Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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For info, the ConocoPhillips reconnaissance contract expires 11/6/22 :-)
We can conjecture that at least one and possibly both of our two chosen candidates will assume they’re up against CP . They’ll be looking at our published terms trying to figure out not only how they feel about them but also how the competing party feel. Those who didn’t make the shortlist may be tempted to have another bash. It’s an auction without us declaring one . All the pressure goes back on to the competing parties who’s focus will be each other and not dear old PRD. It’s very clever :))
Further to wacky's reference to ConocoPhillips, our Moroccan neighbours, noticed they ended Q1/22 with a cash pile of $7.5 Billion ......
Morning all,
Wonderful rn last week and as usual answered a few questions but raised others,
Such as Why 4 wellheads when we are drilling 3 wells. Unless I’ve missed something.
1 as spare
2 to replace the in situ MOU1 because of greater than anticipated pressures.
3 for use on another well (previous rns)
4 ?????
With regard to the wells described Tfr1, Dgr1 & Dgr3
This is a guess but I think they are the new designated well numbers for :
Trf1 is Taf-1x
Dgr1 is Grf 1
Dgr3 is Msd1
How did I come to that conclusion, it appears that the ticker gr1 and gr3 are the same reference numbers for the seismic lines on which the wells are currently drilled, not certain what the letter D refers to.
I would imagine if this is the case the change of designation has come from Ohnym, which in itself raises the question why change the name of a fifty year old well, unless it is going to become part of a new project.
The latest rn does state the the two wells have “Oil and Gas shows”.
Also to note in the same paragraph that the Tselfat and Boudraa areas were mentioned as in if Mou/NE is a success case, it will prove up the petroleum system from the east of the Guercif license to the west of the rharb basin, also to note that the two areas are currently within ConocoPhillips license area who currently have less than sixty days left on their reconnaissance lease and we gave notice of sixty days due diligence for future partners.
May be just be pure coincidence, but we all know Phillips drilled the Taf-1x well in the 1970s and also Transatlantic we’re heavily involved in the siesmics of Guercif and the Tselfat and Boudraa areas.
Small world.
Ireland.
If you cross ref with the dates of the company being asked to supply info for Corrib and ramhead with our recent rns you will notice that the dates of announcing our gold sponsorship of the energy meeting match (1st April) then we received confirmation from the decc, then the event goes ahead, then Paul provides the podcast with the jumbled or stuttered word successful.
Point is did he let the cat out of the bag.
Not much to say about Trinidad, slightly disappointed of the outcome, but the industry changed when Minister Stuart was appointed and the emphasis was placed on gas production.
If we can get enough funds from the sale of the Trinidad assets to support Morocco I will be happy with that outcome.
Welcome aboard our two new non execs.
The next few months will certainly be interesting.
AIMHO of course.
GLA.
Wacky.
Iconic Album
https://www.youtube.com/watch?v=oT3WBbCfsGo
Morning
As the BB is quiet
pro tem
A short story (tune out at will, of course):
Many moons ago, I bought (in my main market listed company) an estate agency chain...7 outlets ...
We built it up to a much larger chain...22 outlets in a form of JV
I then sold the whole thing to a large insurance company ...
((it was at a time when insurers and others were keen to buy estate agencies
to try to cross sell their mortgage products
BUT ...here is the THING:
at the same time as I sold the main business, we formed a new JV
With the insurance company providing all future funding for very large expansion...driven by me and my team
In the sale and new JV deal, I negotiated a PUT option
Whereby ...at a predetermined date in the then future...
I was able to PUT the equity stake that I held in the new JV back onto the insurance company
at a predetermined price formula...
with the all important RATCHETS
It turned out very well...materially aided my ‘retirement’
Obviously, I am not going to go into many details on here ...
in case anyone should try to draw parallels
Regards
GRH