Skjer jo mye spennende med Petrolia systemet om dagen selv om det går under radaren for de fleste. Jeg ser at Lime har kommet med en børsmelding i dag, angående Brasse feltet. Skal kobles med Brage feltet som blir en "host for production, processing and export. Vil tro det regner litt på PNO også for dette samarbeidet. Her er det bare å holde på det en har.

Så er spørsmålet hvordan skal selskapene PNOCO og PSE prises nå ? PNOCO har pr nå 2800boepd for Q12024 og dette vil dette utgjør tilsammen 924.000 fat i årsproduksjon over 330 dager og forventet inntekt for 2024 NOK 825 mill (gitt oljepris 85usd og nok 10,50 for usd/nok). Selskapet er gjeldsfritt 1. januar 2025, dvs om 9 mndr. De guider på boring av Løvmeis ila året og den forventes å få produksjon fra 2026 med rundt 2000 fat dagen ved suksess. Partner er Equinor. Jeg mener omgående aksjene PNOCO og PSE er doblingskandidater på dette stadiet ? Synspunkter der ute ? Noen som er gode på å regne cash flow og innta løftekostnad og skatter ? Nåverdiene her begynner å bli store og impliserer svært lav Pris/Bok forhold. Det må vøre hold å si at disse selskapene nå SPRUTER CASH :-)

Største problemet nå er vel at tilliten til BGL systemet er lik null i markedet.....

I dag kl. 07:12 ∙ Research Feed
Including Brage acquisition in our estimates
Løvmeis exploration well in Q3'24 - the next big event
Revised fair value range of NOK 1.2-3.3/sh

Including Brage acquisition in our estimates

Petrolia Noco reported H2'23 numbers relatively in line with our estimates. Both revenues of NOK 2.2m and EBITDAX of NOK -16.6m were in line with ABGSCe of NOK 4.0m and NOK -18m, respectively. The company exited H2'23 with a cash position of NOK 30m. The big event in H2'23 was the acquisition of 12.3% in the Brage licence from Vår Energi, which was funded by new loan facilities. The transaction will have a transformative impact on the company's production, adding ~2.2kboe/d in '24. In our view, the transaction is positive for Petrolia Noco, as it will allow the company to utilise the Norwegian Petroleum tax system in a more optimal way, and also give funding support for ongoing exploration activities until other projects in its portfolio reach first oil.

ABGSC Commissioned Research

En del opp siste tiden. Noe info som lekker ut?

PETROLIA SE (‘the Company’ or ‘the Group’) financial report for first half-year ended 30
June 2024:
Highlights
• Stable activity in the Energy Service Division resulted in an EBITDA for the first half of 2024 of USD 7.9 million
compared to USD 6.9 million during the same period in 2023.
• The Energy Division reported a profit from associated companies of USD 0.4 million for the first half of 2024
compared to a loss of USD 0.6 million in the same period in 2023.This reflects that the division now has
production and no longer only explores.
• Investment in associated company, Petrolia NOCO AS is carried at USD 0.4 million, in line with the equity
method, compared to a share of the market capitalisation of USD 10.0 million (www.notc.no). This treatment
is consistent with previous periods.
• Shareholders’ equity as at 30 June 2024 was USD 0.75 per share, compared to USD 0.68 per share as at 30 June
2023. Share price was NOK 5.0, or USD 0.47 at an exchange rate of NOK/USD of 0.0939 compared to a share
price of NOK 3.86, or USD 0.36 at an exchange rate of NOK/USD of 0.0928 as at 30 June 2023.
Key figures
All figures in USD (million) H1 2024 H1 2023
Operating revenue 25.8 29.1
EBITDA 7.9 6.9
Operating profit 4.4 3.5
Total comprehensive income for the period 3.1 1.3
Earnings per share in USD (cents) 6.22 1.86
Total equity per share in USD 0.75 0.68
Key variance analysis
Operating revenue: The Group’s operating revenue for H1 2024 was USD25.8 million compared to USD 29.1 million
in H1 2023. Operating revenue was reduced by 11.5% or USD 3.3 million compared to the corresponding half of 2023.
The reduction in operating revenue is mainly due to the reduced activity in Iraq following the closing of the pipeline
to Turkey in March 2023. This was partly offset with other locations achieving higher revenues.
EBITDA: EBITDA was at USD 7.9 million in H1 2024, compared to USD 6.9 million in H1 2023. The increase in EBITDA
is a consequence of the recovery of the oil & gas sector and the result of the Energy Service division.
Operating profit: The Group’s operating profit for H1 2024 was USD 4.4 million compared to USD 3.5 million in H1
2023. The increase in operating profit is a consequence of the recovery of the oil & gas sector and the result of the
Energy Service division.
Total Comprehensive income: Total comprehensive income was USD 3.1 million in H1 2024, compared to total
comprehensive income of USD 1.3 million in H1 2023. This variance was mainly due to the increased EBITDA, and the
result from associated companies.

Petrolia Noco Q2:
Revenues NOK :207,3
Net profit NOK : 6,3
Net production 2319 boe/ day

Hvorfor 10% i dag:
Bestla/ Brage fra 2027...26000 fat ekstra som også er viktig for Pnoco's 12,25 % andel i Brage
Petrolia Noco regnskap med 42 mill.NOK i seismikk tatt på q2 regnskap og allikevel net profit på 6,3 mill
Brage har blitt en pengemaskin for Petroliasystemet...og det kommer mere,
First Oil Dugong 2029,

I dag har vel også en del hengt seg på lasset på grunn av meldingen i dag tidlig. Løvmeis rett rundt hjørnet. Uansett spennende tider.