2026 Q2 - tulosraportti
20 päivää sitten
‧29 min
Tarjoustasot
Määrä
Osto
-
Myynti
Määrä
-
Viimeisimmät kaupat
| Aika | Hinta | Määrä | Ostaja | Myyjä |
|---|---|---|---|---|
| 652 | - | - | ||
| 816 | - | - | ||
| 1 108 | - | - | ||
| 1 497 | - | - | ||
| 239 | - | - |
Huomioi, että vaikka osakkeisiin säästäminen on pitkällä aikavälillä tuottanut hyvin, tulevasta tuotosta ei ole takeita. On olemassa riski, että et saa sijoittamiasi varoja takaisin.
Rahastot ja ETF:t, joilla on osaketta
Mikään rahasto ei ilmoita osaketta kymmenen suurimman omistuksensa joukossa.
Asiakkaat katsoivat myös
Yhtiötapahtumat
Datan lähde: Quartr| Seuraava tapahtuma | |
|---|---|
2026 Q3 - tulosraportti 24.11. |
| Menneet tapahtumat | ||
|---|---|---|
2026 Q2 - tulosraportti 1.9. | ||
2026 Q1 - tulosraportti 26.5. | ||
2025 Q4 - tulosraportti 24.2. | ||
2025 Q3 - tulosraportti 18.11.2025 | ||
2025 Q2 - tulosraportti 19.8.2025 |
Tämän sivun uutiset ja/tai sijoitussuositukset tai otteet niistä sekä niihin liittyvät linkit ovat mainitun tahon tuottamia ja toimittamia. Nordnet ei ole osallistunut materiaalin laatimiseen, eikä ole tarkistanut sen sisältöä tai tehnyt sisältöön muutoksia. Lue lisää sijoitussuosituksista.
Foorumi
Liity keskusteluun Nordnet Socialissa
Kirjaudu
·16 t sitten · MuokattuSummary of Q2 2026 earnings call — KEO Capital / KEO Energy Fintech: operational figures - Active customers: 61 at the end of June, average customer count up 16% quarter over quarter and 18% year over year - Outstanding portfolio: MUSD 50.7 at quarter-end, average MUSD 45.6 in the quarter (up 88% year over year, but down 8% quarter over quarter — explained as a seasonal effect early in the quarter with recovery in May/June) - Total Payment Volume (TPV): MUSD 51.4 in the quarter (+39% year over year, +19% quarter over quarter), MUSD 94.5 for 1H 2026, MUSD 180 last twelve months - Revenue: MUSD 3.0 for 1H 2026, MUSD 5.0 last twelve months, take rate of 3.1% of TPV - Canada launched in July/Q3 2026, with a revolving credit facility of CAD 50 mill. from a Canadian bank (~6.5% interest p.a., 80% advance rate) - Amex agreement in Mexico renewed, now with both USD and Mexican pesos as approved currencies - Brazil expected to be launched in the second half of 2026 Energy: Venezuela - Stake in PetroUrdaneta increased from 24% to 40% via definitive agreement with Novonor (purchase price USD 37.5 mill. for the remaining 16%, paid in three installments: 5.35 mill. upon signing, 22.15 mill. upon closing expected 30. November, 10 mill. deferred) - The company is also negotiating for an additional 9.9% stake, which would take the total stake up to 49.9% (mentioned by Tomassoni, not yet confirmed in written material) - Operating agreements signed with PDVSA 28. August, which secures KEO Energy control over operations, commercialization of oil/gas and cash flow - Significant addition of new associated gas in the concession, which will be included in a new reserve report during the year - Tax rate reduced to 34% for greenfield projects (compared to up to 50% for others), and royalty/tax can be further reduced for projects with secondary recovery - JV period extended to 2056 - Reserve report for crude oil expected Q3 2026 (in 2–3 weeks from the recording), additional report for gas by year-end/second half of 2026 - KEO Energy has simultaneously committed to a financing agreement of up to USD 350 mill. to PetroUrdaneta for field development, paid in tranches according to the work program - Non-binding LOI with Lionheart Holdings regarding a possible merger of the energy division was not completed within the exclusivity period; the parties jointly decided not to extend it (31. August) - During negotiations with PDVSA, KEO thus included associated gas in the concession — something that, according to David Tomassoni, was not included in the original agreement. He directly links this to the break with Lionheart: "... we're ending the NOI, the binding NOI with Lionheart because adding the gas to our commercial agreement, so we increased them a lot of our valuations. So our valuation prospects were now [mis]aligned. So we need to protect our investors, and that's the reason why we decide probably to opt for a direct listing and a spin off from the Nasdaq in Sweden." - The CEO of the energy division has also pointed to general interest in the field. When Harald asked how the rest of the Venezuela acquisition would be financed and if there was a risk of a new capital raise, David Tomassoni replied: "No. We are okay with the capital. So at this stage, we have the capital needed to conclude the 40% purchase. And, you know, we are we've been bombarded, if I can say the word, to people that want to invest and entities to allow us to get where we want to be in terms of production of crude and gas." Financial figures - Net result in the quarter: -48 085 TUSD, mainly driven by non-cash one-off items related to the acquisition: share-based compensation (-18 337) Financial figures - Net result in the quarter: -48 085 TUSD, mainly driven by non-cash one-off items related to the acquisition: share-based compensation (-18 337) and share-settled costs (-25 739) Roadmap ahead (from the presentation) - Fintech: relaunch of