This could be one of the fair valuation stumbling blocks to determining an outright per bbl value on which to base any t/o, apart from the questions over the reality, or otherwise of Blackbeard etc., and what figure to place on that. Something has to be attached to EOR, substantially above the current expected recovery %
I'd go back further than that to the flow test. If that's the case then would be nice if the BoD were to inform the stockholders they are holding privileged information of the end game and should thereby be in a closed period, rather than simply taking advantage of the situation and issuing more stock options to insiders in the interim. The delay in news could be related to their struggles to conclude with DECC an acceptable FDP, perhaps RC's comment at the 2014 AGM refers to it's significance. The fact that options issue continues though would seem to indicate it's not quite an open and shut case for Statoil/Shell. Just wish someone else would step up to the plate, that's the concern that nobody has so far, not even for the SKIP.
A new oil junior, Origo Exploration, has been launched in Stavanger to target opportunities in the Norwegian and UK sectors of the North West Europe Continental Shelf............ The company intends to acquire exploration stakes in the Norwegian and UK sectors through farm-ins, licence rounds and focused M&A activity. ... Turning to the backers, energy-focused private equity firms Barclays Natural Resource Investments (“BNRI”) and Riverstone Holdings will each contribute $200million of funding. Singapore-based investment company Temasek will contribute an additional $125million.""
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