Okea Småprat

[Evilfreud]

Lager ny tråd Rundt oljeselskapet Okea.

Fersk analyse ute fra SEB.

Oslo (TDN Direkt): Seb Equity Research tar opp dekning på Okea med en kjøpsanbefaling og kursmål 32 kroner, ifølge en oppdatering fra meglerhuset onsdag.
Okea har fokus på små til mellomstore utviklinger, støttet av sterk ledelse og en velprøvd merittliste, skriver meglerhuset. De mener dette, kombinert med en attraktiv eiendelsbase som er klar for videre vekst, samt rikelig med verditriggere på kort sikt, representerer en sterk egenkapitalstory med attraktiv verdsettelse.

[Evilfreud]

@pdx kan du sjekke om jeg gjorde rett med ticker, den fantes ikke. Kan bare slette denne posten når ticker er iorden.

Ticker skal være Okea.

[greyboss]

Kjøpte litt i blinde på denne for litt tilbake. Snart 7% opp på det.
Men vil det bli en fare for at de kommer til å kjøre en emisjon nå. De fikk ikke prisen de ønsket før de gikk på børs.

[Evilfreud]

Hvordan tror du det gir emmisjonsfare? Ble det solgt så mange egne aksjer i IPO?

[greyboss]

Eksakte tall må jeg heller sjekke opp senere i kveld.
Jeg bare spør om noen har et syn på om det vil komme, da de ikke fikk hentet inn ønsket sum. Jeg har aventet med å kjøpe mer aksjer pga av det. Å kommer sikkert til å vente et og to kvartaler til.

[Janno]

De “trengte” vel egentlig ikke penger, ble det sagt.

[Evilfreud]

Pareto starter dekning.

Full analyse på Paretoweb for kunder.

Update - 07 Aug 2019

OKEA - The new North Sea challenger

OKEA is a Norwegian E&P company with a high-quality production base of ~20,000 boe/day in 2019-22e that is expected to generate an avg. annual FCF of USD 45m at Brent USD 60/bbl. This enables OKEA to pursue its strategy of exploiting overlooked potential in medium sized discoveries, which through the revitalizing of the Yme project already has proven to be highly value accretive (6x return on capital at risk). With first oil at Yme in Q2’20e, several infill wells/tieback projects, important milestones on the potential Grevling & Storskrymten and Mistral developments and its niche focus increasing the likelihood of accretive M&A, we see several triggers for a further repricing of the lowest priced North Sea E&P company in our coverage universe. We initiate coverage with a BUY recommendation and TP NOK 35.

[Evilfreud]

Pareto Securities AS (paretosec)

[Evilfreud]

SP1M starter også dekning av Okea, Kjøp 33kr.

Disclaimer : SP1M deltok i IPOen.

[UNO]

Fikset riktig ticker

[Janno]

Kan vel anta at Okea vil ligge å snuse etter muligheter?

Reuters: ExxonMobil vil ut av Nordsjøen

[percb]

Stille på denne tråden, her fra en artikkel hos Petoro fra den 31.august
Vi har hatt et fantastisk første år. Nå produserer faktisk Draugen mere enn budsjettert og med lavere kostnader enn budsjettert.

Det er Senior Vice President Operations i OKEA, Tor Bjerkestrand som kan fortelle dette knapt ett år etter at OKEA overtok det modne feltet fra Shell. Med høyere produksjon og lavere kostnader blir det også mere penger i kassen til OKEA.

Feltet på Haltenbanken produserer nå 20 000 fat olje i døgnet. Med en oljepris og dollarkurs nå som gir rundt 550 kroner fatet, passerer inntektene til OKEA fra Draugen ti millioner kroner i døgnet. Fem prosent høyere produksjon enn budsjettert betyr en halv million ekstra i kassa for hvert døgn.

[TekBot]

OKEA ASA - Financial and operational update

OKEA ASA - Financial and operational update

Trondheim, 29 May 2020 - OKEA ASA (“OKEA” or the “Company”) hereby provides a
…

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financial and operational update.

