Member Info for Pelle

Good morning

I am not sure about those numbers, looking at the 60 usd model.
FCF 569 million 2018 we didnt have.
Looks like they forgotten leasing cost, interest cost and Magnus vendor loan repayment?

But on otherhand I expect we will get more then 60 usd and have higher prod then 65k.
And have a lower capex in future.

So I would agree debt will be paid of in about 4 years.
14% return on bonds is crazy good, wish I had more money

Maybe someone can explain better their model better.

Hi Gkb, we in st anton Austria Its 2-3 meters snow in mountains and sunny and nice 👍

Hi E, What’s your take on realised oil price last 6 months? Seems very low in my eyes. I see everyone now would have agreed in putting hedges as much as possible at 80 through this year. If prices would got even higher just enjoy and hedge more. Sorry but I don’t get hedge strategy. If they just roll it without any market insight it would been better. Tomorrow we go skiing again after a rest day.

Hi E, Thanks for update, I will check and update my files when I come home. I need reduce FCF for the 25% Magnus part now taking a bit longer time then I thought.

Evening E, I am on skiing vacation so just read few posts here in last days quickly. Did you reduce your FCF forecast for this year slightly? What’s the reason if so

Hi L3, You need go to full year report 2017 and pick up the number and then deduct the 27 million.

Hi, It seems strange if there 33,9 million still to pay on 25% vendor loan. If I remember correct they pay of 27 million H1 and it was 39 left at 1 July. So then basically they didn’t pay any back on it during H2 then.

Hi L3 I doubt one asset did the 5k extra. Guess it’s spread over Magnus,Malaysia and others

Hi Profit, But EBITDA 2019 looks more like 900-1000 million. And Debt around 1500 million

Hello
Below comment.
Trend towards 2, is that not pessimistic? end year looks more like 1,5
Intend to operate between 1-2 ratio in future, means they will not reduce debt to zero?

Thoughts?

“We are committed to further reducing our debt, and expect our net debt to EBITDA ratio to trend towards 2x this year
and intend to operate within our 1-2x target in the future.

Hi Bignuggets

I live in south, Malmö.
You also swedish?

Well said big nuggets and Auson:-)

Good Hitman, Make sense to go that low on capex at least next year

Hi L3

ok, I see your post now. I have not yet looked at details of such things like Magnus vendor loan.

Production, was big suprice 4-5k better Jan/Feb then atleast I expected.
There been signs that Magnus,Alma and Malaysia picking up late last year.
But exactly where the extra 4-5k comes from I dont know.
67,7k is really good and there really impressive upside for rest of the year and next year

Hi Profit,

But 77 million hedges loss in H1 so only 16 million loss in H2.
So still cant work it out in my mind. Anyway its not so important.
Impressive results with those low oil price realised.

Yes, I agree this must be great investment over 1-3 years if oil stays normal

Thanks L3 and Auson, L3, with your critical view:-). Did you find anything bad?

Hello Anyone know why realised oil price only 61,2 usd and it was 59,5 in H1? I thought H2 prices would move the average a lot higher. Anyone heard about Kraken oil pricing?

Ok Darky:-)

Dark, it didn’t sound like that!

No, only 3 x year