Otto Energy...Multibagger?
19.04.21 18:57
#1
Tiger
Otto Energy...Multibagger?
Otto Energy?
https://polaris.brighterir.com/public/...urces/news/rns/story/x8o1z9r
https://polaris.brighterir.com/public/...urces/news/rns/story/x8o1z9r
3 Postings ausgeblendet.
02.03.22 09:13
#5
Angelman
Moin
Otto ist für mich ein Nebeninvest. Bin zwar eingelesen und halbwegs im Bilde, kann mir aber für die Zukunft kein Szenario zurechtbasteln.
Ist, außer dem steigenden Ölpreis, noch was in der Pipeline, was uns in naher Zukunft richtig glücklich machen könnte???
Vielleicht können wir ja hier mal wieder etwas Bewegung in den Thread bringen und uns austauschen...
Gruß von der Nordseeküste :-)
Ist, außer dem steigenden Ölpreis, noch was in der Pipeline, was uns in naher Zukunft richtig glücklich machen könnte???
Vielleicht können wir ja hier mal wieder etwas Bewegung in den Thread bringen und uns austauschen...
Gruß von der Nordseeküste :-)
12.06.23 16:55
#11
iDonk
Angeblich
Schuldenfrei und mit Cash in the Däsch (badisch für Tasche).
CEO Mike Utsler:
After a significant turnaround of Otto’s financial performance over the past two years, and the application of a highly disciplined approach to capital allocation and investment, we remain frustrated by Otto’s current equity market trading value. We believe that we have built a sustainable group of high-performing Gulf Coast assets that will continue to provide meaningful cash flow for many years. If you compare that to our current implied enterprise value, the Board and I firmly believe that this portfolio, and its further upside potential, is being meaningfully undervalued. This is particularly so when one considers the robustness of our current financial position, with US$24 million in cash and no debt.
Analysen 2022
https://ottoenergy.com/wp-content/uploads/2022/08/...ker-Research.pdf
We value Otto in a range from A$0.025 to A$0.056, with a mid-case of A$0.045, based on DCF of production. Other valuation measures EV/boe of ~US$2.6/boe for 2P reserves, and forecast EV/EBITDAX multiples over the next 2 years of ~0.4X further evidence a very steep discount to fair value.
https://ottoenergy.com/wp-content/uploads/2022/08/...r_Bayou_2022.pdf
We maintain our Buy recommendation for OEL with an increased price target of $0.045/share (prior $0.04), as the company rapidly adds to production profile and generates cash, taking advantage of commodity tailwind. We maintain the view there is continuing material upside, with the current share price reflecting a low realised WTI outcome under 2P reserve., especially in the face of sustained strong pricing.
Informativ:
Otto Energy Limited (ASX: OEL) (Otto or the Company) advises that it has initiated a formal review process to evaluate strategic options to maximize shareholder value. This process will include assessment of a potential partial or full sale of the Company and/or its assets.
Seaport Global Securities (in the United States) and Adelaide Equity Partners Limited (in Australia) have been retained as financial advisors, and Akin Gump and Steinepreis Paganin as legal counsel, to assist with this process.
Notwithstanding the initiation of this review process, Otto intends to continue:
• Ongoing investment in the Company’s assets to optimize resource recovery and value.
• Consider utilisation of mechanisms to deliver tangible shareholder returns:
o Which might include capital returns, share dividends, on- or off-market share buybacks, and/or other possible strategies.
o Which may also include new asset-level investments in development opportunities and/or production to build upon its recent track record of success in conventional Gulf Coast wells.
CEO Mike Utsler:
After a significant turnaround of Otto’s financial performance over the past two years, and the application of a highly disciplined approach to capital allocation and investment, we remain frustrated by Otto’s current equity market trading value. We believe that we have built a sustainable group of high-performing Gulf Coast assets that will continue to provide meaningful cash flow for many years. If you compare that to our current implied enterprise value, the Board and I firmly believe that this portfolio, and its further upside potential, is being meaningfully undervalued. This is particularly so when one considers the robustness of our current financial position, with US$24 million in cash and no debt.
