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> Both RNSs relate to Norwegian-related transactions.
Apology - I stand corrected.
The farm down on Kjøttkake/Lotus & Jasmine and Sjøkreps was just on those Norwgian assets.
Serves me right for skim reading first thing in the morning.
Both RNSs relate to Norwegian-related transactions. They haven't yet farmed down their Malaysian asset.
Couple of nice RNS this morning
i) Completion of the Statfjord satellites means we are now a producer. Should pay for itself in 2-3 years. Reduces any concern about cash burn. Market cap should now be cemented at these levels
ii) The farm down of Malaysian assets is a nice surprise. Looks like a smart move and reduces risk moving forward.
Onward and upward!
Exactly Haggis!
Previous RNS stated end of the month. Then they drop this crappy RNS instead
.... Was hoping / expecting news the small production deal would close by month end. A big milestone as it would cement the current market cap
Apologies it was an RNS release.
It's a presentation plain and simple that the asset is being showcased there and non RNS.
Not meant to set the market alight.
Zero trades following this news, it didn't exactly set the market alight.
…
Whirlaw - "Longboat's original "blue chip" investors turned out to be a disaster, very damaging, destroying the share price when they bailed. Who is to blame for that though? Longboat not bringing them the right deals, or the fickleness of the likes of Blackrock?"
I'd argue it very much rests with LBE. They failed to deliver their original strategy upon which blue chip and private investors made investment decisions. That failure, at present, continues...
Norway is in a prime position for the supply of gas to Europe for decades. The demand is solid and endless, now it’s just a matter of finding and producing more. LBE can be in a sweet spot if they make the right deals and have some luck in exploration.
Russia is out of the equation for decades through Putin’s mistakes and arrogance.
https://www.reuters.com/business/energy/germany-swaps-russia-norway-gas-supply-dependence-2023-12-21/
It’s an interesting proposition. Personally I think it’s too big of a deal for us (not that I’d be opposed to taking it in).
There is no mistake that Japex have the financial clout to inject the funds if they want to take it on. Sounds to me like it’s a $400 million+ deal with $700 million debt being transferred.
Helge did mention that with JAPEX current lending limit LongboatJapex would have a combined debt availability of $200 million.
For me JAPEX are in the JV business so the emissions can be attributed to another operator and it shows they as a sole company are reducing emissions. If they want to grow quickly then get the funds lined up and let’s go!
IMO it’s either something big or we’ll end up with scraps because PGniq seems to be involved in buying up everything
The favourable environment for O&G activity in Norway looks set to continue for a long time, with the Norwegian Offshore Directorate even stating “would like to see companies exploring actively in more frontier areas.”
Bit of a contrast with the UK's stance!
https://oilprice.com/Latest-Energy-News/World-News/Norways-Natural-Gas-Production-Hits-Record-High.html
Deeko - yep!
Crucially, Longboat now have the financial backing with JAPEX. And JAPEX have made their intentions clear.
Longboat's original "blue chip" investors turned out to be a disaster, very damaging, destroying the share price when they bailed. Who is to blame for that though? Longboat not bringing them the right deals, or the fickleness of the likes of Blackrock?
It seems Longboat learned from that debacle though, and we all expect much better outcomes with JAPEX.
Is SVAL Energi too big a mouthful for JAPEX, or might they see that as an easy way to quickly reach their targets?
Amazing what you can do with massive funds and no complaining investors
Worth noting that Sval Energi was formed in 2019, the same year as Longboat.
Interesting to compare the progress and achievements of the two companies during that time!
Come on boys, surely just the chunky opportunity you've been looking for, especially now you've got the Japanese Govt. behind you.
Sval producing 70k barrels..
https://www.reuters.com/markets/commodities/private-equity-backed-norwegian-oil-producer-sval-energi-up-sale-source-2024-01-19/
These little "puddles of oil" could each be worth many multiples of the current market cap (a paltry £12 million). Which of course is what makes this such an interesting investment. A modicum of success should see share price fly from these levels
Agree. We still await any 'material' progress
Based on this update. Why are we messing around with these puddles of oil with $100M at hand. We should be focused on multi 000s bbls production (IMHO)
Licence awards are out today, I guess we’ll see an RNS tomorrow about the licence for Longboat, it looks like it’s a part in one licence, hope it’s a good one.
https://www.regjeringen.no/en/aktuelt/62-new-production-licences-offered-in-the-apa-2023-licensing-round/id3021963/
I think we are going to move to higher highs and move away from sub 20p range
Awards of licences are due soon, maybe this week but more likely early next week around 9th Jan.
Could see some decent awards for Longboat Japex Norge.
https://www.sodir.no/en/whats-new/news/general-news/2023/apa-2023-still-significant-interest-for-exploration-in-mature-areas/
Agreed! Really looking forward to this playing out throughout 24
Promises to be a pivotal year for LBE. Production and exploration. Pockets stuffed with cash I am expecting a good size production deal Vs mkt cap H1 also farm in to all those TCFs ..;-) off Malaysia
Everything to play for #LBE