Longboat Energy Plc

0.00 (0.0%)
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
  0.00 0.0% 19.75 222,389 08:00:00
Bid Price Offer Price High Price Low Price Open Price
19.50 20.00 19.75 19.75 19.75
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Offices-holdng Companies,nec 0.00 -15.47 -27.30 - 11.19
Last Trade Time Trade Type Trade Size Trade Price Currency
16:11:10 O 67,500 19.875 GBX

Longboat Energy (LBE) Latest News

Longboat Energy (LBE) Discussions and Chat

Longboat Energy Forums and Chat

Date Time Title Posts
03/11/202216:42Longboat Energy187

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Longboat Energy (LBE) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2023-06-08 16:04:1719.8867,50013,415.63O
2023-06-08 15:11:1019.827,5001,486.50O
2023-06-08 14:53:2919.605,000980.00O
2023-06-08 13:58:3019.594,050793.40O
2023-06-08 13:00:0819.5050,0009,750.00UT

Longboat Energy (LBE) Top Chat Posts

Top Posts
Posted at 04/6/2023 06:09 by ohisay
My 10p worth .

Auctus in its review said ...
The transaction has an effective date of 01/01/2023.
The existing Norwegian debt facility and Norwegian tax credits will stay in the Longboat Norge JV.The debt facility provided by JAPEX will be available for drawing during the first three years

One of the directors recently said the 16m$ goes directly into the JV.

Am assuming LBEs current cash ( circa £9m in February net of the payment for Velocette) stays with LBE to do with as they please.
They may need some of it to pay for their Norway project acquisition in Q3 (when Japex coughs up another 4m$ assuming the JV is sanctioned.)

Questions worth revisiting for clarity at the AGM and the investor meet presentation.!

Posted at 03/6/2023 16:10 by bumpa33
e43 - my understanding is yes the $16m is solely to the JV. As for LBE’s remaining cash I’d assume that no it isn’t going to the JV but not sure. And I’d assume again that the tax refund as it applies to LBE will go directly to LBE.
Posted at 03/6/2023 15:35 by e43
Bumpa, having read the Japex May 2 RNS, and watched the CEO interview on LSE,a couple of financial points don't seem to have been well articulated in either,i.e
1,I presume the $16m initial payment is going into the JV rather than a payment to LBE plc?
2, there doesn't seem to be any mention of LBE committing any of its remaining cash to the joint venture.
3,LBE looks like it will be recieving a large tax refund later this year,(roughly equivalent to it's debt)will this refund now go to the joint venture or directly back to LBE plc?

Posted at 03/6/2023 10:40 by bumpa33
Been following LBE ever since its IPO due to the ex Faroe Petroleum management involvement and the story. This is a quality outfit unlike 95% of the other dross you’ll find on the London markets when it comes to oil juniors. However it’s fair to say its operational performance has been at best only average since then, and its share price performance certainly poor.

The JAPEX deal however is a bonafide game changer - not some convertible loan “investment221; or a dodgy Chinese entity no one’s ever heard of, a pre sold bucket shop placing at huge discount or a jewel stealing opportunistic raid etc etc. This 51/49 JV and substantial injection of cash gives the company a real new lease of life, with some heavyweight backing both financially and as importantly, technically. The structure of the JV, giving Longboat 51% is important for the long term - short term the £10m valuation for the company as it stands is just daft.

When you take into account what this deal does for both parties and the numbers involved, imo fair value should be nearer £20m mkt cap as we stand. Longboat is now well and truly on the radar - so at worst I think doubling your money in relatively short order from this entry - on speculation and expected newsflow alone - is a very achievable target. Longer term who knows.

There has been a reasonable consolidation phase the last month after the initial spike, it would now seem interest is beginning to pick up again and what stock was available - from one HB at least - appears to have dried up.

Summer months can be unpredictable, even so the R/R should be heavily skewed to the upside…

Posted at 30/5/2023 10:21 by darcon
I had a quick glance today at the top25 shareholder info on simplywallstreet.

Other than Alastair Bruce who has increased his stake in LBE to >4% the institutions which have recently increased their stake in LBE since the last two reporting dates are:
(1) SVM Asset Management (+11.41%) to 8.61%,
(2) DNB Asset Management (+1836%) to 1.67%,
(3) LGT Capital Partners (+37%) to 1.59%,
(4) Peel Hunt (+3055%) to 1.46%,
(5) HBOS (+92%) to 1.04% and
(6) AJ Bell Holdings (+83%) to 0.74%.

The institutions that have been reducing their stakes in LBE are:
(1) Blackrock (-42%) to 7.75% although the % figure for Blackrock may be inaccurate as I believe Blackrock's most recent holding announcement was on 7 March and stated their holding had dropped below 5%;
(2) Canaccord (-17%) to 3.76%
(3) UBS (-36%) to below 1%;
(3) Fidelity International (-98%) to below 1%.

Posted at 30/5/2023 08:02 by darcon
Positive news this morning regarding a rig being assigned for the Lotus drill for Q3 2024 and also noting its potential for a cluster development along with LBE's Kveikje discovery.

The RNS also notes that Velocette is expected to spud late this summer.

Although nothing is stated in the RNS regarding progress with the JV transaction with Japex this presumably will be viewed positively by them.

Interestingly there is a Q&A transcript dated 15 May 2023 on Japex's website in the English language (see: HTTPS:// There's no mention of LBE in that transcript, but they do talk about Japex's share price to book being below 1, how they have too much cash and how they're keen to deploy that cash among others in new O&G growth projects. This helps explain Japex's rationale for their JV investment in LBE Norway. Japex note in one of their answers in that transcript that they have 100 billion yen available for investments.

Posted at 08/5/2023 18:53 by darcon

DNO share price performance since it acquired Faroe Petroleum:

Post acquisition 2018 year end accounts of Faroe Petroleum which were signed off by DNO's board nominees:

Posted at 03/5/2023 15:10 by nigelpm
That has kept a lid on Share price - no doubt.
Posted at 03/3/2023 11:16 by ripvanwinkle3
Bit of an overreaction here surely? Not exactly like any value in the share price for Egyptian Vulture at yesterdays Share Price of 15p! Crazy
Posted at 04/1/2022 14:50 by anley
Looking through my files and research notes it seems to me that the Egyptian Vulture well has encountered about 5mmboe and 10mmboe on a 25% recovery factor.

Those of you who read and post on this BB should now work out what that value means on the LBE share price..........a hint.......back past the last placing price in my view.

Longboat Energy share price data is direct from the London Stock Exchange
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