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Dont recall seeing this one before, must have missed it. Looks very strong. No 1 pick for 2024 (as it was for 2023 and 2022 ...)
https://www.seplatenergy.com/media/wwtesqce/investor-presentation-8-november-2023.pdf
When do we here more from NGC on this issues ?
Anoh - OB3 pipeline; river crossing grouting & tunneling continues. Completion of pipeline installation rescheduled to end 2023.
Spur line; poor weather, deterioration of security situation in recent quarter. Completion targeting end 2023
Sapele - Project 75% complete.
Plant upgrade will increase capacity by 85 MMscfd and will enable delivery of export-standard gas
LPG processing module will open new markets for LPG products
Three out of four compressors on the Sapele Accelerated Gas project have now been commissioned
Plant commissioning in 2024
Sapele - typo, of course not a NGC issue. A very good development project.
Hi Superiore,
Thanks for posting. I hadn’t seen it before. I tried to paste and copy an extract from the growth section to here but the ppt is locked.
Suffice to say I think anyone buying these would be well aware of the cash position and growth prospects!
Must say I have been bracing myself for a dip below 120 but it seems to be perking back up again and indeed it’s held up very well.
This year could be transformational for SEPL and that’s without the divestments! So much landing over the next twelve months that has been years in the making. Most importantly for me is that the BoD are intent on the ops translating into higher dividends!
The divestment of course would be icing on the cake and imo propel the sp significantly!
Usual caveats
Trek
Perky again today, indicative balance of trades is buys albeit low volumes. I think some PI’s are getting in ahead of newsflow.
Went down on low volumes, back up on low volumes. Typical of this market.
Shares move disproportionately on low volumes to generate other trades so everyone gets paid. There’s no reward for a position of hold especially if it’s the majority of investors that are just sticking! So the MM shifts the stock around to generate some interest!
Usual caveats
Trek
Ascending channel from Mar 2020 back to 150p by the looks of it.
All in anticipation of news of course which should drive it back to 250p. Doubling of assets double sp and coincides with the ATH’s.
Funny how these things play out sometimes.
Usual caveats
Trek
I seriously hope so. My largest position so holding my breath this will be the breakout year. I must say the lack of news developments on the big exxon purchase do have me a little concerned but not enough to trim my position
The next dividends goes ex in mid April and it will be either 4.2p GBP equivalent net of withholding tax or 5.7p. My view is that the 5 cent special will be repeated, so our cheque will be 5.7p in total. Then one month later, there will be another 3 cent or 2.1p net. That's almost 8p/share of dividends (6% yield) for just 4 months of holding - that's some carry. We are being paid very well for sitting on our hands while catalysts mount.
So I have been looking through the Exxon deal that was posted on seplats website, I was searching for any kind of indication of time limits of completion that would have been attached to the original set up deal. With best intentions I cannot find it, I sort of remember was there an update or extension on the time limits to when the deal had to be completed by. If anyone can spot such info. Please would the point it out, I’m hoping as there is a little movement in the sp things maybe taking shape. Thanks H.
I don't think the agreement has an expiry, but the longer the wait the closer the cash cost to Seplat falls towards zero, which presents a potential issue as there will be some influential people on Exxon's side that won't want to see the business given to Seplat for what amounts to a peppercorn.
I don't know what's going on. I thought the deal would require a shareholder vote but apparently not, so I guess it should go through quickly when NNPC and Exxon get their act together.
Anyway, we know Exxon has a new strategy as the biggest producer in Permian (buying Pioneer for $64billion), that there's usually a break fee if a party backs out of M&A deal and I notice deal was amended in May so that the money that would normally go to Seplat because of the backdating would instead be split between Seplat and Exxon. So the longer the delay the less cash Seplat should have to find, but my guess is that Exxon should also be feeling that they are being treated fairly because they have a deal to reflect the delay and are happy to move on with their focus in shale.
SSPA amended:
https://www.marketscreener.com/quote/stock/SEPLAT-ENERGY-PLC-16256802/news/SEPLAT-ENERGY-CORPORATE-ANNOUNCEMENT-ON-SSPA-AMENDMENT-43932626/