🔥 IOX mot nye høyder🔥

vikingfan
IOX 26.05.2023 kl 11:44 57556

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
Akte
29.04.2024 kl 11:51 4721

Under 2kr som forudsagt
Næste stop 1kr
Fluefiskeren
29.04.2024 kl 11:56 4712

Bare trist for slitne aksjonærer som har vært trofaste, men forhåpentligvis har de lært noe.
Mdg1
29.04.2024 kl 11:57 4712

Du trenger ikke å gni det inn. Jeg føler med Raknesi. Hadde jeg hatt mange aksjer i selskapet med stort tap ville jeg også ha sittet. Kanskje bringer fremtiden et regjeringsskifte der styresmaktene overkjører lokalbefolkningen og tillater oljeleting.
thief
29.04.2024 kl 11:58 4701

Glad jeg solgte på 67kr(gamle 6.7kr)😂Makan til talentløs ledelse.Er vel bare å vente på en kriseemisjon her IGJEN!
Mdg1
29.04.2024 kl 12:05 4669

Har du fortsatt Pnor? Ser ut til at oppturen der har begynt. Håper bare de ikke ødelegger det med å utsette utbytter på GF. Blir spennende å se når utkast til GF kommer neste uke
Akte
30.04.2024 kl 11:24 4504

Ned ned det går
Snart 1kr og ny emi
Akte
30.04.2024 kl 14:24 4437

Ny ATL 1.75
Og nedturen forsætter
Akte
30.04.2024 kl 14:25 4432

Køber gerne nogle men først i 10øre
Lotto hedder det 💰💰
M. Binnion
30.04.2024 kl 14:54 4401

Tragisk utviklingen som har vært, jeg sitter, og begynner straks å snitte. Her kan vendingen bli voldsom....
Akte
30.04.2024 kl 16:04 4350

Nedturen forsætter
Massiv overtal på sælgersiden
1kr ses SNART
murpy
02.05.2024 kl 14:11 4172

Interoil Exploration and Production ASA er plassert i Penalty Bench
Oslo Børs har tatt beslutningen om å plassere Interoil Exploration and Production ASA i straffebenken, jfr. pkt. 2.10.3 (1) i Oslo Regelbok II. Interoil Exploration and Production ASA plasseres i Penalty Bench med umiddelbar virkning på grunn av manglende overholdelse av Oslo Rule Book II pkt. 4.3.1 offentliggjøring av årsrapporten. Penalty Bench er en spesiell avdeling hvor verdipapirene til utstedere som ikke overholder reglene er plassert. Oslo Børs vil fjerne verdipapirer fra Straffebenken og tildele verdipapirene til vanlig avdeling når utsteder har rettet opp i bruddet på Reglene som var årsaken til tildeling av verdipapiret til Straffebenken.
Akte
03.05.2024 kl 11:21 4024

Tror alle mand har forladt kontoret med de sidste mønter som var på deres konto
Akte
03.05.2024 kl 12:22 3981

Nul handler idag
Ingen gider købe aktier i det svindlerfirma
Mdg1
06.05.2024 kl 14:04 3826

Skulle ha hørt på meg når jeg sa Pnor var billig. Tjent 100 000 bare på en uke nå. Fortsatt billig. Så venter jeg på at det løsner for Qec i quebec og den går femgangern på noen dager.
Mdg1
08.05.2024 kl 20:47 3660

Og nå har Pnor foreslått utbytte i 2024 på ca 7 ganger børsverdien til Iox.
__eagle__
09.05.2024 kl 17:11 3520

MAIN EVENTS SINCE YEAR-END
 By virtue of requests filed by Interoil Colombia to the Colombian hydrocarbons regulatory agency (ANH), the
terms applicable to Interoil’s exploratory drilling obligations in Llanos-47 have been postponed at least
through April 2025. In the case of Altair, the current exploratory period is suspended until the end of August
2024. Once suspension is terminated, Interoil Colombia would be granted an additional term extersion of
145 days, expected to be counted from August 31, 2024, onwards. In such event, the new deadline would
be postponed to January, 2025. While no assurance can be given, postponement should continue beyond
such dates as long as there are underlying reasons causing force majeure.
Mdg1
10.05.2024 kl 07:04 3383

Og fra årsrapporten så ser man at administrative kostnader har mer enn doblet seg. Gjelden økte med 3,5m$, liabilities økte voldsomt med kjøp av st cruz. Ved utgangen av 2024 kommer selskapet til å ha like mye i gjeld som før de refinansierte sist. Siden de ikke klarer å betale renter og dette føres tilbake som økt gjeld så øker gjelden fortere og fortere. Er vel ikke lenge før de selger hele operasjonen i Colombia for å overleve
M. Binnion
30.05.2024 kl 18:48 2920

Se der da: * EBITDA in the first three months of 2024 was USD 3.3 million, compared with
USD -0.5 million in the same period of 2023.
Raknesi
30.05.2024 kl 21:24 2815

Bra🚀
Nacobo
30.05.2024 kl 21:45 2759

Bra og bra. bedre enn det lå Ann vertfall. Net profit på 0,8xxm$ i samme periode har gjeld (usikker på hvor ofte rentene på hovedlånet blir betalt så enten med eller uten renter.) økt med 1,xxxm $. Blir litt som å øse ut av en synkende båt men øsa har blitt noe større enn den var EOY 2023.
Redigert 30.05.2024 kl 21:59 Du må logge inn for å svare
Raknesi
22.06.2024 kl 14:48 2248

Takk, går rette veien nå🚀💰
Mdg1
23.06.2024 kl 16:43 1963

EBIDTA margin tar jo bort 70% av utgiftene til Iox. For selskaper med høye finansutgifter er EBIDTA er veldig dårlig måltall. Ikke er det faste regler for hva utgifter man tar med eller ikke. Det betyr at bedrifter kan trikse veldig med det tallet. Gjelden økte fortere enn kontantpossisjonen i q1. Det viser at bedriften fortsatt ikke er lønnsom med Ebidta på 35 mill nok
Raknesi
23.06.2024 kl 17:30 1934

At ikke du får deg jobb i Analyse selskaper😅 Hold deg i Pnor 😅👎
aklm
24.06.2024 kl 11:09 1672

Stille i fjøset i dag. Det ser også ut til at det finnes kjøpere.
qestador
24.06.2024 kl 11:12 1653

Det friskner til her ser det ut for. Større tidligere emier på eksempel 35 kr er jo lette mål så langt om IOX får produksjonen i gang. Det virker slik .
Dåsemannen
24.06.2024 kl 11:46 1537

Hei,

Basert på dagens oppgang ble jeg nysgjerrig på denne.

Noen som kan gi en kort oppsummering av caset, og hvorfor IOX stiger så voldsomt?

Hva kan forventes fremover?

Mvh Dåse
Raknesi
24.06.2024 kl 14:18 1337

Sterk, før takeoff
Klabbeføre
24.06.2024 kl 14:22 1320

Selskap som opererer på kreditors regning, emisjoner og skaper null aksjonærverdier

Klassisk pump og dump aksje
Raknesi
24.06.2024 kl 14:27 1302

Latterlig melding fra deg
Audietron
25.06.2024 kl 09:26 1054

Merkelig handel. Kor blir det av månedsrapport for mai?
EmilJ
26.06.2024 kl 11:12 828

Må legge inn rom for å pumpe, dumpe og pumpe. Bare å selge på topp, og kjøpe på bunn. Skal vel snart opp.
Raknesi
28.06.2024 kl 15:11 534

Noen på møte idag?
Audietron
28.06.2024 kl 15:27 504

Er det møte idag?