Blackwatch. Re OGA. Bentley is expressly identifed and placed squarely at the forefront of the OGA opportunity matrix in its report 'OGA call to action: six month on: Timeline/urgency = Q4 2015 and relative value at stake = signficant to high. The OGA states that its opportunity matrix identifes its most urgent commercial facilitation priorities "in order to help focus collective efforts, some of which are designed to tackle immediate risks whilst others WILL HELP MAKE SURE OPPORTUNITIES ARE REALISED". I don't know about you (or others) but it sounds reasonably concrete to me.
One might have thought any agreement between the Saudis and the Russians to drop 1mmbbls/day each production would give at least a $10-15/bbl immediate upside to the poo, yet still not bring the price of oil close to that of many shale and deepwater project bbl costs.
Whatever the end result Saudi morons with money to burn, what's this going to cost their country in the end the way they have tried to play this game, with the uncertainty it's sure to generate in the future also over supply and cost of crude for the world. Unmanaged madness.
Dang, it's just water under the bridge now but it's still hard to credit just what a c**k up XEL made of that ON well and not knowing then that DECC would still require a full EWT. What was on their tiny minds that persuaded them also not to proceed with phase 1b but drop the RN, then with RBL funding in place drop that in turn for this unfunded then clearly, big boy plan.
just because he may not do the same is no reason not to be fair. I don't enjoy coming here and picking holes in what he writes, but I do so to try and be objective. Sometimes I get a bit carried away, but it's all the spirit of trying to understand where we currently stand with Xcite and not to lose sight of the realities on the ground, no matter what the potential returns might be one day.
'Q3 results showed a net loss of $0.3m to 30 September, but that is down from $4.3m in Q3 last year. Its cash balance is now $27.9m, slipping from $34m at the end of June, so it still has some breathing space. What it needs is a partner, but suitors are in short supply in today’s market. Xcite says it has completed technical and economic due diligence with a potential partner, which has now moved towards commercial discussions, but nothing has been firmed up yet. Xcite would be risky at the best of times, and these certainly aren’t the best of times.'
Jobsworths. If they act in any way similar to DECC and the 2011 draft FDP kiss this goodbye. Surely though after all this time, multiple meetings between the various parties there's not much left even they can vacillate about.
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