Member Info for MozzaBezza

I think I may have jinxed this! Oh well, my umpteenth top up in the vague future might be below my average if it does drift, so it's not all bad.

It's funny because if you look at the chart here you'd think we'd gone into suspension ~ a month ago.

Today, if the spread stays here, it will be the 21st session in a row in this 80/85p band - it's odd because there were trades below the bid, that were reasonable, but they never shifted it and the ask has remained steady even though there have been points when it has had a reasonably consistent buy volume, although I accept that the volume has been low during this period.

I've given up speculating here, because I've rather been defeated by the continued war of attrition through boredom, but maybe, just maybe, we can read something into this.

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Well, hopefully your comment is a hint that you have heard something positive is going on behind the scenes...

I just hope that they can get a good deal over the lune soon!

I'd second most of that, Paul.

Additionally, I think that a lot of these deals are taking longer to structure than they previously have because as LBE said in their latest presentation, most of the deal process even for smaller packages is being done by the banks, but also because the deals that are being completed seem to have so many contingencies in them now compared to simpler cash only deals of the past.

Thanks!

TBH, I think that's a really good summary of the potential issues here - I think that we'll likely have radio silence until either a deal, or the next general update, because thus far, they seem to have decided to communicate as little as they can get away with and I can't see that changing much.

I think this recent period of the 80/85 spread (16 sessions I make it) is the longest that the spread has been this flat for on a daily basis - not that this means anything, bar not a lot of volume being traded.

I think it's a tricky one. The problem is that I can completely see why they wouldn't want to say much pre-deal(s) incase they fall through, or due diligence comes out counter to what was expected, etc. Also, undoubtedly we can write off probably at least six months due to covid alone, so for periods of time there perhaps really wasn't much to say.

Bar anything horrendous, I'm here to stay, but I just really hope they can actually do a production deal, because I'd be really quite annoyed if we've waited this long for what turns out to be an exploration asset.

This all being said, it's ultimately all about structure. If they can raise equity for it at 300p then then i'll be happy if they've bought an ice-cream van, TBH.

On one hand we do have the liscence application tidbits, but equally any other firm would probably have put an RNS out explaining why they need this, how long it will take, etc.

I've often thought that there's a lot more that the BOD could say, but that they just seem determined to avoid it.

Right now, bar an actual deal, we're waiting on news re. those job spots and liscence approval.

Thanks, Paul. I don't think I would have noticed that if you hadn't said.

The wait is epically boring, but it's nice to see that they're applying to be a licence holder. In theory this shouldn't take that long, one would hope!

The biggest issue we have is thst until they give us an update of some kind there's not a lot for us to say really.

Hopefully the new jobs will be filled soon, which might give us something to talk about!

Until then, I'll keep gently dripping money in here.

I welcome the special divi, but I think a buyback would have been better.

The thing is, there weren't really marginal buyers for the stock at $68/bbl brent and a stock like GKP will always have a relatively high dividend yield due to the geopolitical risks associated with the region, so further dividends I don't think are likely to push the share price up.

Most shareholders will make the majority of their returns from an appreciation in the share price not from holding for the dividends.

The fact is, they can increase the dividend per share by buying back stock and create that marginal buyer in the market at the same time.

This maybe wishful thinking on my part, but I lean more towards Paul's assessment.

Mainly, because I think it would be quite hard to get the institutions to sign up to a major change of plan like that when they would have all been in thr IPO in the basis of the cash flows.

That being said, I'd much prefer a production deal over an exploration/development deal, so I may be clouded in that respect.

I think Equinor operate something like 70% of the assets oil and gas assets in Norway, so it makes sense that Longboat wouldn't need this, as they'd only be likely to afford minority interests in any of these fields we think/suspect they are looking at.

Fingers crossed we hear something from them soon! I just hope any deal is done on good terms relative to the IPO price of 100p.

Great find indeed! Does seem to suggest that something is going on.

I share a similar optimistic nature. Particularly, because they'll have to drop hints at the AGM that they are close to something I think, in order to definitely secure that vote, not that I think they'll struggle.

I have come around however to thinking that those jobs must surely suggest that we'll at the very least get an update on why we needed them - presumably an RTO and a need for permanent staff, but we'll see.

Added a little more today, nothing to write home about - 1,586 shares.

Surely they must be close to achieving something soon!

Just a hunch, but I reckon the sellers this morning are fed up/stale bulls who're moving over to KIST.

Nevertheless, I might actually be able to buy near/below my average on my next top up, which would be quite nice, as it was looking like I'd be averaging up again.

Yeah, I had thought about Scott too, but the problem I can see there is that it's a pretty mature asset now, so if they took the decommissioning on they might get it for very little, but nevertheless it would still go against their plan to limit their exposure to decommissioning.

I still reckon that they'll go for something in Norway that they've previously dealt with at Faroe, but I've discussed that before so I won't repost my views.

I hope so, Paul! I have come around to the idea that they'll only be after permanent staff because they've turned up the dial a notch in one way or another. I would guess that they'll be interviewed and picked out within a couple of weeks, so we'll find out who gets it via Linkedin/the company website.

I think that's excellent analysis, BTW on KIST vs LBE, Haggis. I've always felt that AA is an excellent deal maker, rather than an actual oil and gas expert, which seems to have just been the sector he ended up in.

I think that to a large degree KIST were hammered by their relatively high market cap pre deal compared certainly with RRE.

This is at least I think we're LBE have an obvious advantage on any deal (assuming it's structured sensibly).