🔥 IOX mot nye høyder🔥
Oslo, 26 May 2023
Santa Cruz Acquisition
…
Vis børsmeldingen
Interoil Exploration and Production ASA (the “Company” or “IOX”) is pleased to
announce the execution of a Purchase and Sale Agreement (the “PSA”) whereby
Interoil and the Argentine company Selva María Oil S.A. (“SMO”, and with
Interoil each a “Buyer” and together the “Buyers”) have agreed to acquire from
Echo Energy Plc (“Echo”) and its subsidiaries Eco Energy CDL OP Ltd. and Eco
Energy TA OP Ltd. (both such subsidiaries together with Echo, the “Sellers”) (i)
65% of the aggregate interest and assets in and to five exploitation concessions
located in the Province of Santa Cruz, Argentina, namely CA-1 “Campo Bremen”,
CA-4 “Moy Aike”, CA-6 “Chorrillos”, CA-10 “Palermo Aike” and CA-9 “Océano” (the
"Exploitation Concessions’), and the related joint venture (the “UTE”, as well
as (ii) a 95% interest in and to the transport concession (the “Transport
Concession”) owned by Echo on the Océano area (the “Transaction”, and the
interest and assets contemplated thereunder, the “Transferred Interests”).
The execution of the PSA represents a progress for the materialization of the
proposed acquisition of the Transferred Interests announced by the Company on
May 9(th), 2023.
Under the PSA, which follows substantially the Transaction details set out in
the initial Term Sheet executed by the parties and announced by the Company on
May 9, 2023, the Buyers have agreed to pay an aggregate consideration for the
purchase of the Transferred Interests comprising:
A fixed cash consideration of £825,000, payable by means of an upfront
payment of £75,000 upon execution of the PSA (which payment has already been
made), with the balance of £750,000 payable at Closing;
A payment in kind of £400,000 via transfer to Sellers of IOX shares at a
subscription price of 1.15 NOK per share, to be made at Closing;
A first contingent payment of up to £400,000, provided that accrual of such
contingent consideration shall not exceed a threshold of 10% of the net
profits over the production referenced below, after taxes and investments,
obtained by UTE as from the moment when both of the following conditions
occur: (x) production by the UTE must be in excess of 4,000 BOE/p/d during a
term of at least 60 consecutive days; and (y) any and all amounts invested
by Buyers in the Transaction have been repaid to Buyers, and aggregate
losses of the UTE have been balanced with profits; and provided further that
any accrual of contingent consideration (notwithstanding the amount of
contingent consideration accrued and whether any contingent consideration at
all has been accrued or not) shall be fully terminated upon the elapse of 5
years as from Closing;
A second contingent payment of up £100,000, provided that accrual of such
contingent consideration shall not exceed a threshold of 10% of the net
profits over the production referenced below, after taxes and investments,
obtained by the UTE as from the moment when both of the following conditions
occur: (x) production by the UTE must be in excess of 6,000 BOE/p/d during a
term of at least 60 consecutive days; and (y) any and all amounts invested
by Buyers in the Transaction have been repaid to Buyers, and aggregate
losses of the UTE have been balanced with profits; and provided further that
any accrual of contingent consideration (notwithstanding the amount of
contingent consideration accrued and whether any contingent consideration at
all has been accrued or not) shall be fully terminated upon the elapse of 5
years as from Closing;
Furthermore, the Buyers will enter into a Guarantee Assistance Agreement at
Closing to provide a guarantee to cover Echo’s remaining 5% interest in the
joint venture; and
Also, at Closing IOX shall enter into an option agreement with Echo granting
Echo an option to drill an exploratory well at Campo Nuevo (Maná) Colombia
during a term of 5 years as from Closing, and to recover twice the cost
through a 35% stake in the production, remaining after such recovery with
the right to 10% of production (the “Drilling Option”), as well as a
purchase option over Interoil’s Colombian assets exercisable if Echo had
exercised the Drilling Option, and after completion and testing the
exploratory well, at consideration amounting to the valuation made by a
recognized international investment bank appointed by the Buyers.
