Member Info for SeaTank8300

I don't know what the fuss is about. Plenty of drivers still coming through and declining risk with material diversification into growth markets; not to mention the stock is still inexpensive and still returning capital to shareholders. The management team have done an excellent job and want to diversify their exposure, but they still have plenty of skin in the game. I will remind you that the original founders of PLUS500 sold out in 2018 at around £10 - big oops.

SEPL will keep on grinding upwards as it remains deeply undervalued for what it is and I will tell you why. I pinch myself when looking at the EV/EBITDA multiple, which remains at its ten year average - i.e. there has been no re-rating at all despite SEPL being a totally different business to what it was four years ago. Since four years ago, it is now a much bigger business with the integration of SEPNU, with greater scope for long term growth (oil and gas), but also since four years ago 1. Governance structures are much improved and indeed have been tested hard, 2. Operational risk frameworks are much improved (ISO standards), 3. the Amukpe-Escravos Pipeline massively lowers risk in evacuation of their onshore production, 4. ANOH is up and running, 5. capital returns to shareholders are road-mapped and growing consistently, and 6. the government of Nigeria is at last properly behind growth of the industry. In all respects, this is a much much better as well as less risky investment proposition. The valuation being at its ten year average is absurd and can not endure. Institutional investors are taking time to understand this, as they are only now coming round to looking at SEPL, but as they do they will gradually get behind it. It will take time, but it is happening. The share price has a long way to reprice. The icing on the cake will be a return of oil to >$80 or $90, which in my view is likely as in relative terms it is very cheap now to all other commodities.

I said it the day the Heirs purchase was announced, the end game is likely to be a reverse acquisition of Seplat by Heirs, with scale synergies, operational enhancements, and share price rerate to result. Everyone wins. I suspect this will be sooner rather than later, because why wait?

With >20 year reserve life and considerable gas potential beyond that, no one should feel in a hurry to take profits here

Atlantic Lithium Limited (Atlantic) (ASX: A11, AIM: ALL, GSE: ALLGH) requests a trading halt in its securities,

effective immediately.

Pursuant to Listing Rule 17.1, Atlantic Lithium provides the following information:

• a trading halt is necessary pending Atlantic’s response to an ASX share price query, and to address

speculation in relation to the potential ratification of Atlantic’s Mining Lease and discussions

regarding a potential corporate transaction; and

• Atlantic requests that the trading halt commences immediately and continues until the earlier of the

release of an announcement by Atlantic and commencement of normal trading on 23 February

2026.

Https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-03058553-2A1654568&v

At 404p the share has an EV/EBTIDA multiple of 2.7x 2027 (EBITDA $1.7bn), which incorporates a relatively low POO. In my opinion this stock remains cheap, especially considering where the oil price is (little downside, plenty of upside, IMO). I'll be taking profits closer to 3.5x, which is quite some distance from today's share price, approximately +65% up from here based on the $1.7bn consensus EBITDA forecast. Citi's forecast is $1.5bn, which would imply 44% upside for a 3.5x multiple. In the meantime, we have regular banking of quarterly dividend payments. In short, IMO we're going to see a steady move towards a share price in the high 500s over the next few months.

Has anyone any decent intel on Piedmont's ability to fund/meet their obligations regarding development of the mine? I guess they will raise financing against their interest/output, or sell their stake to someone who can, but I'd be interested in any insights

To those tempted to sell into this strength, I remind you that SEPL's valuation multiple remains cheap, not to mention plenty of earnings growth drivers and dividend raises still ahead of us.

I'm shocked by the share price going vertical today. I do agree that the market appears to be valuing the company very differently all of a sudden, namely as a growth-positioned and diversified business rather than one facing existential threats, but the speed of the inflection has really surprised me. Institutions must be buying into PLUS in quantity now. I am happy about it of course, at long last.

It feels good being in such a steady ship as this when the weather blows a tornado all round

Now they are entering as a B2C platform in prediction markets - potentially very meaningful indeed

PLUS has indicated in the past its intention to list on Nasdaq. Only a matter of time.

Should be back above 20p with ratification given lithium prices where they are, which finger in the air must be a 80% chance of successful outcome within the next few weeks. Asymetric opportunity here.

Thank you for this commentary from The Oak Bloke, it is very good!

(Bloomberg) -- Plus500 shares rise as much as 3.8% to a record high as BofA Securities lifts its target price for the trading platform to 4,940p from 3,630p and reiterates its buy recommendation.

The company was named as the clearing partner for the CME and FanDuel’s event-based contracts platform, analyst Hal Potter writes

This represents a significantly overlooked growth angle for Plus500

Upgrades revenue growth estimates accordingly

Prediction Markets scenario points to ~10-60% FY28 earnings per share uplift

Financing issues now properly in the rear view mirror

Tin closed yesterday at $54,200 +2.94%

That was me

I'm still holding as well

Scaling of the US business alone should drive EPS at a healthy enough clip, with additional EPS enhancement from the share buybacks. Compound growth.

I still expect a move to NASDAQ, which should trigger further interest

Good morning everyone. I speculate that this will end in a merger proposal to combine the two businesses (Heirs & Seplat) with the purpose to extract synergies and create a national champion with superior scale that can support investment in high value gas export infrastructure, while giving Tony Elumelu an effective controlling stake and listing in London. The combined entity would be too big to ignore. A mandatory offer for minorities could be waived by shareholders if the merger proposal is on attractive enough terms for Seplat - it would be our choice to accept or not. This is the combination which could take Seplat though 500p. M&P left a lot on the table, presumably since they have near term acquisition opportunities which need the funding. I would have liked to have seen the M&P stake sold to institutional Investors but realistically that was never on the cards, but Heirs is a descent organisation and a combination would deliver greater scale still, which will open up additional opportunities.

Surprised this stock isn't being followed by a legion of AIM investors