Godaften
Det er desværre ikke meget jeg når at skrive på denne side, men den læses hver dag, og det med stor fornøjelse.
Jeg er en af de mange som har haft glæder OG sorger med nec. Og efterhånden er jeg rimmeligt rundtosset. Men har dog stadig en tro på casen.
Har netop fundet følgende artikel på tanten, er der ikke nogle hardcore oliedrenge, som gider at kommentere på vedhæftede.
http://www.business.dk/energi-miljoe/stoerste-oliefund-i-24-aar
Tror dælme at myggen har ramt nogenlunde rigtigt.
Nyd din sidste friaften inden den nye uge melder sin grufulde ankomst.
Nic.
Det er desværre ikke meget jeg når at skrive på denne side, men den læses hver dag, og det med stor fornøjelse.
Jeg er en af de mange som har haft glæder OG sorger med nec. Og efterhånden er jeg rimmeligt rundtosset. Men har dog stadig en tro på casen.
Har netop fundet følgende artikel på tanten, er der ikke nogle hardcore oliedrenge, som gider at kommentere på vedhæftede.
http://www.business.dk/energi-miljoe/stoerste-oliefund-i-24-aar
Tror dælme at myggen har ramt nogenlunde rigtigt.
Nyd din sidste friaften inden den nye uge melder sin grufulde ankomst.
Nic.
1/11 2010 12:43 Hegu 0
35523 Nicsti...NECs aktiviteter i Brasilien er udskilt i et selvstændigt selskab, som hedder Panoro Energy (PEN).
Med venlig hilsen
Hegu
Med venlig hilsen
Hegu Finansieringen er på plads, der er rekordproduktion på Manati - alligevel er reaktionen på kursen begrænset. ØV.
Oslo Stock Exchange
2010-11-01 08:30:13
PEN: Panoro completes successful USD 140 million bond issue
Panoro completes successful USD 140 million bond issue
Panoro Energy ASA ("PEN", OSE ticker code), the independent oil and gas
company with assets in West Africa and Brazil, is pleased to announce
that the company has successfully completed the USD 140 million 1st lien
bond issue ("the New Bond").
The proceeds from the bond issue will be used to refinance the Company's
existing debt (including Brazilian bank debt and the NEC01 bond debt) of
approximately USD 125 million and for general corporate purposes.
"With the completion of the New Bond, Panoro Energy has successfully
refinanced all outstanding interest bearing debt, resulting in about USD
80 million in improved financial strength over the next two years. This
is being achieved through lower amortization and interest costs, an end
to the cash sweep in Brazil as well as additional USD 15 million of
gross working capital from the bond issuance. The Company's financial
position is thereby significantly strengthened for the next two years",
says CEO Kjetil Solbraekke.
The New Bond will be split in two tranches, one USD tranche of USD 105
million and one NOK tranche of NOK 205 million, in total equaling USD
140 million. The transaction was oversubscribed. The New Bond will have
a tenor of eight years with annual installments of USD 14 million from
November 2012 until November 2017. The remaining USD 56 million matures
in November 2018.
The USD tranche will carry a coupon rate of 12% while the NOK tranche
will carry a coupon rate of 13,5%. The New Bond will inter alia have
share pledges in the Company's Brazilian subsidiaries, including the
subsidiary that holds a 10% share in the BCAM-40 license which includes
the Manati field.
Following the successful bond issue, the company will convene a
bondholders meeting to accept early redemption of the existing NEC01 (NO
001027594.4) bond loan at a call price of 104.0 plus accrued interest.
Investors in the NEC01 bond subscribing in the New Bond will be taken
out from the NEC01 bond at the call price at the settlement date for the
New Bond, while the remaining amount under the NEC01 will be redeemed at
latest on 15 January 2011 at the call premium (the exact date to be set
by the Trustee). The company has already received pre-acceptances from
the majority of the NEC01 bondholders.
Pareto Securities has acted as Sole Lead Manager for the new bond issue
and Arctic Securities and First Securities have acted as Co-Managers.
