that the Company's financial resources will be invested initially in either a small number of projects or one large investment, which may be deemed to be a reverse takeover under the AIM Rules.

In every case, the Directors will mitigate risk by undertaking appropriate due diligence and transaction analysis. Any transaction constituting a reverse takeover under the AIM Rules will also require shareholder approval".

[anley] 22/9/2020 08:15

At long last we have the figures and at first glance they are what I thought they would be:

From an opening cash balance of £9.2m to £8.1m and with a rate of expenditure of £125K per month and no activiy of the M&A front then cash in hand will be down to £6.9m.

I notice that Stifel their broker charged them £700K+ to raise the cash = expensive.

I will now have a read as to what they want to do and how they might do it and come back soon...................not a great story so far in fact no story.

[anley] 18/9/2020 12:36

Canaccord have been a seller and these are the same people who also sold down at Deltic..........you just can't trust these people.......and its all AIM stocks.

[anley] 17/9/2020 18:28

@86p = better value BUT not long to go = 23 Septmber and we may know a little more.

[anley] 04/9/2020 15:09

The Board will tell us all on 22 September what is going on.................

[anley] 04/9/2020 15:08

From May to now September and all we have is a share price drifting.

Something tells me there are no deals which pass the Board's tests so why not hand back the cash as the NAV is now well under what was originally raised.

Ask Reabold Resources as they are wanting cash and have the West Newton drill to pay for.....................just a silly idea!!