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N-O-N
been a few , what the ancient head does remember though is Art in an rns
on one of them stated they had pinged the DPR/NNPC about the extension
3 times already , that was around the time the license was due to expire
Sept 2020 and we have had at least 2 more extensions that we know of
Could be more the 2nd one 12th Nov Q3 Sedar , not reported to London
so may have missed others on sedar, when not aware , they where getting
fed and we mushrooms starved , of some relevant updates.
;))
Most recent stuff in the PIA indicates that Essar will have to have a face
to face , opl's replaced by PPL licenses , with strings attached, can do it
yourself ASAP , or wait and get it done by the authority later
Best for Essar to negotiate now and cherry pick our license area , the PPL includes
a relinquishment of a % or acreage , the idea seemingly being , they can issue more
licenses (how about the current ones ffs) to speed up development across the region
Likewise OML changes to PEL and Marginal is scrapped , all to be renamed PPL/PEL
other under the new system, within 18 months
Its probably in for a service , ready to be called out sometime this decade
Yes that rig is now a diving attraction
Lol
Since we have had around 6 extensions I am sure HFB could will know exactly how many extensions we have had
In one interview Arthur said the rig was on its way lol that was like 3-4 years agilo
It's now or never now or never..
Lol was it unreal
Bolton was that not like 18 months ago
Time flies when your having fun :-)
Give us a update please on Nigeria what is happening?
Shoreline Canadian Overseas Petroleum Development (ShoreCan) has reached an agreement in principle with Essar Mauritius bringing an end to a dispute on Nigeria’s OPL 226.
Canadian Overseas Petroleum (COPL), which has a 50% stake in the ShoreCan joint venture, set out the agreement, which has brought a stay in legal proceedings in the High Court of Justice in England and Wales.
The deal will see ShoreCan’s stake in the block reduced and Essar will provide a $5 million carry in the drilling of a first appraisal well.
ShoreCan will transfer 70% of the shares in Essar Nigeria to Essar Mauritius, leaving the joint venture with 10%.
That was in June 8 months ago shorecan done nothing
Also we was the main player in it. But court cases and delays now give us a small percentage of it kola done nothing for us..
HFB yes Nigeria unreal potential just don't think it happens I invested 5k at 1.67 I think because of it. Now I guess that's 2 pound share price. We was told meat in the sandwich and we also raised lots of funds for it. Guess what I'm still waiting lol..
Bolton
yes its dragged on but for a change something we can't blame Arty for , the locals
corruption and lack of transparency , high taxation etc , killing their own cash cow
local fuel subsidy , wiping out most of what revenues being made and fat cats
getting well bloated
The new PIA has given structure , the President has set up 3 new anti corruption
org's , one for each part of the sector , up, mid , downstream and made NNPC
accountable and a PLC, to take corrupt politicians out of the equation
The DPR also scrapped and replaced , the new body has hit the ground running
meeting with all the regional Majors etc and many who planned to leave, have
stated , they are having a rethink as they like what they see
The exception being Shell but they have their own problems, hammered in the
courts and fined, to bring down their carbon footprint, leaving Oil not just in
Nigeria, to move more into the Gas, LNG and infrastructure/sales
So it might still happen for Essar, KK might also finally provide something , Gov also
looking to divest more of the returning acreage to local firms, in a couple of the news
articles , half a dozen local firms named as potential , previously successful local firms
including his Shoreline
Fact is Wyoming changed the game if not the Market so far a year ago and now with the
discoveries , the company no longer needs Nigeria to come through but what a bonus
if it does , 100,000-200,000 bopd op on the first of 4 discoveries
cheap option taken 15% to copl 15,000-30,000 bopd and could be higher
Target for each of those first 21 wells 5,000-20,000 bopd per well
;))
Something going on here this should be over a £1 with the news we have had
After 5 years or whatever it is I have give up on Nigeria never going to happen to be honest not sure Arthur would even be arsed about it now. If it happened would be nice to have a few fingers in more pies lol but I don't hold much hope to much politics. USA only interest now.