RE: Gideon News24 Apr 2024 09:50
Here's a translation Part 1:
Inviting Avishai Ovadia for a discussion with Gideon. Tadmor, the founder and head of Jets Tadmor, who was in management under the management of Delek Group during the discovery of gas at Tamar. He established Nevita which purchased drilling rights worldwide and enhanced them, this is reflected in significant value creation. The stock has risen by 2.5 times year-over-year to a value of 4 billion shekels. Where do we go from here? Hello, how are you? Thanks for coming, I'm glad you’re all settling into the chairs here, it seems to me, Tzachi, that’s you, Gideon. I want to start with a question to the audience. A theoretical question: You invested in a stock that rose by 150%—do you think the chance of staying with it is high or low, and in your opinion, high? Good, you know what I’m aiming for but the natural choice, let’s call it that, of investors after a stock rises 150% to 200% is to cash out, and rightly so it usually means there are usually drops after rises, right? If the value has already increased then why keep holding? There are other things I'm saying this without necessarily giving advice or stating anything, but I’m saying it in continuation to the fact that last night I read the reports of Nevitas. Ah, and about a year or a year and a half ago we followed them and saw very significant potential especially in one of the largest drilling projects we of course, we write what we believe in, it has risen since and I told myself last night for sure it’s nearing its peak but I keep reading, and not just reading, there are very significant tables that speak of very significant saturations. Okay, I will do it very roughly take the expected profit if and when the partnership reaches the end of the drilling in what’s called Shennanduah. Shennanduah, I keep getting it a little wrong I'm dyslexic, I understand you’re promoting now you’re encouraging, ah so it’s not a drilling it’s a project and it needs explaining because it’s very important it’s part of our strategy we’re not looking for oil we develop and produce and therefore it’s not theoretical the challenge is to develop which is the non-binary challenge it’s about finding but the challenge to develop is much less challenging in that sense if you take financing for it maybe one of the arbitrage situations known to them the ability actually to go to the Israeli capital market and bring from it both equity and especially debt for the development of projects that have already been discovered that’s what we know how to do by the way it’s a strategy I think is unique in the world in this upstream sector so these numbers actually represent the NPV.
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