Member Info for Deeko19

Agreed Zengas. WAAA absolute garbage.

I’d suspect that one of the wells is projected to be online at circa 750 bbls by mid July and second well taking this to 1000 bbls by September.

The assets produced $2.5-3 million at $45 per boe between jan and April.

A further $2.3 million may to July.

A further $2.3 million July to August

And finally $5.6 million to the end of the year.

So a total of $13 million for the year.

I believe they had $9 million cash at the end of 2023 in the JV (I’ll need to recheck the last update). Capex costs will be repaid by the Norge government at the end of 2024.

You really believe they will wash their hands of the JV? Which is generating $1.4 million a month in profit (assuming $45 per boe after all costs)

For once. I have to agree Ash. Had all the catalysts for major growth.

I’m not concerned though, the doom squad have arrived in force but for me this is a fairly simple short term issue.

Lbe projections still have Statfjord still reaching 900 - 1000 boepd in August based off the guidance. $1.4 million revenue per month at a modest $45 net profit.

RBL is a no brainer given they have reserves from the field that they can book it against.

Capex cost are paid back at year end by the Norwegian government so any spend this year is paid back at the start of next year.

A little good will from Japex.

Struggling to understand why they agreed a Jan 2025 anyway but there are some serious doomsayers on here at the minute.

Vultures are out today

‘Way oversold’

That doesn’t mean anything in the London market. This company should have been a minimum £20 million Mcap with production from Stafford, Kveikja (worth 15-20 million alone on a sale), other prospects in the ring vei vest area, and one of the largest instilled prospects in Malaysia.

Never mind a 60% drop on a minuscule market cap anyway. The London market really is dead. Run by funds that manipulate prices and traders that scalp a company into oblivion

Also referencing poor performance of the asset whilst stating the issue is with commissioning of the new wells. Those are two different things. Again, poor working

Bad wording on behalf of the CEO referencing gross vs net capex. Much of the additional capex is payable by the Norwegian government at year end which will resolve the payable back to Japex piece.

Overall I’m not concerned here, just a crappy worded RNS by a team that should know better.

Also not happy with the drill date slipping from Q3 to Q4

Helge’s last drop in shareholder destruction before jumping ship early.

Mitch clegg as CEO makes me nervous with opportunity progression. I recall several revised RNS’s from his Tullow days that drove the share price down to 8p.

Nevertheless, a great opportunity missed on my part

Afentra… auto correct

Agents currently has 6000 boepd production, Mcap £125 million.

Come on LBE. Easy 12 bagger on any significant production purchase here.

In rareness to Roxy, these guys are about to add 5 mboed production and have passed through the most capital intensive period wiring construction of the plant. The project is worth multiples of the Mcap.

In the words of CNN ‘strange scenes here in downtown London stock exchange…’ that broker rating is just bizarre

Let’s march onwards to the early20’s

Personally I think longboat should be going back to JAPEX and saying.

There are several deals available right not. How much do you want the production and how quickly?

Repsol is up for sale: 29,000 boepd and 53 million bow reserves

Sval is up for sale 70,000 boepd expected to sell for 400 million according to routers with debt of 700 million.

Kufpac just sold for 450 million and 19,000 boepd

Var will be divesting according to reports.

My take would be you’ve offered the £100 million but if you want to grow quickly, here’s the opportunity. £300 million loan, reserve based lending for the other £200 million and off we go to the races :)

James Menzies as CEO would have been phenomenal. Such a charismatic and bullish guy.

Nick I’ve not heard much from (I think) but looking forward to the next update from him. Presumably it’ll contain details of the shallow water stranded discovery awards James touched on in Malaysia.

HH is chairman of longboat Japex.

Nick taking on the CEO role at longboat.

Graham chairman of longboat.

My guess would be that meetings in Malaysia where Helge is predominantly inexperienced is conflicting with meetings in Norway so they have very much divided and conquered to start knocking down the bowling pins.

Yep, 1000 boepd by June.

According to the presentation we’re heading from 600 Boepd to 800 boepd :)

Still here Mommur.

I never get excited when we sustain a large drop for no real reason then begin rising again. I view it as the MM just taking the p**s and ripping people off.

Topped up a fair bit though and patiently waiting for an RNS with the words ‘longboat are pleased to announce the acquisition of’ :)

Again, crazy value here, 6-10 bagger easily with a reasonable sized acquisition.

Yep true! I’ve been doing the same myself though, i can’t find anything on the block unfortunately.

May take a look at ECO though

Not in here but just reflecting on when I was a holder - Bitter pill to swallow that Serica gave up on Namibia following GALP’s 10 billion barrel discovery. That block would be worth a fortune now. I see this becoming the next Guyana with multi billion barrel finds in succession.