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Morning doom, I will totally honest reading the Rns this morning about tax implications etc for the dividend, I really haven’t got a scooby doo of what is needed, would you or anybody point me in the right direct please, many thanks H.
Consider........ covid in Africa, world easing up on oil consumption therefore glut,company and others waiting on the green light for funding for anoh project due to be announced end June. Yes this has become stagnant in the last few months, but that’s why the shares are just north of 50p, it’s risk factors or what ifs that are holding this back imho, divi just about to be paid shortly, we have a agm think it’s 28th may, everyone’s in the same boat I think, I am happy to be patient, it has huge licenses in Nigeria and is on the cusp of providing massive gas supplies to an ever increasing Nigerian population. Hope this helps keep safe H.
Munch that is right roughly 4p divi per share.
Link https://www.sunnewsonline.com/seplat-to-tackle-power-deficit-with-700m-anoh-gas-field-project/
Hi munch, this is no easy fix, looking at the anoh project it runs over two blocks, of which NPDC,sepl shell and a few others have a interest, off the top of my head they have already agreed will raise between them sepl and NPDC $420m, I believe according to reports sepl has applied for loans for the rest ($280m) but I might be wrong, which the lenders will give the decision late June 20. It seems to me everything looks like a split 60/40, Nigeria as a country needs this huge project to go ahead because of the Massive impact of power this would give the country, this maybe another reason why this share is being held back, as I can see if the project gets the nod from the banks it will transform the company into a major gas supplier. I have copied a useful link for you too read bud.hope this helps, regards H.
I have stuck to my guns and going to wait on the sp, so going to keep what I had bought, but yes I was tempted to buy another 3k worth,I was just about too say the pattern this last week has been a strange one to me, then I remembered I have seen this before with oil shares, normally this behaviour signals big buys/sells or the mms balancing there books, then smack look up at the late trades and there you are nearly 800,000 shares dealt with,can’t tell what way they went, but when I bought my small holding the purchase didn’t show up which again was odd. I am optimistic this share will gain ground to maybe high 60s, so much upside still I say, anyway we shall see munch. G.l. As always mate regards H.
Hi munch I bloody hope so, it’s got too as oil is rising strongly hope lockdown measures start to ease.
Morning munch, firstly I share you frustration, yes the amounts quoated are staggering, I am guessing as these are written in contract and deals were made therefore it will become good at the end of the terms. Unfortunately there are still some time to go on when the time constraints are up so we will have to wait. This is only a guess but I think these two wells are/will be drilled and bought online in the Oben project, as Seplat can see more benefit extracting and supplying gas going forward then oil production, it’s abundant,cleaner and cheap to maintain. The eland bit, we are still tied into the 45/55 split with elcrest, so that’s why we are only seeing 8/9 k bopd from the newly acquired eland. I’m a little puzzled why there is a lack of updates on how the eland assets are going forward, wells and the exploration side but I guess in time this will be reported in good time. As I have said a few investment trusts have dipped there toe in so it’s a sit and wait unfortunately. Hope this helps answer a little. CheersH.
Hi munch looking at the results yes the revenues have fallen due to the double whammy covid and oil war, they also are awaiting a uplift figure of $47 m from frocados but it’s hanging back because of the oil glut, so add that to the revenue figures then it would look a lot more healthier,I also noticed they had taken the bold decision to spend a further $20m this year on 2 extra gas wells, so this to me spells confidence, do you know the percentage of gas revenue to oil as it illudes me without going through all the figures, but I’m assuming as the company keeps saying gas is far the majority and therefore not effecting cash flow too much. I’m sitting on a loss atm but confident when things turn they will turn very quickly indeed. As always stay safe regards H.
Hi too you both,right got it, I suppose any amount of shares for Seplat atm would be in short supply, I had recently read Lazard,Kbi and bws investments had bought in to sepl all around the £1m mark each, so they must be pinching themselves at these prices. We will sit a be patient for now as always GL all regards H.
Hi ntl sorry I didn’t understand the last bit of why there was such swings in the sp, can you explain again please. Cheers H.
Yes divi is still on track, in may sometime, yes like you I was surprised that it jumped 6p in a flash then dropped back, no reason which was odd, I’m happy to buy in where I have and have prepared to let this run at least to the oil price recovers also Seplat still on track to drill 3 more wells to up production, as you say like me I’m fed up with research on this one now, ive set my goals, set my limit losses,if it goes belly up then so be it, but I know I’ve done my best. Good luck pop regards H.
