The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Very true Maverick7,
David also referred to Kistos as a 'Gas' company.
Not true. Current split is roughly 60% gas 40% oil.
Kistos are operators in Norway, The Netherlands and the UK. Gaining this status in Norway is particularly onerous.
Serica definitely feel threatened by AA, to the detriment of us as investors.
aimo
I heard Martin state that the TW tax losses available to us were £470m on acquisition, of which £395m are still available to us. He said to expect a lot more to be utilised in the following year.
Good news.
aimo dyor
NKOTB,
Over £200m of that is owed in debt.
I should have been clearer, net cash in excess of £100m is where I would like us to be.
I agree with your sentiment regarding Mercuria's influence NKOTB.
Due to EPL we are simply not generating enough profit to justify a 23p dividend.
A more sensible split of the £103m profit would have been £40m divi, £20m buyback, £43m retained as cash.
Cash in excess of £100m would give us adequate breathing space to consider an acquisition from cash only.
aimo
£103m profit after tax was what I was expecting, give or take. £92m of that will go in dividends and another £15m on the share buyback will eat the lot, and a nibble of our cash.
aimo
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.