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Maybe someone knows something that we don't
They aren't a holder. They have zero interest in Kistos
Goldman*
So you have a link regarding Goodman’s transactions in the stock?
Https://www.bbc.co.uk/news/business-66108553
Including a thinly veiled threat to move its listing to the US... which might just get the UK govt thinking more about encouraging O&G investment rather than killing it?
Whoever it is, looks like they are done
Where are you seeing a GS holding here?
Not sure, but I think we may have seen or being seeing the end of it today/tomorrow
For anyone looking ahead a few week/months the gas crisis is far from over and competition for supply is expected to heat up along with prices over coming weeks......interesting few months upcoming from the KiST sp current low.
Europe’s Gas Prices Show Shift in Risk to Winter Next Year
Mild weather, LNG have aided preparations for 2023 cold season
But region remains vulnerable to any supply disruption
(June 2023)
The spread between Europe’s natural gas prices for this winter and next is widening, signaling near-term risks are easing but greater uncertainty ahead...
https://www.bloomberg.com/news/articles/2023-06-08/europe-s-gas-prices-show-shift-in-risk-to-winter-next-year#xj4y7vzkg
Austria to Traders: Don’t Bank on Russian Gas Transiting Ukraine
No guarantees Russian pipeline gas will flow, minister says
Failure is possible even before transit accord ends
Austria’s top energy official has a message to natural gas traders: don’t bank on Russian fuel continuing to flow into the European Union via Ukraine.
Traditionally one of the Kremlin’s best and oldest gas customers in central Europe, Austria is redoubling efforts to reduce its reliance on Russia shipments, which still cover more than half the country’s demand. Much of the fuel transits pipelines crossing Ukraine, but that could change quickly, says Energy Minister Leonore....
https://www.bloomberg.com/news/articles/2023-07-04/austria-to-traders-don-t-bank-on-russian-gas-transiting-ukraine?utm_medium=social&utm_campaign=socialflow-organic&utm_source=twitter&cmpid%253D=socialflow-twitter-energy&utm_content=energy
Lol...
Https://twitter.com/BloombergNRG/status/1674743839691620352
European natural gas prices are set for their biggest monthly gains since last summer following the most volatile month for trading this year
Pressure on gas supplies mount
China is on track to be the world’s top importer of liquefied natural gas in 2023. Companies in China are agreeing to buy more of it on a long-term basis than any single nation, according to data compiled by Bloomberg News
China is on a natural gas shopping spree, and officials are happy for importers to keep striking deals even after a global energy crisis has eased.
The government continues to back efforts by state-owned buyers to sign long-term contracts and even invest in export facilities, in order to bolster energy security
The nation is on track to be the world’s top importer of liquefied natural gas in 2023. And for the third straight year, Chinese companies are agreeing to buy more of it on a long-term basis than any single nation, according to data compiled by Bloomberg News.
China is looking well into the future to avoid a repeat of energy shortages
https://www.bloomberg.com/news/articles/2023-07-02/china-is-buying-natural-gas-like-there-s-still-an-energy-crisis?utm_content=energy&utm_campaign=socialflow-organic&utm_medium=social&cmpid%3D=socialflow-twitter-energy&utm_source=twitter#:~:text=The%20nation%20is%20on%20track,data%20compiled%20by%20Bloomberg%20News
Energy boss says prices might spike this winter
Energy (gas) prices could spike this winter forcing governments to step in and subsidise bills again, the head of the International Energy Agency has said.
If the Chinese economy strengthens quickly and there is a harsh winter, gas prices could rise, putting pressure on consumers, Fatih Birol said.
He said this winter "we cannot rule out" another spike in gas prices.
"In a scenario where the Chinese economy is very strong, buys a lot of energy from the markets, and we have a harsh winter, we may see strong upward pressure under natural gas prices, which in turn will put an extra burden on consumers," he said.
He said he "wouldn't rule out blackouts" this winter as "part of the game".
"We do not know yet how strongly the Chinese economy will rebound," he said.
HTtps://worldoil.com/news/2023/6/28/norway-approves-over-18-billion-of-oil-natural-gas-projects/?oly_enc_id=3570E1126245E8W
Wonder if AA could be part f this?
Gas Is Here to Stay for Decades, Say Fossil Fuel Heavyweights
Natural gas was seen as a short-term bridge to greener energy sources, but increasing investment in the fuel is a clear sign that demand will remain for decades to come
https://www.bloomberg.com/news/articles/2023-06-24/oil-giants-from-shell-to-chevron-say-gas-here-to-stay-for-green-transition?srnd=premium-asia&sref=qDFwOhqX&utm_campaign=socialflow-organic&utm_content=energy&utm_source=twitter&cmpid%3D=socialflow-twitter-energy&utm_medium=social&leadSource=uverify%20wall
The share price is holding up remarkably well. IMO due to our diversified footprint in the UK, Norway and Netherlands.
