Member Info for deeko

Noted the copy and paste from offshore-technology website states 3.5 million barrels of condensate. I'd suspect that's a typo on their part, 35 thousand or 350 thousand would be more likely

Aye Kertang is a game changer here: Kasawari is 3 TCF, Kertang is estimated at 9 TCF. KasawariIt is expected to produce 900 million standard cubic feet per day (mmscfd) of gas and 3.5 million barrels of condensate per day.

The Kasawari gas field is expected to commence production in 2023.

Currently we're 50% holders. Imagine the value here even if farmed down to 5-10%.

Agree Mommur,

Like I've said previously, I'm all in on LBE based on the current trajectory and plan. I was never sold on it pre-JAPEX, exploration is like waiting for a lottery ticket to come in but once JAPEX was onboard with $100 Million to fund acquisitions, the potential prize here is far too tempting from my standpoint.

Add in the fact that Helge has mentioned we could extend this for a deal worth unto $200 Million then the Mcap is looking a little silly in my opinion. These guys could spring out an acquisition anywhere between 6000- 15000 boepd at any time.

The initial acquisition has worked out v.well for us at 1000 boepd (we're not there yet but come June we will be). A further bolt on acquisition of similar magnitude put's us in a very good place and yet the board have expressed a desire to achieve a much bigger deal.

I'll continue to acquire shares whilst we're in the teens because the Mcap is just silly at the minute. If nothing else happens between now and the Q3 well spud, I'd put a dead cert on us approaching 30p by September which is 76% increase from todays price. Even then at 30p a share the Mcap is tiny... £15 million's. Mental

I'm not sure who quoted this but 'everybody wan't it right now...nobody want's to get rich slowly'

and my other favourite quote by Peter Lynch - It takes remarkable patience to hold on to a stock in a company that excites you, but which everybody else seems to ignore. You begin to think everybody else is right and you are wrong. But where the story is promising, patience is often rewarded

Not bad for a company with a 10 million Mcap

1000 boepd

As per Reuters - LONDON, March 1 (Reuters) - Spanish oil company Repsol (REP.MC), opens new tab has launched the sale of its Norwegian subsidiary, Repsol Norge AS, according to a marketing document seen by Reuters.

Investment bank Rothschild is running the sale of 10 assets located in the Norwegian Continental Shelf consisting of seven producing fields with net reserves of 53 mmboe (36% of them gas) and 2024 net production of 29 mboedp.

The project, code-named Hemera, will include all employees, asset tax and asset tax histories, lease liabilities and decommissioning guarantees and obligations.

The line I'm struggling to interpret is whether these assists are being broken down or sold as a package.

Either way the assets are

Gudrun - January production net to Repsol = 5500 boepd

Mikkel - 2000 boepd

Visund - 8300 boepd

Tambar - not sure nothing on the Norwegian site

YME - 12500 boepd

Other assets but smaller volumes and some discoveries. TBH, with a market cap of just 11 million, even Mikkel would multibag us.

ATB

LONDON, March 1 (Reuters) - Spanish oil company Repsol (REP.MC), opens new tab has launched the sale of its Norwegian subsidiary, Repsol Norge AS, according to a marketing document seen by Reuters.

'Investment bank Rothschild is running the sale of 10 assets located in the Norwegian Continental Shelf consisting of seven producing fields with net reserves of 53 mmboe (36% of them gas) and 2024 net production of 29 mboedp.

The project, code-named Hemera, will include all employees, asset tax and asset tax histories, lease liabilities and decommissioning guarantees and obligations.'

Time to strap in?

Think you may be right Mommur!!

Its habit of an echo chamber here at the minute. They've gone from several updates a month to nothing for 2 months. Surely they are due to release the end of year? surely they know what Statjford is producing, surely they have a deal lined up the feels interesting.

Aye agreed.

Garbage company - could have been merged into one of the largest net producers in Africa alongside Tullow but instead... they got shafted my share holders wanting a large one off payment.

Wasted potential and now it has nothing worthy of note

Happy to sit around and wait. The longer this goes on, the more chance that Jadestone progresses Akatara and decisions around Vietnam. Less opportunity for the market to manipulate us down.

really frustrating this was pulled down so much ahead of being suspended, more ground to make back up but oh well! Lots go good news on the horizon.

Primed for the next move unto 30?

Looking forward to the future plans for Longboat SE... there was talk around using the same model as Longboat Norge to bring in a JV partner with deep pockets, Menzies has the credentials to attract such partners.

Slow burn here but it has the potential for something major!

In a typical 'I told you so' style... I called this 28,000 boe acquisition on the 15th November.

Admittedly, the share price was manipulated down unfortunately.

Well that's my JSE shares suspended due to a 28,000 boe potential acquisition (gutted really, was hoping to average down a little more). When is it Longboats turn?

Sorry... last one.

Mommur, SQZ also dropped from close to 100p down to 3p before spring boarding up to 450p ;)

Mommur, used to enjoy your analysis back in 2015/16/17 on the SQZ board.

I called SQZ as a minimum 10 bagger back then and I stick to my previous statement that LBE will reach $1 billion. Happy to be wrong here and will adjust my holding accordingly but the Japex deal combined with a Reserve based lending facility will give LBE liquidity of up to $200 million to buy assets. That's a huge springboard for a company with a £10 million Mcap.

Did you watch the webcast from the 2023 results? This was spoken about in depth during the Q&A and is a technicality based on how the forecasting method. The board reiterated that they would not need to raise funds, and again during the previous webcast spoke about how they are heavily invested and have no intention of raising funds.

Think you can find these webcasts on YouTube.

Agreed Bob, based off the investor call a few days back, we're already looking at reasonable sized production deals in Norway with some shortlisted. Anything we get will be non-operated. Helge mentioned it would be appropriately sized which given they start the Statjford deal as a small deal (750-1000 bbls/d when all 5 wells are online). I'd be expecting the next production deal in the region of 2,500 - 5,000 STB/d.

What really pricked up my ears were, we can fund unto $200 million dollars of production deals - considering the Mcap of £10 million, this is a sleep giant. I know people usually like to wait for tangible evidence before diving in, but time and time again we've seen the multi-baggers are made when you're in early. Timing is everything but I'm happy to be early and ride it out.

The other thing that got my attention is obviously Kertang (or the MONSTER as they labeled it) - high PPM gas shows at surface drill cores, low CO2, 9 TRILLION CF and one of many, many prospects. If that block becomes derisked in 2025 drill on the Petronas rig schedule then Longboat is a buyout target for any major or National oil company.

We've then got Kvikja development as part of the Equinor troll development so lots to look forward to. I know it's not moving at the pace we'd all like but the stars are lining up slowly so I'll keep tucking away more shares each month.

Interesting take on the acquisition;

My take on this one would be of along the lines of: One partner holds voting rights and doesn't see the asset as a priority/want to invest/cannot afford to invest, others want to heavily invest because they see attractive redevelopment options. Buy orchestrated to streamline investment decisions.

Will be an interesting one to watch over the next few months, personally I see significant value and hence continue to hold/buy the shares that are being sold by others.

Somebody knows something...