George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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It seems BPC is confident of finding OIL and the fact they have stated there has been hydrocarbons have been discovered but off structure and now for the first time they will be targeting these giant structures
Also the chance of a farmin is still out there with loads of time for any major to join BPC up to Feb 2020, will these majors risk not being part of these undrilled giant structures?
The signing of the sea drill contract and the particulars of the drill ship are IMO separate so will not holdup the EA process.
'A major part of the work being undertaken by Acorn pertains to incorporating into the EA documentation detailed data unique and specific to the actual rig, that will undertake the planned drilling activity. Substantial elements of the document submitted in April 2018 contained, of necessity, only generalised data of a "hypothetical rig" that could be utilised to carry out the drilling operations. However, now that BPC is working with Seadrill, specific data from the rig that will be mobilised to the field is available and can be included as part of the application update. This data includes, in particular, technical details, equipment lists, standard operating procedures, and response plans specific to that rig.'
I am becoming more and more convinced that Seadrill/Halliburton contract sign off by 30/11 “deadline” being not confirmed despite funding now available is because of extraneous circumstances.
My belief, as things on the news front have quietened since the plethora of podcasts/ interviews in the last month which is unprecented in BPC history, is that a/the Major is back.
Their hand has been forced by an campaign by our company to force them to make a decision or miss out on getting JVd @ a reasonable price.
The JVee would want to control rig/well head contracts hence my speculative theory re signing delay.
Noticed some decent buys this a.m. so possibly about to hear something imminently which would be appropriate on a timeline as if we are drilling end of Q1 everything needs to be signed sealed and delivered on a similar timeframe as BPCs plan A i.e. go it alone due to license requirements.
GLA.
RNS for Seadrill on its way......as well as our imminant Re-rate!
Where is it? Now overdue.....i know they had some wriggle room on the actual timing but until the Contract is signed then the spec for the vessel can't be confirmed in the EIA.