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KrisEnergy
12-07-2013, 07:40 PM. (This post was last modified: 10-11-2016, 01:29 AM by cyclone. Edit Reason: Changed thread title )
Post: #1
KrisEnergy
Prospectus found here

http://masnet.mas.gov.sg/opera/sdrprosp....0body).pdf


SINGAPORE, July 12 (Reuters) - KrisEnergy Ltd, backed by Keppel Corp Ltd and private equity firm First Reserve, said it would raise up to $203.6 million by listing its shares in Singapore, in a sign of improving investor sentiment for fund-raising in the city-state.

KrisEnergy's IPO comes just days after Overseas Union Enterprise Ltd and media group Singapore Press Ltd separately announced plans to list REITs.

KrisEnergy, an oil and gas explorer which focuses on Southeast Asia, is selling 151.99 million shares and an additional 94.16 million shares to cornerstone investors at S$1.10 per share. The company plans to raise gross proceeds of S$270.8 million, it said.

After the initial public offering, First Reserve will own a stake of 48.1 percent and Keppel Corp 31.4 percent of the company, the prospectus said.

KrisEnergy plans to use $85 million of the proceeds to bring six fields in Southeast Asia to post-production, and $30 million for working capital and leave the rest in reserves, Richard Lorentz, executive director of the company, told Reuters.

CLSA and Merrill Lynch are the joint bookrunners, OCBC and HSBC are the co-lead managers, and Pareto Securities is the co-manager of the issue.

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13-07-2013, 10:32 AM.
Post: #2
RE: Kris Energy IPO
Sounds like a risky business to me...

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13-07-2013, 11:07 AM.
Post: #3
RE: Kris Energy IPO
It's doing upstream oil and gas exploration. Looking at its financial statements, it's profit is dwindling in the last 3 years. It's operating cashflow is also dwindling but recently Keppel Corp bought a 20% stake in it.

According to Mr. Choo, there's potential in their exploration. Yes, it is a risky business and there is high chance that their exploration did not find any oil or gas but if they do find it, it could be a very lucrative business.

Application for the IPO starts from 9pm yesterday and ends on 17 July 12pm. The share is priced at $1.10 each.

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13-07-2013, 11:31 AM.
Post: #4
RE: Kris Energy IPO
(13-07-2013, 11:07 AM)Some-one Wrote: It's doing upstream oil and gas exploration. Looking at its financial statements, it's profit is dwindling in the last 3 years. It's operating cashflow is also dwindling but recently Keppel Corp bought a 20% stake in it.

According to Mr. Choo, there's potential in their exploration. Yes, it is a risky business and there is high chance that their exploration did not find any oil or gas but if they do find it, it could be a very lucrative business.

Application for the IPO starts from 9pm yesterday and ends on 17 July 12pm. The share is priced at $1.10 each.
Agree with you, high risk, high returns. It depends what your investment objective is, if you are going for high returns, by all means, take a punt. I cannot afford to lose my capital and would rather give this one a miss.

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13-07-2013, 11:44 AM.
Post: #5
RE: Kris Energy IPO
I kinda miss SPC~ wonder why they sold it off and now bought this

http://stockbrokerplayspoker.blogspot.sg/
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13-07-2013, 12:28 PM.
Post: #6
RE: Kris Energy IPO
(13-07-2013, 11:44 AM)felixleong Wrote: I kinda miss SPC~ wonder why they sold it off and now bought this

This is how Mr. Choo answer in response to your question. It can be found on page 13 of Keppel Corp Annual Report 2012


Q) Keppel has invested into
companies such as KrisEnergy and
Floatel International. What are your
plans for these strategic investments?

A) We are always looking for
opportunities to grow our core
businesses and competitive strengths.

Through selectively investing in niche
areas, we expect to tap into synergistic
market segments that can produce
sustainable returns and greater value
for our shareholders in the long run.
KrisEnergy’s portfolio contains a
good balance of exploration and
developmental stage assets, and
proven reserves with the potential
to grow. Floatel International is
expanding its fleet to meet rising
demand for floating accommodation
semisubmersibles in places such as
offshore Brazil and the North Sea.
Our stakes in these companies will
enable us to widen the acceptance
of our own solutions, as well as
participate in and extract value from
more segments of the oil and gas
industry. There will also be many
opportunities to pursue areas of
common interests and mutual benefit.

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14-07-2013, 12:58 AM.
Post: #7
RE: Kris Energy IPO
Kris Energy is interesting because they are ex Pearl Energy team
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14-07-2013, 01:04 AM.
Post: #8
RE: Kris Energy IPO
http://krisenergy.com/default/assets/Kri...an2013.pdf [Corporate Presentation]

Might interest prospective investors ?

(Not Vested)
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Disclaimer: Please feel free to correct any error in my post. I am not liable for anything. Do your own research and analysis. I do NOT give buy or sell calls and stock tips. Buy and sell at your risk. I am not a qualified financial adviser so I do not give any advice. The postings reflects my own personal thoughts which may or may not be accurate.

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14-07-2013, 08:49 AM.
Post: #9
RE: Kris Energy IPO
Quote:More than half of our contract areas are unproven and may never be developed
We currently have insufficient producing assets to cover our exploration and development costs. More
than half of our contract areas are unproven and undeveloped, and we would require significant capital
to prove and develop such contract areas before they may become productive.

Quote:The Offering Price of our Shares is higher than our net asset value per Share

So their half their assets are based on valuation, and they may never find oil in the fields they hold. Their NAV's $0.52, so the offering is expecting a $0.58 premium? Feels like they've already priced in finding a lot a lot a lot of oil.

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14-07-2013, 12:04 PM.
Post: #10
RE: Kris Energy IPO
Lazy man thinking: pearl energy track record and keppel brand.

Can Tikam. Hahha.
=========== Signature ===========
"... but quitting while you're ahead is not the same as quitting." - Quote from the movie American Gangster

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