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There is always deals to be done
Do remember that the price of deals do not reflect the near term ups and downs of the market. Nor should they. However deals take time. Those who have been involved with contract negotiations know how long these things can take
Next prod deal may be 2k bbls, then look at thSP....hmmm. know where I am parking my hardearned
*correction* 'no production deal that's available at the right price at this time'
Before we know it due to conflicts in the world there will be another oil spike or significant fluctuations in privce of oil such that there is 'no production deal available that's available at this time'
Tick flipping tock
LBE just need to get the deal over the line. Hopefully they have more production lined up...
I have been buying over the last few weeks, just to cheap. As I said the right catalyst and we should bounce nicely
Although we would all like greater production, anyone with production at the moment is quids in. Bit surprised the market hasn't reflected that for LBE.
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If you check the Norwegian petroleum website for statjford Ost, you can see 4 of the 5 wells are now drilled. Last presentation shows the production is closer to 800-900 STB In 2024. Kind of a poor scale though so maybe reading too much into it.
Either way, another deal of similar size would have us doing decent production numbers. Hooding for something slightly larger though (2-4000). There are deals out there to do, the board just need to screen them.
Another point often overlooked is that the $100M is a revolving facility. So if we get some good production deals done and as we pay back that capital, it becomes available again. Round we go and is highly accretive by its very nature. Through in the current tax regime $100M should give massive leverage
30p and the rest. Just needs the right catalyst to push the SP way higher.
Veloctette was indeed a boot in the balls. Could have been a company maker. However current market cap (sub £10 million) doesn't even cover the small Statfjord production deal. 300 barrels per day could be worth £3 million/year (say $30 profit per barrel?). Production meant to double by 2024. Plus there is all the other stuff going on : Kveikje, Malaysia and the finance facility to purchase production. Share price should be more like 30p...
Yes disappointing not to hit the jackpot with Velocette, and the Egyptian vulture writedown, however Carmen extending into the licence area looks like a significant unforseen bonus, and of course Kertang off Sarawak has billion barrel potential.
So with JAPEX's funding for Norwegian development/production acquisitions, as well as the stated intention of production acquisitions in Malaysia, there should be plenty of positive news to look forward to in the months ahead. Note that current Mcap is same as at ipo, when they were just a name and 9 million in the bank.
Really keen to find out more on Carmen. Does anyone know when they are drilling appraisal wells.
Not sure on Carmen. May be a stand alone development based on the estimated size.
Kveikja I believe is being considered for tie back option as part of a Troll B redevelopment. Few points on Kveikja, the Oil water contact was never penetrated so potential upside above the 60MMboe recoverable. Lotus feels practically nailed on, Rooke and N’roll sound like potential targets again since they’ll be drilling anyway.
A few days back it was mentioned the longboat puddles wouldn’t get developed but Kveikja alone is a no brainier with Norway pushing for additional production and Equinor pushing through life extension programmes. Combined with a find at Lotus then combined its 100 MMboe excluding the gas.
Based of similar fields Kveikja would be a minimum of 20,000 barrel a day peak production field. If lotus comes in too with similar properties the. Again another 15000 barrels peak production.
Anyone got any idea what the plans are to get this area into production. Are these FSO opportunities or is there a tieback options.
Particularly if LBE get a big resource lift through Carmen and are successful with Lotus drill.
Carmen could be over 200 mbbls of recoverable. The bleed over into our block looks very significant
Feels like the point around the Carmen discovery extending into longboats acreage was missed.
Longboat could end up with a unitised % of a decent discovery for free
Https://www.youtube.com/watch?v=uESpduV_Vzo
Investor Meet recording
Todays reaction on the investor meeting can only be in response to HH.
He has zero skills on communicating with shareholders....that said with very little free float we can see how quickly this could turn around northbound given a decent production deal! 48 trades today 10% down LOL
Revenues from the initial production deal will more than cover the G&A. Finance in place for further acquisitions. I will be adding more.
Dont forget that LBE will have 6M once the production deal closes. Nowhere near having to raise cash and not likely to....ever.
Come on boys get a grip
Agree Gazelle, been here for a long time, keep seeing G&A balloon. This seems to be more of a pension scheme for Helge and co. rather than a company.
Helge knows how to treat his friends. It needs shareholder pressure.
This was a lifestyle company until Helge hit lucky with the Japex deal. Further funding for cash is safely now looking like another share raise imo.
I wonder what the bonuses will be for this year?
Cutting costs? G&A was 4.5M in that CFO slide pack & don't forget 2 new Execs in Malasia to add to costs...
Quite here after that Helge ‘clanger’ RNS.
I can’t see them monetising any of the stranded minority interest puddles Helge punted on. But the Japex deal is promising.
Problem at the moment is the high oil price, Helge wouldn’t transact before- wait for the excuses in the presentation. This is like being on a roundabout.
Back to the start again.
Hopefully a deal with Japex to supply cash up front.
Now Japex are involved Helge should be cutting costs and shedding some of the entourage here- make use of the Japex expertise.
Very positive - with excellent progress.
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