Thread by @MomentumFinanc3

🇬🇧💥Our First English Tesis💥🇬🇧

👉🏻It couldn’t be any other tan #KISTOS.

🍐In this thread we will summarize the key investment ideas.

👉🏻Kistos PLC is the new Project from Andrew Austin after the succesful selling of RRE.

👉🏻The same team that managed RRE is now managing Kistos.

@BenmoreRichard , Peter Mann, Richard Slape, Julie Barlow & Alan Booth are already on board.

👉🏻They got a 42x for every USD invested in RRE.

They have now found a way to benefit on energy transition in Europe thanks to an ESG approach and top asset acquisitions.

👉🏻With very low emissions they expect to have ECO-gas to sell for an overprice to the european utilities

👉🏻There is no doubt that the management is fully aligned with shareholders, as AA is the biggest shareholder (17%) and other senior managers like Benmore have also relevant stakes.

👉🏻KISTOS PLC was floated at 100p

👉🏻Current Price is above 450p

🍐Still, the FCF yield at this Price is above 100%!!!

👉🏻If you check the 42x in RRE it is clear that we are just starting here

🇳🇱The dutch assets have the lowest emissions in the North Sea.

👉🏻Q10-A platform is fully automatized and Works with renewable energy (solar and wind).

🍐As it is only 20kms far from the coast, the transport costs are minimal.

🏴󠁧󠁢󠁳󠁣󠁴󠁿The assets acquired in Scotland Will provide an instant cashflow this year🇬🇧

👉🏻Kistos is paying $125M for these assets, but they are getting the cash from 1st January 2022.

🍐#Kistos has to pay in June 2022. The asset will probably pay for its own acquisition.

💥And what about the oil?💥

👉🏻The dutch assets have huge oil reserves that Will come online at the end of 2023.

🤏🏻The incredible nat gas prices of today have guaranteed the CAPEX needed to develop the Oil

🏴󠁧󠁢󠁳󠁣󠁴󠁿Is the GLA Deal Good?🇬🇧

👉🏻Without any doubt: YES

🍐As discussed before we get the assets FOR FREE. Do you know better deals tan that? Getting an online nat. gas asset that you pay in les tan 6 months, with more assets to develop in the future and a 20% on a nat. gas plant.

🏴󠁧󠁢󠁳󠁣󠁴󠁿Let’s talk about the gas plant in the Shetlands🇬🇧

👉🏻We are getting 20% of that plant as part of the deal.

🍐This asset Will be key for future natural gas developments in that área. Any gas that comes online there, will need to use this plant.

🏴󠁧󠁢󠁳󠁣󠁴󠁿Current assets include one asset online, that Will pay the whole acquisition in 6 months.

🏴󠁧󠁢󠁳󠁣󠁴󠁿Glendronach is an asset that we can be put online in a short time, ⬆️ production at a very low cost

🏴󠁧󠁢󠁳󠁣󠁴󠁿Benriach will potentially double the current production for the whole kistos.

🤔Why is kistos a huge assimetric investment?

👉🏻There is no short term solution to the european natural gas market. TTF prices under 30 euros ARE OVER. We Will probably have high prices FOR YEARS

🎁New asset provides diversification over the dutch asset. Now the operational risk is way lower.

🍐#KIST have the best management in town. AA did around 2 deals per year in RRE and so far in Kistos the same.

🍐 We expect more deals at ridiculous prices.