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DELT RNS:
"The struggle to find a way forward on a project like Pensacola, which is one of the largest discoveries in the North Sea in recent decades, is a real-world consequence of our political leadership using the nationally important oil and gas industry as a political football at a time when energy security is of paramount importance.
Given the impact of fiscal and political uncertainty on investment decisions we have seen a shift away from investment in larger standalone projects, like Pensacola, towards more affordable, lower risk opportunities which defer decommissioning or increase infrastructure life such as Selene, and the Company's Syros prospect in the Central North Sea, where we have seen an enhanced level of interest.
Full year results not to far away, is the market expecting a good set of financials? What are we expecting:
No debt
Increased cash position from Sept interims? Net cash was 247m
Is a dividend too early
Buying back shares has been positive for SQZ with only a £15m buy back - will AA do similar - KIST has way less shares in issue than SQZ
Gas price has been lower so revenues will be impacted?
Has AA being looking at anything beyond the North Sea & Norway
Not too long to find out
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
Don’t tell me you invest based on fat man Malcy advice - lol
Probably because its gone ex dvidend and the dividend for 2024.25 might be at risk
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