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I was just thinking the same Vampirekitten!
Could be the case news is on its way and the market doesn't like it !
MozzaBezza is someone saying news is imminent again.
Yeh it really, really looks like news is on its way! :(
Although, that being said Fenja would have to come under LBE's bolt on exploration, because its not actually producing yet.
It would make sense for them to be looking at some of the Suncor assets, as Faroe used to own some of them.
"Fenja partial divestment (2018): sold 17.5% stake to Suncor in 2018 for $54.5m (including tax), reducing capex by $225m" - 2019 presentation.
Hi Daveri,
Do you have any details? We are talking transaction news presumably rather than just share incentive plan news, etc
All the very best,
I am sure this will come good. Experienced board have unfinished business and point to prove after Faroe were taken over. They want back in game!
haggis, it was either BP or Energean.
Top heavy here. Position is taken. Hopefully Davie will be right and the news will land this week.
Craig David has spoken....
Keep your fingers crossed it is for real this time!
p.s BP is a solid recovery play at £2 a share. However would need to be patient as who knows when global economy will start to bounce back.
brave Oilman - hopefully it turns out a good trade...too much of a gamble for me!
News this week? It’s certainly long overdue!
Bought BP today. £50k. Let’s see what the next few days bring.
I thought Suncor's North Sea assets looked like a potentially good fit as they have both UK and Norwegian assets they are looking to offload. Question of whether Longboat would/could be looking to get such a lot though - zooming straight to mid-cap from a standing start.
But why not? Back in Jan HH said it might only take 2-3 deals to become mid-cap. A lot has changed since then though.
both would be good fits.......No?
Suncor (Golden Eagle) ?
"Nick is very busy at the moment!"
UK North Sea then. Anything to do with Repsol Sinopec out of interest?
Well many of us have been waiting a long time now, it would be great to hear something of interest. Starting to fall asleep here!
Nick is very busy at the moment!
Not bad news! GL
Good news or bad?! Material news or more of the same?! ;-)
I'm fairly sure we should get some news this week! ALB
Oil may be out of fashion but all but the most hardened eco warriors are beginning to accept natural gas as a transition fuel. Not great but compared to coal and oil, far cleaner.....
No matter what people's objections and principles, homes need to be heated, fuel is needed to generate electricity etc.
If we buy assets that produce mainly gas rather than oil, we are on to a winner, and of course the price is holding over $3, now at its highest since Jan 2019.
> Haggis - I think it’s very difficult to view anything as a 3-5 year investment to be honest.
As I see it the 2x reasons to invest are :
1) Experienced board with contacts in North Sea (norway and UK) and ability to raise finance
2) Longer-term oil price recovery as world economy recovers from covid
Both of these will take time. However assumuning board are successful in turning current £10 million seed investment into mid-cap oil company (~£200 million) then investors will be well-rewarded. One advantage LBE have over other oil companies is they are starting from position of zero-debt. Right now it makes more economic sense to acquire producing assets than take risk of exploration via drilling.
> Just look at BP .... has lost some £60billion in value inside a year.
Oddly the reasons for BP decline are what make this a good investment. Oil industry has always been cyclical. Right now we are at bottom of a dip (.... which should make it a good time to purchase oil fields?). Oil is currently out of fashion, but world economy remains addicted to it.
Haha let’s see what the deal is first before we can speculate on the market reaction.
I think there will still be a place for oil & gas companies even though the sector is out of favour, particularly with Shell, BP and other majors diversifying/selling assets.
Haggis - I think it’s very difficult to view anything as a 3-5 year investment to be honest.
Just look at BP .... has lost some £60billion in value inside a year.
I know the virus has damaged the world and that’s my point, decent companies are no longer a good bet longer term because too many macro events dictate markets and with many predicting a possible crash or pullback soon I guess investors way of investing will change along with the market patterns.
I think oil will rebound and drive up towards $55-65 and I think that’s when the time to sell oil investments will be, gas on the other hand is better but either way the market is primed for a correction .... I think there will be many bargains to be had so a RTO and re-list with 50-100% will do me for now.
The initial deal will be taken with excitement only for the market to pull it back down.
Just my opinion.
As an aside - best to ignore share price until deal is done and company has real fundamentals. The market cap here is small (£10 mil) and with literally 1 or 2 trades a day only a tiny % of company being traded. The wide spread between bid and ask make it impossible to trade.
Best to view this as 3-5 year investment based on:
- management team having experience to do deal(s)
- price of oil rebounding post covid