Member Info for IAmNotAnAnalyst

Thanks Albi - Harbour energy seem to have a lot of money to spend, I'll have to read up on them a bit more if possible.

Albi1, I thought they paid for the assets with debt so I'm not sure how much more debt leverage they'd have at the moment - although I cant find the reference to that now?! Aren't they now due to produce 180kbpd, so expected mcap is what £4-5bn, I'm not sure of their costs? But they spent £2.1bn on these assets and £2.3bn a few years ago on shell assets....that's a lot of money. I guess it depends how much more money they can get their hands on. Either way there's a fair bit of buying going on at the moment.

Agreed - the result was far from what was expected so it needs remodelling to understand what the potential is. To sell it on you'd need a compelling and credible pitch, for which you need to have an updated model in this case.

The RNS before said final results are expected week commencing 29th April.

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BlooBird, I mean that as at Ithica with the Greater Stellar and HUR with its fields the market cap is based on the potential of those fields not really the 10-20kbpd in production. So calculating any ratios based on cash flow/profit/revenue to give a valuation I think should give a lower valuation. The EPS and 17kbpd gives us the cashflow to develop more quickly, that's where the value is for me at least.

I can't see P/CF being as high as 12.5 compared to peers. This company is valued on its reserves in other fields being realised. You aren't worth almost £1b based on the potential of 17kbpd.

Does anyone know if we are impacted at all by Iraq's oil production limits or is Kurdistan somewhat excluded? I'm assuming not, but I'm just curious!

This was posted on the ENQ board and is an extract from a Canaccord 'sector review' quoted in the FT (thanks go to user romaron for posting over in ENQ). Top picks: PMO: Oil price gearing and inroads into the admittedly still high net debt are providing a strong rationale for investor interest, supported by the potential for positive Zama and Sea Lion news. RKH: Very much the geared play on Sea Lion and there should be indications of senior debt availability by this summer. We see an upside skewed investment opportunity on that catalyst alone, and scope for further news in the autumn on the Italian arbitration.

If oil was at $100 also presumably.

Ooo eee, I've been looking forward to this!

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Does anyone know what the OPEX per barrel is likely to be? I haven't seen an estimate anywhere.

Very bizzare drop, I was trying to see if there was any news. But I can't find anything.

I think it would be better to buy a struggling producer who has a bit of debt keeping them down. I thought the specialty of this company was getting more out of aging/difficult(?) assets, not exploration and early development.

Oops, my mistake - Tuesday

Hmm, it's not looking priced in to the IOG share price if the negotiations are still ongoing. There was a fair drop on Friday and they're at 17p vs the offer of 20p. It's strange not being about to see the reaction of the RRE share price. I hope all will be revealed at, or after, 5pm on Monday.

JL what a good man, you tidied up the names!

More for RKH. Considering the balance for oil supply and demand over the next decade I'd say $70 is not such an unreasonable target. RKH on the other hand are sitting on a huge reasonable $/bbl asset which makes a lot of political and economic sense for the UK.

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