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Last I checked we are on course for a 12% dividend in 2024 although this may have changed with the geopolitical upheaval in the ME and with the investment / farm-in news. Things move very quickly though, just this past week the oil price has rallied nearly 8% on the deteriorating situation in the Red Sea, somewhat zealous headlines pushed by Middle Eastern media outlets to spur on the price of oil (no doubt there are vested interests) and welcome relief for the oil producers who were just a month earlier contemplating sub-$70/bbl prices.
So the loan was converted to shares at 838 and then sokd by Kerogen for 938?
Should these 2 RNS have released the other way round?
Matthews Riggs, CEO of Energean, highlighted the importance of this development for the company’s growth as a leading independent gas exploration and production entity.
“This is a significant step in our further development as an independent and leading gas exploration and production company. These assets are particularly attractive to us, because we understand the core geological, commercial, and political issues that drive the region, we have proven success in developing substantial gas sources intended for local markets, and there is an adjustment and complement to the portfolio here our existing and supply potential to additional markets,” he said.
Energean getting a bargin on a 1Tcf+ gas asset which is ready for production (all contracts signed with Moroccan government). Energean taking a 45% stake, extending to 55% dependent on drill results.
Drill hopefully happening in Q2 2024 (April-June).
A friendly reminder that today's drawdown is because of ex-div (30c) and Chariot is getting blasted -20% because how Energean negotiated this deal. Cash is king, and Energean has lots of it.
Is this not just due to ex-div today?
It's a bad deal for CHAR I suppose but they had no choise. They couldn't develope on their own .
The market/ investorst do not like the deal looking at todays drop in chariots share price.
7 December 2023
Chariot Limited
Partnership Agreements Signed with Energean plc on Moroccan Offshore Licences
https://www.lse.co.uk/rns/CHAR/partnership-agreements-signed-with-energean-plc-enkku71n7f3k4fi.html
Morocco Country Entry and Farm In to Gas Development.
https://www.londonstockexchange.com/news-article/ENOG/morocco-country-entry/16241569
Court awards Energean full Karish North rights worth $3.4b.
After this ruling ENOG shares are worth a lot more than the current price.
Seems its being shorted from the US also.
It seems it's not a high risk share anymore but certainly a high reward one IMO.
No Thursday.
A high risk and a very very high reward possibilty IMO.
XD TOMORROW ?
Excellent news and the sp looks much better already.
Energean mentioned as a Mediterranean champ in Financial Times, being essential to Israel for the coming decades.
Sad to see people selling out at 800p only 2 weeks ago. Congrats to everyone who resisted and held, or increased. :)
"Court awards Energean full Karish North rights worth $3.4b" Link: https://en.globes.co.il/en/article-court-awards-energean-full-rights-on-karish-north-1001463727
"How one gas producer kept Israel’s lights on" Link: https://www.ft.com/content/a45e366d-8193-4243-9ea5-a79db82f28dd
Even if that takes a while, there's a dividend of nearly 3% per QUARTER on it.
BNP Paribas reiterates approx. +70% upside this morning, after the Q3 report yesterday. A friendly reminder that both JP. Morgan and Jefferies issued 1500p & 1555p i.e +65% upside in October, respectively.
Israel accordingly keeps fossil fuel infrastructure in the Mediterranean heavily guarded. “We say that whenever a new offshore installation is approved in Israel the commander of the Israeli navy throws a party because that means he gets a couple of new warships to play with,” Sagi Ganot, the Ministry’s head of upstream regulation and trade, joked on a webinar late last year.
Guess they bought a bit too early as prices got a bit cheaper at points over the last month , but looks like the dividend is great at these levels.. and the price is near £9 today.. I look forward to my first dividend.
Just look at what several insiders did on the first day the market was open after the attack. Surely they understand that this was a steal. The assets are national security: 16 years of gas supplies, all for the local market.
Follow the insiders.
10 Oct 23 Matthaios Rigas 50,000 UK£9.10
10 Oct 23 Karen Simon 50,000 UK£9.26
10 Oct 23 Efstathios Topouzoglou 50,000 UK£9.10
10 Oct 23 Panagiotis Benos 27,958 UK£9
+10% since several guys here said we had huge downside, not to mention how everything was to be blown up :) Always buy at peak fear, gents.
Where is the low ??
This time next year it will be £12 paying that lovely divi at 12% today with a 50% upside.
What an opportunity these horrible situations present themselves to make easy money 💰