Member Info for Miniforvalter

Berenberg cuts Harbour Energy price target to 320 (480) pence - 'hold'

Barclays cuts Harbour Energy price target to 585 (675) pence - 'overweight'

after the first windfall tax the share price went down to 298,5 but raised to just below 500

2022e Dividend(5) £15,350,900 $23,640,386
2023e Dividend(6) £20,395,712 $31,409,398

Oil and gas tracker has the enterprise value for Harbour at 9.557M $ - tought it was under 4.000M$ ?

Harbour Energy - UK - 205.000 boepd - Enterprice value around 4.200M$ - P2/2C 948M - Dividend 200M$ and 400M$ buyback
Vår Energy - Norway - 220.000 boepd - Enterprice value around 10.500M$ - P2 1.147M - 2C 412M - Dividend 1.075M$ - no buyback

expect exit net deb around 7-900M$

Net deb exit 2021 2300M$
FCF 2022 2000-2200M$
Buyback and dividend 2022 600M$
Exit deb 700-900M$

Are HBR buying Hurricane Energy ;-)

before buybacks started share price was 360 p - share prices was 480 p when buybacks stopped and shorters began selling

Perhaps with q3 we will see another 300M$ buyback and then share price will go up again

It is often seen that hedge funds launch attacks on a share when they stop their share buybacks. Nothing to do with the fundamentals - just pure technique

31/5 2022 - Harbour had 925.533.663 shares
16/6 2022 - Harbour started 200M$ buyback
25/8 2022 - Harbour started 100M$ extra buyback
30/9 2022 - Harbour has 863.099.367

bought back 62.434.296 shares or 6,75% of all shares - average price 432p
new buybacks after q3 - General Meeting 11 may - the company can buy back up to 138.830.049 shares or extra 76.395.753

Thursday 19:00 CET
https://twitter.com/BurggrabenH/status/1486109216603578368?s=20

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https://investingwhisperer.com/the-first-new-north-american-oil-play-in-a-decade-the-clearwater/

They go into renewables to be able to say that they are climate neutral in their future oil production. Something that the industry has learned to be very important when you need to get hold of the big investors and the experience they can get from Lundin Energy (Africa oil) will be climate netrual in 2025

"Subject, inter alia, to the availability of follow on project finance, Eco Atlantic Renewables is targeting the development and construction of c.100 MW of operating grid connected projects, in addition to securing the rights for an additional c.800 MW currently in development, in its first full year of operation"

Swedish company with solar plants operational around 60 MW and under construction 50 MW has a marketcap around 136M $

See the announcement issued by the Zenith Energy Ltd (the Company) 30 September 2020 at 19:00 with preliminary unaudited financial results for the year ended March 31, 2020. See also the announcement issued by the Company 30 June 2020 regarding postponed publication of year-end results due to Covid-19 where it is stated that the Company would publish its audited results for the year to March 31, 2020 on or before September 30, 2020. As a consequence of the Company not publishing the audited financial results within 30 September 2020, price quotation will be subject to special observation, cf. the Continuing Obligations of Companies admitted to trading on Merkur Market section 11.4, until publication of an audited annual report for this period.

PetroTal has reported that the Northern pipeline has been shut down by the Peruvian Government for public health reasons to do with the COVID-19 virus, accordingly the company has shut-in the Bretana field due to storage capacity reasons. PetroTal are still deferring capex and reducing compensation to management and Directors and obviously the operating costs at the field are substantially reduced.
Due to the nature of timing of cash oil deliveries into the pipeline, for which settlement is received as much as 12 months later the recent crash in prices has led to a substantial, $42m liability usually settled when the balance exceeds $10m. The value of this is clearly a moveable feast, not just because as with the oil price in contango the prices 8-12 months out create a paper profit on recent sales.
Where do PetroTal go from here? Firstly as I see it there is a discussion going on as to how long the shut down is likely to last, there is no guidance in the statement other than it is a ‘temporary’ situation and that as an essential industry PTAL should be absolved and the pipeline re-opened soon. On this point I believe that given its importance to the country shareholders should have grounds for optimism.
The second point is to the guts of the deal that PTAL need to hammer out, I would expect that this is being done now and we can expect a deal soon rather than later. I come back to my earlier point about contango, this payment mechanism is a beneficiary of the current rack price for Brent and therefore the liability changes as to cash sales v final repayment price. Should the relationship between the company and PetroPeru remain good then I don’t see why a deal on two fronts can’t be hammered out, firstly obviously the effective derivative liability can be addressed and secondly opening the pipeline and possibly using the significant PetroPeru storage facilities to soften the bottlenecks. As I write the company shares are down 54%, which seems way too much of an overreaction and this opportunity may be one not to be missed.

https://www.malcysblog.com/2020/05/oil-price-ascent-petrotal-genel-iog-premier-gms/

https://www.dropbox.com/s/w84ovderorz3qlm/Nota%20de%20Prensa%20-%20Perupetro%20presentó%20medidas%20urgentes%20sector%20petrolero%2019-04-20.pdf?dl=0

Just remember that "moving forward to bring the well on stream in the first half of 2020" - until then only 1800 bopd - they need to raise cash to do drilling of the last 2 wells at the licens....

No - working capital will break the financial conditions of their loans