The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
We’re pleased to see Stifel increase its price target on Longboat following today’s announcement of its initial production acquisition, stating that: “Longboat's business has transformed in the space of just two months. Longboat now boasts … a cash-generative production base.”
What often gets missed in calculating total value
Kveikje (Longboat 10%):
Recoverable resources between 35 and 60 mmboe gross 1). Operated by Equinor in prolific area to the north of the giant Troll field with significant infrastructure.
· Oswig (Longboat 20%):
Recoverable resources between 10 and 42 mmboe gross, based on in-place volumes of 100 to 215 mmboe and condensate/gas ratio of 110-130 bbl/mmscf.
Well flowed approximately 2.1 mmscfd of gas and 280 bpd of condensate (approximately 650 boepd in aggregate) through a 10/64-inch choke.
Lotus (Longboat 30%) is located next to Kveikje a low risk prospect, which has the potential to add significant value. Well is planned for 2024.