In an effort to contribute to a faster stabilization of the oil and gas industry
following the demand disruptions caused by COVID-19, the Norwegian Government
announced in April its decision to implement production restriction measures for
oil production for 2020. For the Company’s portfolio, the main impact relates to
the Draugen field, as the Gjøa field (12.00% WI) is exempted from the production
limitations.

Permitted production volumes for Draugen (44.56% WI) for June and H2-20 have
been reduced from a total of 3.63 million bbls to a total of 3.43 million bbls.
In order to re-optimize the operation and production at Draugen, the license has
decided to move the bi-annual maintenance shutdown from September to late June.
On this basis, OKEA maintains the production guidance for 2020 of 14,000 -
15,000 boepd on average for the year. The revised shutdown schedule results in a
postponement of an OKEA lifting which was previously planned for June to August
which, due to revenue from sale of petroleum products being recognized in the
financial statements at lifting, will increase the risk of a breach in bond
covenants for Q2 2020.

Implementation of COVID-19 related infection control measures and travel
restrictions has resulted in significantly lower availability of personnel at
the Aker Solutions yard in Egersund where the Maersk Inspirer rig for the Yme
project (15.00% WI) is undergoing an upgrade. Consent for using the rig on the
Yme field was given by the Petroleum Safety Authority 18 May. In case of
prolonged restrictions, in addition to the inherent schedule risk of all large
modification projects, OKEA expects first oil for Yme to be delayed to the first
half of 2021. OKEA continues to work closely with operator Repsol to ensure a
robust and safe project execution.

OKEA is currently in dialogue with bondholders in OKEA02 and OKEA03 to discuss
terms of a temporary waiver. The Company is also monitoring the progress of the
Norwegian Government’s proposed temporary changes to the petroleum tax regime,
which may have a material positive liquidity effect for OKEA. A final resolution
by the Norwegian Parliament is expected before Parliament’s scheduled summer
leave on 19 June. The Company intends to await the recommendation from the
Government’s Finance Committee, which is expected on 4 June, prior to summon for
bondholders’ meetings.

For further information, please contact:

Erik Haugane, CEO, +47 907 21 655
Ståle Myhre, VP Investor Relations, +47 917 51 878

About OKEA ASA

OKEA is an Exploration and Production (E&P) company and operator on the
Norwegian Continental Shelf with production of ~19 000 boe per day. OKEA aims to
grow through low-cost field developments of discoveries with reserves up to 100
million boe and through mergers and acquisitions (M&A). The operating
organisation is built on the acquisition of the producing field Draugen in 2018.

OKEA is listed on Oslo Stock Exchange under the ticker “OKEA”.

More information on www.okea.no

Kilde

[Montebello]

OKEA er i dag verdsatt til 947 millioner. Selskapet sitter med 1 259 millioner i frie midler, ifølge deres Q1 rapport, og de hadde en omsetning på 551 millioner bare i første kvartal. OKEA eier Yme (Partner, 15.00%), Grevling / Storskrymten (Operator, 35.00% / 60.00%) som er under utvikling i dag, med forventet oppstart av Yme i starten av 2021… Selskapet har produksjon fra Draugen (Operator, 44.56%) , Gjøa (Partner, 12.00%) og Ivar Aasen (Partner, 0.554%). Total produksjon fra disse feltene er ca 19 000 boe per day.

Det er forventet oppstart på Yme-feltet i slutten av 2020, feltet har en estimert platå-produksjon på 7500 boe/day. Dette vil, sammen med dagens produksjon øke OKEAs output til 26600 boe/day.

Med 42$ oljepris og 9.4 kr /USD tilsvarer det ca 3.8 milliarder i inntekter. Break even på produksjon per i dag er 8.3 USD/boe.

100 000 bbl fra Draugen er i May i tillegg hedged på 57 USD/bbl.

