IntelliAM aiming for significant growth with £5 million Aquis IPO. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Cash until end of Q1 2025 so no fund raise imminent. We’ve got new acreage in shallow waters off Malaysia, a CPR by the end of this month for Kertang and the start of a farm out process in H2 2024.
And no cost overhangs associated with Norway. With a new strategic direction, it seems to me this is a great resolution to a bad period of time.
Perhaps a name change too - we are no longer wikings!!!!!!!!
...but there will be some who invest in producing or near-erm producing O&G assets who won't be best pleased.
It’s been clear for a month that Norway would be divested, it was just a question of terms. Now it’s a simple question of value for Fridays £4m mkt cap.
Big rns. However giving the lack of meaningful progress in Norway this feels like a positive. The uncertainty and short term funding concerns are gone. Draw a line under Norway cleanly and move on. The board has clearly been divided and Malaysia has won. Feels to me like there is now a coherent plan in place given recent director changes. The key to unlocking value is the farm in process : reading between lines there seems to have been good progress on that front and they seem confident.
Wow guys, big news. Name change to Topaz Energy soon?
On the one hand it feels like ... what a waste of time the last four years adventure in Norway have been. On the other hand, everything Helge ever touched in Norway just seem to drive the share price further down. There seemed to be no investor appetite for the Norwegian adventure, no matter how much Helge talked it up. Now we know why.
So will this decisive move signal a change in general investor sentiment? It should do. And for all the reasons that have been talked about here by others.
Should we have got more for our Norwegian assets? Probably. But everything they owned in Norway required serious funds to progress.
Name change soon to Topaz Energy anyone?
Personally not happy with the price nor fully selling up. But the provisional DRO is very very interesting.
Fully selling up on Norway that is. Not me!
At this stage we’re basically a close of UPL with a better asset and by the sounds of it, some already discovered fields on the way.
Roll on CPR
This seemed to be our only option what a disaster Norway has been (olde Helge with his sound knowledge and expertise in the area eh!). It needed to be done so I'm glad its been done swiftly.
Can this be the last fundamental strategic change please!
My key worry is the following, 'These savings, together with the cash proceeds from the LJN sale, are forecast to provide sufficient capital through to the end of Q1-25'.
Q1-25 will come before we know it and potential partners will know this. Pressure is on.
Fingers crossed. Onwards and upwards, clean slate.
Still ludicrously undervalued since their existing current cash will be around 1,5M£ to 2M£.
Add on the 2;5m$ from the deal and you get cash per share of 6;5p.
Or an enterprise value at current prices of 1,5M£
"At this stage we’re basically a close of UPL with a better asset and by the sounds of it, some already discovered fields on the way. "
UPL x6 LBE ?
UPL does not even have CPR if i am not mistaken
If the field is as big as LBE say it is then this is priced completely wrong
Yeah 6x Mcap of LBE.
Not wanting to create a competition or talk down UPL in anyway. It’s just that they are basically the same type of company now.
Differences are:
-Kertang is a monstrous field in deeper water - 9TCF in Kertang and many more fields of similar magnitude have been mapped on 4D.
-discovered oil/gas field being given to LBE… sounds like it’s been agreed with some admin to iron out.
-CPR to confirm volume as the final bargaining chip for the international company wanting to farm in (sounds like shell or total but not sure)
-James Menzies is chairman. This man is so charismatic it’s untrue
Just need to fabricate a buyer :)
It'll just be our luck that the lotus drill in H2 this year will come in as a rate stonking result. 😱
Lol Ash! Now, cheer up mate, time to leave your half empty glass in Norway and reread what Oiltdr just wrote about the DRO award...
Remains to be seen Whirlaw but I'll fill my glass up :)
Get the feeling CPR numbers will blow the socks of this. Very under the radar currently.