Member Info for Neversellshell22

Some on the bonds are being sorted out and amended to move to Harbour..

https://wintershalldea.com/sites/default/files/media/files/Senior%20Notes%20-%20Announcement%20of%20Voting%20Results%20Feb%2022%202023.pdf

People don’t get these are actually Harbours results…

Annual Report is well worth a look.....

https://wintershalldea.com/en/newsroom/reporting-2023-business-year

Sorry Free Cash Flow I gave was for the year.

Q4 gave us 197$ Million of Free Cash flow....

Cash not great but lots of investment spent which will reap rewards in the next year ......

Norway – Production from own operated Nova field ramped up to

planned levels during the year; Production start from own operated

Dvalin field; Maria Phase 2 subsea template in Norway successfully

installed, start-up planned for 2025;

o Argentina – Fénix project progressing ahead of schedule, start-up is

now expected for Q4 2024;

o Mexico – Successful own-operated Kan prospect, preliminary

volume estimate of 200 to 300 million boe in place;

o Egypt – FID for Raven West development (West Nile Delta), start-up

planned for Q2 2025;

• Other developments:

o Norway – Successful appraisal of Bergknapp and Ofelia discoveries;

8 PDO’s approved by Norwegian ME;

o Mexico – Acquisition of a 37% interest in producing Hokchi-Block

closed;

o Carbon Management and Hydrogen:

• CCS portfolio continues to progress with 3 addition

Free cash flow minus £27 million $......

Not a great picture.....

Https://wintershalldea.com/sites/default/files/media/files/Wintershall%20Dea%20Q3%202023%20Results%20Presentation.pdf

See attached last Quarter.

Some pretty dreadful performance. Be interesting to see if tomorrow improves??

https://wintershalldea.com/sites/default/files/media/files/Wintershall%20Dea%20Q3%202023%20Investor%20Release%20EN.pdf

Https://wintershalldea.com/en/where-we-are/united-arab-emirates

From what I can see they are looking to sell this but don't think they have yet??

Https://www.youtube.com/watch?v=ZoFyVU3UQc8

Bigger than I thought...with plenty more to come.....

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

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

Tonights homework......?????

Thank you Stevo, well explained and logical. Very grateful for your time.

Hopefully Thursday should shine a light on things a bit more with Wintershall and we should also have our own drill results pretty soon.

A real pleasure to be on the board these days.......

Thank you all for really excellent post.

My last post was about the £3.60 share price which I’m struggling to see is notional. BASF must have been given certain assurances regarding this or a further cash equivalent if it does hit that price.

Appreciate everyone’s thoughts and get to have a decent board now.

For me we have got a good deal with massive potential from Mexico, Argentina huge and could go exponential and Norway will keep delivering the goods. That’s with out our own goodies Andanam etc…

So Harbour have stated they will "issue Harbour equity". "For the purpose of converting this into a shareholding a value of £3.60 per share was agreed with the sellers.

Does this some how guarantee the shares to be worth at least £3.60? If not what does it mean and if there is no guaranteed £3.60 price why did Wintershall Dea do the deal?

Any thoughts ?

Https://www.ft.com/content/08fa8ef9-8da9-49d0-97ab-3abbe5855d50

Hi londoner7,

Thank you so much for a very detailed and thoughtful post.

I cant fault any of your figures which all seem pretty spot on but as we know Gas is currently very very low whilst oil is now in a better places. You can easily get doomsters who say they will both fall further but there has been a real cull in exploration expenditure in recent years so could easily go the other way which is what I believe will happen and the alternative energy sources just aren't ready to take over yet.

Re the cash flow for the 2.14 Billion there is also the Wintershall Dea production which I know has been negative so far this year but Im sure that will magically change now and we have up to end of this year to go with approx 500bopd equivalent and then ofcourse our bridging loan of 1.5$ Billion. So rabbits out of hats there I expect.

Whilst I cant argue with your figures as always we don't get all the facts and for multiple banks to be willing to get involved in a deal with over 11 thousand millions dollars, thats a big number they must be more than convinced the deal is on firm ground especially after talks with multiple people who are confident Harbour will get investment grade in future.

Thanks again for great post....

NSS

I didn't realise that this was such an important part of the deal. Whist it still needs all external parties to agree to it to me it looks like the actual deal between Harbour and Wintershall is pretty much nailed on.

https://www.eqs-news.com/news/adhoc/basf-se-harbour-energy-plc-and-the-shareholders-of-wintershall-dea-sign-business-combination-agreement/1965081

I've spoken to some pretty sensible people who believe that actual true value of Harbour should land at about 15$ Billion when things settle down which if correct will give us an SP of.........?????

They have had a couple of months to look at this appraisal well so might get so news on it soon. 40 % is Wintershall Dea share, 44-75 million oil equivalent and 6-25 million for the deeper "Are" discovery.

Might get some news with our results in a couple of weeks.

https://wintershalldea.com/en/newsroom/pi-23-44

Just appreciate anyone’s thoughts why we got this deal over them.

Don’t get me wrong I’m pro deal but surely they could have just paid the price and done the deal.

Clearly Wintershall see something big in being partners with us for a few years.

Any thoughts.

https://www.offshore-technology.com/news/adnoc-weighing-wintershall-dea-acquisition/