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Agee on this 100%

Purchase of ‘initial’ production asset from Inpex provides the clues

Inpex being ‘Japan’s’ largest E AND P co. And just so happens … by coincidence Japex signs a jv with Lbe and then Japex buys assets off the Japanese firm Inpex.

The same Inpex that’s partnering on current drill.

The same Inpex that formed a jv with indemitsu in 2021 to gain greater exposure to ‘Norwegian’ assets.

The Jv has clearly opened a new door into Inpex large asset base. But also offers a tie up for upcoming licenses and a partner for development and acquisitions in Norway.

Should velocette be a success it would transform the share price. On a poor result the share price will drop as usual but I can see any weakness being bought up in anticipation for fureher assets.

UPL is vogue at the moment. this is just a little consolidation here.

I mention UPL as their mcap is pretty much level with LBE so a very good peer comparison

Both have stakes in Sarawak so another easy comparison.

UPL basically just helps to highlight the massive value disconnect in LBE and highlights to opportunity here

LBE have significantly more cash

LBE have production

LBE are in an active drilling program

LBE have access to huge financing capabilities

UPL

Https://www.herald.co.zw/zim-aims-to-be-safest-destination-for-capital-investment-in-africa/

This major discovery by DNO is further to the west and deeper than adjacent discoveries - same play and fairway as Jasmine and Sjokreps where DNO are JV'd with #LBE and this well result now derisks the prospects as stated in the RNS

https://www.investegate.co.uk/announcement/rns/longboat-energy--lbe/pl1049s-jasmine-and-sj-kreps/7610864

Hugely positive news for #LBE this major discovery is adjacent to #LBE Kveikje discovery. Huge discovery and makes the FANTA Development even more valuable.

Note confirmation in this article that #LBE Kveikje WILL form part of the development.

https://geoexpro.com/a-significant-gas-discovery-at-the-right-time/

Exactly this. Been saying it feels just like SQZ.

Japex haven't come on board in the hope some assets become available. there must be a plan and some assets been evaluated. The best part of all this is there will be little or no direct dilution to LBE so upon sealing the agreement. The market misses this point. There is potentially a £100mn company here within the next few months with extremely limited downside

Https://www.marinetraffic.com/en/ais/details/ships/shipid:3349457/mmsi:538007928/imo:9659309/vessel:TRANSOCEAN_NORGE

'completion of the transaction is now expected to occur in the first half of July 2023.'

The Directors have said Japex completes mid July so guessing they have a date in mind now and have added prior to formal announcement. You don't get junior oil and gas companies valued at sub £50mn with $100mn credit lines and blue chip partners let alone where LBE are valued. a Kodal style run on the cards......

Https://www.offshore-energy.biz/omv-preparing-to-kick-off-drilling-ops-with-transocean-rig/

Key to the acquisition is it is the 'initial' producing asset and further aligns LBE with equinor.

speak with management. They believe that a doubling of production to 600bpd is a conservative estimate and that it is highly likely that the initial production will be much higher before eventually settling to 600bopd ish after a few years

True. The KOD board was full of peeps happy to take profit at 0.50.

been a large sell order here working since yesterday afternoon. once cleared this moves.
reminds me of KOD. when the news came out it was stuck at 40% up for ages. I bought in and the next few sessions it went off like a bottle of pop

do you know who the BOD are? Their record is not of a 'sit on your hands' bod

a good starting place would be production revenue thats expected to start in 12 months. less say 70% to guestimate a margin (profit) x by 10. then factor say 30% for future exploration and growth in production

noted. thanks.
i just assumed the line that says something like
'ness inconclusive 'at this location'' suggests they will test elsewhere. ie in the side-track and hence the timelines of up to 8 weeks.

I imagine the wellbore will determine the overall plan. if they get the terbett safely behind casing and the well is stable they may as well drill on. but they wont risk losing the terbett since its above expectations in itself.

I take yesterdays action as confirmation the main target has been hit and column is as good as in the initial discovery (number in excess of pre drill estimates)
few days to the lower target and then dst.
anything north of 100mboe is big and 20% is material for a company valued at around £10mn enterprise value

turkey hinting at invading

My understanding is their share, whilst paying 46%, is capped. but if the drill goes over £15mn then they sill have to pay 25% of the drill costs? Surely EOG will need a contingency?

do we think eog will have to supplement their recent fundraise prior to rig mobilisation to cover any potential overuns on the serenity drill?