Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Bedex - IMHO a 'business as usual' type of message from FRR would not be good enough for a lot of shareholders. Also, TW et al would no doubt put negative spin on such a statement, pointing out the lack of clarity on flow rates equates to very poor flow rates. If FRR release the flow rates then it may attract more super majors into negotiations. I have always thought that Block 12 will end up with a consortium of super majors, namely BP, BH and ExxonMobil and I still think this could happen. If FRR are negotiating with up to three companies it will take time, but add another one or two and the negotiations will take very much longer. FRR don't have lots of time as they need to pay off SH/O within 12 months and to appease the GG. Therefore, the only scenario which makes sense is to keep schtum.
Thanks reg I value your input I'll sleep easier tonight
"If the field has been quite" was my wording and the Major I know wants gas not oil. The wells will still be dribbling oil that needs collecting and gas will be suppling the villages that they are contracted too. So you could say that is business as usual. How much only FRR know and maybe one day we might. T
BB are bad for your health and state of mind so take up a hobby put this share in a draw as I nor anybody on any BB can influence what the outcome may be but FRR are still in business and seem to be able to defy financial gravity and live off fresh air so I for one will be giving them room and time to come to a conclusion.
I think yj saying they havnt heard from them for ages is also worrying .
reg, so what is the problem with a "business as usual " type message from frr?
That's what the concern is about.
Fact – majors have access and reviewed the B12 data and other fields are showing signs of good hydrocarbon recovery/finds in Georgia.
Fact – GG would not sit back and let a valuable resource sit idly by and Georgian workforce being laid off. They may ask for their ball back and revoke a licence due to insolvency. But on the other hand the liquidator would seek evidence of solvency so a non active/producing field would not fit the bill. Failure to pay other liabilities (YA) would also fit into this category.
Fact – the lawyers bill must be in the millions by now and these guys would seek assurance that they will get paid (or being paid)
If the field has been quite that it may be a the behest of a major who wants to do it their way so one may have been busy tooling up, increasing resources and building a management team to take over a rich hydrocarbon field.
That may pacify a Government and convince a Liquidator that a light may be switched on at the end of a very long and dark tunnel.
Hope’s own emails confirm that the SP might be in a better place soon.
Now back in my hole and note to myself more golf and less LSE BB.