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When significant news does break, this will rise very fast indeed. Should be 30p now with small production and Sarawak on the horizon. Sarawak will have a farm in/down this year. Petros/Petronas want to move fast with 8-10 TFCs at play this would be ££ even with a 10% carry
Unveiling of next prod deal is key to starters
10kBbls/day deal then eyes on far east
When do we think this massively undervalued company will not be so
Mitch clegg as CEO makes me nervous with opportunity progression. I recall several revised RNS’s from his Tullow days that drove the share price down to 8p.
Nevertheless, a great opportunity missed on my part
Afrenta is probably around 7k atm. With scope to increase further from existing assets.
Huge potential there.
LBE at its current market cap is massively undervalued. The excellent posts from Zengas highlight this perfectly.
Afentra… auto correct
Agents currently has 6000 boepd production, Mcap £125 million.
Come on LBE. Easy 12 bagger on any significant production purchase here.
Unfortunately none of this helps today's revenue, profits and share price 😒
Thanks guys
Was not completely imagining it! Numerous discoveries off Sarawak and ongoing !https://dayakdaily.com/premier-offshore-sarawak-potentially-rich-in-gas-following-og-discoveries-in-2023/
Don’t worry you were about as accurate as Longboat’s exploration team have been!
Apologies may have got crossed wires there as that is south American offshore block. Got confused with the Exxon Sarawak news and collaboration etc. pardon me
Https://dayakdaily.com/petronas-makes-third-hydrocarbon-discovery-in-surinames-offshore-block-52/
Offshore Malaysia really hitting up with Petronas third hydrocarbon discovery just announced. This time in deep water 5000+ deeper than lbe block ( kertang 1000+) Not an overstatement to say this region offshore Malaysia is prolific in terms of discoveries. Lbe may actually be in right place at right time with this licence.
Mubadala off Indonesia excited about making a giant and game changing 2TCF gas in place discovery in water depth deeper than Longboats Block 2A which is in water depth ranging from 100 - 1400m with the proposed Kertang well location at 1,000m.
Kertang 9 TCF mid case recoverable estimate.
Multiple follow on structures.
Will be interesting once we gain a farm out from our current 52.5% to accompany us with Petronas and Petros
Updated 13 May 2024, 11:01
United Arab Emirates operator Mubadala Energy confirmed it has made a giant gas discovery with potential for more than 2 trillion cubic feet of gas-in-place with its Tangkulo-1 ultra-deepwater exploration well on the South Andaman gross split production sharing contract offshore Indonesia.
Tangkulo-1 was drilled to a depth of 3400 metres from a water depth of 1200 metres, just a few months after Mubadala made a major discovery with its Layaran-1 well, also on the South Andaman PSC. The operator earlier said that Layaran has the potential to host an estimated 6 Tcf-plus of gas although industry sources have suggested the figure could be higher.
"When added to our recent success at Layaran-1, this game-changing discovery promises to transform Indonesia’s and Southeast Asia’s energy landscape and demonstrates that South Andaman is one of the world’s most exciting energy plays," commented Mansoor Mohammed Al Hamed, Mubadala Energy chief executive.
The Tangkulo-1 well encountered an 80-metre gas column in a good quality Oligocene sandstone reservoir that was confirmed through an extensive data gathering campaign that included obtaining a full core of 72 metres, wireline logging, sidewall core, pressure and fluid sampling.
Utilising a new drill stem test (DST) design, the wildcat flowed 47 million cubic feet per day of "excellent quality" gas and 1300 barrels per day of condensate. Mubadala noted that, although testing was constrained by testing facilities, the estimated well capacity is between 80 and 100 MMcfd of gas and more than 2000 bpd of condensate.
Unlocking further potential
In line with company’s gas-biased strategy, Tangkulo-1 is an important pillar in the cluster’s development story, with the discovery unlocking further potential in the southern part of the block and indicating an additional multi-Tcf of prospective gas resources in nearby structures.
On completion of the Tangkulo well, the West Capella is lined up to drill an appraisal well on Layaran.
Mubadala operates the South Andaman PSC with an 80% working interest and its sole partner is UK independent Harbour Energy on 20%.
https://www.upstreamonline.com/exploration/game-changing-mubadala-energy-confirms-another-giant-gas-discovery-offshore-indonesia/2-1-1642620
The problem is, it's always "next year" with this lot. Let's hope they can make some meaningful progress this year.
You wait until we see some movement here, Q4 / Q1 25 will make Norway look like a side show.
I expect the SP to be nearer 40-50m as that firms up.
That said buying production assets has been slow, with no real excuses. Now H has moved he can fully focus on spending some of the Japex budget
Agree Paul. How many years do they need. Wish i wanged my money in a ftse divi payer
Still holding myself and would like to add more around the 17p mark. Spare cash all went into ECO at 9p which has accelerated - perhaps thats where the traders have gone - to help me along!!
Although I am no fan of the ex FPM management who follow the mantra of increasing MC rather than SP, along with hefty wage bills, I do see a recovery going towards the Norge drill later this year. Happy to sit and should funds allow add.
Charlatans.
Is this company ever going to do anything?
Meanwhile the management are coining it in.
Let’s march onwards to the early20’s
So they are not talking to Malcy at the moment. Lets hope ots because they’re working on something they’re not yet ready to unveil.
Lol Ash. I think the difference is now, that Longboat finally have someone (JAPEX) behind them. Let's see what they come up with.
In the meantime, I noted Malcy has been scracthing his head about the recent management changes:
"As I write I am waiting to talk to Longboat management about a series of management changes which leave me somewhat unconvinced. The company has a large number of excellent directors but are they all in the right place? As a former Faroe fan I cannot understand why Helge has left the management team, I am known to be a huge fan of James Menzies so that area is in excellent hands but I guess better folk than me will tell me one day… I must be missing something, it wouldn’t be the first time."
Based on our miniscule production investment to date i think there's 3 hopes in that, no hope, bob hope and envelope