Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Agenda?
Little correlation with XEL, Alan is tidying up a complex array of risk service contracts. All parties conduct due diligence which requires thousands of interactions: some by email, others by phone, yet more by the appalling but necessary zoom, teams etc etc due to the Chinese virus!
Afterburn, I understand what your saying about this, but I don't see PVR as anything like Xcite and I know that part of history quite well!
This has no debt in the same way Xcite had and is trying to bring not a new concpet to market with the Services for Equity play but it hasn't been execute that well over the years for one reason or another. I would like to know where they are getting there FPSO from as a few ready for re-use kicking around the North Sea and I think perfect for this. All the rest of the kit on this development is fairly straight forward in terms of Oi & Gas Field Development and I feel with many years of O&G Development they will get this up and running fairly quickly!
This is nothing like Xcite. XEL had c.£200m of bonds running to maturity and they couldn't renegotiate them with the bondholders or raise the capital to pay them off. It was a ticking timebomb. A farmin partner with deep pockets could have helped but never materialised. Yes PVR is seeking a farmout too but there's no overhanding bond repayment - very different set of circumstances.
My friend this board is not very friendly. I asked a few questions and got **** replies.
All I’m going to say is be VERY careful. I know from experience. Look what happened to Xcite. They even pumped thousands of barrels out to prove it was a good field. Problem is low oil prices and reluctance from banks to give loans especially in this climate are banks going to hand out billions when they’re in trouble them selves ? Just look at rolls Royce ! Wipe out nearly.
https://www.offshore-energy.biz/xcite-energy-put-into-liquidation-as-creditors-seek-cash/
RockLawn, calm down, spelling mistake! How about you get back in your box!
AXE..if you know the assets quite well ... its amazing that you dont know the name of the field ... where are you getting Barrymore from?... stop the bull.... and stay quiet...
Been stalking this for a while and managed to take advantage of this morning drop. I know the assets quite well and the Consortium that plan to bring this to life! It's 100% got all the part of the puzzle in place and I expect this to be agreed in the next couple of weeks. SP will be around triple from here based on the Markt Cap potential and future value of Barrymore, that before this starts pumping oil!
A great Mulitbag opportunty from here in my opinion!