Seplat Energy Share Price (SEPL)

Interesting on an average day with zero news, very approx for each 10,000 shares purchased vs sells we see an average of 1p increase in the SP

What on earth will happen when the Mobile deal is signed off and the facts are made known, the City will/should be very impressed with the eventual deal, increased production, increased Reserves of oil, the TCF of gas is a lovely extra, FCF jumps, and the actual end price paid decreased due the lengt of time taken to cross the line.

On every metric this should be a superb deal for SEPL.

As always DYOR/DD

More transcribes are being released from the NURPC workshop last friday, and I'm highlighting the parts about timeline below. Link is here: https://www.thisdaylive.com/index.php/2024/05/04/for-reinvestment-in-mobil-shell-agip-equinor-oil-blocks-nuprc-gives-two-week-ultimatum

Two weeks to decide about Option 1 & 2 (this has been explained in this board earlier, so I'm not repeating that).

But, followed up with some other comments that might be disconcerting for some:

“Even when we want to finish that in the middle, we don’t plan to keep you waiting in limbo. We expect that by June 30, we should have finished everything.

“And we expect some more time to make our recommendations, to dialogue with you, make our recommendations, submit that to the minister, the minister approves and communicates his consent to you.

“So, we hope that no matter what, by August 31, everything should have been done and you have your consent. So, that’s the proposition we have for you today,” she stated.

Now, I wouldn't rule out an earlier execution because we have Mr. Heineken on the record saying he recently was in New York, meeting Exxon, and agreed upon the details. (Seplat 10 year anniversary). I also would like to believe that some of NURPC demands has been communicated to Exxon, Equinor, Eni and Shell prior to last Friday i.e. the process might be further ahead than we believe.

Two days ago the CEO of Oando, who's buying ENI assets, said the following:

“working through the obligations under the Share Purchase Agreement” and is “on track” to close the deal this quarter."

Buying 20% of 4 OMLs which NNPC already owns 60% of i.e. a setup almost 1:1 to ours.

To sum it up, I'm extremely confident the deal will go through. August 31 is later than I had hoped for, but I've been holding since Feb. 2022 so I might hold another 3 months. :)

Mmm just spotted the AGM is pencilled in for next Thursday, wouldn’t it be an ideal opportunity to announce good news !! Fingers crossed😊

My $700m in Free Cash Flow up to 2023-05-24 from 2021-01-01 certainly is conservative (as stated), and I consider everything above that as a cherry on top. :) Bless

"I get $1.7b already in the lockbox since Jan2021"

That's closer to the number I have, those saying $800m I think are quoting the "capital access" research firm who it looks like didn't account for depreciation, amortization and impairment; they had mpnu doing $387m in free cashflow on $4.5 billion in revenue in 2022 which makes no sense whatsoever.