Workeo Brasil in H2 2026, US listing of the fintech business in 2027 - Energy: offtake agreements with PDVSA in H2 2026, reserve report (oil/crude oil) in Q3 2026, additional reserve report (gas) in H2 2026, spin-off and US listing of the energy division in H2 2026/H1 2027 Additional details from Q&A (David Tomassoni) - The reserve reports are two separate reports: crude oil is expected to be ready in 2–3 weeks from the recording, the gas report will come by year-end - The company is actively looking for the best structure/package for the US listing of the energy division — is in talks with major American banks to evaluate the alternatives - Estimates 6–7 months until a US listing is in place - Envisions a cross-/dual-listing (maintains stock exchange listing in Sweden while being listed in the US), to give American investors the opportunity to trade the stock directly Overall assessment Very good progress, especially in Venezuela
·17.9.The Petrourdaneta oil project is a joint venture together with the state-owned oil company PDVSA, which holds oil fields in the Maracaibo Basin in the northwestern part of the country. The oil in Venezuela is known to be heavy oil, but these oil fields, according to the company, have an oil that more closely resembles North Sea oil. Keo Energy shall, through subsidiaries, be the operator with a 24 percent stake that will be increased to 40 percent, while PDVSA has 60 percent.
- ·16.9.Somewhat interesting after the comments below that the share price fell by nearly 1 % so what is correct about this stock we will have to consider further. Personally, I believe a spin-off or rather that the company is split into two for us shareholders could possibly be positive. The overarching question, above all others, will be how the liquid assets will be distributed, debt allocated between the companies etc,
·16.9. · MuokattuAt 16:35, Halvar Idland has a presentation of Keoc at the Pareto conference. Pareto has a price target of 20 on Keoc. Valuation range of SEK 14.0-20.5 per share Following the PDVSA agreement, reserve reports are the near-term triggers, while execution risk persists across both fintech and energy assets. Lower KEO estimates are partly offset by a higher PetroUrdaneta valuation following further de-risking. We set our valuation range to SEK 14.0-20.5 (14.9-21.6) per share, equal to 23.0x-33.7x adj. FY28E P/E. The analysis came before the Mastercard deal.These are busy days at Keo Capital. The company recently entered into a letter of intent to spin off its oil business and take it to Nasdaq through a merger with Lionheart Holdings, as Financial Times first reported. Major shareholders have also proposed replacing three board members.- ·15.9.I think the main focus for us who invest in the company is the story about the oil in Venezuela, here is a brief overview of what it might be worth, but the horizon is relatively long and it is indeed a high-risk project. One gets the impression that everything is a scam and there is no progress. That's why I'm sharing this from e24 and some info from other reports: Today's valuation: At a share price of SEK 7.03, the entire KEO Capital (fintech + energy) is valued at ~SEK 2.48 bn. (~USD 255-260 mn.), based on 352.7 mn. outstanding shares. The adjusted net financial position is ~USD 108.5 mn. (of which only ~48 mn. is free cash balance) – so the market prices in around USD 150 mn. in "story value" beyond pure cash balance, for both the fintech platform and the Venezuela optionality combined. Scenario calculation for the Venezuela share (40 %, not yet completed): KEO's share corresponds to ~324 mn. 2P barrels – but these are only PDVSA's own, not independently verified figures. What they have actually paid now: ~$0.3-0.4/barrel → ~$100-130 mn. Lionheart indication (collapsed SPAC deal, not binding): $400 mn. for the entire energy segment If everything succeeds and the reserves are priced like a stable, producing company (à la PetroNor, Oslo Børs, ~$7-8/barrel): ~$2.4 bn. A little positive from the E24 case about the Venezuela project: Idland says suppliers have already been on site inspection of the fields, and that they are negotiating equipment/service agreements now – i.e., something concrete on the ground, not just plans. He also confirms that investments are happening gradually: "in the early phase, the need is significantly smaller" than the full 350 mn. dollars. The agreements are also said to be registered with a French arbitration court, which provides some legal protection beyond Venezuelan courts. When can we expect more news about the oil side? Closing of the 40 % share: agreed deadline no later than November 30, 2026 (possibility of 30 days extension) Independent reserve report: expected in 2nd half 2026 (no exact date given) – probably the most important single event, since it's the first time the figures are checked by anyone other than PDVSA itself Q3 report November 24 will probably provide a status update So: enormous theoretical upside (20x+ spread between scenarios), real signs of operational progress, but still no concrete answers on the political/sanction-related risk. Pay special attention to the reserve report and the closing deadline in November.
