Member Info for Mema555

Yes same for me.

Any thoughts when this will get started? ETA was end of Q2. The 2 weeks downtime will have had an impact but would have thought we would see some news on this by now.

Yes 2027 should start seeing more rewards, however in the meantime oil production should also increase by around 15kboe a day any moment now.

Starting in 10 years time… plenty of future sales in the pipeline.

Could not resist and bought some more today. Lets see what results bring on Thursday.

Yes agreed, I bought this stock for 10-20% yield pa over the next couple of years to start with, not for massive short term capital gains.

The additional liquids will help replace some of the income from sold assets until new gas from Karish in 2027. Personally I still expect div increase from new policy

Strange reaction but short term noise for me. I do not hold to trade, long term income is why I bought. Plan and expected divs in the future are unchanged and I only see increasing,

Looks like installation going ahead as planned

https://www.reuters.com/business/energy/energean-loads-new-oil-unit-onto-vessel-offshore-israel-source-says-2024-10-25/

Shorts have a negative impact on the share price on the way down. I don’t think some of the funds are shorting due to the quality of the company/assets, suspect it is more a hedge for the region. The shorts work great on the ahare price if they there is a short squeeze.

Morocco will have other opportunities, just not this specific Anchois drill.

Second oil train, not sure but believe I saw somewhere these could add 25kboe a day once setup. Hopefully this is still scheduled to happen over the next couple of months. Should add decent cash flow.

Karish still over 2 years away but this should add a decent amount once it is in production.

in the meantime, pay off $450m debt and cut interest expense and pay special div in 2025.

if investment spending does not go up much, hopefully there will be some room to increase div in 2026 and Karish to provide more room for increase in 2027.

Not in here for short term and although I like the special div, I would rather have kept the assets ENOG is selling, to provide some more diversification. But the pipeline of potential developments after Karish is healthy and as long as the situation in the region does not deteriorate much more I am happy to hold.

Guess they crossed the reporting threshold, they may have had a smaller short position already. They will be paying around 2.5% of the stock price in about two weeks to the long holders…

So total divs around $3 per share in the next 16 months, not a bad yield... With second oil train coming online in next couple of months and Katlan expected to start producing H1 2027 should be some cash to increase divs at some point.

The special div is up to $200 mill and the $486 mill includes this months div payment so not seeing a cut in div next year based on these numbers.

Assume the drop before dividend has something to do with the recent article that came out. Not sure if this was written by anyone that understands the facts and is aware of the dividend policy.

https://finance.yahoo.com/news/dont-race-buy-energean-plc-071734603.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAJQ5Vh1wesrS__hsFmBC9GCKTKhIWJ_NEdYubITBlwHzgLgoRkLu2O9nTmnS9ZhCQrDo1oglrNaBcf_o9ExpjGX4QYVPQrZsF8M6-Euw7JaK5_AgT5pmuXH7LU0utUaT0KtlXbk34tFiYEpe_d3-RcRdS3GE9nIF3dNUSge72cE6

Still some large shorts out there but shareprice not helping them. Must not be easy to close the shorts with not enough sellers out there. Long term hold for me!

Https://www.mees.com/2024/3/15/oil-gas/egypt-drilling-orion-flops-as-shell-kicks-off-six-well-wddm-campaign/3e4d8ed0-e2cc-11ee-b128-ab5271ed0f5a

ENI did say during their earnings call on 21 Feb that they were still drilling and had not hit the target yet.

During the last operational update on 18 Jan they mentioned that results were expected in 40-60 days. Day 57 now. Lets hope that is a good sign.

Great news indeed. Orion drilling results should also be out any day now.