Member Info for MozzaBezza

I just hope that any deal we get on production (and that feels far off even with all their recent rhetoric), is structured properly.

I.e. Let's make an assumption they find someone who will lend to them/swap/etc and that they find a production deal.

They need to ensure (somehow) that we're priced in the market sensibly - if we open up at 15p and a load of people run in and buy at those levels, then what has been the point of being a shareholder for these years?

It all needs very careful consideration on a structure level.

Ooooofffff. Painful move this morning.

I know the feeling. The thing is, these investor meet functions are always going to be a bit like that because they can't tell us anything market sensitive.

I think it was broadly speaking a good meeting all considering, but until Blackrock finish selling down or we get some really epic news, I can't see the drift here being likely to stop.

To be fair to him, he's answering the difficult questions. I think my strategy here stays stable - just gently averaging down whenever other opportunities come in, but I'm in no rush.

Production deals between 1k and 4k boepd for production deals, which would be nice (if they ever actually complete one)!

Watching it now. So far nothing new, but I guess any clues will drop during the Q&A.

RNS reads alright. I think for those of us who've been here a while, we won't be getting excited about anything until we see some actual money arrive either in cash form or BOEPD.

Now a deal along those lines would be fabulous! I suppose time will tell if they're able to pull one off, so we'll have to wait and see.

At least most of us here are well used to waiting!

I'm quite surprised they didn't suspend this. It all feels a bit odd really considering the circumstances.

However they decide to fund this, it clearly hasn't done the share price any favours so far...

Entirely speculation on my part, but it wouldn't be surprisibg if there's a swap between partners for Kveikje.

I. E. Idemitsu, have assets in Vietnam, Cambodia and Thailand, but also own a portion of Kveikje.

https://www.idemitsu.com/en/business/resource/oil/project/vietnam/index.html

I think I just want it to be a good deal, tbh, with some production.

It's much easier to value the company properly when we have money flowing to the bottom line rather than away from it, so to speak.

Very interesting. Sounds to me from this bit below that they will be production in the mix, along with a bit of exploration and development. Fingers crossed all - it'll be particularly nice for those of us who've been here a while waiting for this moment.

"discussions with a number of parties regarding several opportunities across all phases of the E&P cycle in the South-east Asia region."

Now that's very interesting! I'll have a good look in a bit to see if anymore can be uncovered.

Well, right now, the volume, or lack there of, suggests that if the rumour is going around that not many people believe it at any rate.

Bid or no bid, the firm is cheap right now, in my opinion.

I'm still happy to keep chucking money gently in this direction, but I'll hold my hands up and admit that it's 100% a gamble on them achieving something, which increasingly feels more and more sketchy as time goes on.

I think at its core, that's the problem - everything is done seemingly very slowly.

It's hard to get excited about something very far in the future and it's even harder to get excited about production deals that haven't and might not even happen.

It would be nice to get an idea of scale again.

They've been hinting at looking more internally for deals, but what does that actually mean from a boepd perspective. When we IPOed he said in an interview that we were looking at 2000/3000 boepd for a production deal in Norway/north sea.

Presumably we'd get more looking more internationally, but what does that look like?

It has always felt that the BOD say as little as possible, when they could say more.

They'd never be able to raise enough money to buy the whole thing, but perhaps this is the sort of thing we're talking about - they could swap Kveikje into a deal like this plus some debt and maybe some new equity to get a chunk of production.

https://www.reuters.com/world/africa/equinor-joins-western-oil-firms-retreat-nigeria-sources-2023-01-25/

Dripped a little more in today.

I do reckon that if they're after international assets we'll find out fairly promptly now (assuming success), because they've been hinting at it since the 26th September presentation.

Fingers crossed if they do come up with something that it's actually a good deal with some flowing barrels of oil equivalent.

One of my worries is that any monetisation from Kveikje is effectively just used to keep the exploration strategy ticking over.

2.8m boe net to Longboat, at even $5/boe is only going to get them ~$14m, which isn't going to get you a lot of production, but would basically get you more exploration.

Even if they are looking internationally for production deals, that still wouldn't buy you much. On similar terms to AET's deal, that would get you ~700bopd.

I'll probably grab a few more in a week or so, but I'll be honest with you all, if this comes up to my average I'll be gone quickly I think.