Yllä olevat kommentit ovat peräisin Nordnetin sosiaalisen verkoston Nordnet Socialin käyttäjiltä, eikä niitä ole muokattu eikä Nordnet ole tarkastanut niitä etukäteen. Ne eivät tarkoita, että Nordnet tarjoaisi sijoitusneuvoja tai sijoitussuosituksia. Nordnet ei ota vastuuta kommenteista.
Välittäjätilasto
Dataa ei löytynyt
2026 Q2 - tulosraportti
20 päivää sitten
‧29 min
Tämän sivun uutiset ja/tai sijoitussuositukset tai otteet niistä sekä niihin liittyvät linkit ovat mainitun tahon tuottamia ja toimittamia. Nordnet ei ole osallistunut materiaalin laatimiseen, eikä ole tarkistanut sen sisältöä tai tehnyt sisältöön muutoksia. Lue lisää sijoitussuosituksista.
Foorumi
Liity keskusteluun Nordnet Socialissa
Kirjaudu
- ·16 t sitten · MuokattuSummary of Q2 2026 earnings call — KEO Capital / KEO Energy Fintech: operational figures - Active customers: 61 at the end of June, average customer count up 16% quarter over quarter and 18% year over year - Outstanding portfolio: MUSD 50.7 at quarter-end, average MUSD 45.6 in the quarter (up 88% year over year, but down 8% quarter over quarter — explained as a seasonal effect early in the quarter with recovery in May/June) - Total Payment Volume (TPV): MUSD 51.4 in the quarter (+39% year over year, +19% quarter over quarter), MUSD 94.5 for 1H 2026, MUSD 180 last twelve months - Revenue: MUSD 3.0 for 1H 2026, MUSD 5.0 last twelve months, take rate of 3.1% of TPV - Canada launched in July/Q3 2026, with a revolving credit facility of CAD 50 mill. from a Canadian bank (~6.5% interest p.a., 80% advance rate) - Amex agreement in Mexico renewed, now with both USD and Mexican pesos as approved currencies - Brazil expected to be launched in the second half of 2026 Energy: Venezuela - Stake in PetroUrdaneta increased from 24% to 40% via definitive agreement with Novonor (purchase price USD 37.5 mill. for the remaining 16%, paid in three installments: 5.35 mill. upon signing, 22.15 mill. upon closing expected 30. November, 10 mill. deferred) - The company is also negotiating for an additional 9.9% stake, which would take the total stake up to 49.9% (mentioned by Tomassoni, not yet confirmed in written material) - Operating agreements signed with PDVSA 28. August, which secures KEO Energy control over operations, commercialization of oil/gas and cash flow - Significant addition of new associated gas in the concession, which will be included in a new reserve report during the year - Tax rate reduced to 34% for greenfield projects (compared to up to 50% for others), and royalty/tax can be further reduced for projects with secondary recovery - JV period extended to 2056 - Reserve report for crude oil expected Q3 2026 (in 2–3 weeks from the recording), additional report for gas by year-end/second half of 2026 - KEO Energy has simultaneously committed to a financing agreement of up to USD 350 mill. to PetroUrdaneta for field development, paid in tranches according to the work program - Non-binding LOI with Lionheart Holdings regarding a possible merger of the energy division was not completed within the exclusivity period; the parties jointly decided not to extend it (31. August) - During negotiations with PDVSA, KEO thus included associated gas in the concession — something that, according to David Tomassoni, was not included in the original agreement. He directly links this to the break with Lionheart: "... we're ending the NOI, the binding NOI with Lionheart because adding the gas to our commercial agreement, so we increased them a lot of our valuations. So our valuation prospects were now [mis]aligned. So we need to protect our investors, and that's the reason why we decide probably to opt for a direct listing and a spin off