For further information, please contact:
Anders Kapstad, CFO
Tel: +47 23 01 10 01
Cell: +47 918 17 442
Email: anders.kapstad@panoroenergy.com (anders.kapstad@panoroenergy.com)
(anders.kapstad@panoroenergy.com (anders.kapstad@panoroenergy.com))
Jonas Gamre, Finance & Investor Relations Manager
Tel: +47 23 01 10 02
Cell: +47 971 18 292
Email: jonas.gamre@panoroenergy.com (jonas.gamre@panoroenergy.com)
(jonas.gamre@panoroenergy.com (jonas.gamre@panoroenergy.com))
Oslo Stock Exchange
2010-11-01 08:30:13
PEN: Panoro completes successful USD 140 million bond issue
Panoro completes successful USD 140 million bond issue
Panoro Energy ASA ("PEN", OSE ticker code), the independent oil and gas
company with assets in West Africa and Brazil, is pleased to announce
that the company has successfully completed the USD 140 million 1st lien
bond issue ("the New Bond").
The proceeds from the bond issue will be used to refinance the Company's
existing debt (including Brazilian bank debt and the NEC01 bond debt) of
approximately USD 125 million and for general corporate purposes.
"With the completion of the New Bond, Panoro Energy has successfully
refinanced all outstanding interest bearing debt, resulting in about USD
80 million in improved financial strength over the next two years. This
is being achieved through lower amortization and interest costs, an end
to the cash sweep in Brazil as well as additional USD 15 million of
gross working capital from the bond issuance. The Company's financial
position is thereby significantly strengthened for the next two years",
says CEO Kjetil Solbraekke.
The New Bond will be split in two tranches, one USD tranche of USD 105
million and one NOK tranche of NOK 205 million, in total equaling USD
140 million. The transaction was oversubscribed. The New Bond will have
a tenor of eight years with annual installments of USD 14 million from
November 2012 until November 2017. The remaining USD 56 million matures
in November 2018.
The USD tranche will carry a coupon rate of 12% while the NOK tranche
will carry a coupon rate of 13,5%. The New Bond will inter alia have
share pledges in the Company's Brazilian subsidiaries, including the
subsidiary that holds a 10% share in the BCAM-40 license which includes
the Manati field.
Following the successful bond issue, the company will convene a
bondholders meeting to accept early redemption of the existing NEC01 (NO
001027594.4) bond loan at a call price of 104.0 plus accrued interest.
Investors in the NEC01 bond subscribing in the New Bond will be taken
out from the NEC01 bond at the call price at the settlement date for the
New Bond, while the remaining amount under the NEC01 will be redeemed at
latest on 15 January 2011 at the call premium (the exact date to be set
by the Trustee). The company has already received pre-acceptances from
the majority of the NEC01 bondholders.
Pareto Securities has acted as Sole Lead Manager for the new bond issue
and Arctic Securities and First Securities have acted as Co-Managers.
For further information, please contact:
Anders Kapstad, CFO
Tel: +47 23 01 10 01
Cell: +47 918 17 442
Email: anders.kapstad@panoroenergy.com (anders.kapstad@panoroenergy.com)
(anders.kapstad@panoroenergy.com (anders.kapstad@panoroenergy.com))
Jonas Gamre, Finance & Investor Relations Manager
Tel: +47 23 01 10 02
Cell: +47 971 18 292
Email: jonas.gamre@panoroenergy.com (jonas.gamre@panoroenergy.com)
(jonas.gamre@panoroenergy.com (jonas.gamre@panoroenergy.com))
Nå, men heldigvis tog Panoro revanche efter dit indlæg - op 7,18% :)
2/11 2010 00:34 collersteen 035560 Jeg blev godt nok lidt negativt overrasket da jeg så rentesatserne på de lån. Det er åbenbart ikke billigt at låne, når man hedder NEC. JEg ville dog ikke blive overrasket hvis sector har aftaget en stor del af obligationslånet, men om vi får det at vide ved jeg ikke - ej heller om vi har krav på det iht. insiderlovgivningen i Norge.