Additionally, at Closing Buyers (or their assignees) will subscribe Echo shares
for an aggregate amount £ 75,000, at a value of 0.065GBP per Echo share.
For a term of 6 month from Closing, Echo will also retain an option to
repurchase a 5% interest in the joint venture and related assets for a
consideration of £ 100,000.
Upon Closing, the proposed acquisition of the Transferred Interests shall
increase the participation of the Company in the Exploitation Concessions and
the UTE that prior to the Transaction amounts to 8.34%, and in addition shall
provide the Company with an interest in the Transport Concession.
In accordance with the PSA the final determination of the participating interest
to be eventually acquired from the Sellers by each Buyer shall be determined not
later than 3 Business Days prior to Closing. Closing Date is expected to occur
on June 26, 2023 provided that the conditions precedent to Closing are satisfied
or waived, including inter alia the approval of the transaction by an
Extraordinary Meeting of Shareholders of Echo.
In the event that Echo fails to obtained the required approval of its
shareholders, Buyers may terminate the PSA on that basis and the Sellers shall
be required to reimburse to Buyer within 2 business days the upfront payment of
£ 75,000 made together with the execution of the PSA plus an amount of £
60,000. If Sellers fail to make such payment timely, the transfer by Sellers to
Buyers of a 10% participating interest in the Exploitation Concessions, the UTE
and the Transport Concession and related rights shall be deemed completed.
New Gas Sales contract awarded to the Santa Cruz UTE
The UTE Santa Cruz has received Government approval to its filing before the
Argentine National Secretariat of Energy for an application under the Gas Plan
regime (Gas Plan 5.2) promoting gas production. Such approval awards to the UTE
a new gas sales contract for prices substantially above those payable under
current existing agreements.
The new conditional contract under Gas Plan 5.2 (Santa Cruz Sur Basin) shall be
entered into with ENARSA (Energía Argentina Sociedad Anónima) and is for
production volumes outside of those delivered under the existing gas contracts
with industrial clients.
The new contract is applicable across all the Santa Cruz concessions and shall
be in force from May 2023 to December 2028. The contract structure provides for
a base volume and an incremental volume with different prices. Thus, the base
volume of 1.06 MMscf/d (gross 100% JV) attracts a price of US$3.46 per MMBTU. In
turn, any incremental production volume delivered above the aforementioned base
volume, and above the existing gas contracts with industrial clients, would
achieve a gas price of US$9.975 per MMBTU until April 2026, a price of US$ 9.50
per MMBTU from May 2026 to December 2026 which reduces to US$ 5.90 per MMBTU for
the remaining period of the Gas Plan contract through December 2028. These
prices are materially above the existing average sales prices achieved by the
UTE.
Achieving these incremental production volumes requires an activity investment
of around US$ 5.3 million with an operational programme that includes
approximately 13 individual workovers/well interventions.
Please direct any further questions to: ir@interoil.no
Interoil Exploration and Production ASA is a Norwegian based exploration and
production company - listed on the Oslo Stock Exchange - with focus on Latin
America. The Company is operator of several production and exploration assets in
Colombia and Argentina. Interoil currently employs approximately 50 people and
is headquartered in Oslo.
This information is subject to the disclosure requirements pursuant to section
5 -12 of the Norwegian Securities Trading Act
https://newsweb.oslobors.no/message/591780
Santa Cruz Acquisition
…
Vis børsmeldingen
Interoil Exploration and Production ASA (the “Company” or “IOX”) is pleased to
announce the execution of a Purchase and Sale Agreement (the “PSA”) whereby
Interoil and the Argentine company Selva María Oil S.A. (“SMO”, and with
Interoil each a “Buyer” and together the “Buyers”) have agreed to acquire from
Echo Energy Plc (“Echo”) and its subsidiaries Eco Energy CDL OP Ltd. and Eco
Energy TA OP Ltd. (both such subsidiaries together with Echo, the “Sellers”) (i)
65% of the aggregate interest and assets in and to five exploitation concessions
located in the Province of Santa Cruz, Argentina, namely CA-1 “Campo Bremen”,
CA-4 “Moy Aike”, CA-6 “Chorrillos”, CA-10 “Palermo Aike” and CA-9 “Océano” (the
"Exploitation Concessions’), and the related joint venture (the “UTE”, as well
as (ii) a 95% interest in and to the transport concession (the “Transport
Concession”) owned by Echo on the Océano area (the “Transaction”, and the
interest and assets contemplated thereunder, the “Transferred Interests”).
