🔥 IOX mot nye høyder🔥

vikingfan
IOX 26.05.2023 kl 11:44 48241

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
helloween
26.05.2023 kl 12:25 17419

Veldig bra, blir spennende å se hva de får ut av dette👍
Audietron
26.05.2023 kl 12:26 17382

Ingen reaksjon i kursen
M. Binnion
26.05.2023 kl 12:29 17429

Enn så lenge virker det som noen har en klam hånd på kursutviklingen.....
vikingfan
26.05.2023 kl 12:46 17352

Volumet tar seg opp, men tydeligvis noen som trenger penger til pinse

Last opp og hold!

God pinse 🎉
kaunis
26.05.2023 kl 13:06 17277

Ikke lett å bli klok av denne avtalen, mye dårlig språk i teksten og dårlig helhet i hva er gevinsten i forhold til tidligere. ikke noe om forventet økt inntjening for IOX ????????????
klaesp
26.05.2023 kl 20:04 17107

Denne avtalen er spennende, hvor Iox og Selma oil øker sin andel I Argentina. Ser ut som den fallende produksjon kom "helt tilfeldig " ( i favør iox Selma oil)under forhandlingene med Echo.

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.

klaesp
26.05.2023 kl 20:20 17061

Alliance News) - Echo Energy PLC on Friday said it has signed a deal to sell 65% of the company's 70% working interest in Santa Cruz Sur for GBP1.7 million.

The Latin America-focused energy company said the assets are being sold to Selva Maria Oil SA and Interoil Exploration and Production ASA.

The sale is intended to provide near-term funding to cope with current challenges.

The acquisition consists of GBP825,000 cash consideration, with GBP75,000 due immediately, as well as contingent cash payments of up to GBP500,000 aggregate and GBP400,000 payment in kind via the issue of shares in Interoil and Production upon completion of the sale.

The firm said the shares offer it additional upside exposure to the Santa Crus Sur assets. Echo will also retain a 5% non-operated working interest in the assets.
YNWA250505
26.05.2023 kl 20:48 17036

Ja for Argentina er jo rette sted å drive business. Nå har de vel et rentenivå på nesten 100% og inflasjon som verden nesten ikke har sett maken til. IOX er noe forbanna dritt som ALDRI vil tjene nok penger til å forsvare selv en kurs på 50 øre.
Mdg1
26.05.2023 kl 21:41 17028

Jeg tror også det på sikt kan føre til økte inntekter til Iox, men aller først.vil det føre til at Iox må gjennomføre en emisjon på 50-100 mill. Det kan presse kursen voldsomt nedover i det korte bildet.
klaesp
26.05.2023 kl 21:49 17072

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 b
YNWA250505
26.05.2023 kl 22:54 17034

Dakar deg ble du krenket av ordbruk? IOX ledelsen er elendige og burde vært buret inne. At du ikke ser dette er ikke mitt problem og du bestemmer ikke hva eller hvor jeg skal skrive.
vikingfan
26.05.2023 kl 23:29 16985

Fortsett heller med de gode innleggene. Evt. Selg deg ut og finn en annen aksje å skrive om.

YNWA250505
07.03.2022
Blir det importforbud (som det arbeides med) som USA kommer til å iverksette og mange land vil nok f..
Eneste som kan stoppe IOX er meldinger om nye utsettelser. Når/om meldingen om boring begynner stiger kursen dramatisk, meldes det da om et godt funn er kr 5 helt klart innafor. Meldes det om tørr brønn raser kursen og gud forby. Det er deilig å se dagens kurs, men på sikt så er ikke dagens produksjon nok til å forsvare kursen. Det er rett og slett den forferdelige krigen som drar olje og gass oppover. Håper at krigen vil være over raskere en fryktet og så håper jeg IOX begynner å bore og finner millioner av fat med olje.
klaesp
27.05.2023 kl 09:54 16853

I tillegg venter jeg betydelig høyere produksjon i Argentina nå som Selma oil og iox så å si har overtatt SC feltet. Iox har nå betydelig høyere % andel I SC
Redigert 27.05.2023 kl 12:37 Du må logge inn for å svare
klaesp
27.05.2023 kl 11:14 16793

I kombinasjon med denne.