Analysen 2022
https://ottoenergy.com/wp-content/uploads/2022/08/...ker-Research.pdf
We value Otto in a range from A$0.025 to A$0.056, with a mid-case of A$0.045, based on DCF of production. Other valuation measures EV/boe of ~US$2.6/boe for 2P reserves, and forecast EV/EBITDAX multiples over the next 2 years of ~0.4X further evidence a very steep discount to fair value.
https://ottoenergy.com/wp-content/uploads/2022/08/...r_Bayou_2022.pdf
We maintain our Buy recommendation for OEL with an increased price target of $0.045/share (prior $0.04), as the company rapidly adds to production profile and generates cash, taking advantage of commodity tailwind. We maintain the view there is continuing material upside, with the current share price reflecting a low realised WTI outcome under 2P reserve., especially in the face of sustained strong pricing.
Informativ:
Otto Energy Limited (ASX: OEL) (Otto or the Company) advises that it has initiated a formal review process to evaluate strategic options to maximize shareholder value. This process will include assessment of a potential partial or full sale of the Company and/or its assets.
Seaport Global Securities (in the United States) and Adelaide Equity Partners Limited (in Australia) have been retained as financial advisors, and Akin Gump and Steinepreis Paganin as legal counsel, to assist with this process.
Notwithstanding the initiation of this review process, Otto intends to continue:
• Ongoing investment in the Company’s assets to optimize resource recovery and value.
• Consider utilisation of mechanisms to deliver tangible shareholder returns:
o Which might include capital returns, share dividends, on- or off-market share buybacks, and/or other possible strategies.
o Which may also include new asset-level investments in development opportunities and/or production to build upon its recent track record of success in conventional Gulf Coast wells.
20.06.23 10:43
#13
iDonk
Australien plus 15 Prozent wegen News
tl;dr Version: Mike Utsler wurde wegen Luftpumpensyndrom entlassen, stattdessen werkelt jetzt ein Gremium an einem Merger&Acquisition Event, also an einem Verkauf von Teilen oder der ganzen Firma. Shareholder Value Steigerung ist das Ziel. Klar… und der neue CEO bekommt auch n kleinen Bonus von 300.000 USD wenn das Ganze bis 1.3.24 über die Bühne geht (genauer: including a takeover, merger, scheme of arrangement, sale of assets, share buy-back, special dividend, or a series of liquidity events)
STRATEGIC OPTIONS PROCESS UPDATE
The Board of Otto Energy Limited (ASX:OEL)(Otto or the Company) advises that following initiation of the formal review process as announced on 29 March 2023, there has been significant interest in the Company and its assets.
As set out in the ASX announcement dated 29 March 2023, the intent of the formal review process, lead by Seaport Global and Adelaide Equity Partners, and supervised by a Board Sub Committee of Independent Directors, was to maximise shareholder value and include assessment of a potential partial or full sale of the Company and/or its assets.
The strategic review was initiated due to the Directors’ belief that Company’s shares have traded, and continue to trade at a significant discount relative to the intrinsic value of the underlying assets, notwithstanding that Otto is debt free with a strong balance sheet, has significant free cash and positive cash flow.
The Board remains confident of a positive outcome to this process which, if successful, would enable the Company to adequately reward shareholders by various methods, including a return of capital to shareholders from the proceeds of a sale of the Company’s assets.
With the review now well progressed, Mr Mike Utsler, Executive Chairman and Chief Executive Officer of Otto and the Board of Otto have mutually agreed to terminate Mr Utsler's employment contract. Mike will provide consulting services to the Company to ensure a smooth transition and handover. Under Mike's leadership Otto has achieved strong financial performance, as well as the successful commercialization of several new projects including Green Canyon 21 which began production in March of this year. The Board thanks Mike for his important contribution to Otto’s success over the last 2,5 years and wishes him well in his pursuit of other opportunities.
