But in this present market of receiving fundings San Leon have done well to get the supposed amount they have stated,if proposal is voted for.
is taking time kwidzyn fact,but you and we don't know what is happening,so all your negative hot air is irrevelent at the moment. But in this present market of receiving fundings San Leon have done well to get the supposed amount they have stated. How much has Tosca invested here? Huge amount of millions,Martin Hughes is a winner and if you think he will just hang on without a word you are very mistaken. Rawicz is big as there has not been another discovery like this one for ages in Poland so pnr/san leon are not lying, How do you know siekierki is next? I would say once you have a commercial well, these guys will carry on drilling(yes your right when!!), but drill they will. As Mallorca posted there must be a number of drilling companies wanting the business, why not drill siekierki at the same time.
But remember, SLE is being carried on the drilling costs of the next wells - so if the well was deemed to be the wonder well that everybody (including JB) has been waiting for - then you would have expected a little more progress on this front (with extra capital held by SLE as a bonus - not a necessity), besides if JB had been confident in Rawicz 12 - he would surely be able to calculate that the 35% that SLE had in the field was worth more than some paltry raising of £27million. In which case he would press on regardless using the SLE 35% as insurance (although this would be outside the terms of the current contract). Either way, either PNR are convinced in Rawicz or are not - they cannot form a halfway opinion, and experienced firms with the capital tend to go on either to not prove (and loose all the price on risk) or prove (and increase the price) the field - with the CPR - I suspect much doubt and are considering other ideas on what to do with Rawicz - and obviously that will depend on the conditions of the market if they want to sell on that risk whilsts its still risked - as it may be at the stage where the price on that risk is at its highest - the biggest discovery in 20 years is all marketing information. What I am trying to say, the future pricing structure on developing Rawicz is assymetrical, it may be better from a risk perspective and from the vantage point of a small oil company to try and bank something now, than comitting into a make or break situation - thats why they now want to put Siekierki forward instead. All this production nonsense is not for your benefit but proping up the belief in the asset for potential buyers that may come along.
The company reiterated on a Rns a couple of weeks ago that production would be in 2016 Q1 so it looks as if they are standing by that date. And yes in the past lots of things should have happened and didn't but in this case Pnr have given this production date, not SLE. . . At a quess I'd say that project finance is dependant on SLE getting some cash in its accounts. Probably most posters on this site have been involved in business and know that Banks never lend to people who need money ( unless you are Greek ). After this placing SLE will not need money so the Banks will lend on the Rawicz project. That's the way of the world. . . . 4 wells and infrastructure all done by next march? Don't see that that is an impossible target. The infrastructure will probably be done at the same time as the wells are being drilled. They might even be planning to use two drilling rigs. Not much drilling going on in Poland at present so there are possibly rigs and crews looking for work. . . . I suspect that shortly after July 15th it will be 'all systems go'. . . . . Not long to wait!
a non holder knows what Dennis McKee is thinking!.I think not. Tosca is not going to let anyone snap up san leon that is apparent. How much did UOS pay for the new equipment essentially built for the Polish environment.quarter of a billion!. If proven Gdansk West will be worth $1.5billion.Oisin Fanning May 13.media podcast Soon 62million shares in issue. Just a thought,if san leon do get this going and are successful and sell most of it off. Using nohotair guide at £5billion per 1tcf and Lewino has supposedly 12/18tcf. Say they get £1.5billion and return half of that to shareholders, that's £750m into 62m shares £12 each share, even returning £250million that's over £4 a share. Hyperthetical yes but san leon still have 1.5m acreas in the Baltic and what with Cambrian flowing commercially in the region (looks good for rogity when oil price rises!). Lewino Horizontal – Baltic Basin, Poland Builds on success of vertical well (best single vertical shale frac in Europe), seeks to prove shale commerciality • One of 3 wells drilled by Talisman at no cost to SLE, totalling $70mm spend • Horizontal (1500 m+) is now fully engineered, to prove commerciality of 220,000 acres • Partner sought to execute drill, frac and test in 2015 • Shale acreage in France and Spain (incl. pending) brings net shale acreage to 5.7 million acres - by far the largest shale position in Europe (1.2mm acres in Poland), and at low overhead costs Horizontal multi-frac well now planned, with a good chance of proving up commerciality of this enormous shale gas resource play. UOS maybe used to do the work involved that would be all.In my opinion.
Think Dennis McKee must be thankful that he is a fully fledged non holder - taking shares in SLE would have been a very deep hole that even UOS knew not to dig - in retrospect, he would be better off now and just be able to buy the whole company.
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.