Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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I suspect interest will pick on this…. Happy to accumulate for now
Thanks aim999. Good article that very well highlights (or reminds us) that Energean's business model is based on long term contracts that shields shareholders from the volatility of oil and gas prices and hence maximizes the chances of a steady sustainable dividend. As popular wisdom says "10% every year" is definitively better than "20% maybe for maybe a couple of years". Lol.
https://www.thetimes.co.uk/article/steady-does-it-as-cash-keeps-flowing-at-energean-cndncc9h3
Declaration of quarterly dividends in line with previously communicated policy
o $50 million per quarter initially, rising to $100 million per quarter following achievement of near-term
targets
o Cumulative dividends of at least $1 billion by end-2025
o Post-2025 target to maintain a progressive dividend policy, underpinned by existing reserve volumes
After this morning's rally, current market cap is below $2.7 billion
Does look interesting + big dividends (and the promise of further big increases)
Is the East Mediterranean the new North Sea? Looks like it looking at the statements from Abu Dhabi National Oil Co (ADNOC) and BP that said they intend to form a new joint venture as part of the deal that will be "focused on gas development in international areas of mutual interest including the East Mediterranean."
https://www.reuters.com/markets/deals/adnoc-bp-bids-interest-israels-newmed-energy-2023-03-28/
BP and Adnoc buying into NewMed. Fill your boots.
Quite a move this morning. Anyone know what has triggered it?
Agree all round - undoubtedly one of the rare, relatively undisocvered FTSE gems (and with a decent divi). Future looks good.
Great set of results, shame about the sizeable windfall tax in Italy which did materially affect the results. It should push the sp to the £14 level now and deserves to go higher too !!!
Results this week which I am hoping will be good let’s hope the initial issues have been resolved . I have just re read the last trading update and note “ Publication of Competent Persons Report ("CPR") to certify volumes, expected in 1Q 2023 and expected to include approximately 30 Bcm of 2P reserves and 37 bcm of volumes in nearby de-risked structures.“
We are still waiting on this . So as I said a big few weeks ahead plus the FD on Olympus area with concept decision. Last update was down beat I am hoping far more up beat this time.
The markets are under a lot of pressure now with the 2 banking collapses in the US , everybody is worried about a repeat of the 2008/Lehman situation. I see it as a buying opportunity and lets not forget that a big chunk of the shares are owned by Israeli entities and they dont often loose money. The yield is great and with gas being such an important fuel for years to come, there is also a pretty good chance the co may be bought out sooner rather than later !!!
My comment was in sarcasm I agree it should be going up. However many shares have been called "great buying opportunity's" only to never deliver. That's the more likely outcome at this rate.
Rubbish, this comment is not the reason why the sp is gradually going down. This is a classic reaction of a sp going down in anticipation of a very good trading update, rthe divi payment and the regular flow of good news. It should be going up and instead it gradually coming down. We should treat as a great buying opportunity imo !!!
Please stop it with the good news you are killing this share price.
Another symbol of Israel’s progress to greater energy independence based on offshore resources in the Mediterranean. Energy independence means sovereignty and could be a goal for all countries. Energean could help Greece and Italy for example.
https://valve-world.net/israel-makes-first-ever-crude-oil-exports/
https://www.bnnbloomberg.ca/israel-exports-oil-for-first-time-with-cargo-heading-to-europe-1.1883710
"Energean PLC said Thursday that it has reached a preliminary agreement with Shell PLC to explore a decarbonization solution in Egypt.
The FTSE 250 oil-and-gas company said the agreement will address a major carbon capture and storage, or CCS, feasibility challenge and will focus on the decarbonization of Shell's Idku liquefied natural gas marine terminal on the Mediterranean.
The company said it will capture and store the carbon dioxide in a depleted reservoir in the Abu Qir offshore concession which Energean operates.
Future development stages will allow the facility to take emissions from other industrial emitters such as fertilizers, it said.
Energean Egypt has entered into a memorandum of understanding with Shell Egypt, the company added.
"Energean will build on its experience in designing a CCS solution in a depleted hydrocarbons field that it has operated for many years, mirroring the process ongoing in Prinos, Greece," it said.
Energean shares at 1014 GMT were up 1 pence, or 0.08%, at 1,233 pence, with Shell up 4.95 pence, or 0.2%, at 2,560 pence."
Dow Jones Newswires: Feb 16, 202311:34
Nice bonus.
I thought the latest td was really good yet the sp came down substantially !! no matter, at under £13 i see it as a buying level.
I thought directors could not deal shares when news was imminent? Surely some news on the latest drill is due?
Yes, arrived today.
Not yet Stoodgie . AIS has the stenna a ice max a day outside the Canary Islands. No results of Hercules yet . My Gut says duster as we have not heard anything and I expect it to be incorporated into next update. I hope I am wrong. Cheap as chips price and upwards from here. I genuinely think we are onto something special here.
Has anyone received payment yet?
I hope everyone took advantage of the over cooked drop . Hercules well news before Xmas . Can we do 6/6 I think we can . Let’s go Energean