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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Longboat Energy Plc | LSE:LBE | London | Ordinary Share | GB00BKFW2482 | ORD 10P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 1.25 | 5.95% | 22.25 | 558,216 | 16:22:56 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 21.50 | 23.00 | 22.50 | 21.00 | 21.00 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Offices-holdng Companies,nec | 641k | -4.19M | -0.0733 | -3.04 | 11.99M |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 16:28:50 | O | 116,794 | 23.00 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 17/7/2024 | 11:49 | UK RNS | Longboat Energy PLC Holding(s) in Company |
| 16/7/2024 | 07:00 | UK RNS | Longboat Energy PLC Director/PDMR Shareholding |
| 15/7/2024 | 17:51 | ALNC |  TRADING UPDATES: Concurrent's "record" half-year; EnSilica deal win |
| 15/7/2024 | 07:00 | UK RNS | Longboat Energy PLC Disposal |
| 02/7/2024 | 13:44 | UK RNS | Longboat Energy PLC Holding(s) in Company |
| 27/6/2024 | 20:23 | ALNC | EARNINGS AND TRADING: Shuka Minerals loss narrows; Atome loss widens |
| 27/6/2024 | 12:19 | UK RNS | Longboat Energy PLC AGM Results |
| 27/6/2024 | 07:00 | UK RNS | Longboat Energy PLC AGM Update |
| 27/6/2024 | 07:00 | UK RNS | Longboat Energy PLC Block 2A Competent Persons Report |
| 19/6/2024 | 15:40 | ALNC | IN BRIEF: Longboat Chair Elect Menzies buys GBP100,000 in shares |
Longboat Energy (LBE) Share Charts1 Year Longboat Energy Chart |
|
1 Month Longboat Energy Chart |
Intraday Longboat Energy Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 26/7/2024 | 14:02 | LBE | 1,328 |
| 03/11/2022 | 16:42 | Longboat Energy | 187 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|---|---|---|---|
| 2024-07-26 16:27:12 | 23.00 | 116,794 | 26,862.62 | O |
| 2024-07-26 15:28:51 | 22.70 | 2,154 | 488.96 | O |
| 2024-07-26 15:23:30 | 21.66 | 10,000 | 2,166.00 | O |
| 2024-07-26 15:20:45 | 22.80 | 5,546 | 1,264.49 | O |
| 2024-07-26 15:18:36 | 22.00 | 10,000 | 2,200.00 | O |
| Top Posts |
|---|
Posted at 26/7/2024 09:20 by Longboat Energy Daily Update Longboat Energy Plc is listed in the Offices-holdng Companies,nec sector of the London Stock Exchange with ticker LBE. The last closing price for Longboat Energy was 21p.Longboat Energy currently has 57,108,120 shares in issue. The market capitalisation of Longboat Energy is £12,706,557. Longboat Energy has a price to earnings ratio (PE ratio) of -3.04. This morning LBE shares opened at 21p |
Posted at 18/6/2024 11:09 by someuwin Cavendish note from yesterday for those who haven't seen it...LONGBOAT ENERGY JV Holding Sale and Norway Exit In light of the near-term working capital challenges and the continued absence of value-accretive acquisition opportunities, LBE has announced the divestment of its 50.1% shareholding in the Longboat Japex Norge JV to its JV partner JAPEX and its exit from Norway. In consideration, JAPEX will pay LBE US$2.5m in cash and will assume LBE’s share of the drawn debt under the JAPEX acquisition facility (US$8.5m net), for an aggregate consideration of US$11m. The proceeds will be directed to fund LBE’s working capital and operations in Malaysia, where LBE has greater value-creation potential. Key to this value proposition is the Kertang prospect – one of the largest undrilled structures offshore Malaysia. - An Undrilled Giant: LBE has a 52.5% operated interest in Block 2A, offshore Sarawak. Block 2A contains the Kertang prospect, one of the largest undrilled structures in Malaysia at >200sqkm and estimated to contain 8-10Tcf of gas. Given the potential scale of Kertang, and the existing industry interest, LBE intends to run a farm-out process during H2/24 to identify a partner. LBE is expected to release an updated competent persons report (CPR) on the prospect at the end of June. - Follow on Opportunities: LBE has provisionally been awarded acreage in shallow water offshore Sarawak containing several gas discoveries capable of near-term development. While details are limited at this stage, we expect to see this type of low-cost resource capture going forward giving the business significant optionality to grow its portfolio through its strategic positioning. - A Proven SE Asian Track Record: Through CEO Nick Ingrassia, Executive Chairman James Menzies and EVP Corporate & Business Development Dr. Pierre Eliet, LBE has extensive experience and network in the SE Asia region. Nick and James were previously at Salamander Energy, a >14,000boepd, London-listed SE Asia focussed E&P company which was acquired by Ophir Energy for £314m in 2015. - Right Sizing the Business: The strategic pivot away from Norway allows LBE to streamline and reset its cost base, including a reduced board and management team. These measures are anticipated to result in annual savings in excess of US$$1.25m from the start of 2025. These savings, combined with the consideration from the sale of LBE’s interest in Longboat Japex, are forecast to provide sufficient capital through to the end of Q1/25 and we expect LBE will seek to further reduce its cost base. - A Strong Macro Story: Between 2012-22, primary energy consumption growth in SE Asia has increased by c2.6% pa; this is the highest of any region globally. Equally, there is a huge carbon emissions reduction opportunity in SE Asia by using natural gas as a replacement for coal, which currently makes up 47% of SE Asia’s primary energy consumption. Further, SE Asia has been a hotspot for M&A activity in recent years, as the independents look to secure assets from the supermajors (e.g. Hibiscus’s acquisition of TotalEnergies’ interest in Block B, offshore Brunei). - Valuation Under Review: We place our valuation under review pending the release of the announced CPR at Kertang – expected at the end of June around the time of the AGM. |
Posted at 18/6/2024 09:55 by zengas JungmanaBoth 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. |
Posted at 17/6/2024 10:20 by someuwin Cavendish...LONGBOAT ENERGY JV Holding Sale and Norway Exit In light of the near-term working capital challenges and the continued absence of value-accretive acquisition opportunities, LBE has announced the divestment of its 50.1% shareholding in the Longboat Japex Norge JV to its JV partner JAPEX and its exit from Norway. In consideration, JAPEX will pay LBE US$2.5m in cash and will assume LBE’s share of the drawn debt under the JAPEX acquisition facility (US$8.5m net), for an aggregate consideration of US$11m. The proceeds will be directed to fund LBE’s working capital and operations in Malaysia, where LBE has greater value-creation potential. Key to this value proposition is the Kertang prospect – one of the largest undrilled structures offshore Malaysia. - An Undrilled Giant: LBE has a 52.5% operated interest in Block 2A, offshore Sarawak. Block 2A contains the Kertang prospect, one of the largest undrilled structures in Malaysia at >200sqkm and estimated to contain 8-10Tcf of gas. Given the potential scale of Kertang, and the existing industry interest, LBE intends to run a farm-out process during H2/24 to identify a partner. LBE is expected to release an updated competent persons report (CPR) on the prospect at the end of June. - Follow on Opportunities: LBE has provisionally been awarded acreage in shallow water offshore Sarawak containing several gas discoveries capable of near-term development. While details are limited at this stage, we expect to see this type of low-cost resource capture going forward giving the business significant optionality to grow its portfolio through its strategic positioning. - A Proven SE Asian Track Record: Through CEO Nick Ingrassia, Executive Chairman James Menzies and EVP Corporate & Business Development Dr. Pierre Eliet, LBE has extensive experience and network in the SE Asia region. Nick and James were previously at Salamander Energy, a >14,000boepd, London-listed SE Asia focussed E&P company which was acquired by Ophir Energy for £314m in 2015. - Right Sizing the Business: The strategic pivot away from Norway allows LBE to streamline and reset its cost base, including a reduced board and management team. These measures are anticipated to result in annual savings in excess of US$$1.25m from the start of 2025. These savings, combined with the consideration from the sale of LBE’s interest in Longboat Japex, are forecast to provide sufficient capital through to the end of Q1/25 and we expect LBE will seek to further reduce its cost base. - A Strong Macro Story: Between 2012-22, primary energy consumption growth in SE Asia has increased by c2.6% pa; this is the highest of any region globally. Equally, there is a huge carbon emissions reduction opportunity in SE Asia by using natural gas as a replacement for coal, which currently makes up 47% of SE Asia’s primary energy consumption. Further, SE Asia has been a hotspot for M&A activity in recent years, as the independents look to secure assets from the supermajors (e.g. Hibiscus’s acquisition of TotalEnergies’ interest in Block B, offshore Brunei). - Valuation Under Review: We place our valuation under review pending the release of the announced CPR at Kertang – expected at the end of June around the time of the AGM. |
