Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
No worries flexmw
https://assets.publishing.service.gov.uk/media/66211762651136bd0b757e2b/PR_2441.pdf
Approval received from OPRED on the 18th of April for the tieback to Triton.
Drill production well via semi sub rig.
5km production and gas lift pipelines from Triton.
7km control umbilical from Evelyn.
aims dyor
Steve,
Slide 22 of the aquisition presentation was very clear, taxable losses expected to be used in the next three years.
Will be interesting to see IF they answer my question, I'm not holding my breath.
I have submitted three questions for the Investor meets company next week.
It might be an idea to continuecthis thread to share questions and prevent duplicates?
My questions were to ask...
1. Do they still stand by the £470m taxable losses available to us following the TW acquisition and how much has been utilised to date
2. Do they still want to expand their horizons into Norway? (or The Netherlands/Denmark) and if so what progress have they made.
3. With hindsight, do they now regret turning down the Kistos merger approach.
Var have announced a small discovery at Ringhorne North. It isn't a licence we have an interest in but just goes to show that there is still potential for more upside in the Balder area.
https://varenergi.no/news/new-oil-discovery-in-the-north-sea/
I don't consider it misleading, the enlarged group is pretty clear to me. All production guidance for each jurisdiction was in last September's presentation...
https://d1ssu070pg2v9i.cloudfront.net/pex/kistos/2023/10/03092620/KIST_Interim-Results-2023-Presentation-final.pdf
dyor aimo etc etc
Apologies Surfit, damned auto correct changed your name to Surfing.
Surfing,
Your post said "Baring in mind Mime / Kistos has 10% of expected production estimated once started up 15,000 boe/d"
Do you realise that the figure of 15,000 boepd is not just for Norway but for the enlarged group, the UK, Netherlands AND Norway?
At this stage Balder and Ringhorne are forecast to be at around 10,000 boepd in 2025 and then declining in the following years to 8000 boepd by 2029.
aims dyor etc etc
NKOTB,
Hope you are well
Absolutely, unless NEO are prepared to sell at a substantial loss I can't see any buyers being quite so gullible as a certain company we all know!
Iran getting 'involved' with Israel could have ramifications for us of course. I'm hoping for a situation where we are able to aquire the other 50% of Rhum from the IOC.
At the right price of course, taking WFT into account etc etc.
Thoughts?
Our partner on Buchan looks to be looking to exit the NS.
Who can blame them?
https://www.energyvoice.com/oilandgas/551595/definite-potential-for-neo-acquisition-with-risk-to-buyer/
Production came in at 8.8k for the month.
6k boepd of gas and 2.8k barrels per day of oil.
Breakdown.
UK (GLA) to the 15th of Jan.
Edradour = 0
Glenlivet = 7781boepd of gas and 241b/d oil
Laggan = 6281boepd of gas and 327b/d oil
Tormore = 2535boepd of gas and 178b/d oil.
NORWAY (BALDER)
Total produced in the month 840,476 barrels of oil.
10% net to kistos = 2711b/d
NETHERLANDS (Q10-A)
Total produced in the month 137,734boe of gas
60% net to kistos = 2666boepd
I agree with you regarding Serica/Kistos Mommur.
An enlarged group led by Andrew Austin would immediately give us the much needed geographical diversity we need.
The combination seems blindingly obvious, I hope good sense prevails.
aimo
A fair summary of this morning's webcast there Mr Picky.
From what I could hear of the Q and A I picked up that the new site in Hungary has 10 production lines in operation and has been given audited the green light by our German partners and others.
The non cash write down of powdered met lowers the mid term horizon somewhat but it had to be done. As they said, they still feel the business has excellent growth prospects for the long term.
A £1m buy went through off the book at 14:11pm, so somebody thinks this is cheap.
aimo
A piece from CNBC on the threat of BYD, I noted that they have a factory in Hungary and so will we.
Tesla-rival BYD pushes into emerging markets amid U.S. and European uncertainty
https://www.cnbc.com/2024/03/19/tesla-rival-byd-pushes-into-emerging-markets-amid-western-uncertainty.html?__source=androidappshare
Idkmybffjill,
The Nordic bonds are listed on the euronext exchange.
You'll find the listing there, the rns was dated 29th Feb.
Points of note for me.
1. Statement of reserves at end of 2023 21.9MMboe net to Kistos.
2. In the fourth quarter, 5 cargoes of crude oil were loaded from the Balder FPU. Net to KENAS, these totaled 257 kbbl (742 kbbl for the full year), which realised an average provisional price of USD 81.03 per bbl.
3. In December 2023, the Company received in total USD 87 million in tax refund for fiscal year 2022, including interest of USD 2 MUSD.
4. At the end of the period, KENAS had cash at bank of USD 16.2 million, of which USD 0.2 million was restricted. KENAS had drawn USD 0 million under the terms of the revolving credit facility from its parent company, Kistos plc, at year end 2023.
5. In the fourth quarter of 2023, production from the Balder Area averaged 3.030 b/d net to KENAS. Total production for the full year 2023 was 790 kbbl.
aimo dyor etc etc
Production averaged around 7.5k per day for the month (4300 boepd of gas and 3135 b/d of oil)
Production at GLA is only reported to the 15th of December, this covers the whole period of the Shetland gas plant shutdown. The SGP restarted on the 16th of December, so the production figures for the whole month should be in excess of 7.5k per day.
The breakdown for the month.
UK GLA (To 15th December)
Glenlivet 27.6mmscf/d gas. 228b/d oil
Laggan 7.7mmscf/d gas, 68b/d oil
Tormore 9.3mmscf/d gas, 84b/d oil.
Total = 7905boepd
20% Net to Kistos = 1581boepd of gas and 380b/d of oil.
NORWAY (BALDER)
Total = 27,546b/d of oil
10% Net to Kistos = 2755b/d of oil
NETHERLANDS (Q10-A)
Total = 4532boepd of gas
60% Net to Kistos = 2719boepd of gas
aimo dyor etc etc
Tentative buy at 85.6p.
Hoping this is the 'bottom' before the run up to FY results on the 21st of March.
See slide 12.
1. Subsea production systems, subsea umbilicals, risers and flowlines over 80% complete. All subsea equipment has been delivered.
2. 10 of 14 producing wells complete.
3. 150mmboe of gross 2P
4. Gross peak production rate of 78k boepd
5. Most eye catching for me was the estimated production cost of ~$5 per barrel
https://varenergi.no/wp-content/uploads/2024/02/Var-Energi-Q4-and-FY-2023-results-presentation_.pdf
It's worth bearing in mind the increasing revenues predicted from LNG.
According to the firm’s LNG Outlook published today, demand will rise by 50 per cent by 2040 and global LNG trade will grow to around 625-685m tonnes per year, up from the 404m tonnes traded in 2023.
“China is likely to dominate LNG demand growth this decade as its industry seeks to cut carbon emissions by switching from coal to gas,” said Steve Hill, executive vice president for Shell Energy.
“With China’s coal-based steel sector accounting for more emissions than the total emissions of the UK, Germany and Turkey combined, gas has an essential role to play in tackling one of the world’s biggest sources of carbon emissions and local air pollution.”