Well you have got a 90% discount to the oil in the ground valuation of a company that says it could be fully funded and ready to get approval from the government to proceed with production in only a few months.
Sound quite unbelievable when you say it out loud - good luck
Just wondering when XER can submit the FDP. The only contractor MOU outstanding now is the driller/rig, after which they will know in principle the main cost parameters to finalise the funding with the lenders, and the plan to complete the FDP.
If as RC has maintained the funding options are known and it's basically a determination of the quantum, once knowing that would they then proceed with the FDP, perhaps having a codicil with the lenders re funds amendment subject to the Autumn budget news. Or, would they wait that budget speech out and submit mid December. DECC won't be concerned about the detailed profitability aspect, just that funding can be demonstrated.
Whatever, it does not seem like any jv partner will show before the FDP is in, one would think in fairness to their proposed partner they would have showed their face and support by now. Unless discreetly Statoil and the NDA's, it's not happened. So if one does plan to come in after the FDP is approved, then the farm in price should also be materially different, perhaps another plus for XEL to get the FDP in asap, on their own.
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