Posted at 07/6/2024 13:21 by arcteryx Perhaps UPLs share price is why Longboat is changing course then.Everything they've ever done in Norway has made the share price go South! |
Posted at 04/6/2024 22:58 by pol123 LBE is currently priced as a company that had one turn of the drill bit and hit a duster. There have been some posters who clearly dont understand LBEs position their assets, value of the JV etc. IMO if LBEs mcap was £10m it would still be cheap. On top of that we have had a distressed seller. Im sure when we get a clear statement/AGM output we should see some normalisation of the share price I would have thought any raise may be further downstream ie Asia JV / farm down or post CPR. But lets see |
Posted at 11/4/2024 10:09 by darcon LBE announced the Statfjord Satellites acquisition on 3 July 2023. LBE said then that with the planned in-fill drilling production was anticipated to double in 2024 to ~600 boepd net to LBE Norge.LBE said the anticipated payback on the transaction was under two years. The transaction also brought tax benefits to LBE and an additional $4m payment. Subsequently some doubts about the likely success of the in-fill drilling were raised when OKEA postponed the close of its earlier announced Statfjord acquisition from Equinor. However, OKEA ultimately chose to proceed with its acquisition and it subsequently completed at the end of 2023 and it now holds 14%. As at 1 Feb 2024 LBE/Japex's net production at the Statfjord Satellites was ~370boepd and we were still waiting to see the results of the production ramp-up. Uncertainty remained as to whether the operator would be successful in doubling production as predicted and LBE had walked down the production expectation from doubling to a significant increase. So I think today's announcement confirming that production has indeed been successfully doubled is fantastic news. I'm very pleased with that. However, the news about cost inflation and cost overruns also shows the risk of being a small non-operator in such assets. Not much LBE/Japex can do post-acquisition if the project cost overruns or difficulties arise because of conditions deep underground that require more money to be spent. |
Posted at 02/2/2024 15:18 by darcon Those who knew about the Japex JV beforehand weren't able to trade and looking at the LBE share price chart there wasn't any material movement to the upside before LBE announced the deal.The LBE team are professionals with prior public company experience so understand their public company obligations and so I wouldn't expect to see evidence of any leaks from them or their advisers. |
Posted at 17/1/2024 14:09 by darcon someuwin - yes. It's the nature of exploration. LBE's discovery hit rate has actually been better than 1/3 to date. They've been unlucky in terms of the sizes of what they've discovered (Velocette being the most recent example), but the Japex deal and LBE's recent farm-down to Concedo show that other industry parties value LBE's O&G expertise.One could ask why did Equinor and DNO partner up with LBE on this acreage and not go it alone without LBE? I think the answer is that LBE are adding value to the exploration effort as a result of their experience of injective reservoirs gained through the Kveikje discovery. The initial work programme on Magnolia is low-cost. It consists of the acquisition and/or reprocessing of modern 3D seismic and G&G studies. They'll have a drill or drop decision in one year's time. On deciding to enter the next phase they'll have two years to drill an exploration well. LBE may yet be able to farm-down part of their interest in Magnolia in order to be free carried on their effort. Magnolia, if successful, could be part of a wider cluster development. Lots of little pools can make a lot of economic sense if tied together and jointly developed as an area cluster development together with Kveikje and other nearby discoveries in the area. In my view it makes perfect sense for LBE to take steps to enhance the value of their Kveikje position by taking positions in neighbouring acreage. In Kveikje LBE holds a 10% interest and in Kjottkake/Lotus LBE have farmed-down from 30% to 15%. So a 20% initial stake does give room for LBE to subsequently farm-down a portion. |