Denne avtalen er spennende, hvor Iox og Selma oil øker sin andel I Argentina. Ser ut som den fallende produksjon kom "helt tilfeldig " ( i favør iox Selma oil)under forhandlingene med Echo.

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.
YNWA250505
27.05.2023 kl 13:59 16689

Så du skal diktere hva andre skal skrive og hvor på dette forumet? Eier du ikke skam? Om IOX kommer skikkelig i gang med boringen i Colombia og finner olje skal kursen til himmels. Dessverre sitter vi med en evneveik ledelse som melker firmaet med høye lønninger uten å levere en dritt tilbake.
kaunis
27.05.2023 kl 14:22 16644

Hvor stor er gassproduksjonen på Santa Cruz con......? Da kan det bli litt overskudd i IOX som vil være et spark oppover for kursen? Hva gassprisen blir vet vi ikke enda?
klaesp
27.05.2023 kl 15:00 16601

Her er litt av avtalen. Videre ser jeg en produksjon opp mot 4000 fat på SC på litt sikt. Tidigere prospekt antydet en % andel I favør iox på ca 30% antar det blir noe høyere nå som Selma oil og iox har ervervet 65% av SC fra tidligere eier Echo. I tillegg kommer produksjon fra Colombia. Det blir garantert mange gode oppdateringer fra selskapet


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.
vikingfan
27.05.2023 kl 15:32 16566

Er det ledelsen som ikke vil bore i Colombia eller er det myndigheten som må få fingen ut?
God pinse🍻
Akte
28.05.2023 kl 16:23 16275

Inden længe starter opturen for alvor. Alle øretrillerne skal lige ha lavet et par kr inden opturen sætter igang 💰💰💰💰💰
klaesp
30.05.2023 kl 08:55 15913

Ny uke, nye muligheter.
Mdg1
30.05.2023 kl 09:20 15843

Nå kommer det i alle fall en emi. De har brukt opp resten av kontantene på å kjøpe ut Echo, og så har de fått seg et boreprogramm og vedlikeholdsprogram som krever kapital. De må garantert hente minst 50 mill for å kunne komme igang med arbeidet i Argentina. Blir spennende å se om det blir lettere å hente penger til dette enn til boreprgrammet de skulle ha i Colombia
klaesp
30.05.2023 kl 09:40 15771

Her finnes det flere løsninger får Selma oil og Iox. Ha en fin Pnor uke
kaunis
30.05.2023 kl 10:03 15723

Litt for BARNSLIG å avslutte med Pnor uke, forstår du ikke at dette er en IOX tråd?
Mdg1
30.05.2023 kl 10:13 15695

Sikkert noen som skal ut idag før Q1 rapporten. Er selv spent på hvor mye penger som renner ut av selskapet nå med lav produksjon og lav oljepris. Nå var vel snittprisen i Q1 ikke så ille, men uansett spennende
Redigert 30.05.2023 kl 10:14 Du må logge inn for å svare
helloween
30.05.2023 kl 16:36 15549

Når er q1?
vikingfan
30.05.2023 kl 16:51 15523

I dag. Kommer vel før åpning i morgen.
helloween
30.05.2023 kl 18:42 15418

Benefits of Transaction to Echo

This transaction fundamentally:

Addresses the Company's near-term funding challenges by providing near term funding, enabling the Company to walk away from the significant in-country creditors which had build up during the COVID-19 period and providing access to funding for the Santa Cruz assets.
Provides continued exposure (both directly through the retained 5%, the contingent payments, the further 5% option and the indirect holding in the Operator) to a well funded Santa Cruz portfolio, likely with a licence extension supported by the guarantee.
Provides the company a new platform from which to move forward with an option on a strong Columbian portfolio with its corresponding lower risk jurisdiction and a clean balance sheet whilst still receiving cash flow from its 5% position in the producing assets of Santa Cruz Sur.

helloween
30.05.2023 kl 18:49 15400

Martin Hull, Chief Executive Officer of Echo Energy, commented: ''This is a transformational moment for the Company as we look to put our recent challenges behind us and create a new, stronger and more financially robust platform from which to take the Company forward. Not only does it immediately improve our balance sheet, it also brings optionality with the Colombian opportunity, as well as giving us continuing revenues, with additional upside should the Buyers of the asset interest be able to deliver the investment and production growth that our financial limitations have prevented us from doing. I am excited about the future and the opportunities that lie before us and look forward to progressing the transaction in the coming weeks and updating shareholders on our progress.
helloween
30.05.2023 kl 18:55 15382

