Post by
capconstrained on Jul 26, 2024 10:34am
Great Entry Point
SEI held the $1.05 level very well yesterday on good volume. I should think a majority of the fast money crowd has left the stock over the last few weeks and SEI is set up well to make new highs over the next 6 months. FTR, I still believe SEI will receive value of USD$1.50+ for PEL83. However, the structure may not be 100% cash or a combination of stock/cash. If a cash poor player like PBR wins the bidding for Galp's 40% PEL 83 interest, there may be some retained ownership with better carry.
Comment by
MrMoMnyMgr1995 on Jul 26, 2024 8:35pm
On the money Cap... https://www.reuters.com/business/energy/brazils-petrobras-bids-become-operator-galps-mopane-oil-field-in-namibia-2024-07-26/
Comment by
barolo19 on Jul 26, 2024 9:08pm
Thx, not much of a valuation but the game is afoot!!!!
Comment by
capconstrained on Jul 27, 2024 6:13am
I've been told that PBR can easily redeploy existing FPSOs from its current operations to Namibia so that the development time of Mopane may be much faster with PBR as a partner. While the details of the offer have not been made public yet, there may be other considerations that will need to be evaluated in addition to the upfront cash/stock that PBR may contribute to Galp.
Comment by
ExplodeTheBank on Jul 27, 2024 12:51pm
I wouldn't accept there stock offer, if they have trouble growing / renewing their license. Slow government acceptance, stumbling PBR's feet, holding them away from making succesful exploration / growing the company..... I would take all cash from them, maybe stock offer, if the given company haven't got these issues like PBR experience within Brazil.....
Comment by
farrell90 on Jul 27, 2024 3:28pm
Another reason to not want PBR is their past history of fraud and scandals. Unfortunately I owned stock in PBR the company during this time. https://www.ft.com/content/686db098-c252-11e8-95b1-d36dfef1b89a
Comment by
barolo19 on Jul 27, 2024 6:21pm
Well said! where there is one shark circling others will follow!! glta