The Board is pleased to announce the appointment of Mr Steve Herod as Chief Executive Officer of Otto Energy Limited effective immediately. Mr Herod has over 40 years experience in the oil and gas industry in the USA, together with a distinguished career both as an entrepreneur and CEO. He has successfully completed numerous M&A transactions creating significant shareholder value. He was co-founder of Petrohawk Energy Corporation and lead the successful sale of Petrohawk to BHP in a multi-billion dollar transaction. He subsequently was CEO of Grizzly Energy which he also successfully divested
The Board is also pleased to announce that Mr John Jetter, who has extensive experience in investment banking as a former senior executive of JPMorgan and who has supported Otto for 15 years both as a former Chairman and as a director will assume the role of Non- Executive Chairman and he and the Board will work closely with Mr Herod to bring the planned M&A process to a successful conclusion.
Mr Paul Senycia, Non-Executive Director, will be appointed as Deputy Non-Executive Chairman. Mr Senycia is a seasoned geoscientist with over 35 years of international oil and gas experience in both commercial and technical aspects of the business. Over the last twenty years Mr Senycia has accumulated substantial Gulf of Mexico expertise both on the shelf and in the deep water. Up until his retirement on 31 December 2018, Mr Senycia was the Vice President – Exploration and New Ventures for the Company.
The Chairman John Jetter commented as follows:
“I wish to thank Mike for his contribution over the last 2,5 years.
It is the Board’s and my intention to seek to maximise value creation for shareholders by way of a successful M&A process and a subsequent distribution of proceeds to shareholders. I look forward to working closely with Mr Herod to achieve that goal. The M&A process lead jointly by Seaport Global and Adelaide Equity has produced significant buyer interest, and we expect a positive outcome.”
This release is authorized by the Board of Otto.
Key Terms Summary
term: Appointment on an on-going basis but for an initial term of 6 months.
Fixed Remuneration: US$30,000 per month comprising base salary plus a sign on bonus of US$10,000.
incentive: Mr Herod will be entitled to receive a cash bonus if there is a liquidity event that results in a return of capital to the Company’s shareholders (including a takeover, merger, scheme of arrangement, sale of assets, share buy-back, special dividend, or a series of liquidity events) that arises from the signing of definitive documents during Mr Herod’s employment not later than 1 March 2024. The maximum amount of the cash bonus is US$300,000.
Termination and Notice: The Company or Mr Herod may terminate the agreement at will.
other: The agreement is otherwise on standard terms and conditions for contracts of this nature.
STRATEGIC OPTIONS PROCESS UPDATE
The Board of Otto Energy Limited (ASX:OEL)(Otto or the Company) advises that following initiation of the formal review process as announced on 29 March 2023, there has been significant interest in the Company and its assets.
As set out in the ASX announcement dated 29 March 2023, the intent of the formal review process, lead by Seaport Global and Adelaide Equity Partners, and supervised by a Board Sub Committee of Independent Directors, was to maximise shareholder value and include assessment of a potential partial or full sale of the Company and/or its assets.
The strategic review was initiated due to the Directors’ belief that Company’s shares have traded, and continue to trade at a significant discount relative to the intrinsic value of the underlying assets, notwithstanding that Otto is debt free with a strong balance sheet, has significant free cash and positive cash flow.
The Board remains confident of a positive outcome to this process which, if successful, would enable the Company to adequately reward shareholders by various methods, including a return of capital to shareholders from the proceeds of a sale of the Company’s assets.
With the review now well progressed, Mr Mike Utsler, Executive Chairman and Chief Executive Officer of Otto and the Board of Otto have mutually agreed to terminate Mr Utsler's employment contract. Mike will provide consulting services to the Company to ensure a smooth transition and handover. Under Mike's leadership Otto has achieved strong financial performance, as well as the successful commercialization of several new projects including Green Canyon 21 which began production in March of this year. The Board thanks Mike for his important contribution to Otto’s success over the last 2,5 years and wishes him well in his pursuit of other opportunities.
The Board is pleased to announce the appointment of Mr Steve Herod as Chief Executive Officer of Otto Energy Limited effective immediately. Mr Herod has over 40 years experience in the oil and gas industry in the USA, together with a distinguished career both as an entrepreneur and CEO. He has successfully completed numerous M&A transactions creating significant shareholder value. He was co-founder of Petrohawk Energy Corporation and lead the successful sale of Petrohawk to BHP in a multi-billion dollar transaction. He subsequently was CEO of Grizzly Energy which he also successfully divested
The Board is also pleased to announce that Mr John Jetter, who has extensive experience in investment banking as a former senior executive of JPMorgan and who has supported Otto for 15 years both as a former Chairman and as a director will assume the role of Non- Executive Chairman and he and the Board will work closely with Mr Herod to bring the planned M&A process to a successful conclusion.