The execution of the PSA represents a progress for the materialization of the
proposed acquisition of the Transferred Interests announced by the Company on
May 9(th), 2023.
Under the PSA, which follows substantially the Transaction details set out in
the initial Term Sheet executed by the parties and announced by the Company on
May 9, 2023, the Buyers have agreed to pay an aggregate consideration for the
purchase of the Transferred Interests comprising:
A fixed cash consideration of £825,000, payable by means of an upfront
payment of £75,000 upon execution of the PSA (which payment has already been
made), with the balance of £750,000 payable at Closing;
A payment in kind of £400,000 via transfer to Sellers of IOX shares at a
subscription price of 1.15 NOK per share, to be made at Closing;
A first contingent payment of up to £400,000, provided that accrual of such
contingent consideration shall not exceed a threshold of 10% of the net
profits over the production referenced below, after taxes and investments,
obtained by UTE as from the moment when both of the following conditions
occur: (x) production by the UTE must be in excess of 4,000 BOE/p/d during a
term of at least 60 consecutive days; and (y) any and all amounts invested
by Buyers in the Transaction have been repaid to Buyers, and aggregate
losses of the UTE have been balanced with profits; and provided further that
any accrual of contingent consideration (notwithstanding the amount of
contingent consideration accrued and whether any contingent consideration at
all has been accrued or not) shall be fully terminated upon the elapse of 5
years as from Closing;
A second contingent payment of up £100,000, provided that accrual of such
contingent consideration shall not exceed a threshold of 10% of the net
profits over the production referenced below, after taxes and investments,
obtained by the UTE as from the moment when both of the following conditions
occur: (x) production by the UTE must be in excess of 6,000 BOE/p/d during a
term of at least 60 consecutive days; and (y) any and all amounts invested
by Buyers in the Transaction have been repaid to Buyers, and aggregate
losses of the UTE have been balanced with profits; and provided further that
any accrual of contingent consideration (notwithstanding the amount of
contingent consideration accrued and whether any contingent consideration at
all has been accrued or not) shall be fully terminated upon the elapse of 5
years as from Closing;
Furthermore, the Buyers will enter into a Guarantee Assistance Agreement at
Closing to provide a guarantee to cover Echo’s remaining 5% interest in the
joint venture; and
Also, at Closing IOX shall enter into an option agreement with Echo granting
Echo an option to drill an exploratory well at Campo Nuevo (Maná) Colombia
during a term of 5 years as from Closing, and to recover twice the cost
through a 35% stake in the production, remaining after such recovery with
the right to 10% of production (the “Drilling Option”), as well as a
purchase option over Interoil’s Colombian assets exercisable if Echo had
exercised the Drilling Option, and after completion and testing the
exploratory well, at consideration amounting to the valuation made by a
recognized international investment bank appointed by the Buyers.
Additionally, at Closing Buyers (or their assignees) will subscribe Echo shares
for an aggregate amount £ 75,000, at a value of 0.065GBP per Echo share.
For a term of 6 month from Closing, Echo will also retain an option to
repurchase a 5% interest in the joint venture and related assets for a
consideration of £ 100,000.
Upon Closing, the proposed acquisition of the Transferred Interests shall
increase the participation of the Company in the Exploitation Concessions and
the UTE that prior to the Transaction amounts to 8.34%, and in addition shall
provide the Company with an interest in the Transport Concession.
