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Just type KISTOS as if you're searching for a name. click and join
Looks strong. Plenty buyers. Natural gas prices rising sharply
On Thursday London Value Investing Club will discuss Kistos and European Banks.
I don't have a position in the company, but I am thinking of it, and I like the idea of having exposure in European gas prices
Oops. Here: https://tinyurl.com/5x7evxw4
*************kistos - this should work
Download the App and search for kistos.
Lost time i put the link on here i got banned!!
Thanks Oilman - how does one join the Kistos telegram group please?
The telegram group chat is highly informative with lots of very good info shared by many. I find the telegram group chat much more informative then any other online forum like lse or ADVFN.
That’s fair. I’d just say a shareholder group text is very different. Almost everyone in there is only involved because they want the stock to go up. And a small fraction of the members account for the majority of the activity. It’s not a random rumor mill lol. There are also people in the telegram group who work in the industry and are boots on the ground for LNG industry in Europe and Middle East for example, which is highly relevant to Kistos re: nat gas prices. I can’t find that kind of perspective or info anywhere else online as it pertains to Kistos shareholders.
Telegram is anonymous too... you only need a phone number to set up an account I believe?
With telegram you can post anything you like, truth or fiction, and then delete it later. A rampers paradise...
With this forum you can't delete your posts which at least leads to some accountability.
But as I said, if it works for you good luck with it.
As opposed to an anonymous online forum like this one? The telegram group is full of Kistos shareholders, and News usually gets posted there first ( for examples, updates related to the potential LNG facility strikes in Australia)
Idkmybffjill,
From the content discussed I would guess it was recorded in early June of this year. Each to their own and all that but I would not be using an encrypted messaging app to gain investment insights...
dyor
The Kistos telegram group members said this interview is not recent?
Thanks for sharing Maverick7,
My takeaways.
AA very confident we will not be paying any EU solidarity contribution tax for 2022 in the Netherlands, he's confident that the threshold for Kistos to be liable for the Solidarity Contribution has not been met. 47m euros provisioned in the results.
Edradour West FID this year, if we proceed we'll be producing next year, reserves 3-4 mmboe net to Kistos.
Glendronach FID to follow, a positive for the project is Shell buying into the Victory discovery which will feed back to the Shetland gas plant too.
Buying a ready made business in Mime saved around £20m of the costs of entering Norway. When first approached in September to buy Mime by Jeffries they were told they'd have to give Bluewater their £135m equity back... we walked away and eventually paid nothing when re-approached at Christmas. He feels we bought Mime at just the right time, the darkest hour is right before the dawn is his feeling.
He was keen to point out the tax credit differences between the UK and Norway. In Norway you receive back 78% of what you spend on exploration and development regardless of whether you are a tax payer or not. In the UK you can only receive a credit if you are already a tax payer.
The Conservatives have killed the UK North Sea and Labour have nailed down the lid on the coffin. He's still keen to invest in GLA because we own the infrastructure, but no big deals in the UK.
Looking at deals inside and outside europe.
Highly likely the dutch bonds will be redeemed.
If they can't find a deal its not because they are rubbish, its just that those deals are not there. In that case we'll get our money back.
UK business worth more at the EPL floor price for gas than it is today.
He's very confident that Kistos will be worth more money in five years time than it is today.
aimo
From the FT:
European natural gas prices surged almost 40 per cent on Wednesday as the potential for disrupted global liquefied natural gas supply from Australia spooked traders betting on further price declines.
Prices on the Title Transfer Facility, the European benchmark, rose to more than €43 per megawatt hour, up from almost €30 on Tuesday, reaching its highest point since mid-June.
The increase was triggered by reports that workers at important LNG plants in Australia were planning strike action in a fight for higher pay and better job security, with market movements exacerbated by some traders closing out bets that gas prices would fall.
The move highlights that despite gas storage levels rising close to capacity in the EU, the energy crisis that has roiled the continent for almost two years is not yet over, and markets are still nervous about the vulnerability of supplies.
While Australian LNG supplies rarely flow directly to Europe, the EU has become increasingly reliant on global seaborne cargoes of LNG to replace Russian supplies cut since the war in Ukraine.
Analysts said the markets remained wary of any potential supply disruptions, even though prices are substantially lower than the peaks of last summer when the slashing of Russian pipeline supplies propelled gas to record highs above €340/MWh
I believe it’s also because of Mime burning through cash?
Good luck here!
RSI 43+ MACD 0+ break, support on 20d, 50d break, just south of a 3m point of control, well supported on anchored VWAP from 13th july........bots love this they will trade this up now.