Harbour down 2.5%
Ithaca down 1.75%
Serica down 3.5%
Kistos up 0.2%
Kistos is an Andrew Austin Company ...he likes to get bought out at a profit. Kistos has a low number of shares in issue and one way or other his track record suggests he'll find value for shareholders ....
True but, AA's struggling with getting any good results recently:
1. Significant Drilling costs in the Dutch sector (Q11-B AND side track for Q10-A-04 required "evaluations" combined with a drop in production figures
"In response to the variable productivity of the reservoir at the Q10 area’s P15 platform, Kistos is pursuing REGULAR interventions to maximise production with a programme of side-tracks.......results: is undertaking a "detailed evaluation" last set of drilling resulted in less than expected
PLENTY "evaluations" going on!
2. TotalEnergies has suspended production at Edradour, one of four gas fields in the Greater Laggan area west of the Shetland Islands, partner company Kistos said, as the UK gas hub shows signs of significant decline and higher water production.
3. Benriach Well a duster
4. Shetland gas plant need more production and its not comming soon unless so.e other operator strikes and ties in?
5. Walked away from its proposed offer to acquire British oil and gas group Serica Energy...
6. The WFT was a big kick in the .......but maybe all the above fails in drilling will give some tax breaks?
7. Mime petroleum: The consideration was $1, plus the issue of up to 6 million warrants exercisable into new Kistos ordinary shares, at a price of 385 pence each.
Mime will repay $75 million of its debt, and the enlarged group will assume the remaining $225 million.
A payment to Mime’s bondholders of up to $45 million in 2025 is contingent on certain operational milestones being achieved. The Mime debt being retained by Kistos equates to approximately $111 million.
8. No more mention of green credentials/ Aspirations and in fact AA " Not rolling anything out now as we have to"
Where's the good news Andrew? You have to get the Norwegian assets, financing and then actual income
from potential production generating cash...whe and how much is the finance deal going to really cost.
It's not easy out there at all!
I can not see much good news coming our way for a good while, we are looking a bit like a origami Tiger at the moment.
Rgds Sft
Just £2.5m to write down after tax.
A shame about the dry hole but we had to test it.
"Kistos' share of the cost of the well on a dry-hole basis is forecast to be c.€18 million pre-tax or c.€3 million post tax."
European gas prices double in 10 days as traders remain on the edge
https://www.ft.com/content/9265b042-6b19-460a-b946-5dd53b406544?ftcamp=traffic/partner/feed_headline/us_yahoo/auddev
US gas prices are also rising sharply, Henry Hub Natural Gas now at 2.6 up from 2.2 in a few days.
Article in Shares Mag this week on O&G sector, with a few mentions of KIST:
“Our list of worst performers in the oil and gas space includes two prominent names with assets in the North Sea, Kistos (KIST:AIM) and EnQuest (ENQ), reflecting the impact UK windfall taxes have had on sentiment towards the sector.
As Kistos CEO Andrew Austin observes, the first version of the EPL (energy profits levy) put in place by Rishi Sunak when he was still chancellor had a mechanism by which it would drop away if hydrocarbon prices returned to the pre-invasion levels. The updated levy subsequently introduced by Jeremy Hunt once he entered Number 11 had no such get-out.”
“Kistos has assets in the West of Shetland section of the UK North Sea and Andrew Austin says: ‘Taxing the industry is seen as a victimless crime but it is very short-sighted.’”
For his part, Austin says: ‘We went from making 65p to 20p in the pound. It is incredibly risky to invest in the UK right now, there is too much uncertainty to make rational decisions.’ The company has already added to its UK and Netherlands assets with an acquisition in Norway, which has a more stable tax regime and generous incentives for exploration and appraisal drilling, and Austin says he is ‘not ruling out anything out’ in terms of future deals in other geographies. ‘We can’t afford to,’ he concludes.”
European natural gas futures soar as much as 24% as the Netherlands is set to announce it will close Europe’s biggest gas site in October.
https://www.bloomberg.com/news/articles/2023-06-15/europe-gas-spikes-as-major-dutch-gas-site-set-to-close?utm_campaign=socialflow-organic&utm_content=energy&utm_medium=social&utm_source=twitter&cmpid%3D=socialflow-twitter-energy&leadSource=uverify%20wall