For meg er dette uten tvil en NoBrainer! Det virker som primærinnsiderene også er veldig optimistiske til fremtiden til OKEA, handlene de har foretatt i 2020 er listet nedenfor:

Bengt Morten Sangolt, vara styremedlem i OKEA har i dag 14.04.2020, kjøpt 6000 aksjer i OKEA til en snittpris på 9,379 kroner.
Ny total beholdning etter kjøpet er 8966 aksjer.
14.04.2020, 13:43:58

Andrew James McCann has 28.02.2020 purchased 3000 shares in OKEA at an average price of NOK 14.00. Andrew James McCann holds after this transaction a total of 43295 shares in OKEA.
Trondheim, 28.02.2020
Andrew McCann

Espen Anton Myhra has 27.02.2020 purchased 710 shares in OKEA at an average price of NOK 15,4. The shares have been purchased in connection with OKEA’s approved annual incentive scheme. Espen Anton Myhra holds after this transaction a total of 120 124 shares in OKEA.

Tor Bjerkestrand has 26.02.20 purchased 600 shares in OKEA at an average price of NOK 16,50. The shares have been purchased in connection with OKEA’s incentive scheme. Tor Bjerkestrand holds after this transaction a total of 58262 shares in OKEA.

Bjørn I Pettersen has today 25th February 2020 purchased 4255 shares in OKEA at an average price of NOK 16,68. The shares have been purchased in connection with OKEA’s approved annual incentive scheme. Bjørn I Pettersen holds after this transaction a total of 6464 shares in OKEA.
Kristiansund , 25th Feb. 2020

Bengt Morten Sangolt, vara styremedlem i OKEA har i dag 21.02.2020, kjøpt 2966 aksjer i OKEA til en snittpris på 18,46 kroner.Ny total beholdning etter kjøpet er 4 185 aksjer. **
21.02.2020, 12:41:39

Jan Atle Johansen has today 20.02.2020 purchased 3108 shares in OKEA at an average price of NOK 17,881. The shares have been purchased in connection with OKEA’s approved annual incentive scheme. Jan Atle Johansen holds after this transaction a total of 36 229 shares in OKEA.
Kristiansund, 20.02.20
Jan Atle Johansen

Ragnhild Aas has 17.02.20 purchased 3615 shares in OKEA at an average price of NOK 16,90. The shares have been purchased in connection with OKEA’s approved annual incentive scheme. Ragnhild Aas holds after this transaction a total of 70752 shares in OKEA.

Andrew James McCann has 13.02.2020 purchased 4375 shares in OKEA at an average price of NOK 16.60. The shares have been purchased in connection with OKEA’s approved annual incentive scheme. Andrew James McCann holds after this transaction a total of 40295 shares in OKEA.

Tor Bjerkestrand has 13.02.20 purchased 12000 shares in OKEA at an average price of NOK 16.64. The shares have been purchased in connection with OKEA’s approved annual incentive scheme. Tor Bjerkestrand holds after this transaction a total of 40662 shares in OKEA.

Ida Ianssen Lundh has 13.02.2020 purchased 3926 shares in OKEA ASA at an average price of NOK 16,50. The shares have been purchased in connection with OKEA ASA’s approved annual incentive scheme. Ida Ianssen Lundh holds after this transaction a total of 52890 shares in OKEA ASA.

CEO Erik Haugane har i dag 13.02.20, kjøpt 10 000 aksjer i OKEA til en snittpris på 16,71 kroner. Erik Haugane eier etter dette 15 000 aksjer i OKEA ASA. (I tillegg eier Erik Haugane aksjer i OKEA via Kørven AS)

Andrew James McCann has 14.01.2020 purchased 1000 shares in OKEA at an average price of NOK 18.90. The shares have been purchased in connection with OKEA’s approved annual incentive scheme. Andrew James McCann holds after this transaction a total of 35920 shares in OKEA.

Espen Anton Myhra has 14.01.2020 purchased 4561 shares in OKEA at an average price of NOK 18,90. The shares have been purchased in connection with OKEA’s approved annual incentive scheme. Espen Anton Myhra holds after this transaction a total of 119 414 shares in OKEA.

Anne Lene Rømuld has today 10.01.2020 purchased 5750 shares in OKEA at an average price of 19 NOK. The shares have been purchased in connection with OKEA’s approved annual incentive scheme. Anne Lene Rømuld holds after this transaction 35323 shares in OKEA.