Mr Paul Senycia, Non-Executive Director, will be appointed as Deputy Non-Executive Chairman. Mr Senycia is a seasoned geoscientist with over 35 years of international oil and gas experience in both commercial and technical aspects of the business. Over the last twenty years Mr Senycia has accumulated substantial Gulf of Mexico expertise both on the shelf and in the deep water. Up until his retirement on 31 December 2018, Mr Senycia was the Vice President – Exploration and New Ventures for the Company.
The Chairman John Jetter commented as follows:
“I wish to thank Mike for his contribution over the last 2,5 years.
It is the Board’s and my intention to seek to maximise value creation for shareholders by way of a successful M&A process and a subsequent distribution of proceeds to shareholders. I look forward to working closely with Mr Herod to achieve that goal. The M&A process lead jointly by Seaport Global and Adelaide Equity has produced significant buyer interest, and we expect a positive outcome.”
This release is authorized by the Board of Otto.
Key Terms Summary
term: Appointment on an on-going basis but for an initial term of 6 months.
Fixed Remuneration: US$30,000 per month comprising base salary plus a sign on bonus of US$10,000.
incentive: Mr Herod will be entitled to receive a cash bonus if there is a liquidity event that results in a return of capital to the Company’s shareholders (including a takeover, merger, scheme of arrangement, sale of assets, share buy-back, special dividend, or a series of liquidity events) that arises from the signing of definitive documents during Mr Herod’s employment not later than 1 March 2024. The maximum amount of the cash bonus is US$300,000.
Termination and Notice: The Company or Mr Herod may terminate the agreement at will.
other: The agreement is otherwise on standard terms and conditions for contracts of this nature.
Angehängte Grafik:
img_3796.jpeg (verkleinert auf 14%)
img_3796.jpeg (verkleinert auf 14%)
20.06.23 14:16
#16
iDonk
Massive Unterbewertung laut Otto Gremium
0.045 AUD wert laut Research im mid-Case-Szenario. Das sind aktuell 0,028 EUR umgerechnet.
Ich denke, da kommt jetzt Bewegung rein.
Steve Herod hat Grizzly Energy im Nu verkauft: https://grizzlyenergyllc.com/owner-relations/
„The M&A process lead jointly by Seaport Global and Adelaide Equity has produced significant buyer interest“ - sobald das Verfahren also durch ist, sollte es hier rund gehen. Wenn die Wells und Drills positiv wirtschaften, wie immer vorgegeben wird und abbezahlt sind, ergibt das Cash und ergibt 1:1 Value ohne Risiko.
Ich denke, da kommt jetzt Bewegung rein.
Steve Herod hat Grizzly Energy im Nu verkauft: https://grizzlyenergyllc.com/owner-relations/
„The M&A process lead jointly by Seaport Global and Adelaide Equity has produced significant buyer interest“ - sobald das Verfahren also durch ist, sollte es hier rund gehen. Wenn die Wells und Drills positiv wirtschaften, wie immer vorgegeben wird und abbezahlt sind, ergibt das Cash und ergibt 1:1 Value ohne Risiko.
20.06.23 21:35
#17
Tiger
Mit einem Kurs-Gewinn-Verhältnis (oder "KGV") von
2,4x könnte Otto Energy Limited (ASX:OEL) derzeit sehr optimistische Signale senden, da fast die Hälfte aller Unternehmen in Australien ein KGV von mehr als 17x aufweist und selbst KGVs von mehr als 34x nicht ungewöhnlich sind.
https://finance.yahoo.com/news/...t-buying-otto-energy-050756517.html
https://finance.yahoo.com/news/...t-buying-otto-energy-050756517.html
13.07.23 08:10
#20
iDonk
0,018 sind 0,011 EUR
EUR/AUD 1,63
https://www2.asx.com.au/markets/company/oel
https://www2.asx.com.au/markets/company/oel