🔥 IOX mot nye høyder🔥

vikingfan
IOX 26.05.2023 kl 11:44 57656

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
29.02.2024 kl 16:45 4686

Skulle ikke Q rapporten komme i dag?
Ransen
29.02.2024 kl 16:52 4673

Kommer nok i kveld
Mdg1
29.02.2024 kl 18:05 4592

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 4575

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
Akte
29.02.2024 kl 18:49 4514

Dykker massivt fredag
Raknesi
29.02.2024 kl 19:01 4556

Har jo fått store verdier i Argentina... Skal 🚀
Akte
29.02.2024 kl 19:05 4565

Raketten styrter ned
Kassen er snart TOM
Mdg1
29.02.2024 kl 19:34 4508

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
Akte
01.03.2024 kl 06:39 4311

Stor nedtur idag
Akte
01.03.2024 kl 07:13 4333

Når den rammer få øre køber jeg lidt lotto aktier 💰
thief
01.03.2024 kl 07:37 4346

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 4246

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
Akte
01.03.2024 kl 18:49 4127

Det går godt i IOX
ATL igen idag
Sælg nu lortet kasser er TOM For 💰💰inden længe
Sjoa
17.03.2024 kl 18:45 3663

Akte er en av få med innsikt på denne tråden.
qestador
19.03.2024 kl 11:59 3507

Vi har noen sterke kjøpssignaler i olje.
Fluefiskeren
19.03.2024 kl 13:13 3510

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.
Akte
20.03.2024 kl 15:57 3407

Konge rapport der kom idag 😭😭
Fald i produktionen igen 😭😭
thief
20.03.2024 kl 16:14 3406

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 3395

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.
Fluefiskeren
20.03.2024 kl 16:31 3515

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.»
carthago
20.03.2024 kl 16:35 3513

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
Fluefiskeren
20.03.2024 kl 16:46 3581

Du må jo se på boepd. Altså fat oljeekvivalenter.
carthago
20.03.2024 kl 16:52 3581

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 3573

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 3533

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 ?
Redigert 20.03.2024 kl 21:13 Du må logge inn for å svare
qestador
20.03.2024 kl 21:38 3542

Det sies her at ikke oljeprisen betyr noe. ?????? :-))
Det er 50 ansatte .
Raknesi
26.04.2024 kl 11:36 2699

Årsrapport til tirsdag 🚀
Akte
26.04.2024 kl 12:32 2647

Det giver bare mere fald
Kassen er TOM og de kan ikke betale deres lån inden længe.
Konkurs inden længe
Raknesi
26.04.2024 kl 12:37 2639

Lille drenge
Akte
26.04.2024 kl 12:52 2621

Raknesi kom nu ud inden du taber ALT
Raknesi
26.04.2024 kl 14:45 2684

Topp 20 Shareholders uforandret💰💰
Akte
26.04.2024 kl 15:32 2730

Raknesi fortæl hvad som skal drive kursen op
Akte
28.04.2024 kl 18:07 2650

Tror den går under 2kr i næste uge
Leoløve
28.04.2024 kl 18:17 2645

Ja, og så kommer det vel en emisjonen etterhvert.
Mulig rundt kr. 1,-
Akte
28.04.2024 kl 19:28 2733

Jep emi på 1kr og ned på 50 øre når de ikke får udsolgt
Raknesi
28.04.2024 kl 21:42 2653

Stakkars👎👎👎
Akte
29.04.2024 kl 09:40 2509

Raknesi så blev det 2kr
Akte
29.04.2024 kl 10:17 2463

Raknesi fortæl lige hvad som skal drive kursen op