Member Info for welloilbeefooked

They’ve confirmed operatorship of the Greater Laggan Area this morning, that’s positive news for us and the Shetland Gas Plant going forward imo.

My last word on this until the facts are confirmed. Which company do people think PG is referring to when he uses the term “the Company” in the relevant RNS’s ? For example :

Predator Oil & Gas Holdings Plc

("Predator" or the "Company" and together with its subsidiaries "the Group"

· The Company has executed a Production and Field Services Management Agreement ("PAFSMA") with NABI Construction (Trinidad and Tobago) Limited ("NABI") to replicate the arrangements for the Bonasse Field to cover the Goudron, Inniss-Trinity and Icacos Fields.

 

In accordance with the PAFSMA, the Company will receive 30% of gross sales receipts at the sales point after deduction of royalties and taxes ("net PAFSMA revenues") from the existing production with no exposure to field operating costs and investment costs required to satisfy the minimum work obligations for the licences.

 

NABI will initially execute up to 13 heavy well workovers ("HWO") over the next 12 to 24 months with the objective of enhancing the current consolidated field production of 285 bopd by up to 40% ("incremental production"). NABI will also execute a drilling programme to satisfy the minimum licence obligations over the next two years.

 

For the incremental production and the new drilling, on any new well, or heavy worked over well the Company will receive 15% of gross sales receipts of those respective wells at the sales point after deduction of royalties and taxes gross until recovery by NABI of HWO and drilling costs on a well-by-well basis.

A company does not distribute revenue to shareholders, end of. It distributes dividends out of after tax profits or distributable reserves. Wiegl is a shareholder so not entitled to any revenue. If you don’t understand this you should not be investing - actually maybe you’re not!

How about yesterday? “WIEGL hold a legal right to 49% of the revenue“

But that shouldn’t matter according to you Gudin, a minority 49% shareholder should be getting a pro rata share of revenue whether the company is making aprofit or not

Just asKing for a friend. I’m a minority shareholder in PRD and bugger me but I don’t seem to be getting any revenue. Must be a mistake surely Gudin?

AA will have negotiated a fair outcome for both parties if circumstances change between effective date and finalisation date. He’s renowned for structuring deals with long finalisatin dates where both parties gain if circumstances change in favour of either buyer or seller.

There's also the excellent interview at Core Finance from December last year - if you listen in particular from minute 11 Andrew Austin says "and we've paid for this out of existting cash resources"

youtube.com/watch?reload=9&v=_w5cgTBWSv0

Thanks Keith, I believe I made the very same assertion a while back. I was waiting for the next financial update to confirm things before sticking my oar in again.

Good find OilMan, African deal incoming? The Oman deal was announced shortly after Kistos Energy Middle East was incorporated.

A big chunk of Kistos production is going to benefit from the spike in prices - Oman production may be affected short term but I cannot imagine the Middle Eastern rulers are going to allow Iran to call the shots for too long if at all.

Terrible times in the Middle East butevery cloud and all that.. I would imagine our energy storage trading numbers might have taken asharp spike?

Trading around 250p with an 83M share count, the market cap is £208M—hugely undervalued if you apply a standard 3x–4x EBITDA multiple to their 20,000+ boepd profile. And then there's gas storage and possibly something brewing in Iraq to filter in. And remeber the Oman deal is effective 1/1/2025 so there's a load of cash due in there as well. GLA

The very same Mirasol, he backed the wrong horse, he over leveraged massively and he lost a fortune for all concerned including himself. I think he learned his lesson well but time will tell.

I don’t think the market has a clue about what’s happening with Kistos. Andrew Austin is creating a multibagger again, just like Rockrose. The clue is in the name, it’s all Greek to most folk! Kist is my biggest holding by far. People talk about risk, he’s derisking with every deal - now in Oman, Norway,North Sea, Netherlands, bought into UK gas storage and a couple of weeks ago popped up with the oil and electricity minister for Iraq.

DYOR and GLA

Interesting that Iraq’s Oil Minister Hayan Abdul-Ghani who is also the Deputy PM has now been made Acting Minister of Electricity. Peter and Andrew are certainly being photographed with the right level of person! And nearly all the electricity problems in Iraq are caused by the associated gas problem from oil production. Makes you think.

I might be having a wild guess here but I don't think Andrew and Peter are in Iraq to talk about oil. Iraq imports around $4 -$5bn of gas from Iran each year. At the same time they burn off through flaring around $2bn of gas from associated oil production purely because there is little to no infrastructure to capture it. Add in the promise to be a zero flare country by 2028 and you can see the dilemma for Iraq and the massive opportunity for Kistos - a small, agile and experienced team with a great track record already of successfull carbon reducing transitional projects and who will be very interested in the small to medium sized opportunities the big guys like Shell etc don't want to bother with. 

AIMHO of course. 

GLA

Share price is on the move..

Good find gavsear, our two top guys are there, surely another deal brewing…

Thanks David, I also found this article on Andrew Austin from a couple of years ago interesting, apologies if it’s been posted before:

https://iggyoninvesting.substack.com/p/andrew-austin-the-next-outsider/comments