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Thanks fish :-) VGLA
Rich T... oh he’s very much still here... he/she/it once slipped up and posted from another account... and I know that he knows that I know which one... which is why he’s never friendly with me... or his old third account either, but that old ‘bird’ had long flown the nest....
In any case we will have to continue to wait for q2 an FO ann. Not surprising to to anyone I am sure. Da, Da come on Dave.....................
Sageman,
I get that you're reassuring us and sharing your experience of trying to finalise a deal in spite of the attempts by lawyers on both sides. I commend you for that.
Perhaps I wasn't clear but I was more struck by the irony of your assertions that your own deals would be completed by the following week or end of month. You were unlucky with the first two forecasts but as I said, I wish you luck with the third and us all with our own deal. Let us know how (or when!) you get on. Good luck.
We have not yet seen reinstatement/reincarnation(s) of our '128064 let's have a smalls cup of rich tea' [for balance] type of poster. So, perhaps news is not yet quite ready. Odd how these things work :-/ VGLA
Bridgedogg1 - I think your last paragraph is right on the button. Very good luck to you in this and, as ever, VGLA
A pillow, I have repeated the message because it is true and ongoing. Also there are so many posts here and they get missed. People expect lights camera action. We get lights , lawyer, lawyer, sub clause, warranties,.....for the layperson it is incomprehensible that deals can take so long. But the bigger the deal the more onerous the small print.
Highlights
· Farminee internal approvals complete, including Board sign-off
· Farm-out deal now subject to:
o execution of closing documents
o standard conditions precedent, mainly related to transfer of working interests
· Well planning and permitting required for 2020 drilling now ramping up
Can't too far off now....fingers crossed
DNR endeavors to assist applicants in meeting their goals associated with their transaction timeline. Statutory, regulatory, or logistical requirements, and workload may constrain the agency, including, for example, unit operator transfer timing requirements, time required to evaluate the financial and risk aspects of the transfer and to determine any financial assurances that may be required, and effective date options for assignments (11 AAC 82.605 and lease provisions).
Purchase and sale agreement; may be held confidential under AS 38.05.035(a)(8) if applicable and requested by the applicant.
I do not believe DNR (DOG) will be anything but helpful provided the deal does not impact negatively on the state, if indeed the result of the deal is an exploration programme in winter 2019-20 why should they not want to assist.
You can be certain the parties to any deal will have requested confidentiality until the deal is done.
Once WI transfer is agreed at higher level the administration should not hold up process, land records and legal description are all recorded, it is not the same as for a new lease sales were subsequent to the bid being accepted the LR and LD have to be examined and defined.
If indeed DOG only sits fortnightly ( I am unsure) it would little practical difference to timings.
Ultimately we can all make observations, some based on knowledge either O & G or other fields of commerce but we just do not know exactly what is happening and where any delay (bottleneck) is occurring, could occur or if indeed there is one at all.
Best of luck all and stay appy.
IMO the legal team of a large oil company will have a ‘template’ farm out agreement. Stick in 88e, % and $$$ in the blanks. 88e representatives go through it with a fine tooth-comb. The authorities will also want to look at it to ensure future field completion costs are covered.
Could it be politically sensitive??? Chinese investment may get additional scrutiny??
It’s certainly going to be the most interesting rns we have seen, perhaps since IW1 results. Should provide plenty of discussion points. Feels like the board is stuck in stasis at the moment. All we can do is speculate, which can be entertaining at times.
Sageman you said much the same thing on 3rd June and exactly the same thing on 4th July :-) I hope all our deals come to mutually profitable fruition. GLA.
SM - "Completion due December 2018" ? Are you sure you're not involved with our 88E deal. LOL
Seriously though - thanks for the reassurance.
Thanks Sageman. Answers my question on the other thread. We could therefore expect a completion of the deal any time from now until the end of the year. And that could still be without either party wavering but entirely down to red tape.
I am involved in a deal. Heads of Terms were August 2018. Completion due December 2018. Deal still not signed but will be next week. At no stage has either of the parties wavered but the red tape has been a nightmare. I know of numerous similar situations. The FO here will be no different it is just how it is with these types of deals especially if the top legal firms are involved. None of us can do a thing about it so however frustrating it is you may as well just sit back and be patient.
Quick heads up to say hello, and good luck to everyone.... as time passes, no news is good news....
From all of those that bought in on information, through to all of those that followed in with Aberdeenscam ... to those that joined the party more recently ... I still believe.
:-)
DW keeps a tight rein on costs - so his CFO probably had the crunched numbers by the 2nd week. The date of release for QR is probably dependent on other events. If the FO is coming first then we should get it very very soon. If last RNS is anything to go by, I thought we'd have had it already. Still time to get it befòre the QR but only a few days. If it were me , I'd go for 1 week between them to sustain an upward trend. Not sure if the sequence is very important as long as they're not too far apart.
Phrontist, IBM have very big computers, Dave has a Sinclair ZX80.
how many staff do IBM have? how many staff do 88E have?
hopefully 88E staff are fully focused elsewhere.
As long as Q2 report hits ASX before month end we are OK :-)
Have a great weekend.
2019 Q1 Report was released on 18 April 2019.
So we can expect a bumper Q2 Report this coming week. Highlights / focus:
Conventional FO - stage of contract negotiation (complete????)
Unconventional FO - is it released for FO Contract start of negotiations?
Yukon Gold - Inversion processing (interpretation and resource evaluation) should be complete
Western Blocks - what plans does 88E have with this Project?
A book could be written on the possibilities and variations.
We wait with abated breath!
Phrontist
Sorry:
IBM have Annual Sales of $80billion yet release 2019 Q2 Results on 18 July 2019.
88E have Annual Sales of $0 yet 2019 Q2 Results have not yet appeared.
Phrontist
IBM have annual sales of $80billion yet release Q2 Results on 18 June.
88E have annual sales of $0 and Q2 Results not appeared.
Phrontist