The Lemon Fool

Kistos Energy probably deserve their own thread!

Andrew Austin achieved remarkable returns with RockRose Energy (basically x40!) between 2016 and 2020.
Strategy was based on M&A acquisitions in North Sea - eventually selling out to Viaro last year.
Andrew Austin is now back his latest venture - Kistos Energy.
At present Austin owns 27% stake having put in £10 million of his own cash. So he has plenty skin in the game.
Notionally this is an energy transition company.
Though I reckon that is basically green wash to justify extensive market funding for future acquisition deals.

First deal has recently been concluded - Tulip energy.
Upon compleation this will transform company from cash shell to producing asset.
Planned re-float date is mid-May 21.
Anyone else invested ? Simply based on history of Rock Rose Energy this one might fly?
AA knows how to work a share price...

https://www.offshore-technology.com/new ... therlands/

Kistos have raised 52 million at £1.55 to finance Tulip deal.

The existing shares re-open for trading tomorrow at 7am. Will be interesting to see what the premium might be ahead of refloat and Tulip acquisition on 17th May.

Have to admit that I think Andrew Austin is something of a (likeable) city "del-boy". However : he certainly gets deals done and at RRE knows how to add share holder value. On that basis I am in for modest amount longer-term. Delighted so far (50% up since November).

Anyone else got thoughts on this?

Lots of potential here :
- Roadmap to expand production from 5K boepd to 15k boepd.
- Future acquisitions plans
- Greenest assets in North sea based on scope-emissions.

https://www.youtube.com/watch?v=azozC22cFhA

Sometimes I wonder if I should be trusted with my own money. I decided that last Friday was my deadline for news from PHAR before I offloaded a chunk of my shares. I wanted to keep my current weighting in oil. So the money was going into KIST, or Harbour (HBR). Chose Kistos. Today find the Tulip acquisition has completed, and shares up 6.5%. If I did research I could be dangerous.

> Sometimes I wonder if I should be trusted with my own money.

Yeah, I am 80% invested in unit trusts these days...
However : I am happy to trust Andrew Austin with a chunk of my money.
He appears to have credible plan with unique ESG credentials for energy transition which should see a good return over 3-5 year period.
The Tulip deal appears to be a very promising start.