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@CAINO: I completely agree. That's a silly metric. It was just a back-of-envelope comparison. I'm just very wary of hype. I prefer to go on guidance/revenue/profitability/histrory as metrics.
I don't know anybody at Stockopedia. I just get surprised by ignorant people making comments about things which they've never tried. I would say that using it increased my profitability by 6 figures in the past year. It's what allowed me to quickly identify a handful of producers that have gone on to 3x, without having to spend hours on 50+ companies. I know several fund managers that use it.
Cane,
What kind of metric is bopd/£1m market cap? I can tell you now it's meaningless without factoring in OPEX/CAPEX and any financing costs. You started this thread commenting on the P/E why not stick with that and compare the other companies you appear to be low key pumping.
Regards
Caino
Do you work for Stockipedia? Odd
But does it buy profit....
Indeed, seeing Andrew Austin's holding, that is a huge plus.
we make about £1 million a day from gas sales, been doing that since about June. Do the maths as they say in the states!
@Surfit: Huge thanks.
As a back-of-envelope calc, SQZ looks slightly cheaper on a barrels of oil equivalent per £1m market cap. Serica: 44, vs Kist: 37. (i.e. for Serica, each £1m buys 44 boe/d production). Clearly each company has different profiles and exploration upside. I also like the Kist management record, so I'll probably take a starter position.
there is also another RNS of interest:
"Statement re: media speculation
Mon, 20th Dec 2021 07:00 RNS Number : 1166W"
Most on here came across after AA and team sold RockRose, Mr Austin has so far delivered on expectations and because he invests heavely into his on companies, seems to make investors and himself some decent returns.
But by all means promote the others, thank you for informing us of those. I made around a 100% with GKP but feel there are more legs and its a safer option here.
All the best Sft
Hi Cane Toad, the RNS's are readily available on LSE (See KIST LIVE RNS Icon) and the easiest one to read is:
15th Nov 2021 7:00 am RNS- 3115S "Operational Update" there a clue.
...............Following the testing of the Vlieland formation, a sidetrack was drilled from the Q10-A04-A wellbore at high angle through the Zechstein carbonates and clastics and completed in the primary Slochteren formation at a TVDss of 2,319 metres. Following data acquisition, the well is now producing gas from the Slochteren reservoir at a gross rate of ~800,000 Nm3/d (~5,080 boe/d) with the other horizons currently shut-in for reservoir management purposes. Following the completion of drilling and intervention activities on the Q10-A field, GROSS GAS production has reached approximately 2,000,000 Nm3/d (12,700 boe/d).
Commenting, Andrew Austin, Kistos' Chairman, said:
"One of the key attractions of the Kistos portfolio is the significant near-term upside potential and I was delighted when I was able to announce the extremely positive results from the appraisal well in the Vlieland sandstone. This success continued with the positive result from the sidetrack of the Q10-A04-A well, which has added materially to our production at a time of high gas prices. I am now looking forward to reporting the result of the Q11-B appraisal well in the coming weeks."
Its all there you just have to read it.
Kind regards Sft
@YoungJun: "Gas not oil where the money is at just now."
You clearly haven't been in many oil companies over the past few months... BP, I3E, GKP and literaly every US/CA oiler...
OK, you say that Kistos production is currently 12,700 boe/d. Presumably there's an RNS giving that figure somewhere.
I think Serica was doing ~28,500 in Nov 2021 with Mkt Cap £645m, while Kistos Mkt Cap is £340m, but with less than half the production? What gives?
Current production is around 12,700boepd nett to Kistos. Production costs are remarkably low and the cash build is insane.
Your research clearly hasn’t got as far as working out that the financials are from period up until take over of TONO. So full years won’t be until Mar 22. Gas not oil where the money is at just now. Unmanned platform low emmisions etc
You guys clearly have never used a filter.... If you're investing in UK, US, CA stocks, you'd have thousands of companies. Stocko is a good first filter. Clearly you always have to dig deeper for fast moving opportunities. FYI. I came across KIST in the Berenburg discussion which I found in Stocko...
Why is Stocko rubbish? They just present the LSEG/Refinitiv data?
For stable companies, they're usually spot-on. For rapidly evolving companies, it's usually out of date, but I wouldn't call it rubbish if the company fails to update Refinitiv with the real balance sheet...
Looking at the Corporate Presentation, (Production Forecast Overview), it looks like the 2022 guidance is for ~8,000 boe/d. 2023 guidance looks like ~28,000 boe/d. While Market Cap is £340m. From memory, I3E guidance is ~20,000 boe/d, while market cap is £156m and they're promising at least 8% divi.
I'm missing something here. KIST is more than twice the market cap of I3E, but has less than half of the current production.
You do know that the info that Stockopedia is rubbish, i wouldnt be using their analysis to make investment decisions.
Like CAINO says, look at the last RNSs - everything is there
Cane,
Read the latest Interim Results and Corp. Presentation on the website, forward P/E should look something like 1 from the end of March when our hedged production ends, based on current DTTF prices.
Regards
Caino
Have come across this a few times, but never invested. I see today that Berenberg likes it...
So tell me. Why is it worth so much? Based on Stockopedia, I can't see any revenue, though there's an estimate of £71m for 2021 FY. Forward P/E looks like 39.2. Pretty expensive. Why is this better than Serica, I3E, GKP etc, which all make solid revenue and are dirt cheap?
What am I missing here?
Not meaning to be negative. Will do some more research if it looks vaguely interesting.