Virker som echo er fornøyd med å sitte igjen med 5% av asset I Argentina og at de har en mulighet for å komme seg inn I Colombia via iox sin asset. Kanskje tanken her er at echo blir partner på noen brønner i LLA-47 nå når de har fått cash. Vet vi hvor mye Selva María Oil og Petrominera SE betalte i cash for sin del? Går ut fra iox fikk en grei rabatt ved å gi echo smuler fra LLA-47

"Interoil will become the operator and hold an 80 percent working interest in these licenses in a joint venture with Selva Maria Oil SA and Petrominera SE, the state-owned company"
Redigert 30.05.2023 kl 19:07 Du må logge inn for å svare
helloween
30.05.2023 kl 19:29 15331

Eco also added that it plans to evaluate the prospect of acquiring a producing Colombian portfolio from the buyers of its Santa Cruz Sur assets. The company added that this would allow it to drill an exploratory well.

Ett alternativ er vel at Eco kjøper asset fra iox, slik at iox har funding(om det trengs da vi ikke vet hva JV vil stille med)til Argentina.

Tenker her kommer det mer
Redigert 30.05.2023 kl 19:33 Du må logge inn for å svare
vikingfan
31.05.2023 kl 23:21 14908

IOX opplyser at de etter kjøp har 1100 boe/d,

Dette bør med dagens oljepris gi omsetting på 300 millioner.

De oppgi videre økende produksjon mot 4000-6000 boe/d

Hvor de eier ca. 65%.

Strikken strammes.

Måtte det åpnes opp i Colombia også
klaesp
01.06.2023 kl 07:23 14754

De har sammen med Selma oil kjøpt 65% av SC , altså ikke alene
Mdg1
01.06.2023 kl 07:41 14714

Det er i stor grad gass som selges lokalt i Arghentina. Finnes ingen LNG fasiliteter. Om du vil vite hvor mye de får betalt for gassen er det vel bare å ta en titt på Echo sine kvartalsrapporter. Husk at gass bare lar seg eksportere om man har rørledninger eller kan fryse gassen ned til LNG. Prisen man får for gassen blir da stort sett forhandlet frem lokalt med de som kjøper den. Se for eks Wen der jeg har største beholdningen. De produserer nesten 6000 boed gass, men selskapet ble akkurat kjøpt opp og ressursene ble verdsatt til ca 300mill. det selv om de kan øke prod sammenmed etterspørsel
helloween
01.06.2023 kl 08:07 14638

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.

Kan jo hende de får bedre betalt fra mars."substantially above those payable under current existing agreements."
helloween
02.06.2023 kl 19:43 14235

https://www.enerdata.net/publications/daily-energy-news/petronas-and-ypf-sign-land-deal-25-mtyear-lng-terminal-argentina.html

02 MARCH 2023

The Malaysian oil and gas company Petronas and Argentina’s state-owned oil and gas company YPF have signed an initial land lease deal with the port of Bahia Blanca (Buenos Aires province) to develop an up to 25 Mt/year LNG export terminal. The first phase of the project includes a production of 5 Mt/year of LNG with an investment worth about US$10bn. The total project investment could reach US$50bn.

Da skal det bygges ut for LNG eksport
Redigert 02.06.2023 kl 19:46 Du må logge inn for å svare
klaesp
02.06.2023 kl 20:02 14210

Spennende funn, helloween
helloween
02.06.2023 kl 20:20 14187

Ja er nok en grunn for at iox går på i Argentina.
Skal ikke se bort fra at de selger en del av asset i Colombia.

Og når det nå skal åpnes for LNG vil det tiltrekke investorer

The formation, in Argentina's Patagonian south, is the size of Belgium. It holds the world's second-largest shale gas reserves and the fourth-largest shale oil deposits. It could become a key global supplier of gas as the world looks for alternatives to Russia, whose energy industry has been heavily sanctioned over its invasion of Ukraine.
Redigert 02.06.2023 kl 20:24 Du må logge inn for å svare
vikingfan
03.06.2023 kl 16:04 13732

Meget spennende! IOX mot nye høyder!!!