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Interesting that they were quite dismissive about KIST and i thought i heard them say that they were a small company lol. Which i guess they are based on production verses SQZ, however, they are debt free, growing production and probably have more net cash than SQZ imho. Feels like there is still some bitterness from AA trying to takeover SQZ.
Does this RNS and share buy back get me to buy back into SQZ - nope, net cash is way lower than expected, i would of expected the combined group to have higher production, is a progressive dividend really safe, debt laden, not enough net cash to make any meaningful acquisition and Labour gunning for more cash from oil and gas.
It will be interesting to see how KIST end of year results stack up with SQZ, where they have lower production - i bet they have a lot more cash
Been here since initial IPO and topped up at 1.25, looks like share price has run out of energy short term. Do we get a sell off on production news or the start of a bull run?
Feels like production is priced in but revenue and EBIT isn’t. Market will be waiting for this info
Mommur - it’s pretty risky buying this side of the election? I am expecting all North Sea oil and gas shares to tank if labour wins. So that has prevented me from also topping up.
Despite AA airing his views in some interviews, he hasn’t really talked about any overseas assets other than the Nordics.
He did make a private buy into a company called URAH though.
I wonder if he will diversify KIST into non oil and gas assets
I find it really odd that the share price isn’t a lot higher, market cap still very low for a company about to go into production. Some high profile investors as well like Andrew Austin if he is still holding.
It’s good that they are now drumming up interest by doing some PR and they are active on X, however i think the market wants to see what the revenues will be like once production starts. Revenue production will be the key driver. If its all good then it will be a multi bagger from here.
I see Ithaca have announced a possible merger with ENI today
https://www.lse.co.uk/rns/exclusivity-agreement-with-eni-spas-uk-business-71us2flykg4ddv8.html
One of the slides in Gills presentation this week suggested drilling in South Africa and Guyana in Q1 & Q2 2025, so if all goes to plan then its not too far away. We should get news ahead of that for any farm outs for Guyana and Namibia
It’s (North Sea oil) being used a political weapon and the tories are running scared of labour scoring cheap electoral points. Reckon that after the election if the tories miraculously win they will come to their senses - we will see
Mind blowing tax rate at HBR of 95%, however atleast they are returning significant amounts to shareholders with dividends and buy backs, from their end of year financials RNS:
§ Profit before tax of $0.6 billion (2022: $2.5 billion); profit after tax of $32 million (2022: $8 million) reflecting an effective tax rate of 95% (2022: 100%)
§ Free cash flow (post-tax, pre-distributions) of $1.0 billion (2022: $2.1 billion)
§ Returned $249[2] million through share buybacks in addition to the $200 million annual dividend, resulting in $1 billion of shareholder distributions since becoming a public company in April 2021
Lol, its in the title/ subject of the post