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That's none sense, H2 2023 production from both PenMal and NWS was higher than expected and most 2024 capex is planned for H2. The company has a very small debt at the moment and, if necessary, it has the Working Capital Facility that is fullly undrawn.
That FPSO was offered to Chevron as a temporary solution while it fixes a FSO used at other field. That would delay the resumption of production from those licences,but allowing Jadestone to use an operational vessel without having to pay for the repairs. Also, Petronas has to approve the new business plan for the licences, which expire this year. I don't see a problem with Petronas allowing Jadestone to use the same infrastructure for all 3 licences, PM428, PM318 and PNLP. The development of every prospect that is confirmed through exploration would be quite fast and cheap.
Https://petrotalcorp.com/wp-content/uploads/2024/01/PetroTal-IR-Presenensation-v21-Final.pdf
You just said same thing I wrote, but you added your own cherrypicking . As I said: "The actual price of the commodity always reflects somehow", so claiming that hedges would save the company from the current $2-2.5/MMBtu is pure naivety.
Net of expenses? Options and swaps have a cost and DEC must sign new hedges to comply with the covenants. The actual price of the commodity always reflects somehow. There is no secret on long-term hedging, if it was so easy and lucrative everybody would do it
And my estimation was based on finishing winter with inventories in the US at ATH, which would cause a catastrophe for the HH and other references, bringing it below $2 in spring and autumn, above $2 during summer. Production is growing faster than LNG export capacity will in 2024, and not only Permian is getting more and more gassier, the Canadian producers are also producing more natural gas. Juts look at it by yourself: https://ir.eia.gov/ngs/ngs.html
Lukee: "comprised of an Asset Backed Securitization placed at the SPV". Placed at the SPV, not DEC, which only owns 20%, so it is not consolidated. DEC has just moved debt out of its perimeter and got $30m for the value left in the 80%.
It is what they said, they are moving away from the energy sector. When the deal is closed, they will have 6 months to wait for preparing the sales of their shares, I hope it is through a secondary placing. It will be easier to find buyers after the shares are listed.
I hope this is not one of Zephyr's non-op properties in Williston, it would make it a recurrent problem: https://www.kfyrtv.com/2023/12/23/oil-rig-explosion-near-williston-fire-still-burning/
Just saw the tweet doesn't include the link: https://zerogcos.substack.com/p/harbour-energy-acquires-wintershall
That same guy has released the full article, it is free and quite interesting: https://x.com/oilgastourist/status/1738517368291135727?s=20
The comparison in this chart shows that the company is still very cheap compared to other. Let's see if some institutional investors start buying here: https://x.com/oilgastourist/status/1738166923483881916?s=20
You give a lot of advice to end it with #NotAdvice
I do wish it goes to 250p, I don't think you totally understand how ridiculous the share price is right now
Just think: what could lift the share price in the next 12 months? If you cannot see any milestone that could push the share price up, why holding it? First oil is years away, so the only relevant news would be the granting of more licences. However, these licences come with a series of commitments that will require hundreds of thousands of pounds in their analysis.
After seeing Pilot's farm-out deal, I doubt that Steve and Alan will sign a PSA that is benefitial to shareholders, in the sense of a distribution of capital. They are the only winners with this deal; the company will pay all its debts and will keep the business going, while they work in these new licences and earn their C-level salaries. I wouldn't be surprised if they did another placing as early as H1 2025, once they have spent all the cash (TGS is another winner here).