Member Info for Neversellshell22

Will this be positive for Zama.

https://www.bbc.com/news/articles/cp4475gwny1o

Https://wintershalldea.com/en/newsroom/pi-23-36

https://m.youtube.com/watch?v=uu-9-rowumg

https://www.linkedin.com/posts/samehsabry_joint-venture-of-wintershall-dea-and-egas-activity-7092397786435874816-HWWE

https://wintershalldea.com/en/newsroom/pi-23-36

Https://wintershalldea.com/en/newsroom/egyps-2023

Wintershall Dea has been active in Egypt for almost 50 years. The company’s history in the country was rooted in crude oil production. From the 1980s to the early 2020s the company produced more than 650 million barrels in the Gulf of Suez concession. Today, Wintershall Dea is focused on natural gas in Egypt. The company produces gas at Disouq in the onshore Nile Delta as part of the DISOUCO joint venture and as partner to BP for the West Nile Delta offshore gas project. And Wintershall Dea is looking to a bright future: Exploring at East Damanhour in the onshore Nile Delta; partnering with BP for the North West Abu Qir offshore exploration block. And investigating opportunities in the field of carbon management and hydrogen. Today, tomorrow and into the future: Wintershall Dea is a strong energy partner for Egypt.

The onshore concession Disouq in the Nile Delta includes seven gas fields consisting of 19 producing wells. Production started in 2013. Disouq is operated by the sole shareholder DISOUCO, a 50-50 joint venture between Wintershall Dea and EGAS. In 2022, Wintershall Dea and EGAS signed a Letter of Intent to significantly reduce operational greenhouse gas emissions at Disouq.

In early 2020, Wintershall Dea was awarded the East Damanhour exploration block, located to the west of the Disouq development leases in the onshore Nile Delta. In 2021 the company began a drilling campaign that will involve up to seven wells. In late 2022, Wintershall Dea has made a first gas discovery at East Damanhour: The discovery has been tested at peak production of 15 million standard cubic feet per day. Existing infrastructure at Disouq should enable quick development of any commercial discoveries.

https://wintershalldea.com/en/where-we-are/egypt

As it quiet I’ll fill up the board with stuff some might interest but will go over some head….

https://letterone.com/our-businesses/l1-energy/

These are the people advising letter one.

https://www.akingump.com/en/insights/press-releases/akin-advises-letterone-on-dollar112-billion-harbour-energy-acquisition-of-wintershall-dea-assets

I don’t know exactly how much they have invested in various pies but I’m guessing 15-20$ Billion… Big Players….

As always….. Follow The Money…

Https://amp.theguardian.com/world/2024/apr/10/russian-oligarchs-petr-aven-mikhail-fridman-court-ruling-eu-sanctions

So one of Harbours problems was the owners of Letter One were sanctioned …

https://www.ft.com/content/c1837a20-6147-45c5-876c-add96ee8432c

They still own 50ish % of the company but resigned from the board however so the company itself wasn’t sanctioned.

I’ve just found that the sanctions on them have been lifted so it might change things re how they invest with us. It might be nothing but it could be anything from them changing their shares to voting shares, increasing their stake and buying some BASF to me chasing shadow s as usual….

Any thoughts???

Bonds like this are rolled over very easily so they may not pay them for many many years.

I’m trying to get my head around out how much of the company we will own % wise and what it means about non voting shares being converted to ordinary shares.?

We start with 53.5% and 45.5% if Letter One convert their shares which surely is a certainty.?

“Approximately 921.2 million new Harbour shares issued to Wintershall Dea’s shareholders (the "Consideration Shares") at an agreed value of $4.15 billion or 360 pence per Harbour share, representing a premium of c.60 per cent to Harbour’s 30-day volume weighted average share price of c.227 pence16, such that on completion:

– BASF, a 72.7 per cent shareholder in Wintershall Dea, will own 46.5 per cent of Harbour’s listed Ordinary Shares with Harbour’s current shareholders owning 53.5 per cent”

– LetterOne, a 27.3 per cent shareholder in Wintershall Dea, will own 251.5 million non-voting, non-listed convertible ordinary shares with preferential rights (the "Non-Voting Shares"). If the Non-Voting Shares were to be converted into Ordinary Shares, Harbour’s current shareholders would own 45.5 per cent of Harbour; BASF and LetterOne would own 39.6 per cent and 14.9 per cent, respectively

Nav Mike,

That would be a great result if that occurred. We got punished big time by the last lot but we are much bigger now and control is spread over many hands including us, the board, Slim, BASF, Letter One and other large funds.

