Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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Hi - prior to the RNS, this information was available on various websites if you used Google and just searched for news in the past 24 hrs. On FT website amongst others.
Standard Life - maybe a fallout from Truss economics and its shambolic affect on the UK pension sector!???
Hi RWT2
Perhaps a dumb question, but how do you know this?
Cheers
James
Hercules well results due before Xmas and continued ramp up ongoing . I am very bullish on Energean and I am sure this will bounce back . This is now way off the 16.20 high and time to consolidate . Let’s go
It relates to an institutional investor placing 5.5m shares @ £13.65 each (so £75M worth dumped at a discount).
Can only guess that the drop relates to Biden’s comments regarding a thaw in dialogue with Putin and ultimately a resolution to Ukraine. I’ve taken the opportunity to invest. The fundamentals here seem most positive and ill take it as a hedge to ‘nice words, no action’ on the geopolitical stage. Ultimately no one is going back down the road of over reliance on Russia.
Not sure but accounts were published 1530 afternoon but no reaction then . No major surprises I can find
Why is it down so much on open?
Is this company really flying under the radar with so much development and potential? It's very quiet here.
obviously couldn't resist the recent strength of Energean. The performance of abrdn has been poor of late and we would have been one of their outperformers. It's nice to have a reason for a dip rather than something you have to guess.
A rather pleasant RNS to start this morning...
This looks like it will be ticking up nicely in the next few weeks. Ramping the gas flows up on the wells by all accounts.
The president of Israel was on a visit to the FPSO yesterday. Maybe trying to get publicity as they have elections this week.
By all accounts testing on the wells is going well and will continue for the next few weeks.
RWT, I think a lot of the last couple of days has been priced in. The share price has risen and as you say against a backdrop of falling gas prices.
I didn't read Peel Hunts comments so can only speculate on their meaning. My thought would be, wrt 'transformational', is the ENOG has transformed into itself from a smallish O&G company with a prospect and a project into a largely gas production company paying a dividends, transforming its earnings and profile.
I bought into this quite late (price circa 1300p) but the reason I bought in was I believed there was still a lot of potential upside. Was I wrong on this? I would have thought an Israel / Lebanon maritime treaty plus news of 1st gas would have been monumental announcements but the uplift has been minimal. I appreciate gas prices are off their high, but Peel Hunt are quoted as saying Energean are "on the cusp of transformation" - this was a recent statement so indicates still plenty to come. So what will it take for them to transform?
First gas from Karish announced today and Israel / Lebannon deal being signed tomorrow.
The only way is up..
Looking like the signing of the maritime agreement will take place on the 26th or 27th uner the auspices of the UN.
'Israel has said that, once the maritime deal is signed and delivered, it can begin extracting oil and gas from its Karish field and export it to Europe within weeks.'
It got onto their [CNN] main news and was very positive. The ME is never straightforward but Lebanon does need income and cheap energy will help their whole economy. The US have immense power and are manipulating in the background. They want it done.
Jefferies raises Energean price target to 1,650 (1,300) pence - 'buy'.
Fingers crossed...First of a few.
Agree. It is in all newspapers now (CNN below for example). Karish is a game changer for Energean. To quote Energean Sep 8 announcement: "We are concurrently raising our medium-term targets to annual revenues of $2.5 billion and Adjusted EBITDAX of $1.75 billion, underpinned by production of more than 200 kboed".
Reaction is muted, because it is already priced in? Alternatively, because the market is waiting for Israel to ratify the agreement as Natanayu has shown hostility towards the treaty and could bring it to the Supreme Court.
We'll soon find out .
https://edition.cnn.com/2022/10/11/middleeast/lebanon-israel-maritime-agreement-intl/index.html
I'm hoping it will build over the next few days...
Hi - would you have expected more of a reaction to this?
https://www.theguardian.com/world/2022/oct/11/israel-lebanon-historic-maritime-border-deal
So far nothing in the share price would imply this is important or that it wasn't already priced in.
What did everyone else expect?
Yes the bazzar or even bizarre mentality always seems to apply. I'm hoping it ' handbags ' and the deal will conclude ASAP. US, Europe, Israel and Lebannon all want this done ASAP so it should happen.