Hi ntl you share my sentiments in this little unsung oily,but as I’m discovering no so little soon.... I had been lucky enough to come across elland at the time, as like you been burnt before with Gkp !! I took my time read an enormous amount of research and bought my first holding of £4000 @ 28p, then held my breath bought a few more after about 2 years @around the 50 p mark then Seplat bought Ela out dec 2019. With Seplat it has debt not good atm with the current situation but looking along there planned timeline this company could quite easily become the biggest gas in Nigeria {fingers and toes crossed} as you said it has hedged prices for oil atm and the gas business is really the main moneymaker here, risks are clear to me here but in my opinion they far out way the positives, for me buy the shares sub 60p which is still a bargain, and look again in a month, I’ve seen Spain is already considering opening in June with temp checks as you enter for a drink. Oh don’t forget Seplat also proposes a divi although small due may 20. Here’s a link for a bit more info for you. Keep safe ntl H. https://markets.ft.com/data/equities/tearsheet/summary?s=SEPL:LSE
Welcome needtolearn or three of three ! as you can see from our posts we are fairly upbeat on the share too, please start and if you want to read seplats website of what the oil\gas producer is all about, especially the upcoming onstream gas terminal which is the anoh project due for completion q4 2021 now. I am no expert or big time investor, just happy with the potential I see in this company. If you like to share your views I would be happy to listen. Regards H.
Yes munch definitely a buy and hold for 12/18 months, then if there not in joint partnership this share price will be good way north from here, I see they have curtailed spending on anoh for a while because of the current covid business but get past this and she will take off, good thing is a good percentage of Seplats income is mainly from gas supply which isn’t effected too much atm, anyway keep safe, regards H.
Good morning munch, yes I remember you from the forum, I was lucky with elland i held my nerve as I had complete faith in what they were doing. I have that same gut feeling here, as I mentioned I have been sitting on the sidelines for a while now, I particularly like the diversity now, the company has kept its bread and butter oil revenue up but has the foresight in looking towards gas as a cleaner energy source, of which the gas terminal (anoh) is due to come online next year also fully funded. I missed the 40p mark about a month ago, I also noticed how quick this share gathers pace when there is a glimmer of hope. The website is a great research tool, another I had been watching was Jadestone and JOG, how about you ?? Well pleased to hear from you munch. Kind regards H.
I have been watching this share for some time now, I would welcome opinions on investing in this one, to me once this covid 19 business has peaked this will move steadily northwards, I have looked and done a lot of research, so my conclusion is, it’s well run,cash in the bank,the company seems to be moving more towards gas than oil export currently building a huge depot due for completion q4 2021, diversification and forward thinking about the growing demand from Nigeria expanding gas supply market to meet demands. It had purchased elland oil back end of 2019 to increase its reserves and terminal facilities, to me seems a sound company investment, if I am missing something please shout, I have included a link of highlights if you are interested, keep safe regards H. https://seplatpetroleum.com/media/1422/seplat-full-year-results-release_final_23032020.pdf
Hi Stuart, hope you are keeping well, just a opinion I’m after really, could you give your opinion on Seplat I have been watching there progress this year (post elland) and noticed there share price very reasonable, like others I may add, what caught my eye was the ANOH gas project which looks likely to come on stream q4 2021, I have posted a link for a bit more insight kind regards H. https://seplatpetroleum.com/media/1422/seplat-full-year-results-release_final_23032020.pdf
Morning gents I had been scrolling through various sites, came across this link all about the Rns in detail interesting factual read, I’m more convinced now to dip my foot in a little more after a small investment in November, kicking myself really as I should have done this on Thursday!! As always gla H. https://www.sharecast.com/news/aim-bulletin/lekoil-shares-surge-as-it-secures-funding-for-ogo-drilling--7204392.html
Firstly happy new year fella, I’m grinning from ear too ear as I bought in on the strength of your and my research knowing what happened with eland, I bought a small holding in comparison too most (£3.50k) @ the 4.8 p mark in November, this possibility I think is bigger than eland this time, wow $184 million fully invested crackers as market cap $40 million. Well cheers Stuart 2020 has turned out great already, go on predictions I reckon 25p by June and yours ??? Cheers H.