Member Info for daveri007

Bloody annoying no off takes have been announce this close to the release of our dfs!

Where are the samples that were going to be sent to our off take partners at the end of Q1!

Has the EIS been submitted....NO!

To be fair the investor presentations are very dry and very short.....Our CEO HH needs to smile a lot more moving forward (understandable after his first two years) ......his performance lacks confidence but very much looking forward to seeing him smile a lot more when/ if Velocette delivers.....at the top end £1 plus as a base to move all the way up as we utilise the 100m USD finance facility provided by Japex!

For those that missed yesterdays presentation with Q&A.

https://www.youtube.com/watch?v=cMef5G6T-Sw

Just seen todays RNS - A very good strategic move for our Kveikje discovery.......I am confident that the BoD's have something similar in mind for our Egyptian Vulture discovery!

Everything here makes sense and is now aligning!

"The key to all of this is future wells will benefit from the ~70% tax refund on development"

Agreed, that is why this deal is so attractive...acquiring producing assets with further development potential to significantly increase production pretty much is a risk free strategy given the generous tax rebates available not only on exploration but on developments/appraisal projects!

"Helge Hammer, Chief Executive of Longboat, commented: “We are pleased to announce our first production acquisition in Norway, the next step in realising our growth ambitions on the Norwegian Continental Shelf. The Statfjord Satellites are two high-quality, long-life assets undergoing an exciting and transformative redevelopment led by Equinor."

Hmmmn, I wonder if this is both a "production deal" and a "development deal" all wrapped into one! If thats the case, the CAPEX here expected to significantly increase production in 2024 would be subject to the generous Norwegian tax rebate system! Definitely a question for HH on Wednesday!

"A redevelopment plan was approved in 2021 to drill five new production wells into potentially undrained areas of the field while also adding gas-lift to increase production levels. This infill drilling programme is currently underway and anticipated to last until the end of 2023, resulting in a material uplift to production in 2024. The field is currently anticipated to produce until the late 2030s."

https://www.ogv.energy/news-item/longboat-energy-picks-up-stakes-in-two-north-sea-fields

Is it just a coincidence that our production deal is with INPEX (Japan) of which JAPEX (our new JV partner) own over 4% of the shares? (JAPAN JAPAN JAPAN)

Anyway, according to LBE management they were already in advanced discussions on this production acquisition before the JAPEX JV opportunity existed - hence the agreed $4m goodwill payment from JAPEX.

One thing is for sure, had the JAPEX JV "rescue"deal not happened there would be a placing to finalise this production deal and at a share price of less than 7pence and as such super dilutive and thats if they managed to finance the placing.

Management and shareholders should be very happy where we are now and expect more deals to occur and hopefully another exploration discovery (Velocette) this year!

More accretive deals like this please!

Happy days!

Yeh KC Said 4-6 weeks for full results on LCT - that was two weeks ago - so another 2 -4 weeks expected....but because KC said the timeframe add another 6 weeks - E=MCsquared.

He also said 4 weeks ago - 2 weeks for The EU Critical Raw Materials (CRM) Act to be agreed when anyone that has done some simple research knows it will be ambitious to expect anything before the end of 2023 - more likely mid 2024!

Still holding based on very strong company fundamentals and geopolitical advantages!

Funny to see even two muppets recommend @valueseekers posts - in and outers!

With increasing interest rates - SD has even more reason to raise cheap equity finance - its going to happen - watch this space!

Nice to see the Czech PM keep talking about the new car evolution - he knows just how important given their reliance on the automobile industry (10% GDP) - he knows what we know !

I guess based on your ill informed replies - you don’t like being educated!

@valueseeker…maybe you should read the financial statements published on the company’s web site y/e 31st December 2022.

Longboat Energy PLC have an interco loan with its Norwegian subsidiary- just under 3m uk sterling…this will be paid back to LBE PLC from the JV.

The EFF is nothing to do with that.

LBE PLC pretty much have all the OPEX including staff costs etc - these not insignificant costs are not being transferred to the Norwegian JV subsidiary and will need to be funded.

The Japex money other than repayment of the inter company loan will not be contributed to LBE PLC

Hope that makes sense!

Clarity on cash flow requirements needed - interim financial results due out in September which will help - even with inter company loan repaid to plc from JV - I expect cash will be needed in the form of equity and debt.

Directors been in a closed period for some time - got the strong impression they are frustrated not to be able to buy more shares at these heavily discounted prices.

Exciting times ahead - fingers crossed for a successful velocette discovery!

SD is sh@ting himself...I doubt he is enjoying a social bbq!

All quiet on the eastern front!

HH has a million quid invested - hardly playing money.! But agree, now time to deliver.

"3 million buy nice one"

Trader looking to exit at 8p with a £41,000 profit !

After the lastest TR1 RNS approx 47% of the shares here are under the 3% holding and still a very illiquid market - I imagine it quite difficult to mass a lot of shares at this stage!

@Stan "No need for any one to get Rampy - Drilling is the key to success "

I believe the ball game here has now dramatically changed - we now have access to a us$100m war chest with the Japex JV deal - so some smart production acquisitions will help transform LBE into a mid tier E&P company in the highly lucrative Norwegian market!