from the Nasdaq in Sweden." - The CEO of the energy division has also pointed to general interest in the field. When Harald asked how the rest of the Venezuela acquisition would be financed and if there was a risk of a new capital raise, David Tomassoni replied: "No. We are okay with the capital. So at this stage, we have the capital needed to conclude the 40% purchase. And, you know, we are we've been bombarded, if I can say the word, to people that want to invest and entities to allow us to get where we want to be in terms of production of crude and gas." Financial figures - Net result in the quarter: -48 085 TUSD, mainly driven by non-cash one-off items related to the acquisition: share-based compensation (-18 337) Financial figures - Net result in the quarter: -48 085 TUSD, mainly driven by non-cash one-off items related to the acquisition: share-based compensation (-18 337) and share-settled costs (-25 739) Roadmap ahead (from the presentation) - Fintech: relaunch of Workeo Brasil in H2 2026, US listing of the fintech business in 2027 - Energy: offtake agreements with PDVSA in H2 2026, reserve report (oil/crude oil) in Q3 2026, additional reserve report (gas) in H2 2026, spin-off and US listing of the energy division in H2 2026/H1 2027 Additional details from Q&A (David Tomassoni) - The reserve reports are two separate reports: crude oil is expected to be ready in 2–3 weeks from the recording, the gas report will come by year-end - The company is actively looking for the best structure/package for the US listing of the energy division — is in talks with major American banks to evaluate the alternatives - Estimates 6–7 months until a US listing is in place - Envisions a cross-/dual-listing (maintains stock exchange listing in Sweden while being listed in the US), to give American investors the opportunity to trade the stock directly Overall assessment Very good progress, especially in Venezuela
- ·17.9.The Petrourdaneta oil project is a joint venture together with the state-owned oil company PDVSA, which holds oil fields in the Maracaibo Basin in the northwestern part of the country. The oil in Venezuela is known to be heavy oil, but these oil fields, according to the company, have an oil that more closely resembles North Sea oil. Keo Energy shall, through subsidiaries, be the operator with a 24 percent stake that will be increased to 40 percent, while PDVSA has 60 percent.
- ·16.9.Somewhat interesting after the comments below that the share price fell by nearly 1 % so what is correct about this stock we will have to consider further. Personally, I believe a spin-off or rather that the company is split into two for us shareholders could possibly be positive. The overarching question, above all others, will be how the liquid assets will be distributed, debt allocated between the companies etc,
- ·16.9. · MuokattuAt 16:35, Halvar Idland has a presentation of Keoc at the Pareto conference. Pareto has a price target of 20 on Keoc. Valuation range of SEK 14.0-20.5 per share Following the PDVSA agreement, reserve reports are the near-term triggers, while execution risk persists across both fintech and energy assets. Lower KEO estimates are partly offset by a higher PetroUrdaneta valuation following further de-risking. We set our valuation range to SEK 14.0-20.5 (14.9-21.6) per share, equal to 23.0x-33.7x adj. FY28E P/E. The analysis came before the Mastercard deal.These are busy days at Keo Capital. The company recently entered into a letter of intent to spin off its oil business and take it to Nasdaq through a merger with Lionheart Holdings, as Financial Times first reported. Major shareholders have also proposed replacing three board members.
