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That would be grand. From what I cna find Scott is doing just under 40k bopd, with CNOOC having about 80% of thst, or ~31k bopd.
The thing is, I can only see them winning it if they bid for it and take the decommissioning on. Now it may be they cna do a Rockrose and push that out, but I think thst it might be a bit big for them perhaps? Particularly if4 the likes of Enquest are circling too.
I'll say again, with recent announcements that CNOOC are looking for a buyer for Scott, I think LBE will (and have been) looking at GPA. If Scott is selling for next to nothing (de-commissioning costs), they'll get current production for cashflow, huge development potential and the hub concept they keep mentioning. And before LBE days, as FPM, they were dead keen on Perth.
Watch this space...
I also wonder if they are looking at the Bleo Holm and Blake/Tain/Serenity. Repsol Sinopec might be willing sellers and there might have been a delay with Rockrose selling to Viaro. I3E have suggested they have been in talks with one party for while too. Would give existing production with upside potential in Tain/Serenity/Liberator.
Having said that daveri (is he still invested?) seemed to suggest the deals were over in Norway rather than UK North Sea.
What will Perth cost though?
Thank you
-- BB - -
Just reposting my post from July to put some meat on the bones of the below post..
Maybe they'll try for a second bite at Perth?
They had a stake in Perth and 100% of Lowlander, and were very enthusiastic, with Graham Stewart saying earlier: "Faroe is building an exciting core area around Perth and Lowlander in the Central North Sea and work is underway together with our Perth partners to progress the potential high value Perth/Lowlander joint development project." Then gave it up in 2016, and PMG (who had a sizeable stake in FPM themselves) got it all.
As WH Ireland said in a research report a while back "Faroe has written off its remaining investment in PDL as non-core in its recently announced H1 results, which we believe reflects its Norwegian focused strategy. In our opinion it is untenable to have an uncommitted partner in a high-quality and undeveloped oil project that is of material scale from the perspective of the OGA. Parkmead is committed to progressing the field and the OGA would not hesitate, in our opinion, to force Faroe to exit the Perth, Dolphin, Lowlander hub-area given that they are manifestly pursuing a strategy outside of the UK in terms of future growth and capital allocation decisions. "
So if they were forced out of it previously, maybe they still fancy it?
Not HUR.
I think they may play for PMG's Perth project (FPM were involved and keen but probably forced to give it up by OGA). Possibly tieing up with JOG also for Buchan.
Should see soon enough.
Still too much uncertainty with HUR. No way imo.
Having sold some HUR to buy LBE i would be mighty amused if true :-)
Seems improbable to me..... Did Craig David tell you ? ;-)
Don't believe everything written on inter-web.
FWIW : While I have opinions on HUR (.... see Lemonfool) It actually doesn't matter who LBE buy so long as terms of the RTO are acceptable to existing share holders. If you don't like deal then sell at the new-IPO price, whatever that might be.
I truly hope not. I had over 4 years pain with hur. Pain with crystal amber. And I personally think trice should face prosecution for what were half truths if you were being kind
One time comment over the last 30 days! I called it right with RRE ( check my posting history). Maybe i’ve called it right here!
The original post was written by a one-time commenter on each share. Awful ramping..
Seriously doubt they are interested in HUR! And certainly not at 6p+!!
Nooooooooooooooooo (I hope)
-- BB --
1633 post on the lse board today by oilman1984
I lost a small fortune on hurricane and that idiot trice
Some muppet on Twitter said hur at 6.8p per share offer from longboat. I hope not
^ interim results rather than AGM! 22nd September....
AGM on Tuesday 22nd September.
Wonder if we might get more news before then...
I'm somewhere in the middle. I think that any RTO will likely be significant, however, I think there's a strong likelihood that any RTO has been delayed by probably at least three months just due to covid.
We'll see. I'm continuing to gently drop money in here.
agreed .... i am sure that RRE went through the same rigmarole ...
there has been selling by Jubilee - I believe - but that was forced ...
yes - great top-up price ...
hold and hold ...
-- BB --
Still here, still holding.
Am very very confident that it’s not a small deal anymore.
This delay is way way more than I expected and leads me to believe that any deal they are negotiating requires sign offs from other governments or a major bod etc etc and there’s more than meets the eye.
The sp movement is not relevant because as some pointed out this is just a shell company with only 10m shares in issue.
Question is .... how much longer will we need to wait ? Fair to say many have cleared off and now only the die hard are left.
Excellent price to top up.