In accordance with the PSA the final determination of the participating interest
to be eventually acquired from the Sellers by each Buyer shall be determined not
later than 3 Business Days prior to Closing. Closing Date is expected to occur
on June 26, 2023 provided that the conditions precedent to Closing are satisfied
or waived, including inter alia the approval of the transaction by an
Extraordinary Meeting of Shareholders of Echo.
In the event that Echo fails to obtained the required approval of its
shareholders, Buyers may terminate the PSA on that basis and the Sellers shall
be required to reimburse to Buyer within 2 business days the upfront payment of
£ 75,000 made together with the execution of the PSA plus an amount of £
60,000. If Sellers fail to make such payment timely, the transfer by Sellers to
Buyers of a 10% participating interest in the Exploitation Concessions, the UTE
and the Transport Concession and related rights shall be deemed completed.
New Gas Sales contract awarded to the Santa Cruz UTE
The UTE Santa Cruz has received Government approval to its filing before the
Argentine National Secretariat of Energy for an application under the Gas Plan
regime (Gas Plan 5.2) promoting gas production. Such approval awards to the UTE
a new gas sales contract for prices substantially above those payable under
current existing agreements.
The new conditional contract under Gas Plan 5.2 (Santa Cruz Sur Basin) shall be
entered into with ENARSA (Energía Argentina Sociedad Anónima) and is for
production volumes outside of those delivered under the existing gas contracts
with industrial clients.
The new contract is applicable across all the Santa Cruz concessions and shall
be in force from May 2023 to December 2028. The contract structure provides for
a base volume and an incremental volume with different prices. Thus, the base
volume of 1.06 MMscf/d (gross 100% JV) attracts a price of US$3.46 per MMBTU. In
turn, any incremental production volume delivered above the aforementioned base
volume, and above the existing gas contracts with industrial clients, would
achieve a gas price of US$9.975 per MMBTU until April 2026, a price of US$ 9.50
per MMBTU from May 2026 to December 2026 which reduces to US$ 5.90 per MMBTU for
the remaining period of the Gas Plan contract through December 2028. These
prices are materially above the existing average sales prices achieved by the
UTE.
Achieving these incremental production volumes requires an activity investment
of around US$ 5.3 million with an operational programme that includes
approximately 13 individual workovers/well interventions.
Please direct any further questions to: ir@interoil.no
Interoil Exploration and Production ASA is a Norwegian based exploration and
production company - listed on the Oslo Stock Exchange - with focus on Latin
America. The Company is operator of several production and exploration assets in
Colombia and Argentina. Interoil currently employs approximately 50 people and
is headquartered in Oslo.
This information is subject to the disclosure requirements pursuant to section
5 -12 of the Norwegian Securities Trading Act
https://newsweb.oslobors.no/message/591780
Fluefiskeren
27.02.2024 kl 22:31
2637
Nei. Det er veldig lenge siden. Var litt til og fra en stund. Det er vel den eneste aksje jeg har tradet noengang. Kunne ta noen voldsomme rykk for så å falle tilbake. Var litt heldig med det faktisk.
Poirot
27.02.2024 kl 22:36
2643
Takk for svar. Aksjen er lavt priset, men mye gjeld og det kan fort komme en emisjon. Stor risiko i IOX
Raknesi
28.02.2024 kl 13:25
2466
Blir spennende å se hvor mye gassen har betyd i økende penger i kassa
Mdg1
28.02.2024 kl 13:52
2433
Blir overrasket om gassen fra Argentina hjelper så mye på underskuddet. Vi får se på neste rapport, men gassen kommer fra mange små brønner spredt rundt omkring. Tror marginene er veldig lave og gjelden øker fortsatt. Q4 i morgen, så da får man fasit på om butikken fortsatt taper penger
helloween
28.02.2024 kl 15:40
2401
Ser den har vært nede i 28 øre i dag før spleis, den psykiske effekten på spleis er undervurdert
carthago
28.02.2024 kl 16:40
2396
Trodde vi skulle bli kvitt øretrillerne når spleis ble gjennomført, men nå manipuleres denne med 1 og 1 aksje med salg/bud på 1000-dels øre.