Posted at 08/12/2023 14:42 by zengas Does anybody even bother to put pen to paper anymore in sussing out, valuing the assets and potential on hand instead of chasing something thats not underpinned just because they think the action is somewhere else right now ?? (but good luck to them).They're paying over 10 times the price at UPL compared to a year ago and 7 times the last placing barely 8 months ago. UPL no psc awarded yet for the 45% study of the 6700 km2 SK334. Little cash, no 3D seismic to help define any prospects. They've signed letters of intent only for a rig but that wouldn't instill confidence in me where they're going to stick a hole whenever the PSC is awarded and at what percentage they end up with or if they farm out reducing the as yet unknown prize. At 4.3p valued today at £51m - what is there to fall back on if the first drill fails ? PIs neither know at this minute what the prize on offer is and what they might farm out to hold on to ? At least LBE are underpinned on the assets they have. They may have access up to $200m of financing in Norway. A company like Japex doesn't get involved without dd and some level of comfort. The initial acquisition for the JV will have one year of contributions from the effective transaction date of 1/1/23. "Based on Longboat Norge's internal estimates, at current commodity price levels the Transaction is anticipated to reach payback in under two years". "the Transaction is expected to unlock material tax synergies within Longboat Norge associated with historic corporation tax losses" Around 600 boepd is expected shortly. They paid $8.20 per P2 barrel. Based on using $50m of the ($100m) JAPEX funding and $50m subordinated debt they could realistically pick up over 12 mmboe P2 and 4,500 boepd to give about 20 mmboe in the JV and around 5k boepd in total and maybe with a similar pay back of which they could go again as its a 5 year facility and thats only looking at using half those funds. What will 'punters', 'herdsmen' or investors think when they see 9 TCF estimated recoverable for Kertang in an exploration hot spot, gas coming from the structure and amplitude brights and covered by 3D when it draws closer. There's 2 other prospects half the size also covered by 3D - imo maybe 3TCF each which could likely bring it up to 15 TCF but there are multiple prospects all over the block. They've got 52.5% and in the recent interview they expected a farm down where a partner would be seeking 25-30% and if so would leave LBE with 20% minimum - a 3 TCF/500 mmboe prize or some $1.5b of potential at $3/boe or versus 56.7m shares now or even 100m down the road - possibly a tenner a share if that came in but at least the risk is backed up by the assets/production we currently have and will have - that i think could value us well in excess of £2 from Norway on its own. The unknown is the financing of new production deals in S.E Asia but again a JV route may be the way to go as they've stated they intend to minimise shareholder dilution. In essence not just one prize on offer for LBE! Just because the share price is tooing and froing a penny here and there - over 51% is held by directors and institutions and how many HNWs hold a fair few ? - meaning the real free float is very low and that is the real reason for a buy and hold strategy once you have them. UPL has a m/cap of £51m - LBE £10m. I know where the greatest risk reward lies. At current valuations, one's a punt the others a measured approach when it comes to risk reward imo. |
Posted at 27/9/2023 09:54 by ripvanwinkle3 LBE floated in Nov 2019 at 100p. share price currently 17pKIST floated in Oct 2020 at 100p. share price currently 232p. So KIST has created 15x more value than LBE according to the share prices. True reflection of the situation, or a value opportunity? |
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