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At last...starting with big bang today..let’s hope it continues...
GL holders
Good luck Ritchie and let us know if/when you get in. I suspect there is no rush but we could see i little rise on anticipation when GEEC start drilling through shale. The main london listing could also bring a few more investors in as the shares are ISA allowed with all brokers then.
Hi all, another newbie watching this share. This has been on my radar for a couple of months now mainly because it appears in a couple of the screens I have set up on stockopedia. This continually comes up as a value share.
Not much news out of the company so it was good to read some of articles linked here.
Interested to see how the dispute over the land pans out. If that does get sorted out then I don’t see anything to stop this breaking out big style.
Not dipped my toe yet but finger hovering over the buy button as soon as it looks like opening up.
Hi both. agree very much with Hasiba there Steve, brokers price targets are worthless really. What i would say though is that on traditional valuation metrics either GEEC looks very cheap or the market is pricing in a significant deterioration in revenues and earnings. The Indian government is clearly committed to increasing the share of gas in the national energy mix to 15% by 2030 (from c6% now) so the macro picture is supportive. GEEC have significantly derisked their gas resource, as in there is gas and it flows well enough to be commercially extracted. Finally the new pipeline to Kolkata and new markets to sell the gas to is still on track to be commissioned in 6 months. GEEC will also be testing the shale prospects on their acreage in the coming months. Success here is not needed for upside to the share price so if commercially viable shale gas can be proved up then this could be a very exciting share to be invested in. BUT shale is highly uncertain at the moment.
Got to keep in mind whilst this looks to be setting up nicely at the moment for GEEC, it is India (anything can happen) and the management team in my view are not that strong and terrible communicators. The Modi family who own around 2/3rds of the shares have been buying in though as recently as Nov last year.
One thing to be aware of is the production rates of gas from the existing wells. I need to do more work on this but is has been reducing. They've definitely choked back production deliberately lately to keep the gas available for sale rather than flaring it so its difficult to assess whether there is some underlying reason for reduced flows or whether its just the deliberate actions of the management to slow production rates down. They currently cant sell all they produce as local markets never really opened up for them, despite years of promises that there were many customers desperate to get their gas!
so please DYOR, lots of it. The eventual value of the reserves is in the hundreds of millions if gas pricing stays where it is and they can keep costs under control and the market opens up. And you can get that opportunity for <£20m market cap and around £40m debt. Dont expect transformation over night but could be an excellent entry point for a longer-term play.
GL
Steve..
SP Angel is the company broker advisory so take their recommendations with a pinch of salt!
But look into it in more details at Morningstar and Market screeners site and others ,and you will find a lot of useful information..
I bought today after studying it in details ..
Dyor and decide what’s best for you..
GL
Have just come across this little company as it has a brokers target price of 252p (SP ANGEL) is this even possible? will obvisly do my own research but thought I would see what everyone here was saying, thinking of a long term hold here.
Apart from yesterday is there due to be any news or announcements that could effect this?
Thanks everyone and good luck