Longboat Energy Share Discussion Threads

[crankylad] 02/9/2024 07:24

Norway was thought of as a 'good idea at the time'.. that went well!

[zebbo] 31/8/2024 06:03

Thanks to the seller I bagged another 100k at what I consider exceedingly cheap price. Particularly after the update

[ohisay] 31/8/2024 03:47

It is rare that a company changing its name is done for straight forward reasons such as a change in geography in which it operates which is why it usually comes with some scepticism, made worse by the added costs of such a move of course. In this case I think that what James Menzies is trying to do fully justifies the new Monica, ie disassociation from Norway.

Elsewhere the most important thing for the company is the farm-out of Block 2A and a deal by the end of the year will be exceptionally good for shareholders. Add to that the possibility of a PSC offshore Sarawak which is under discussion at the moment with a number of Federal and State entities and looks to be imminent. This is good given the number of signatures required and also adds to even more potential for Longboat who are set to gain from an immediate portfolio of assets including multiple gas fields.

From a low of around 6p the shares had a good rally when the long SE Asia short Norway policy was initially announced and was fully justified but after that run the shares are off a little over 20%. But this update reminds us that all is still on course as promised. What seems to have been forgotten is the huge potential in the new SE Asia region of operation for the company and the expertise of James Menzies in that area which is making the shares look outstandingly cheap.

Yes indeed!

[sogoesit] 30/8/2024 15:42

Indeed, non-industry punters have very little idea about how long it can take to do commercial business in oil&gas, especially overseas. That usually means they end up losing money on false assumptions.
AIMV

[zengas] 30/8/2024 13:51

JN

I've pencilled in my expectation re shares in issue to m/cap some time ago.

Don't forget there's a fairly small float so inclined to rise/fall on relatively small volume.

As i said on the other bb yesterday, not dissimilar to the posts and so called market re Afentra last year for quite a few months while deal terms were negotiated (32-24). Patience will reward imo.

[jnbrw] 30/8/2024 13:27

Zen - although that does not preclude a cash raising element for one or more of those inflexion points. Put it this way the market is not really dazzled by the prospect over recent days ( and weeks) with a sizable fall from the 24p(approx) level??

[zengas] 30/8/2024 13:04

"We are excited about our growing portfolio which we expect to deliver several value inflection points in the near-term."

ie more than two !

and in the near term !

[upwego] 30/8/2024 10:29

I think some big farm in in partner is on the cards, is what my gut is saying.
It's A huge prospect, so expecting some of the big boys to enter the Arena.

[katsy] 30/8/2024 09:31

My small top showing as a sell.

[ripvanwinkle3] 30/8/2024 08:42

Looks like a big holder decided they wanted out.
Guess they've been taking tips from that lengendary trader Alistair Bruce.
But I’ll take a few more then, thank you very much.

[upwego] 30/8/2024 08:41

This is great news!

Cheeky top up for me too with solid news due Q3 Q4.

[jailbird] 30/8/2024 07:07

About time , an update to say still on track

[ripvanwinkle3] 30/8/2024 07:06

....and another small top-up at 18p first thing this morning!

[ripvanwinkle3] 30/8/2024 06:55

Reassuring update and glad i topped-up yesterday

[jungmana] 30/8/2024 06:27

For sure they expect to have it all signed off by 19th September and there is the expected delivery of Block 2A farm-out in Q4.Should be a very nice Xmas for holders here.

[cashandcard] 30/8/2024 06:19

Coming weeks. Not long now, they have the investor meet in just under 3 weeks.Cash

[jungmana] 30/8/2024 06:04

Perfect perfect update. Can't ask for more

[ohisay] 29/8/2024 14:48

That was my 100k buy at 17.98p .
Been waiting for sub 18p on impatience and got it.

[jungmana] 29/8/2024 13:19

Patience required;
"Following recent increased interest levels in exploration for world-scale fields, multiple large companies have approached Longboat regarding Block 2A. Having consulted with PETRONAS, the Company now intends to run a farm-out process during H2-24 to identify a suitable partner."
 

[jungmana] 29/8/2024 13:14

2 months since we had the CPR on block 2A .On that alone this is too undervalued today at GBP 10 million market cap.

[katsy] 29/8/2024 08:46

From 17th June RNS

An Area of Mutual Interest ("AMI") in Shallow Water Sarawak was signed earlier this year, between Longboat and another international E&P company active in Malaysia to pursue discovered resource opportunities ("DROs") being offered by PETRONAS.



Longboat is pleased to announce that it has provisionally been granted an award, subject to the successful negotiation of certain key contractual terms, for acreage in shallow water offshore Sarawak containing several material, undeveloped gas fields capable of near-term development. These resources are an important addition to Longboat's growing Asian portfolio.

We were then told around the time of the AGM, they expect these negotiations to be completed around mid summer.

Now the question is, will they bother to tell us, if the negotiations failed.

[katsy] 29/8/2024 07:59

Just checking in to see how this two man and a dog outfit is doing. Maybe they've taken turns to go on holiday while the other looks after the dog. Is it mid summer yet?

[jailbird] 28/8/2024 18:50

Delays eat into cash resources, then you need more cash. Yoi see where I am going with this.

The BoD's recent track record is not good either, talk the talk but not doing much of the walk

[euclid5] 28/8/2024 18:40

Danmart2, in this business you always get delays

[cashandcard] 28/8/2024 11:41

Very cheap. The money will be made in the waiting.Cash