George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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Star - well done for that addendum on Suriname - Koot had a smile on his face like a CHESHire Cat after a bowl of cream on the video announcing that deal - I believe Koot's grandparents spent many years out there and he's got more passion for their recipes than Nigella!
No surprise that the final deal you've detailed is akin to going Dutch on a first date ( although I doubt anyone's tried that with Nigella ! ) .
ooops. In my news list updated this morning I keep forgetting to add Suriname. Refer to update RNS from just over 1 year ago. BPC will get a percentage of all its back-costs and production sharing. https://www.investegate.co.uk/columbus-energy-res--cerp-/rns/new-country-entry---weg-naar-zee-block--suriname/201910040700037433O/ . Perhaps this is one of the 'imminent news' items we are waiting an update on. I'm liking ex-CERP assets more and more.
27. 'M' Suriname. JV with Staatsolie. 24 million boe STOIIP
Starchild
https://www.lse.co.uk/profiles/starchild/
Between now and year-end, Percy-1 and ex-CERP related news is expected. IMHO those marked ‘S’ could have some impact and ‘M’ may have a MAJOR impact to SP.
Expected news
1. ‘S’ Legacy admin. Licensing updates Bahamas Gov.
2. ‘S’ Admin. Bahamas Gov sign off of the few EA issues outstanding, IF any.
3. ‘S’ Merger admin: Heritage and Staatsolie Suriname consent to the merger without exercising certain rights.
4. ‘M’ Competent person’s report: An audit of BPC's probable reserves.
5.a ‘M’ Soon after 15 November: has the £1.5m Bizzell CLN @ 2.5p been exercised? Why?
5.b ‘M’ Soon after 1 December: update for +/- $10m Stena JV option at the 10% asset or share level.
5.c ‘M’ Reserve based lending/asset mortgage based on CPR ? (News may be delayed until Jan/Feb. See points 22-24)
6. ‘M Expert opinions from Proactive, Shore Capital, Investec Bank and others on SP / Market-cap leading to spud, and if oil found. Investec purportedly stated 6p pre-spud.
7. ‘M‘ The Stena IceMax ‘is on its way……crew safe.’
8. ‘S’ ‘The Stena IceMax spudded yesterday at hh:mm local time….crew still safe.’
9. ‘MMM’ Initial interim spud updates (news may be delayed until January).
Possible or hoped for news
12. ‘MMM’ Major Oil company (or 3rd party supplier such as Haliburton) JV/farm-in. Must pay-to-play with a substantial contribution to actual c$140m (and virtual c$500m) spent until 1Q 2021.
13. ‘S’ IreneK sectioned for shorting BPC using CFDs. Her daily negativity on this BB will cease.
Ex-CERP related news which may affect the first 0.5p (first £20m market cap) of the BPC SP. Some points, courtesy of LGO-fan/in4cedros and others.
20. ‘S’ Possible deal done with Predator (PRD) for $2-$4m. (lapsed, but may materialise in future)
21. ’S’ New Contract for Goudron with better terms.
22. ‘M’ Test results from Saffron 1 (MC), and turning this into a producer.
23. ‘M’ Saffron 2 drilling updates. (CPR point 4 re-done?.... leading to RBL point 5.c and no CLN?)
24. ‘S’ Successful CO2-project.
25. ‘S’ CERP 2019 financial update. Markets already expect this to be down-beat, but H2 2020 update in same RNS, likely up-beat.
26. ‘S’ Spanish gov to refund $1m for something ex-CERP related which I can’t remember
I excluded general news such as Covid-19, PoO, Brexit, USD-GBP exchange rate. Let me know of any proposed edits to the next version.
IMHO CONVICTION strong buy leading to 15/12/20 Percy-1 spud. This is NOT a SP prediction for tomorrow or next week. All IMHO. Always DYOR and/or seek professional advice. GLA.
Starchild
https://www.lse.co.uk/profiles/starchild/