Member Info for schlemiel

Excerpt -

'Despite the significant mergers already completed, industry executives anticipate more consolidation ahead. “The horse is out of the barn on M&A, and we expect the arms race for scale to continue,” said Mark Viviano, portfolio manager at private equity group Kimmeridge.

Amidst the flurry of dealmaking in the US oil and gas sector, one standout is the Beetaloo Basin. Situated in the central-northern region of the Northern Territory, this geological wonder boasts globally significant shale gas reserves that could have transformative effects on Australia’s energy market.

Covering approximately 28,000 square kilometres, the Beetaloo Sub-basin is estimated to hold a staggering 500 trillion cubic feet of gas, primarily within the Velkerri B layer. Such reserves have the potential to revolutionize domestic supply security, drive advanced manufacturing, and enable cleaner energy production.

Remarkably, this abundance of gas resources far surpasses current domestic consumption levels, underscoring its capacity to significantly reshape Australia’s energy landscape.

At present, three key players listed on the ASX are actively involved in developing the Beetaloo Basin: Empire Energy (ASX:EEG), Tamboran Resources (ASX:TBN), and Santos (ASX:STO), each spearheading efforts to tap into this immense resource potential.

Standing prominently in this space is Bryan Sheffield, a notable figure in the US oil and gas industry. As a third-generation oil and gas executive hailing from Texas and the son of Pioneer CEO Scott Sheffield, he brings a wealth of experience and investment acumen to the table. Sheffield has already made substantial contributions to the Australian gas industry, having invested over $100 million into the Beetaloo Sub-basin. This area is poised to emerge as a significant player in the global gas sector.

As of May 28, 2024, Sheffield owns 8.5% of Empire Energy. Additionally, Sheffield owns roughly 13% of issued shares in Tamboran Resources (according to the 2023 Annual Report).'

https://smsfinance.com.au/consolidation-wave-reshapes-us-oil-and-gas-sector/

'The Financial Conduct Authority has unfrozen Petrofac (PFC) shares after the embattled energy services and engineering company published its 2023 results last week. The shares had been suspended because the results came more than four months after the end of the financial year.

The shares climbed 30 per cent after trading restarted, to 13.7p. Petrofac is negotiating for survival as it has missed months of bond payments to lenders. A survival package is in the works but both lenders and clients will need to back the deal, which will wipe out retail holders.'

https://www.investorschronicle.co.uk/news/2024/06/04/companies-roundup-petrofac-vistry-blackstone/

In any case, how big will any copper supply gap be? Greening and especially transport was to be the great white hope. But Lithium is still bumping along the bottom, despite pundits’ hopes it would have started a recovery by now. It’s obvious that electric vehicle uptake, at least in the West, isn’t meeting expectations, and that will impact copper demand.

Even so, as one of the largest undeveloped copper (and almost as much gold) resources still out of the hands of the majors, the spotlight must still be on Solgold’s Cascabel project where I said something has to give, so the shares are up from 6p to 9.5p in three months. But they look stuck now as the interest the company says is being shown in acquiring or financing Cascabel grinds on. While the original block on the project – too high a capital cost and a shorter economic life than the 30 years the majors expect for a ‘tier one’ mine – has been partly remedied with a revised plan, there are still worries about the Ecuador central and local Government’s commitment to it. They would be foolish to turn down the economic benefits.

https://masterinvestor.co.uk/commodities/signs-of-life-or-another-mirage/?mc_cid=9498bf2275

Https://masterinvestor.co.uk/commodities/signs-of-life-or-another-mirage/?mc_cid=9498bf2275

But what about that old elephant in the room, Greatland Gold (GGP) (with almost as much copper as gold, at its part-owned Western Australia Havieron project, whose shares are still becalmed except for the odd spasm. The reason is not discussed on the only source of ‘opinion’ (you can’t call it ‘research’) for retail investors – namely the chat board run by its public relations firm in disguise – which dissuades any discussion of the major question – how GGP will fund any attempt to ‘buy’ from Newmont the 70% of Havieron it doesn’t own – and then how to fund the mine itself. While its economics looked very compelling, observers are waiting for a new feasibility study which will update the considerable changes since the last one, where major cost rises and an expanded mining plan renders it impossible to guess what it will show.

That is not the only reason for standing well back from the shares. De Grey Mining’s similar sized Hemi project three hundred miles away has just had to raise over A$600m (despite an already healthy balance sheet) as a 40% contribution to Hemi’s capex before lenders will lend the rest, and GGP’s balance sheet is far more flimsy than De Grey’s. No matter how ‘attractive’ a project might look, lenders always want a substantial risk equity component to any funding structure and GGP has practically none at present. If equity partners come in instead, they will cause the same dilution for current shareholders by a different route. Substantial dilution for them seems inevitable.

As for UK broker share price forecasts, Cannacord and Berenberg differ widely, (the highest, 20p, labelled ‘speculative’) – too right cobber ! Both use the illogical and financially illiterate ‘target’ price methodology based on NPV’s – ie the discounted present value of all future cash inflows – as if a sensible investor would pay upfront for them. Its why they are never remotely reached in practice, but they help a company’ s broker flog the shares. Remember the notorious Sirius Minerals failed attempt to raise development funding where the broker totted up future income 55 years ahead and pretended that should be the raise price. The institutions laughed him out of sight, and Sirius out of existence.