Sjækerhatten AS, where SVP Projects and Technology Anton Tronstad holds 100% of the shares, has 03.01.20 purchased 21 670 shares in OKEA at an average price of NOK 18,3933. The shares have been purchased in connection with OKEA’s approved annual incentive scheme. Sjækerhatten AS holds after this transaction a total of 1 473 409 shares in OKEA.
Trondheim, 03.01.20
Anton Tronstad

CEO Erik Haugane har i dag 03.01.20, kjøpt 5 000 aksjer i OKEA til en snittpris på 18,30 kroner. Erik Haugane eier etter dette 5 000 aksjer i OKEA ASA. (I tillegg eier Erik Haugane aksjer i OKEA via Kørven AS).

[Montebello]

Opp 25% idag, gikk ut med halvparten av posisjonen på 12.95 kr. Vurderer re-entry i morgen.

[TekBot]

Oslo Børs – OKEA ASA- Mottatt søknad om notering av obligasjonslån

Oslo Børs har mottatt søknad om børsnotering av ISIN NO0010869175.

Det følger av verdipapirhandelloven kapittel 5 at anvendelsesområde for informasjonsplikt gjelder for låntagere hvis obligasjoner er eller er søkt notert på børs. Informasjonsplikten etter reglene i verdipapirhandelloven er fra og med i dag gjeldende for ovennevnte lån.
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Kilde

[TekBot]

OKEA ASA - Summons to bondholders’ meeting

OKEA ASA - Summons to bondholders’ meeting

Trondheim, 15 June 2020 - OKEA ASA (“OKEA” or the “Company”) has requested
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Nordic Trustee AS to summon a Bondholders’ Meeting for each of the bond issues
OKEA02 (with ISIN NO 0010826852) and OKEA03 (with ISIN NO 0010869175) to make
certain amendments as set out in the attached summons. The Issuer has received
confirmation from a group of the largest bondholders in each of OKEA02 and
OKEA03, respectively, that they will irrevocably support the proposals as set
out in the summons and vote in favour.

The Norwegian Government has proposed temporary changes to the petroleum tax
regime in Norway in order to improve the liquidity of petroleum companies and
stimulate investments in the oil and gas industry. The proposal, which is
scheduled for passing this week, is expected to have a material positive effect
on the Company’s near term liquidity. Based on the Company’s estimates and the
current forward curve, the Company expects a positive liquidity effect for the
tax year 2020 of approximately USD 60 million.

The Bondholders’ Meeting will be held on 29 June 2020 at 13:00 (CET).

DNB Markets, a part of DNB Bank ASA, has been engaged as financial advisor and
Advokatfirmaet Schjødt AS has been engaged as legal advisor in connection with
the amendment proposal.

For further info please contact:

Birte Norheim, CFO, + 47 952 93 321

Ståle Myhre, VP Investor Relations, + 47 917 51 878

About OKEA ASA

OKEA is an Exploration and Production (E&P) company and operator on the
Norwegian Continental Shelf with production of ~19 000 boe per day. OKEA aims to
grow through low-cost field developments of discoveries with reserves up to 100
million boe and through mergers and acquisitions (M&A). The operating
organisation is built on the acquisition of the producing field Draugen in 2018.

OKEA is listed on Oslo Stock Exchange under the ticker “OKEA”.

More information on www.okea.no

Kilde

[TekBot]

OKEA ASA - Summons to bondholders’ meeting

OKEA ASA - Summons to bondholders’ meeting

Trondheim, 15 June 2020 - OKEA ASA (“OKEA” or the “Company”) has requested
…

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Nordic Trustee AS to summon a Bondholders’ Meeting for each of the bond issues
OKEA02 (with ISIN NO 0010826852) and OKEA03 (with ISIN NO 0010869175) to make
certain amendments as set out in the attached summons. The Issuer has received
confirmation from a group of the largest bondholders in each of OKEA02 and
OKEA03, respectively, that they will irrevocably support the proposals as set
out in the summons and vote in favour.

The Norwegian Government has proposed temporary changes to the petroleum tax
regime in Norway in order to improve the liquidity of petroleum companies and
stimulate investments in the oil and gas industry. The proposal, which is
scheduled for passing this week, is expected to have a material positive effect
on the Company’s near term liquidity. Based on the Company’s estimates and the
current forward curve, the Company expects a positive liquidity effect for the
tax year 2020 of approximately USD 60 million.

