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I don't think the BBC published info about the Ukef loan guarantee given to jaguar- Land rover to produce electric cars in the UK. I for one didn't know. Thanks carrot. . Its relevant if the UK under May is pushing for environmentally friendly policies which include granting guarantees to fossil fuel enterprises indirect opposition to the carbon free / neutral UK evisiaged by 2050 . But all you rampers just don't want to hear bad things. Do you. Do you......... There there. Its all going to be OK.
Yawn, yet another one claiming boiler room! 9 years and still no money to get this out of the ground, no boiler room pal, just failure ! Expect some negative old boy ! The current anti Oil sentiments are not helping either, although totally illogical because we still ALOT of Oil for decades to come, it will do us no favours and I think it hurts the Export Finance ambitions too
CitizenTS : Do take a moment to read through the Committee report published, pending Government response. UKEF *was* a fossil fuel sponsor in low income countries. This has now changed. Not likely any more.
Premier/RKH are at risk of missing their chance with their PIM delays.
"House of Commons Environmental Audit Committee calls on Government to introduce a strategy to end support to new fossil fuel energy projects by 2021."
"58. Research by Alexander Pfeiffer et al, published in May 2018, found that even if the entire current pipeline of all power generation plants was cancelled, about 20% of current in-use global capacity would need to be stranded (that is, “prematurely decommissioned, underutilized, or subject to costly retrofitting” to meet the 1.5°C–2°C warming goals.113 ODI explains how this can lead to an increased risk of stranded assets, including among UKEF’s projects: If new fields and mines are developed ... this can do one of only two things: either they push the world beyond climate limits, or they require a greater amount of existing infrastructure to be closed early, at a cost of economic and social disruption: stranded capital assets and lost jobs."
"60. UKEF told us that while they were aware that some fossil fuel energy projects, such as oil refineries, “may fall into the category of assets that are considered potential stranded assets in the future” they were “comfortable” with the fact that they “do not really calculate [their risk] in terms of climate risk.”117 While the projects UKEF supports may be at risk of stranded assets, as they have “very long life spans, up to 40 years,” Louis Taylor told the Committee that UKEF’s risk exposure, in contrast, was less: Our lending to those projects can last up to 17 or 18 years, depending on the length of time of their construction period."
"level of support for fossil fuel projects does not respect the Paris Agreement" "calling for UKEF's mandate to be changed by the end of the year to ensure that UKEF's support is aligned with the UK's climate leadership" "net zero emissions by 2050"
Thanks for the reference. Worth keeping in mind the taxation in Egypt and capex, a good proportion of which to date has been spent on sustaining, rather than growing, production.
The assets in Egypt were initially acquired with the intention of being the first step in a roll-up. For various reasons (out-bidded, etc.) it hasn't happened so remains sub-scale. Personally, I wouldn't be at all surprised if the Egyptian assets are sold and an extra $15-20m (or so) might potentially come in very handy and translate into value far in excess of that if, e.g. it prevents a placing. Every little bit of additional production would help with the valuation.
From Annual results : Production from the six development leases within the Abu Sennan concession increased during 2018 with production during the period averaging approximately 813 boepd net to Rockhopper .
From last update: As of 2 June 2019, the total gross production from Abu Sennan was 5,135 boepd (1,130 boepd net to RKH).
Add in the Italy production and I get those figures of 1130 from Egypt + 130boepd from Civita and Guendalina at 180boepd. total all things being ok of 1440boepd acroos the board.
Whatever. When you rampers have lost the ability to argue your own weakest links, then you are damned to lose the principal that you have ventured. Thanks for your shares at my bid prices and thanks for your liquidity at my sell prices.
Filtered by someone that publicly calls me a dick. For expressing my personal interpretation of the up coming Pmo trading update.. . So much for seeing both sides. Well if you can filter out all life's negativity.,I suppose it is going to be all glorious after all..
I estmate from annual results and last update that all production is roughly at 1440bpd. This is excluding the latest well result . On 2nd June they were drilling ahead at 1185m, having spudded on 26th May. Should they have another find in the Bahariya formation , that could be very good as the formation seems to produce at higher rates then the Arc reservoir. Seems that well results are only confirmed when they have tested and and after any production is brought online. Even a further 100bpd increase becomes important. So far from 2018 production there has been a 315bpd increase, excluding the current well. At even a lowly $60pbo that's nearly $7m gross increase from last year again excluding the current well.