- ·15.9.I think the main focus for us who invest in the company is the story about the oil in Venezuela, here is a brief overview of what it might be worth, but the horizon is relatively long and it is indeed a high-risk project. One gets the impression that everything is a scam and there is no progress. That's why I'm sharing this from e24 and some info from other reports: Today's valuation: At a share price of SEK 7.03, the entire KEO Capital (fintech + energy) is valued at ~SEK 2.48 bn. (~USD 255-260 mn.), based on 352.7 mn. outstanding shares. The adjusted net financial position is ~USD 108.5 mn. (of which only ~48 mn. is free cash balance) – so the market prices in around USD 150 mn. in "story value" beyond pure cash balance, for both the fintech platform and the Venezuela optionality combined. Scenario calculation for the Venezuela share (40 %, not yet completed): KEO's share corresponds to ~324 mn. 2P barrels – but these are only PDVSA's own, not independently verified figures. What they have actually paid now: ~$0.3-0.4/barrel → ~$100-130 mn. Lionheart indication (collapsed SPAC deal, not binding): $400 mn. for the entire energy segment If everything succeeds and the reserves are priced like a stable, producing company (à la PetroNor, Oslo Børs, ~$7-8/barrel): ~$2.4 bn. A little positive from the E24 case about the Venezuela project: Idland says suppliers have already been on site inspection of the fields, and that they are negotiating equipment/service agreements now – i.e., something concrete on the ground, not just plans. He also confirms that investments are happening gradually: "in the early phase, the need is significantly smaller" than the full 350 mn. dollars. The agreements are also said to be registered with a French arbitration court, which provides some legal protection beyond Venezuelan courts. When can we expect more news about the oil side? Closing of the 40 % share: agreed deadline no later than November 30, 2026 (possibility of 30 days extension) Independent reserve report: expected in 2nd half 2026 (no exact date given) – probably the most important single event, since it's the first time the figures are checked by anyone other than PDVSA itself Q3 report November 24 will probably provide a status update So: enormous theoretical upside (20x+ spread between scenarios), real signs of operational progress, but still no concrete answers on the political/sanction-related risk. Pay special attention to the reserve report and the closing deadline in November.
Yllä olevat kommentit ovat peräisin Nordnetin sosiaalisen verkoston Nordnet Socialin käyttäjiltä, eikä niitä ole muokattu eikä Nordnet ole tarkastanut niitä etukäteen. Ne eivät tarkoita, että Nordnet tarjoaisi sijoitusneuvoja tai sijoitussuosituksia. Nordnet ei ota vastuuta kommenteista.
Tarjoustasot
Määrä
Osto
-
Myynti
Määrä
-
Viimeisimmät kaupat
| Aika | Hinta | Määrä | Ostaja | Myyjä |
|---|---|---|---|---|
| 652 | - | - | ||
| 816 | - | - | ||
| 1 108 | - | - | ||
| 1 497 | - | - | ||
| 239 | - | - |
Huomioi, että vaikka osakkeisiin säästäminen on pitkällä aikavälillä tuottanut hyvin, tulevasta tuotosta ei ole takeita. On olemassa riski, että et saa sijoittamiasi varoja takaisin.
Rahastot ja ETF:t, joilla on osaketta
Mikään rahasto ei ilmoita osaketta kymmenen suurimman omistuksensa joukossa.
Asiakkaat katsoivat myös
Yhtiötapahtumat
Datan lähde: Quartr| Seuraava tapahtuma | |
|---|---|
2026 Q3 - tulosraportti 24.11. |
| Menneet tapahtumat | ||
|---|---|---|
2026 Q2 - tulosraportti 1.9. | ||
2026 Q1 - tulosraportti 26.5. | ||
2025 Q4 - tulosraportti 24.2. | ||
2025 Q3 - tulosraportti 18.11.2025 | ||
2025 Q2 - tulosraportti 19.8.2025 |
Välittäjätilasto
Dataa ei löytynyt
2026 Q2 - tulosraportti
20 päivää sitten
‧29 min
Tämän sivun uutiset ja/tai sijoitussuositukset tai otteet niistä sekä niihin liittyvät linkit ovat mainitun tahon tuottamia ja toimittamia. Nordnet ei ole osallistunut materiaalin laatimiseen, eikä ole tarkistanut sen sisältöä tai tehnyt sisältöön muutoksia. Lue lisää sijoitussuosituksista.
