Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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Munch well said firstly, you are absolutely correct on the exploration part mate.
Munch - Your last 2 posts have convinced me to top up in the morning.
Perfect Summary!
Thanks Munch,
Future truth. Time to put you straight mate.
Faroe was a PURE exploration play..... so they kept raising money to drill.
They floated at £100m market cap and got sold for £600m
The sp floated at £1.04 but you forgot to mention had an all time high of £2.64 so only a 160% increase.
They took the long way round with Faroe and experience has shown them they can do it better and quicker this time as HH SAID is his interview.
Finally these have 10m shares in issue so whilst the low shares indicate a very high SP one can not forget that the current £10m market cap is fully backed by cash in bank of 90p.
This is a different beast. Rns due very soon then you can decide if your Faroe was a hardly a deal of the century or if the gains here will keep you out of debt fir a century. :))
Ps. Hope I cleared that up in a nice simple and easy way.
Faroe Petroleum Listed at 104 and sold at 160 hardly deal of the century guys in terms of shareholder return, don’t get me wrong the potential here is substantial but so was Faroe.
Mrmacduff. I think if it was in any article that they were planning a 10,000 bopd awuisition then you would have a sp of £3-4 before any rns.
It makes logical sense, if your investing and suddenly your getting twice the return for the same Money outlay then you take it.
The concrete fact is 5,000 bopd would have cost them before covid as the same amount 10,000bood would cost them post covid.
Everything has been devalued in the North Sea and across all oil / gas industry because of the price drop and now general consensus after the volatile oil price fluctuations.
Perfect example is a Energean agreed to buy Edison e&p oil gas assets @ $850m .... they have excluded the lesser assets of Algeria and Norway .... still buying the same production of 50,000 bopd and all the main reserves /assets remain the same for ........ wait for it ...... $276m. Like Wtfffff. They have basically reduced the price by HALF A BILLION dollars.
What’s scary is I know for a fact hedge funds are pssssssed off for missing the rally and what’s really frightening me is if HH has $300-400m at his disposal then god knows a 20-30k first acquisition could easily be gotten. Hold for gold here lads.
Munch , Have this been in an article anywhere or is it an educated guess? The market condition lately would certainly indicate a good chance of this being the case.
Cheers wisha.
As I said the only reason for the delay is they have gone from 5,000 bopd pre-covid to 10,000 bopd post covid.
Best thing about this is not only production Target doubling but the 10k will cost the same as the 5k would have 5 months ago.
Great post. Agree 100%
Helge and the team are licking their lips and find themselves in a very envious position. Oil at 30 year low and plenty of cash and big Institutions who trust them with their money. The acquisition will be a mouth watering prospect for shareholders and will definitely surprise the market and put Longboat on the map. It will be worth the wait!
HH states it will take 2-3 deals to become mid size producer ..... do why the delay ?
Perfect explanation is they spoke to companies and looked at 5,000 bopd Asset as a first purchase .... however COVID CHANGED all that hence the delay.
They will go for a min 10,000 bopd asset in my opinion. Mid size produce looking at 30,000-50,000 bopd so on average if they do 3 deals then each has to be min 10,000 bopd producing Asset.
I know are starting to repeat posts and sound like broken records but the opportunity here is simply amazing, Looking at £1.10 breach on the ask this week.
God forbid if the backers turn around and say .... we have missed out on the market rally in general so here’s $400m you can have towards a purchase .... uuufffffff £300m can get you more oil than you can wish for and the sp.... well forget it.
Remember guys they were looking at Up to $200m Before covid .... I reckon they can bite bigger because the assets are cheaper .... the backers know this and having experienced the success with Faroe they may just hand a blank cheque to HH because most funds have missed this rally .... tick tok