I feel much more confident in a more transparent future this time but will be pleased in a year or so when we have a more settled share holding and have got rid of BASF and possibly even Letter One. With their extra dividend they will be expensive to keep…

BASF are in a hurry and committed to selling out of the oil business and therefore Harbour as quickly as possible. This is what they said….

“Completion of the transaction will create opportunities for BASF to monetize its shares in the combined company, as Harbour is listed on the London Stock Exchange.”

So how will they do this. Cash will be short initially so buybacks will take a while.

Will we have a major institutional investor or is there another solution?..

Good luck "All at Sea", sounds like you had a very rough ride. I was in PMO and made plenty and then got basck in and lost the plenty and plenty more beside.

What happened was unlucky it was almost criminal with some of the biggest holders shorting the shares if I remember. PMO had brilliant assets we are living off today but debt killed them same as GKP, Xcite, Max and others joys I've held.

Based on debt reduction, production, dividends I hope that Harbour prove to be a better company. Certainly the debt looks good and with Investment grade financing and currently oil and gas prices we will do well.

Good luck with your investments....

CEO and others increasing already big stake in company

Debt almost removed.100m $ remaining.

Sensible hedges to protect investment grade in 2025

Merger RNS very positive

Prospectus merger documents due in coming weeks.

Currently production 172k slightly ahead of guidance

9% Year on Year dividend growth

Talbot first oil end of 2024

Zama FEED expected this year with Khan 2 drilling in H2.

Indonesia huge potential with another massive discovery at Tangkulo.

Layaran 2 drilling currently.

Ever improving safety record.

Viking CCS progressing to FID & massive potential with Wintershall projects.

Liquidity of 1.6$ billion

2025 Free Cash Flow marginally improved on 2024

Huge Wintershall Dea upside with 500k production and global expansion.

Fenix Argentina field on production by end of year.

FT100 promotion to SP increase stability later in year.

Investment Grade financing to reduce cost of borrowing

Im a huger Harbour fan and have back this up with a very decent sized investment.

However I would advise a bit of caution about "easily hitting £6". We should remember we beat 2 other companies with many times financial clout than we have so its likely as pointed out by Londoner and other than we paid a heft price for the company. Plus remember we have BASF who we know for a fact wants to sell out as soon as possible.

Yes we will do really well but it will take time and patience, some luck with oil and gas prices and world economics, pandemics etc.

Heres to us. Have a good weekend all.....

I wonder why Harbour issued a kind of non event update today.

Are they trying to nudge up the price to £3.60.

Either way its great news and pushes us closer to 500,000 BOPD equivalent....

Any idea what date this is and where we are in the pecking order…

Hi Nightpusher,

Good to hear from you. Both of the Kurd pulses have had mixed fortunes and their SPs decimated but some investors saved by the dividend.

Apologies for my drill/drilling terminology.

On to Harbour, on the face of it we should do really really well but as with everything oilers it’s “what we don’t know” that sometimes gets us.

With a fair wind and everyone playing with a straight bar, to mix a few things we should be Ok…

NSS/Hawkey

We are currently drilling this bad boy according to the presentation so could be some more good news due in the coming months.

I think the fact that our partner Mubadala Energy is already working in Indonesia and has 4 offshore PSCs make it an exciting development.

Anybody heard anything about this drill?….

Https://invezz.com/news/2024/05/27/royal-caribbean-and-carnival-stocks-face-this-1-key-risk/

Https://worldoil.com/news/2024/5/22/wintershall-dea-to-deploy-halliburton-s-industry-first-drilling-solution-offshore-norway/

Any thoughts on why Gas is on such a charge?