The Bondholders’ Meeting will be held on 29 June 2020 at 13:00 (CET).

DNB Markets, a part of DNB Bank ASA, has been engaged as financial advisor and
Advokatfirmaet Schjødt AS has been engaged as legal advisor in connection with
the amendment proposal.

For further info please contact:

Birte Norheim, CFO, + 47 952 93 321

Ståle Myhre, VP Investor Relations, + 47 917 51 878

About OKEA ASA

OKEA is an Exploration and Production (E&P) company and operator on the
Norwegian Continental Shelf with production of ~19 000 boe per day. OKEA aims to
grow through low-cost field developments of discoveries with reserves up to 100
million boe and through mergers and acquisitions (M&A). The operating
organisation is built on the acquisition of the producing field Draugen in 2018.

OKEA is listed on Oslo Stock Exchange under the ticker “OKEA”.

More information on www.okea.no

Kilde

[TekBot]

OKEA ASA - Update on amendment process

OKEA ASA - Update on amendment process

Trondheim, 18 June 2020 - In relation to OKEA ASA’s (“OKEA” or the “Company”)
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ongoing process to amend the terms of the OKEA02 and OKEA03 bond issues (the
“Bonds”), the Company has been informed by the Nordic Trustee that a small group
of Bondholders representing in excess of 10 % of the outstanding bonds in OKEA02
has requested to put forward a separate summons to a Bondholders’ meeting in
OKEA02 to be held on 2 July 2020 (available on www.stamdata.no).

The Company forecasts that it will maintain a healthy liquidity position
throughout the period and to be in a position to manage its debt commitments as
they come due. The Company also underlines that its near-term financial position
will be significantly strengthened by the temporary changes to the Norwegian
Offshore Petroleum Tax regulation as resolved by Parliament earlier this week.
The Bondholders will benefit substantially from the improved liquidity position
by being offered an option to redeem 15% of the bonds at par value in June 2021.

The Company regards the proposal brought forward by the small group of
bondholders as highly opportunistic. For the avoidance of doubt, we hereby
confirm that the Bondholders’ meetings summoned by the Company will proceed as
planned on 29 June 2020.

OKEA’s request to the Bondholders for an amendment of the Leverage Ratio through
2020 and 2021 is brought on by the significant challenges facing the global oil
and gas industry amidst the steep drop in oil prices following the outbreak of
the COVID-19 pandemic. In the proposal, the Company is requesting Bondholders to
accept a temporary amendment of the Leverage Ratio levels, before returning to
the original maximum Leverage Ratio level of 2.0x from 1 January 2022, as well
as certain changes to Capital Employed Ratio and hedging allowances.

The Company firmly believes that it has put forward a fair proposal and has
support for the proposal from Bondholders representing more than 50% in each of
OKEA02 and OKEA03. The Company furthermore notes the material appreciation in
the market price of the Bonds following the publication of the Company’s
proposal on 15 June 2020.

For further info please contact

Birte Norheim, CFO OKEA, +47 952 93 321

DNB Markets: +47 24 16 90 17, bond.syndicate@dnb.no

Kilde

[TekBot]

Oslo Børs - OKEA03 - Nytt lån til notering / New bond issue to be listed 23.06.2020

Lånets navn / Issue name: Okea ASA 19/24 8,75% USD C
Ticker: OKEA03
Instrument ID: 1305492
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ISIN: NO0010869175
Segment: OBOC
Hjemstat / Home state: NO
Handelsvaluta / Trading currency: USD
Lånebeløp / Issued amount: 120 mill, åpent lån / tap issue
Rentebærende f.o.m. / Interest accrual date: 11.12.2019
Forfallsdato / Maturity date: 11.12.2024
Kupongrente / Coupon rate: 8,75 % p.a.
Sektorliste / Sector list: Industri og handel / Industry and commercial
Tilretteleggere / Managers: DNBSpareBank 1 Markets
Verdipapirregister / Central Securities Depository: VPS
ESMA-kategori / ESMA category: Corporate bond
Godkjent prospekt tilgjengelig på / Approved prospectus available on:
[http://www.oslobors.no]

Kilde