Member Info for MozzaBezza

Eventually LBE will get something sorted, but I must confess, even I'm finding the wait to be a bit painful.

I think there's room for both KIST and LBE in a portfolio - but right now KIST certainly is in play and LBE isn't. I'm not selling any LBE though, because as soon as I do, you can probably guarantee they'll announce a big deal.

Hi Daveri,

When you say 'fallen through' do you mean that in the raw sense that they have been canceled/are not happening, or in the sense that they are the ones that had discussions reduced/curtailed due to covid?

Speculation as per usual, but another thing to note is that in LBE's half year results, they said: "These factors, together with Longboat's proximity to a number of potential transactions".

Longboat have their main office in Stavanger, which maybe adds further evidence to suggest that they will pick something Norwegian up.

I mean, that a fair point, TBH.

I think these things always take longer than people expect, but for me, KIST is a bit expensive. Listing at a £40m mcap is the equivalent of jumping RRE straight to 400p (although I accept they will have a lot of cash ~£34m).

LBE, deal structure depending, is a lot better value, IMO.

Tell us! Tell us! Tell us!

Surely we must be near an RTO by now! Fingers crossed!

They perforated EVN-X1 according to their Twitter on the 10th November, so they should have some flow tests soon I would say.

Worth noting that this comes into effect very soon and should place upwards pressure on the gas price in Argentina.

"Under the plan, the state will pay companies the difference between the price in the tenders... up to a maximum of US$3.70/MMBTU." - https://www.bnamericas.com/en/news/argentina-launches-gas-subsidy-to-boost-production

The current price is apparent ~2USD/MMBTU, so this is significant news for PPC.

PPC are adding ~1000boepd (which is mostly gas) to their production near the end of the month - I expect us to attack 2p again as that production gets tied in.

This should be a lot higher, IMO.

We should have another ~1000 boepd by the end of the month put in production.

Starting to move up now. The Bloomberg article seems to be slowly gathering momentum.

In many ways I'm not a fan of the way the deal was done, but it is what it is.

I think for buyers now, they could do very well, as I cna see this running up, but I do feel for the holders pre deal.

Yeah, but loads of comapnies are like that.

Take SOLG for example: that's worth £660m and yet doesn't produce any gold.

Yesterday was quite odd. We've had this before here where we get sudden volume spikes seemingly out of no-where.

I'll email the BOD re. updating the significant shareholders page, which still has Jub Cap on it even though they went to the liquidators a little while ago.

We IPOed nearly a year ago - it would be nice to see something good here soon!

I couldn't have put it better myself, WhirlawStones!

On the information we have from looking at how other comapnies (RRE) have done it, I think we probably raise cash at 300p for an RTO, but I'd be delighted with higher.

The thing is, until I actually read that or different in an RNS, there's little more one can do than speculate - particularly as there are so many different moving parts involved in the equation.

The likelihood is that we will suspend for months rather than weeks and thus anyone wanting out to go and do better elsewhere will be waiting a while after the RTO regardless.

Well, Munch has a point, but equally, I think that you can't assess a deal that isn't there.

It might be we suspend and come back out of suspension at a low valuation for all I know. The valuation will be what makes me decide how to play this company going forwards.

I agree with those sentiments.

I think that probably what happened was that covid got in the way of M&A discussions but that they are still on going.

The word 'curtailed' was used quite a lot and as that just means 'reduced' I think it's likely that they have just been put back 3/4 months time line wise.

Nevertheless, it remains frustrating having to wait, but I'm comfortable with continuing to gently drip in money as and when I feel like it.

I think it depends on the asset and how they finance it. It's hard for me to say i'd sell on a re-list without knowing anything about it, let alone how we go into suspension.

The wait is undoubtedly frustrating and I wish we had/were given a bit more light regarding their discussions, etc. However, it is what it is.

I would encourage people to push the board for why they cannot give us more information - because I'm certain they could in some regards (target bopd, etc).

I was just thinking the same Vampirekitten!