Yhtiötapahtumat
Datan lähde: Quartr| Seuraava tapahtuma | |
|---|---|
2026 Q3 - tulosraportti 24.11. |
| Menneet tapahtumat | ||
|---|---|---|
2026 Q2 - tulosraportti 1.9. | ||
2026 Q1 - tulosraportti 26.5. | ||
2025 Q4 - tulosraportti 24.2. | ||
2025 Q3 - tulosraportti 18.11.2025 | ||
2025 Q2 - tulosraportti 19.8.2025 |
Foorumi
Liity keskusteluun Nordnet Socialissa
Kirjaudu
- ·16 t sitten · MuokattuSummary of Q2 2026 earnings call — KEO Capital / KEO Energy Fintech: operational figures - Active customers: 61 at the end of June, average customer count up 16% quarter over quarter and 18% year over year - Outstanding portfolio: MUSD 50.7 at quarter-end, average MUSD 45.6 in the quarter (up 88% year over year, but down 8% quarter over quarter — explained as a seasonal effect early in the quarter with recovery in May/June) - Total Payment Volume (TPV): MUSD 51.4 in the quarter (+39% year over year, +19% quarter over quarter), MUSD 94.5 for 1H 2026, MUSD 180 last twelve months - Revenue: MUSD 3.0 for 1H 2026, MUSD 5.0 last twelve months, take rate of 3.1% of TPV - Canada launched in July/Q3 2026, with a revolving credit facility of CAD 50 mill. from a Canadian bank (~6.5% interest p.a., 80% advance rate) - Amex agreement in Mexico renewed, now with both USD and Mexican pesos as approved currencies - Brazil expected to be launched in the second half of 2026 Energy: Venezuela - Stake in PetroUrdaneta increased from 24% to 40% via definitive agreement with Novonor (purchase price USD 37.5 mill. for the remaining 16%, paid in three installments: 5.35 mill. upon signing, 22.15 mill. upon closing expected 30. November, 10 mill. deferred) - The company is also negotiating for an additional 9.9% stake, which would take the total stake up to 49.9% (mentioned by Tomassoni, not yet confirmed in written material) - Operating agreements signed with PDVSA 28. August, which secures KEO Energy control over operations, commercialization of oil/gas and cash flow - Significant addition of new associated gas in the concession, which will be included in a new reserve report during the year - Tax rate reduced to 34% for greenfield projects (compared to up to 50% for others), and royalty/tax can be further reduced for projects with secondary recovery - JV period extended to 2056 - Reserve report for crude oil expected Q3 2026 (in 2–3 weeks from the recording), additional report for gas by year-end/second half of 2026 - KEO Energy has simultaneously committed to a financing agreement of up to USD 350 mill. to PetroUrdaneta for field development, paid in tranches according to the work program - Non-binding LOI with Lionheart Holdings regarding a possible merger of the energy division was not completed within the exclusivity period; the parties jointly decided not to extend it (31. August) - During negotiations with PDVSA, KEO thus included associated gas in the concession — something that, according to David Tomassoni, was not included in the original agreement. He directly links this to the break with Lionheart: "... we're ending the NOI, the binding NOI with Lionheart because adding the gas to our commercial agreement, so we increased them a lot of our valuations. So our valuation prospects were now [mis]aligned. So we need to protect our investors, and that's the reason why we decide probably to opt for a direct listing and a spin off from the Nasdaq in Sweden." - The CEO of the energy division has also pointed to general interest in the field. When Harald asked how the rest of the Venezuela acquisition would be financed and if there was a risk of a new capital raise, David Tomassoni replied: "No. We are okay with the capital. So at this stage, we have the capital needed to conclude the 40% purchase. And, you know, we are we've been bombarded, if I can say the word, to people that want to invest and entities to allow us to get where we want to be in terms of production of crude and gas." Financial figures - Net result in the quarter: -48 085 TUSD, mainly driven by non-cash one-off items related to the acquisition: share-based compensation (-18 337) Financial figures - Net result in the quarter: -48 085 TUSD, mainly driven by non-cash one-off items related to the acquisition: share-based compensation (-18 337) and share-settled costs (-25 739) Roadmap ahead (from the presentation) - Fintech: relaunch of Workeo Brasil in H2 2026, US listing of the fintech business in 2027 - Energy: offtake agreements with PDVSA in H2 2026, reserve report (oil/crude oil) in Q3 2026, additional reserve report (gas) in H2 2026, spin-off and US listing of the energy division in H2 2026/H1 2027 Additional details from Q&A (David Tomassoni) - The reserve reports are two separate reports: crude oil is expected to be ready in 2–3 weeks from the recording, the gas report will come by year-end - The company is actively looking for the best structure/package for the US listing of the energy division — is in talks with major American banks to evaluate the alternatives - Estimates 6–7 months until a US listing is in place - Envisions a cross-/dual-listing (maintains stock exchange listing in Sweden while being listed in the US), to give American investors the opportunity to trade the stock directly Overall assessment Very good progress, especially in Venezuela
- ·17.9.The Petrourdaneta oil project is a joint venture together with the state-owned oil company PDVSA, which holds oil fields in the Maracaibo Basin in the northwestern part of the country. The oil in Venezuela is known to be heavy oil, but these oil fields, according to the company, have an oil that more closely resembles North Sea oil. Keo Energy shall, through subsidiaries, be the operator with a 24 percent stake that will be increased to 40 percent, while PDVSA has 60 percent.
