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Must have been a Bed and something
Production came in at 8.8k for the month.
6k boepd of gas and 2.8k barrels per day of oil.
Breakdown.
UK (GLA) to the 15th of Jan.
Edradour = 0
Glenlivet = 7781boepd of gas and 241b/d oil
Laggan = 6281boepd of gas and 327b/d oil
Tormore = 2535boepd of gas and 178b/d oil.
NORWAY (BALDER)
Total produced in the month 840,476 barrels of oil.
10% net to kistos = 2711b/d
NETHERLANDS (Q10-A)
Total produced in the month 137,734boe of gas
60% net to kistos = 2666boepd
I agree with you regarding Serica/Kistos Mommur.
An enlarged group led by Andrew Austin would immediately give us the much needed geographical diversity we need.
The combination seems blindingly obvious, I hope good sense prevails.
aimo
Feel your pain, but its being felt on most O&G companies. Both Harbour and Ithaca have expressed their dissatisfaction with the total lack of forward thinking from any party. I expect Serica Energy will state the same early April.
I am of the opinion that M&A (either/or) achieving greater mass is now a prerequisite in the UK and would like to see Serica/Kistos to reopen negotiations - they need a dynamic CEO and some oversea's assets. Been accumulating here in the low 140's and await next years ISA allowance. Keep the faith - its painful at Serica at the moment among others.
Will Kistos ever be over £2 again? Lack of comms (I have personally reached out to the company on a number of occasions to understand their strategy), and lower energy prices pushing this lower. Lack of interest in the market - it is sad to see as a holder of 20,000 shares
Looks like AA was letting off steam before the budget. Plenty of Politicians are not happy with the W/T being extended. I thought we had walked away from the UK and were going to concentrate on Norway. No point going on about it. Labour has already said they would increase the Tax if they formed the next government.
Idkmybffjill,
The Nordic bonds are listed on the euronext exchange.
You'll find the listing there, the rns was dated 29th Feb.
I understand Andrew's frustration - we are all frustrated. But surely it's better to just accept the fact the UK is screwed, and focus on alternatives? Why even waste time talking about it?
Strange drop, could be MMs taking the opportunity to drop the SP after AA interview. However if AA is struggling to do O&G deals locally, perhaps he needs to look further afield and tell this chronic government to feck right off
I’m assuming the drop is due AAs interview yesterday where he said the uncertainty surrounding the North Sea meant he had pulled out of several deals
As said hopefully he’s considering buybacks, atm £60M purchase doubles the SP. Pretty sure that’s not feasible but no doubt AA looking at the options
Berenberg cuts Kistos price target to 455 (485) pence - 'buy'
Surely that cannot be the reason for such a sell-off?
What news is out there that we don't know of?
Anyone know why the fall /sell of today?
12m taken off the market cap in a couple of hours an the back of 200k worth of trades although some chunks being unloaded. Time for buy backs me thinks..
There is no RNS filing on that date. So where is the info from?
Lol, its in the title/ subject of the post
So AA gives an honest interview about Tory/labour O&G taxes and our share price goes down LOL
NoQuestionMarks, where did you find this info?
Points of note for me.
1. Statement of reserves at end of 2023 21.9MMboe net to Kistos.
2. In the fourth quarter, 5 cargoes of crude oil were loaded from the Balder FPU. Net to KENAS, these totaled 257 kbbl (742 kbbl for the full year), which realised an average provisional price of USD 81.03 per bbl.
3. In December 2023, the Company received in total USD 87 million in tax refund for fiscal year 2022, including interest of USD 2 MUSD.
4. At the end of the period, KENAS had cash at bank of USD 16.2 million, of which USD 0.2 million was restricted. KENAS had drawn USD 0 million under the terms of the revolving credit facility from its parent company, Kistos plc, at year end 2023.
5. In the fourth quarter of 2023, production from the Balder Area averaged 3.030 b/d net to KENAS. Total production for the full year 2023 was 790 kbbl.
aimo dyor etc etc
Production averaged around 7.5k per day for the month (4300 boepd of gas and 3135 b/d of oil)
Production at GLA is only reported to the 15th of December, this covers the whole period of the Shetland gas plant shutdown. The SGP restarted on the 16th of December, so the production figures for the whole month should be in excess of 7.5k per day.
The breakdown for the month.
UK GLA (To 15th December)
Glenlivet 27.6mmscf/d gas. 228b/d oil
Laggan 7.7mmscf/d gas, 68b/d oil
Tormore 9.3mmscf/d gas, 84b/d oil.
Total = 7905boepd
20% Net to Kistos = 1581boepd of gas and 380b/d of oil.
NORWAY (BALDER)
Total = 27,546b/d of oil
10% Net to Kistos = 2755b/d of oil
NETHERLANDS (Q10-A)
Total = 4532boepd of gas
60% Net to Kistos = 2719boepd of gas
aimo dyor etc etc
JWBellamy you talk a lot of crap, if you look at the balance sheet, they don't need to take any debt to purchase a company for £25m.
Https://www.malcysblog.com/2024/02/oil-price-kistos-arrow-predator/
"Smart, exciting and interesting is what I make of this deal which I certainly wasn’t expecting but which seems to be a well fitting and more key, a strategically important piece of business. Key and strategic because it fits in very nicely with UK Energy Security Policy, something that should remain the case whatever the colour of the Government and changes AA into a new strategic investor…
The two gas storage facilities have been bought for a fraction of what they originally cost and are a major part of the UK onshore gas storage jigsaw and perhaps more interestingly are ‘fast cycle’ which means that they are instantly available for short term demand. In this respect to begin with Kistos will be working with a ‘leading trading house’ although I would expect them to be doing that job themselves before long, worth the while if you can provide 11% of the UK’s flexible daily gas capacity if called upon.
Being free to buy or sell gas gives Kistos significant extra flexibility in the market it operates and this subsidiary not being considered an oil and gas company will own 100% of the trading business and liable only to taxation as a trader and not the Looney tax. It also has the opportunity to provide the UK with highly valuable ‘cushion gas’ the value of which alone more than justifies the purchase price.
Finally and for the longer term, the company notes that this could provide profitable opportunities in both compressed air and has potential for hydrogen trading should that market develop. It looks like Andrew Austin has yet again come up with a dollar for a dime.."
A couple of large sells but the price continues to rise so the "market" has spoken for AA
Just for a bit of fun, you can have a peruse of the facility on Google Street Map:
https://www.google.com/maps/place/Bloor+N+E/@53.1471219,-2.4532996,15z/data=!4m6!3m5!1s0x487a588705aec637:0xfb47660b55a9796c!8m2!3d53.1501583!4d-2.4453532!16s%2Fg%2F1vs1rdg9?entry=ttu
Looks like I was shrewd (or lucky) buying a tranche last week Newk. Wanted AA as CEO at Serica, seen as its rudderless at present. Clever bolt on for Kistos.