Has it occurred to anyone else that the timing of the anticipated lifespan of Athena well could tie in with Skerryvore coming onstream and that instead of having to wait years to get an FPSO it could just be moved?
I am expecting a RNS in the next week or two saying that PMG have aquired or are making a take over offer! IMO GLA - something is happening behind the scenes just think everything is on the hush hush untill confirmation is in place ......... Watch this space !
Growing global oil demand will create a daily shortfall equating to about 80 times the size of current North Sea output without more investment in production, Royal Dutch Shell boss Ben van Beurden has said.
The gap between supply and demand could grow to 70million barrels per day by 2040, he said, adding: “That’s the equivalent of six times Saudi Arabia’s 2013 production and 80 times the size of today’s UK North Sea production.”
Mr van Beurden was speaking at Shell’s annual general meeting in The Hague.
Hi no wish to appear negative but the holding of Tom Cross as a % of equity has reduced from 21.39% to 19.06% as a result of the placing. The cash flow with the revised FPSO contract has improved but Is probably cash neutral at the present oil price. Still plenty to look forward to onshore Netherlands looking very positive Q4 2015. GLA.
It is noteworthy that TC subscribed for 83.333 shares in theP[lacing which will increase his holding to 18,850,779 shares - 19.06% of the company's enlarged capital. Two other directors also subscribed for shares. Non Exec Philip Dayer for 33,333 and Ryan Stroulger for 20,833. Jointly they subscribed for 137,499 shares at a cost of £164,499. Quite a vote of confidence in the Company
The report was surprisingly upbeat about Athena. It was reported that the net effect new contract for the BMW Athena "was a significant reduction in the field operating costs which increases the cash flow generated from thr field.
They have a substantial war chest already so with the extra funds raised I can only assume that a sizable acquisition is on the cards. I think we will get news sooner rather than later as they must know who they want to takeover. Somewhat overdue I think but probably will turn out to be well worth waiting for.
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