That’s what berenberg said in their last note. I guess this is why it’s lagging so much? Suppose taxes and capex phase or impacting
Many thanks PiratePete,
The more news the better a far as I am concerned, there were a few bits and pieces I wasn't aware of, so many thanks once again for posting.
The link to our bond listing on the Oslo Bors where all regulated news releases are available is below
https://live.euronext.com/en/product/bonds/NO0011142036-XOAM
Kistos Energy Norway AS (KENAS) update for the second quarter of 2023
OPERATIONAL
Since the end of June 2023, production from the Balder Area has averaged approximately 2 500 b/d net to KENAS. However, partly due to a planned maintenance period, which was completed on schedule in June, the average rate net to KENAS in the second quarter of 2023 was 1 684 b/d. Output was positively impacted by the restart of the riser at Ringhorne in May. This was temporarily shut-in during the first quarter and will be permanently replaced in the third quarter during the planned Balder FPU turnaround. A new well at Ringhorne was brought on stream during the quarter and production efficiency for Balder/Ringhorne improved to 83% from 80% in the previous three months.
The upgrade of the Jotun FPSO for the Balder X development project is ongoing and the re-float of the vessel out of dry-dock occurred in late in June. This enabled the safe completion of the heavy-lift installation of the turret, turntable, and gantry in July. The operator (Vår Energi ASA) has reported that the upgrade of the FPSO remains on critical path and that it is focussed on securing sail-away in the second quarter of 2024 and production start-up in the third quarter of 2024.
Balder X drilling activities are progressing well with seven out of 15 wells completed. The last well was the first multilateral and represents the longest reservoir section ever drilled in the Balder area, with a total length of 1,153 metres in the reservoir. The project’s subsea equipment has been delivered and the majority is already installed. Two of the six offshore installation campaigns planned this year have been completed according to plan.
The operator did not provide any update to its 2P reserves or the Balder Area during the period. As of December 31, 2022, KENAS estimated its 2P reserves were 24 MMboe.
FINANCIAL
During the second quarter, 3 cargoes of crude oil were loaded from the Balder FPU. Net to KENAS, these totalled 185 kbbl, which realised an average price of USD 72.74 per bbl. At the end of the period, KENAS had cash at bank of 8.0 MUSD, of which 1.1 MUSD was restricted and had drawn 14.4 MUSD under the terms of the revolving credit facility from its parent company, Kistos plc.
A near tripling of production in Norway and the UK and steady production in the Netherlands make our monthly production figures look far more healthy at just over 9000 barrels per day.
Norway (Oil)
Total production of 0.095092 millSm3 or 598,129 barrels of oil up from 0.037063 millSm3 in April. That's 19,294 barrels per day. Our net 10% interest = 1924 barrels per day of oil.
UK GLA (Gas)
Total production of 112.4 mmscf/d or 19922 boepd up from 43 mmscf/d in April. Our net 20% interest = 3984 boepd of gas and 180 barrels/day of oil
Netherlands (Gas)
Total production of 25.338.692 Nm3 or 153,208 boe up from 24.857.296 in April. That's 4942 boepd. Our net 60% interest = 2965 boepd
aimo dyor.
It's an interesting consideration, I think he may have but following the WFT, UK OnG direction (despite Sunaks recent about turn, Labour will be in and they will turn their full support to windfarm development ONshore) and AA expecting "Mime’s capital expenditures to reach up to $130m for 2023" it's a bridge too far, IOG currently loosing £28.45m per annum ( as I read it) what would turn that around. More drilling/ exploration risks?
I am not saying your wrong as if he stepped in with a sound plan and support from more lenders it's not impossible but his comments in April " “Kistos has evaluated several transactions in the UK and Dutch sectors, but the imposition of punitive windfall taxes and a lack of fiscal certainty have meant that both countries remain difficult places to commit capital and ensure continuity of shareholder returns.”
And commitment to Mime plus more costs in NL AND consistant / recent drilling fails would have bruised even him.
Again I think the UK instability of Tory and Labour policy is the final straw for him.
Would be nice though, but another item that has changed is even the carbon neutral gas (that AA was promoting and selling at a premium) is irrelevant to the Co2 / green / narrative now.
IMHO of course.
I sold half my holdings in Kistos, not at the peak only to much after. Would like to have come back in at the 230p level again but and too committed to older speculations at moment. Hopefully, one being GKP, is resolved before Kistos moves up too much again.
Rgds Sft
I believe Andrew Austin tried to buy IOG in the RRE days, i wonder if he will try again, looks like they are in deep trouble with default on their bonds looking like a possibility