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It shows how quickly this can move upwards on just a handful of retail investors taking a position today.
News soon on rig - if January spud then this will rerate, it will have two months to do so to end Jan and drill finalised, with PSA licence details and SMP decision expected in that period also to add impetus.
Interesting that JB announced the rig news the way he did in the last RNS, he could have justifiably waited until it was confirmed either way as Jan or end Mar.
It could be that he knows with sufficient confidence already, and the end March issue is a very remote possibility from his discussions with SFP, it just needs the final formal confirmation of their intent before Nov 30th.
The RNS timing of upto two weeks for a decision allows some time to consider investment strategy for II and PI.
Invest when drill is confirmed for Jan could be decided in this period, with the arrangements made to take a position on confirmed news.
The Term lending agreement offtaker company name will be known to the II JB is talking with, this International oil marketing company confidence to supply the RBL would give II more confidence to invest.
Equally:
"James Berwick, CEO, said, "We welcome the opportunity to secure this offtake and prepayment financing for the development of Tilapia, which, in the success case at TLP-103C-ST, avoids the need for further equity financing and subsequent dilution for shareholders as we expand the production capacity of the site. We are working hard towards finalising definitive agreements that can be signed after TLP-103C-ST has been successfully drilled."
"Working hard towards finalising definitive agreements "
That sense of urgency in the RBL legal agreements preparation ongoing doesn't sound like a drill in April, but one going ahead in 6 weeks.
Finished blue so a good day.
GLA
Good news is on the way and shareholders have definitely earned it. Expect rig to be on site by January.
Now at 2.6
Ask not at 2.6
I guess news leaked on rig being available??
GLA