Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Shell sells Nigerian onshore business to local consortium.
NNPC are partners with 55% but no mention of any pressure on Shell to sell to them instead.
https://www.reuters.com/markets/deals/shell-agrees-sell-its-nigeria-onshore-oil-gas-business-2024-01-16/
I am overweight here ST. Macro is a key driver imo even without a deal. Nigeria is a pretty good place to invest with organic growth esp in energy and being an African country that everyone wants to make their friend!
That’s even before the SEPL fundamentals!
Usual caveats
Trek
"Easier to access and worth the minutes spent" - Agree on that, very informative and positive update.
Https://vimeo.com/901996645/dc6caf2abe?share=copy
Easier to access and worth the minutes spent
3 months until their next ex-dividend, 5.7p in the pocket :)
I was thinking about how SEPL will trade following regulatory approval of the acquisition of MPNU and I think it will probably gap up a fair bit but not a huge amount as the stock has a very limited following among institutional shareholders and nil following from hedge funds. So for those of you who don't yet have a large position in the context of your portfolio, I think you'll have an opportunity to raise your positions once the news has been confirmed. Once the prospectus is published, we'll have clarity about MPNU's financial position and a lot more to go on. Hopefully at that time more institutionals will be sniffing around, starting to understand the potential yield and growth implications. Still, I think it will be a stead crawl upwards in the share price, not a huge jump. That's my view, we'll see what actually happens. I guess what i'm saying is, patience will continue to reward here.
The youtube video that followed on from this was https://www.youtube.com/watch?v=_5hYsdVbW2E
Very interesting interview with African Billionaire Aliko Dangote
He explains that at the current rate of population growth Nigeria will be the 3rd most populous country in the world by 2050, behind only China and India.
What a growth market and what better energy company than Seplat to invest in?
Hi sw yes I have now watched the interview from a couple of days ago and I also agree that Roger seems to be super confident, he also to me has a gleeful eager looking yes this is happening, it’s also interesting why the Exxon deal was chased after, to me it was because of the abundance gas contained with the shallow water blocks. Nigeria with seplat will develope great infer-structure supplying gas to millions of people eventually. Good also talks about the longevity of the company 25 years plus. Also moderate uplift in divi imminent. I’m really pleased I have held my nerve after these few years and added where I could to my smallish but blossoming investment. Regards H.
Herminator,
The link provided by SeaTank8300 is to a video with a interview made 2 days ago, not 2021. The 2021 that you saw was a reference to an event previous to the aforementioned one.
Great interview btw. I'm feeling more confident MPNU is in the bag.
Hi seatank thanks for that. Great interview...he sounds very positive
Link might help 😊
https://www.youtube.com/watch?v=sPxr1fMcSdM
Hi seatank, thanks for the link but it shows a interview from 2021, which in itself was interesting too watch, I think you have you have to subscribe for the latest video, I am definately encouraged by the comments from other posters to say how positive it was. I was flicking through YouTube and found this from a few months ago which is worth a watch and not too long. Surely the deal is not too far away now with Exxon, lots of news due soon, exciting times.regards H.
I found the video v hard to access
This is another link:
https://www.lsegissuerservices.com/spark/SeplatPetroleumDevelopmentCo/events/fb275527-e7da-49aa-bdd6-35196a1364ca
The website is wwwDOTlsegissuerservices.com
Why don't they make it easier for investors to access?
Anyway, fantastic summary from Roger, who reiterated their plan to raise the dividend and that MPNU will be completed very soon
Great Interview. Highlights for me are the deal will mean tripling the revenue and Seplat are currently supplying about a third of Nigeria's gas needs.
Wwwdotresearch-tree.com
copy/substitute into the starred areas hopefully then the link will function.
The link is via research tree
seplat video conference organiser lse, should be interesting.
https://*********************/events/london-stock-exchange/seplat-energy-nigeria-s-leading-independent-energy-company/1990
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/
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.
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.
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.
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
'' We believe Seplat has multiple catalysts for value uplift which remain poorly understood despite the share price outperformance this year. Based on new modelling, we provide detailed insights into these catalysts. Most certain are improved operational reliability and the start-up of the ANOH gas project. Completion of the MPNU acquisition and conversion to the new PIA terms could be transformative while enhanced corporate governance and the improved outlook for Nigeria add supportive context. Seplat is on a discount rating to peers and on compelling forward valuation multiples with upside of 32%-91% to our initial NAV estimates, excluding the potential transformational value from the MPNU and PIA uplifts. ''
https://twitter.com/surprised_trade/status/1745102909778378926
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
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
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