- ·16.9.Somewhat interesting after the comments below that the share price fell by nearly 1 % so what is correct about this stock we will have to consider further. Personally, I believe a spin-off or rather that the company is split into two for us shareholders could possibly be positive. The overarching question, above all others, will be how the liquid assets will be distributed, debt allocated between the companies etc,
- ·16.9. · MuokattuAt 16:35, Halvar Idland has a presentation of Keoc at the Pareto conference. Pareto has a price target of 20 on Keoc. Valuation range of SEK 14.0-20.5 per share Following the PDVSA agreement, reserve reports are the near-term triggers, while execution risk persists across both fintech and energy assets. Lower KEO estimates are partly offset by a higher PetroUrdaneta valuation following further de-risking. We set our valuation range to SEK 14.0-20.5 (14.9-21.6) per share, equal to 23.0x-33.7x adj. FY28E P/E. The analysis came before the Mastercard deal.These are busy days at Keo Capital. The company recently entered into a letter of intent to spin off its oil business and take it to Nasdaq through a merger with Lionheart Holdings, as Financial Times first reported. Major shareholders have also proposed replacing three board members.
- ·15.9.I think the main focus for us who invest in the company is the story about the oil in Venezuela, here is a brief overview of what it might be worth, but the horizon is relatively long and it is indeed a high-risk project. One gets the impression that everything is a scam and there is no progress. That's why I'm sharing this from e24 and some info from other reports: Today's valuation: At a share price of SEK 7.03, the entire KEO Capital (fintech + energy) is valued at ~SEK 2.48 bn. (~USD 255-260 mn.), based on 352.7 mn. outstanding shares. The adjusted net financial position is ~USD 108.5 mn. (of which only ~48 mn. is free cash balance) – so the market prices in around USD 150 mn. in "story value" beyond pure cash balance, for both the fintech platform and the Venezuela optionality combined. Scenario calculation for the Venezuela share (40 %, not yet completed): KEO's share corresponds to ~324 mn. 2P barrels – but these are only PDVSA's own, not independently verified figures. What they have actually paid now: ~$0.3-0.4/barrel → ~$100-130 mn. Lionheart indication (collapsed SPAC deal, not binding): $400 mn. for the entire energy segment If everything succeeds and the reserves are priced like a stable, producing company (à la PetroNor, Oslo Børs, ~$7-8/barrel): ~$2.4 bn. A little positive from the E24 case about the Venezuela project: Idland says suppliers have already been on site inspection of the fields, and that they are negotiating equipment/service agreements now – i.e., something concrete on the ground, not just plans. He also confirms that investments are happening gradually: "in the early phase, the need is significantly smaller" than the full 350 mn. dollars. The agreements are also said to be registered with a French arbitration court, which provides some legal protection beyond Venezuelan courts. When can we expect more news about the oil side? Closing of the 40 % share: agreed deadline no later than November 30, 2026 (possibility of 30 days extension) Independent reserve report: expected in 2nd half 2026 (no exact date given) – probably the most important single event, since it's the first time the figures are checked by anyone other than PDVSA itself Q3 report November 24 will probably provide a status update So: enormous theoretical upside (20x+ spread between scenarios), real signs of operational progress, but still no concrete answers on the political/sanction-related risk. Pay special attention to the reserve report and the closing deadline in November.
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Huomioi, että vaikka osakkeisiin säästäminen on pitkällä aikavälillä tuottanut hyvin, tulevasta tuotosta ei ole takeita. On olemassa riski, että et saa sijoittamiasi varoja takaisin.
Rahastot ja ETF:t, joilla on osaketta
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