Hej Hegu
HÆ HÆ det ser ud til jeg har haft NEC for længe. Jeg burde nok ha' indskrevet både NEC og PEN som ticker.
Jeg må ha simpelthen ha haft NEC så længe at "den" er blevet en del af min krop, som så har fået en lille filipens (Panoro), en af dem vi alle har... vi ved den er der, men tænker ikke videre over det.
Jeg blev hulme næsten smilende igår da jeg læste nyheden. På trods af ejer andele den ene og den anden vej, så var jeg sikker på et hit.
Jeg blev åbenbart fanget af overskriften med de 24 år.
Jeg vil forsætte med en aktiepost i pens (Mega langtid), og en i de friemidler, så kan man lave lidt på godt gammeldags købmandskab, nec bevæger sig jo en del. Ca en gang om året.
Tak for hjælpen og god aften
Nicsti (NEC-sti) :)
HÆ HÆ det ser ud til jeg har haft NEC for længe. Jeg burde nok ha' indskrevet både NEC og PEN som ticker.
Jeg må ha simpelthen ha haft NEC så længe at "den" er blevet en del af min krop, som så har fået en lille filipens (Panoro), en af dem vi alle har... vi ved den er der, men tænker ikke videre over det.
Jeg blev hulme næsten smilende igår da jeg læste nyheden. På trods af ejer andele den ene og den anden vej, så var jeg sikker på et hit.
Jeg blev åbenbart fanget af overskriften med de 24 år.
Jeg vil forsætte med en aktiepost i pens (Mega langtid), og en i de friemidler, så kan man lave lidt på godt gammeldags købmandskab, nec bevæger sig jo en del. Ca en gang om året.
Tak for hjælpen og god aften
Nicsti (NEC-sti) :)
Panoro - Anbefaling fra Pareto:
"With refinanced debt and the impending sale of the Ajapa field in Nigeria, Panoro Energy is on our estimates fully funded until it potentially decides to develop the BS-2 assets in Brazil (2014/2015). With the current pricing of the share at a discount to the value of Manati, we find the risk/reward in the share very attractive. BUY / TP NOK 15
} New bond loan improves financial flexibility considerably
- USD 140m bond replaced USD 125m bank/bond debt
- Old amortization profile of some USD 100m over the next three years replaced by USD 14m per year from 2012, final maturity in 2018
} Estimate current financing to be sufficient until 2014/2015
- Current cash of USD ~60m + USD 30m proceeds from sale of Ajapa to be sufficient to develop MKB field in Congo
} Significant production growth potential over the next four years
- MKB field in Congo could take production from 3,600 boe/day to 9,000 boe/day
} We have a BUY recommendation and NOK 15/share Target Price
- Current share price of NOK 5.8 is at discount to value of Manati field
- No value attributed by the market to growth assets in West-Africa and Brazil"
"With refinanced debt and the impending sale of the Ajapa field in Nigeria, Panoro Energy is on our estimates fully funded until it potentially decides to develop the BS-2 assets in Brazil (2014/2015). With the current pricing of the share at a discount to the value of Manati, we find the risk/reward in the share very attractive. BUY / TP NOK 15
} New bond loan improves financial flexibility considerably
- USD 140m bond replaced USD 125m bank/bond debt
- Old amortization profile of some USD 100m over the next three years replaced by USD 14m per year from 2012, final maturity in 2018
} Estimate current financing to be sufficient until 2014/2015
- Current cash of USD ~60m + USD 30m proceeds from sale of Ajapa to be sufficient to develop MKB field in Congo
} Significant production growth potential over the next four years
- MKB field in Congo could take production from 3,600 boe/day to 9,000 boe/day
} We have a BUY recommendation and NOK 15/share Target Price
- Current share price of NOK 5.8 is at discount to value of Manati field
- No value attributed by the market to growth assets in West-Africa and Brazil"