Det er jo verre enn da den lå på 40 øre og er helt komisk. Styres vel i hovedsak av roboter. Man senker kursen med selge 1 aksje ved å gå ned 0,0001 kr.
Har sett dette før, noen lar seg stresse til å selge, og når man har fått nok, så kommer hoppet slik at de kan selge med gevinst.
Skikkelig manipulering av en aksje ved hjelp av roboter.
Det er jo verre enn da den lå på 40 øre og er helt komisk. Styres vel i hovedsak av roboter. Man senker kursen med selge 1 aksje ved å gå ned 0,0001 kr.
Har sett dette før, noen lar seg stresse til å selge, og når man har fått nok, så kommer hoppet slik at de kan selge med gevinst.
Skikkelig manipulering av en aksje ved hjelp av roboter.
Akte
29.02.2024 kl 07:01
2254
Den går direkte under 1kr efter regnskabet
Måske de kommer med en emi på 50 øre men ingen købe dem
Måske de kommer med en emi på 50 øre men ingen købe dem
Mdg1
29.02.2024 kl 18:05
4908
Dundrende underskudd. Snart heelt tomt for cash og økende gjeld. Trenger å bruke 55 mill på å øke fassprod for å nyte godt av gassprisavtale. EMI like om hjørnet
helloween
29.02.2024 kl 18:11
4891
Tenker denne var viktigst å få avklart:
In November a new President was elected in Argentina. Mr. Milei has taken a
number of measures that impacted in the Company's business, including decrease
of existing gap between the official exchange rate and the actual exchange rate
between the Argentine peso and the US dollar and progressive deregulation of O&G
prices. Devaluation had a significant impact on cash calls denominated in local
currency.
I Q1 vil vi forhåpentligvis se en betydelig bedring i talla fra Argentina.
Forpliktet til å bore 10 brønner innen 2026, tipper det kommer inn en JV her
In November a new President was elected in Argentina. Mr. Milei has taken a
number of measures that impacted in the Company's business, including decrease
of existing gap between the official exchange rate and the actual exchange rate
between the Argentine peso and the US dollar and progressive deregulation of O&G
prices. Devaluation had a significant impact on cash calls denominated in local
currency.
I Q1 vil vi forhåpentligvis se en betydelig bedring i talla fra Argentina.
Forpliktet til å bore 10 brønner innen 2026, tipper det kommer inn en JV her
Mdg1
29.02.2024 kl 19:34
4824
Man kan vel si hva man vil, men å tape 100 mill et år der de fleste andre oljeselskaper soper inn penger er ikke annet enn katastrofe. Så da skal jeg holde kjeft frem til q1 og se om de klarer å begynne å svinge skuta
thief
01.03.2024 kl 07:37
4662
Var jo katastroferapport,som alltid,men denne var ekstra ille.Dundrende underskudd, på solide oljepriser.Hvordan skal de noengang gå i pluss?Gjelden vokser,store forpliktelser som man trenger penger til og kun 1musd tilgjengelig.Her må de jo hente inn mye penger,og hvem vil kaste flere penger på bålet?Det blir vanskelig.De forrige emisjonenene har vært en katastrofe,"ingen" interesse.Og hvor ble de pengene av?Nei,her sitter aksjonærene snart igjen med NULL,til og med Ransen(kapteinen)har rømt skuta!
helloween
01.03.2024 kl 09:09
4562
Poirot skrev Er du inne i aksjen igjen, Helloween?
Har et lite bet inne, men vurderer å øke. Tipper de får inn en jv i Argentina. Hadde også håpet de solgt hele Columbia prottisen til en ok penge, er jo bare klatt og utsettelser der.
