Member Info for PanamaPete

Energean is over 80% gas which has doubled over the last year & has been over $3/MMBtu since January 2025, currently $4.2/MMBtu so I don't buy the oil theory.

I don't agree the deal price is the problem here. I hope ENOG walk away if that is the case.

I guess Carlyle have until close of business or midnight today but personally I see upsides to both outcomes so current SP is a buying opportunity for me. Must have hit an all time low today.

Still accumulating.

The only thing holding this back is the funding concern & I think an update is overdue on this. Leaving it to the last minute just causes market jitters. However I think a commercial loan will be the way forward & most companies carry debt anyway. As long as the debt is serviceable then there is no problem. Only got a small holding so this won't make me a millionaire but it won't bankrupt me either.

I can't see this going below 500p again but could see a 40p - 50p drop within weeks of it going ex-divdend. Seems to follow a pattern. Have been reducing my overweight position since 520p & finally sold my last tranche leaving just 40% of my original holding - just in case. Selling into strength, buying in to weakness. Never expect to buy at the bottom or sell at the top but with an average of 505p, I'm already 16% up. There's always the unexpected both positive & negative, i.e. a buyout or war declared across Europe. I wouldn't be buying at these levels but I'm not saying it won't go higher, just think it's run out of steam.

Still accumulating.

Would expect some Director buys to appear soon.

"Energean remains committed to closing the Transaction under the terms of the SPA and to maximising return for shareholders including via its ongoing dividend programme - with or without the disposal. Energean continues to focus on achieving its key business drivers: paying a reliable dividend, deleveraging, growth and our commitment to Net Zero".

GLA

Yet once the special had been declared on completion of the deal with Carlyle, the SP would have dropped 80p on ex-divdend date anyway. Seems the market wanted it both ways. A lot of stop losses triggered today I expect for no good reason except to make the MMs money & I look forward to my increased quarterly dividends as usual.

Typo 'mind'

Bearing in ming gas prices have doubled over the past year, I'm expecting decent results but of course the market can be and is irrational at times. I was always concerned about how the SP would react with the special dividend & would rather have seen that played out over a number of years but then the market is impatient. It is also possible the Carlyle deal will conclude at the last moment & who knows how the SP will react but personally I'm not bothered as long as revenue streams are growing & FCF is amply covered.

Added today. JG68, you are absolutely correct. On the initial announcement of the Carlyle deal there was a short spike. Then followed analysis that indicated a temporary reduction in revenues so the price fell & has been under the cosh since. I don't see this as bad news at all, but a buying opportunity.

GLA

One has to be careful how the EV numbers are interpreted. There is a feeling thats some EV sales are pre-registered so no actual end buyer but it looks good on the stats. However, PODP has added another string to its bow & that is the Energy Flex Market element. This will create additional revenue streams & has re-defined PODP as more than a mere EV charge point installer. Interesting times ahead but I feel PODP has reached a turning point & happy to buy & hold at these prices. If you don't understand how Energy Flex works then do DYOR & then come back & tell me what's not to like about it.

Tell me how many of those EV charger suppliers are in the Energy Flex Market with a tie-up to a major energy supplier & how many are branching into European Markets. Close to zilch I would say.

Exciting news to come this year for PODP.

The Energy Flex Market will bring in new revenues for PODP.

This is the game changer for me.

Seems the market doesn't like the new $750m Term Loan or the price is adjusting in preparation for the 85p special dividend. Can't be gas prices because they remain strong.

Will be topping up below 900p if it gets there.

I'd be concerned if they didn't.

Two non-exec directors going & not being replaced. Accumulating again at circa 10p-11p as I believe the Energy-Flex market is going to re-define PODP & expecting revenues to increase from this initiative.

Energean obviously thinks it's better to borrow $750m rather than cancel the special divi & only borrow $550m.

What do I know ?

GLA

Energean will release its 2024 full year results on 20 March 2025.

Should also get an update on the Carlyle transaction soon which is due completion during Q1 25.

151,715 UT at 1000p