Where's the cash coming from to redeem this debt?

MM will have no choice but reform the company

When the feck are they gonna get this deal sorted? Talk about waiting for that Godot bloke

Silly games from Moulding. Grow the feck up MM and focus on sorting out THG

Has the company been saved?

D4E?

EnQuest adding more wells at two North Sea fields

June 3, 2024

EnQuest expects to resume drilling at the Magnus Field in the UK’s East Shetland Basin, following a five-yearly rig recertification at the platform.

LONDON — EnQuest expects to resume drilling at the Magnus Field in the UK’s East Shetland Basin, following a five-yearly rig recertification at the platform.

The company is aiming to drill two sidetrack wells and various scale squeeze before the end of the year.

Drilling should also restart next year at the nearby heavy-oil Kraken Field, which recently produced its 70 millionth barrel of oil. The co-venturers have sanctioned ordering of long lead items for two sidetracks.

At the CNOOC-operated Golden Eagle Field, the third of four new wells is being completed for production, EnQuest said. The final planned well, a water injector, should be completed in mid-2024.

Construction has started at the company’s Sullom Voe Terminal on Shetland of a new oil stabilization facility. This is designed to support continued production from fields in the East Shetland Basin, reduce power demand at the terminal and associated emissions, and lower operating costs.

The existing stabilization facility will then be made ready for decommissioning in early 2025. The new facilities will also enable SVT to be connected to the UK electrical power grid, and the associated retirement of the Sullom Voe power station.

By the end of April, EnQuest had plugged and abandoned (P&A) six wells at the Thistle Field and four at Heather, both in the UK northern North Sea, against an annual target of 25 wells. According to North Sea Transition Authority review data, the company added, the probabilistic average cost per well for P&A of about £2.5 million (US$3.18 million) is 42% lower than the industry benchmark of about £4.3 million (US$5.47 million).

06.03.2024

https://www.offshore-mag.com/drilling-completion/article/55055677/enquest-adding-more-wells-at-two-north-sea-fields

When will ENQ be debt free? Is the company repaying debt at the tune of £30m per month or is this tosh? If true then surely the company will be zero debt by this time next year?

I wonder if THG do announce corporate changes at the AGM?

If this price breaks then it's whoosh

5.9m at 7.80p

Posted 20d ago

https://www.seek.com.au/job/75689432?ref=search-standalone&type=standout&origin=jobTitle#sol=7875ded761404aa03db9984a2c3600631adf09c3

Work on an Innovative "Australia First" Super-Spec Rig:

Upon deployment, the rig is poised to become the nation's most potent onshore drilling platform, capable of drilling over 4,000-meter horizontal sections within the Mid-Velkerri "B Shale."

This advancement is anticipated to significantly reduce the cost per unit of recoverable gas and minimise environmental impact.

The Campaign Highlights:

Multiple positions are available for immediate recruitment, including Leasehands/Roustabouts, Floorhands, Motorhands, Rig Welders, and Rig Electricians.

2nd campaign in Australia after breaking drilling records with their first campaign in the Beetaloo basin

Enjoy industry-leading remuneration packages.

This campaign could see you first in line to secure a long-term drilling contract.

Benefit from balanced 3/3 rosters.

Operate in the Beetaloo Basin, Northern Territory.

FIFO options are available with comprehensive support for transport, meals, and accommodation.

Gain invaluable experience working alongside a top-tier international crew.

Rig-ready tickets and qualification training.

In 2021 Moulding did publicly indicate he intended to carve off and seek a separate listing of THG Beauty (reneged upon since then) but it does indicate his feelings on this point. I wonder if the debt repayment issue is crimping his intentions regarding corporate restructuring?

I wonder how THG debt is treated (accounting terms and liability terms) if all three segments of the business are carved off and listed separately? Could they pile THG debt onto two listings and leave Beauty with a clean balance sheet?

Would Boots accept THG Beauty products as well?

I wonder if the decision to stock MP in Boots was taken in the UK or in the US?

Stephen Chapman

May 23, 2024

Online sports nutrition brand, Myprotein, is to be available in 1200 Boots stores, its biggest in-store launch with a single retailer to date.

Nearly 80 products will be available at the high street retailer and it comes as owner, THG Nutrition, seeks to increase offline sales of the product to 25% over the medium term.

“We’re incredibly proud of the journey we have been on over the past 12 months, and how Myprotein is continuing to evolve,” said Neil Mistry, CEO of THG Nutrition.

“This year marks Myprotein’s 20th anniversary, so it’s fitting that we’re achieving another significant milestone on our journey to becoming the world’s most empowering health movement. Boots is a trusted retailer amongst UK consumers, so this launch is a great opportunity to diversify the range of health and wellness products available to customers in-store. This expansion also allows us to diversify our own customer base, as we work to educate consumers on the benefits of protein, no matter your exercise levels,” Mistry added.

THG Nutrition is part of the North West-based listed company, THG plc, which also includes THG Beauty and THG Ingenuity.

https://www.prolificnorth.co.uk/news/biggest-in-store-launch-to-date-for-myprotein/

10p gone

I wonder what the reasons are for Barclays to increase its target price for THG? It must be see some trigger for that improvement in its target price