Men har troa på Argentina
Men har troa på Argentina
Akte
01.03.2024 kl 18:49
4443
Det går godt i IOX
ATL igen idag
Sælg nu lortet kasser er TOM For 💰💰inden længe
ATL igen idag
Sælg nu lortet kasser er TOM For 💰💰inden længe
Fluefiskeren
19.03.2024 kl 13:13
3826
Slettet brukerskrev Akte er en av få med innsikt på denne tråden.
Det må vel være noe av det dummeste som er skrevet. Akte har i lang tid ekstremhauset denne aksjen før han plutselig snudde helt om. Tyder ikke på særlig innsikt.
thief
20.03.2024 kl 16:14
3722
qestador skrev Vi har noen sterke kjøpssignaler i olje.
Hvorfor mase hele tiden om den oljeprisen?Har jo "NULL" å si for iox nå, de produserer knapt noen ting!Det som har alt å si nå,er hvordan de skal hente kapital!Kassa er tom,gjelden stor og forpliktelser som må overholdes.Ingen god kombo!
carthago
20.03.2024 kl 16:27
3711
Vel, IOX andel økt med ca 90 tønner pr. dag fra januar til februar. Ca 2700 tønner pr.mnd med snitt pris ca $82 gir ca NOK 2,2 mill ekstra. penger det og.
Men velger man kun å se de negative sidene, selv om jeg ikke forstår at man bruker så mye tid på å følge en aksje bare for å kunne kose seg med misnøye.
Men velger man kun å se de negative sidene, selv om jeg ikke forstår at man bruker så mye tid på å følge en aksje bare for å kunne kose seg med misnøye.
Fluefiskeren
20.03.2024 kl 16:31
3831
Du bør nok ta en titt på tabellen en gang til. Deres samlede produksjon har falt. Dette sier de selv:
« Interoil's total daily average operated production in February declined by
around 271 boepd compared with January. The reduction is mainly coming from
fields in Argentina whereas Colombia increased its operated production.»
« Interoil's total daily average operated production in February declined by
around 271 boepd compared with January. The reduction is mainly coming from
fields in Argentina whereas Colombia increased its operated production.»
carthago
20.03.2024 kl 16:35
3829
Du refererer til olje og gass, jeg refererer til Olje, og IOX sin andel. så les engang til, men som sagt, du finner det negative hvis du vil
Redigert 20.03.2024 kl 16:37
Du må logge inn for å svare
carthago
20.03.2024 kl 16:52
3897
boepd inneholder olje og gass, jeg ser på bopd, som er kun olje, er det vanskelig å forstå ?
Fluefiskeren
20.03.2024 kl 20:13
3889
Hvorfor velger du å se bort fra gassproduksjonen? Veldig selektivt syn på selskapets produksjon. Skal man bedømme utviklingen må man selvsagt ta hensyn til både gass og olje. Det er vel innen gass de har noen eventuell potensial.
qestador
20.03.2024 kl 21:11
3852
Det står da 850 tønner pr dag i februar ren olje ??
850 * 85 $ = 68000 $! . Ca 680000 kr pr dag .
Hva er det som er feil her ?
Ja sper det andeler til hvem ?
850 * 85 $ = 68000 $! . Ca 680000 kr pr dag .
Hva er det som er feil her ?
Ja sper det andeler til hvem ?
Redigert 20.03.2024 kl 21:13
Du må logge inn for å svare
qestador
20.03.2024 kl 21:38
3861
Det sies her at ikke oljeprisen betyr noe. ?????? :-))
Det er 50 ansatte .
Det er 50 ansatte .
Akte
26.04.2024 kl 12:32
2966
Det giver bare mere fald
Kassen er TOM og de kan ikke betale deres lån inden længe.
Konkurs inden længe
Kassen er TOM og de kan ikke betale deres lån inden længe.
Konkurs inden længe
Leoløve
28.04.2024 kl 18:17
2964
Ja, og så kommer det vel en emisjonen etterhvert.
Mulig rundt kr. 1,-
Mulig rundt kr. 1,-