Hand sanitizer and surface cleaner company Byotrol had a strong 2020 and are confident about 2021 Watch Now
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depends on the RTO
40k at £5 200k
“Interesting that options will scale as % of issued share capital in company”.
I suppose 40k shares isn’t a lot if they issue 100million for example.
Interesting RNS and a big clue about future plans ;-)
New business development manager joins company and his bonus based on performance post-RTO.
Interesting that options will scale as % of issued share capital in company.
The number of Nil Cost Options shall be adjusted at the completion of the first Reverse Takeover ('RTO') of the Company, being an event marking the first material acquisition made, to such number as to represent 0.4% (decimal four percent) of the issued share capital of the Company following the RTO, subject to the value of the award not exceeding 200% (two hundred percent) of the recipients adjusted base salary at the time of the RTO.
-- in planning?
-- BB --
Again welcome to a grown up investment - min free float and a proven BoD coupled with a below NAV market should see you in a good return...So many opportunities in a depressed market that will eventually see multi baggers. GLA
Welcome aboard shirazkhan39.
It's clear that North Sea M&A activity is waking up again, and so Helge will hopefully soon give the order to weigh anchor so we can finally get this boat sailing.
Hi everyone new to this board. Been invested for a while and hold a fair chunk of these. Just wanted to thank those who have been posting over last few months, been very informative. Wanted to
Introduce myself also. Im big in tils so been loading on that last few months so mainly post on that board. Fully loaded on that now so will focus more on this and my other main holding (goldstone resources). Notice one or two from here on that board too. Look forward to the conversation and the banter. Hopefully our deal is not too far away. As everyone has mentioned the bod are second to none so its only a matter of time. GLA
Fingers crossed you're on the mark, as I'd love to see that too, but we'll see I suppose. Time will tell.
Mozza, let me help your gut feel better.
80% of companies DONT have the cash or backers to bid big.
Prime example is PMO truing to reduce the BP transaction another $90m from $670m to $140m ......
Let me tell you right now LBE have $140m and more if they want to use it.
$100m got you some peanuts before covid and maybe a few pistachios.
Now $150m can get you a 30,000 bopd producing asset.
A 5,000 bopd asset will cost $30-40m. Not the type I Hope Managment go for. I want them to show ambition. Assets are at once in a lifetime sale prices. HH needs to go big.
My gut feeling is that we were looking at 3-5k bopd, but that now we are maybe looking at double that (6-10k bopd). But that being said, I will be absolutely delighted to be proved wrong.
The thing is, I suspect that ultimately these larger 10k bopd or more assets will be swallowed up by larger, established companies.
Are also looking to sell spirit energy and they produce 70k bopd for their % and the other 30% is also up for grabs that does another 30k bopd.
We could easily buy the 30% and suddenly be a mid tier producing 30k bopd. Would cost us £250m probably.
There are so many assets on the market the BOD are literally spoilt for choice.
Seriously I for one can not wait for that day we Suspend and the RTO is announced.
Majority of fields and assets are producing many bopd and just think the bod took so many years just to get Faroe towards 15-20k bopd and today they can simply buy an asset that produces more than 20k bopd costing them so much less than the exploration costs and time Faroe took.
It’s why HH said “ it’s unfinished business “
I really feel they want to get LBE towards 50,000 bopd by the end of 2021 and first half of 2022.
That would be grand. From what I cna find Scott is doing just under 40k bopd, with CNOOC having about 80% of thst, or ~31k bopd.
The thing is, I can only see them winning it if they bid for it and take the decommissioning on. Now it may be they cna do a Rockrose and push that out, but I think thst it might be a bit big for them perhaps? Particularly if4 the likes of Enquest are circling too.
I'll say again, with recent announcements that CNOOC are looking for a buyer for Scott, I think LBE will (and have been) looking at GPA. If Scott is selling for next to nothing (de-commissioning costs), they'll get current production for cashflow, huge development potential and the hub concept they keep mentioning. And before LBE days, as FPM, they were dead keen on Perth.
Watch this space...
Further speculation: but if you look on Var Energi's website below, on their licence map, you can see their non-operated partner share fields.
I reckon this must be the kind of thing we are after and I really wouldn't be surprised if we're even directly looking at some of these owned by Var Energi as they'll have acquired some minority interests here that they'll want to divest from, as per other links.
WS. Ofcourse it’s a buyers market and an amazing one to.
Just think that $150m would have got you a quarter of what it will get today 6 months ago .... today’s your basically getting 70% off asset prices that will next year be worth that 70% more. Crazy markets
Now this is entirely speculative, but what would make sense would be for LBE to think about buying stakes in some of the Equinor operated assets off of Norway:
Exxon sold more than 20 minority stakes in these Equinor operated fields to Var Energi about this time last year, so it may well be that these are back for sale:
From the above article, dates late June this year: "Var Energi is Norway’s largest non-state oil and gas producer, having bought Exxon Mobil Corp.’s assets in the country in 2019. At the time, Var said it planned to dispose of some of the assets acquired through the $4.5 billion deal."
I'm trawling through the results again, presumably Daveri this hub strategy could be the synergy your contact suggested:
"· assets with identifiable upsides via organic growth through further field investment (infill drilling etc.), potential near-field exploration and with follow-on opportunities to deliver a hub strategy;"
The implication being that there must be two separate assets reasonably close together that they feel look attractive.
I wonder actually if they are looking more towards Norway, because "UK" only appears once outside of the accounting jargon, while "Norway" appears four times and has a random bit included that adds nothing unless it's a serious consideration:
"In Norway the "see to duty", a central part of industry regulations, allows and requires a non-operating partner to have significant input into the asset partnership."
I don't see a word of what the lad posts now :)
Chanceman, you have been filtered for being intergalactically irritating.
Mozza don't take life too seriously. It's possible that me and Helge aren't best buddies. Possible.
Sometimes people on the internet aren't being 100% serious or truthful in our commentary.
Anyway Helge, if you're reading this, let me know when you want to go for that pint at the White Swan. You're buying.
January 2020: Premier agreed to pay $625 million to BP for the deal.
June 2020: in light of market changes the deal was repriced at $210 million.
September 2020: Premier want another $70-$80 million discount.
If agreed, that would mean that a sale worth $625 million in January is now worth $140-150 million.
That's a discount of over 75% on the price only 9 months ago. Food for thought! It's a buyers market.
That's how I read it.
A few weeks ago, I emailed them and had this back, which I'm sure they wouldn't mind me posting here but basically says the same thing:
"Thank you for your note and empathy and it has indeed been a frustrating time for us. I probably don’t need to tell you that the pandemic and oil price collapse has taken a heavy toll on deal making this year, with transactions being put on hold as companies focused on operations and cost reductions. Regrettably this has pushed back our expected timing.
However we remain active, leveraging relationships and creating business development ideas and expect to see increased activity in the second half of the year. We remain confident in the strategy and we will disclose to the market as soon as we have something material to announce.
Commercial Director & Company Secretary
Longboat Energy plc"
“deals under negotiation to be put on hold“.
I also noted the wording here Mozza. It doesn’t say cancelled or fallen through but on hold: they might still be expecting them to happen but are also looking at other opportunities in the meantime.
I completely agree with that Munch.
Fingers crossed they can get something good across the line soonish!
Any delay with deal making is saving the buyers hundreds of millions in renegotiations.
There’s too many to list on here that have saved crazy money, so it makes me even more confident that the BOD are playing chess with the asset holders until they cave in.
I think the recent pull back in oil and negative sentiment will help us get the deal over the line.