Searcher I think you may have counted the % of the lower figure as being the same as the higher figure, which of course its not.....This is why our high of 40p when it reached 2p had lost 95%...But to get back from there to 40p it would take a colossal 1900%...ar well no prob:
Who are pnr? Jb has left sle with the task of attracting some big oil players IMO and formed a new company designed to slot back in with sle when the time was right. This surely protects us from any takeover short term whilst these assets are maximised. The two companies may morph into one longer term if it all pans out. Jb knows this is hot and has provided the safety net for sle when they needed it well done all. Still not reliant on big named jvs. We can now finance lewino?
by whats sounds these guys are from uae..oil country..to be that big you gotta be in the business..oil men!!..they know the business..JB knows the plays like no other..some great contract companies waiting for works..UOS/halli/BH/etc etc..links
Just got back from a mini vacation and getting up to speed on the news. This is good news imo, would have liked a bigger piece of the pie but upon further reading of the RNS I can see why we get the 35% This part stuck out to me "If PNR decides to proceed with the development of either or both assets after the above well work, it will include San Leon in seeking project finance"
This means to move these projects forward PNR will get financing that includes SLE's portion as well, our amount of borrowing will be on our books but PNR will organize and get all the financing. GREAT!!!
Although the RNS doesn't specifically say anything about the main dolomite reef nor the carboniferous I can only assume that this is included and with the same project financing mentioned above it looks like the upside here is all taken care of by PNR and we just sit back and let them do all the work and take care of all financing arrangements. This will take a hell of a lot of future work off Oisin's plate, especially when it comes to project financing something as bit as the two unconventionals.
If indeed John has the big backers that are rumoured on the boards I don't see future project financing being an issue.
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