Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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I’m in for the long haul whimax.
Good luck to all
Whimax,
Fully agree ..... ditto for me too
Adonis stated, "no longer a dream its a reality"
Excellent webinar, almost completed derisked now. Im now 100% relaxed about my investment here. If funds allow I’ll buy plenty more at these prices, as quite frankly, 12p is farcical for what we have and where we’re going.
Those who aren’t yet convinced should sell and move on.
Personally I think it is a fair deal for a long term holder.......not for a shorter term trader!
GLA
Happy I. Once we have had a bid there would normally be another. Really hope so.
So I take it that we could have another raise pre gas just not a “significant” one. Hmmm. Let’s hope we will be will be way higher than the 12’s when that happens!
Was feeling a tad chippy on news but mood has changed just a bit.
Fernan, Surfit are you in or are you out now that you have read and digested?
Henry Sinclair where are you old boy?
They're in play now.
Who's to Energean won't just bid for the lot or another suitor appear like Harbour
All IMHO DYOR
Happy
Must have low ball NK. Welll they will come knocking again? I hope so and id be happy with 50p!
AP said we could have sold Anchois off but thought the JV is more profitable for us.
I'm here for the long haul, so don't care. But I suppose we'll never get to find out
Went very defensive when asked if any more of Anchois will be farmed-out
Chariot "received indicative offer for whole company" .... wowww !!!
2026 it is then Redeye
2 years after FID to build up the project to production
Yes Nickshaw. Now been said twice. 👍🏻
We were previouly informed that Lixus had a NPV of US$ 1.2 billion (net to us).
We have given up 60% of that value, or US$ 720 million (our equity in the project is down from 75% to 30%) in exchange for:
o US$10 million payable on completion of the transaction
o US$15 million payable on Final Investment Decision ("FID")
o US$85 million gross carry (US$ 34 million net to us)
Total consideration to be paid to us: US$ 59 million
In addition to that, if Energean don´t exercise their option, we will have to contribute our share of future development costs (more dilution coming).
No wonder the share is down on the news
I remember Jimmy´s previous calculations of potential payments to CHAR at the closing of the farm out deal. This is a long way from that.
Regards
Is this from the conference call Whimax? I am unable to listen in
“First gas without any future significant equity raise” 👍🏻
Correct - meant from Karish. Sorry.
Could it be a deliberate attempt to drive down, by a competitive provider to N Africa and EU. Seems all new providers are not rising as fast as I would expect. Expensive if so but peanuts in comparison to the long term. Just a thought.
"see its income stream vanish.."
Wrong, they will still have circa 33-37kboepd
Hello
· Following completion of the Anchois well, Energean will have the right to acquire a further 10% of Chariot's equity in the Lixus licence for:
o US$850 million gross development carry to first gas (including the US$85m gross carry)
o US$50 million 5-year zero coupon convertible loan note with a strike price of £20 adjusted down for dividends or issuance of three million Energean shares, at Chariot's option on FID
o 7% royalty payment on Energean's gas production revenues in excess of a base hurdle on the realised gas price (post transportation costs)
Yes.
But Karish is Energean's main source of income and given the risk in the ME presently, a strike on the platform would see its income stream vanish.I think this is why the market it reacting with the dropin the sp.
Gooner - not sure if you can read the FT article on Energean, but have posted some of it here...the reason I thought they might be interested in CHAR was mainly because of the current risks to their operation off the Israeli coast...their Karish field sits in Israeli waters but...
https://www.ft.com/content/a45e366d-8193-4243-9ea5-a79db82f28dd
About 75km off the coast of northern Israel sits a vessel once targeted by Hizbollah, and now guarded by two Israeli warships, tasked with ensuring the lights stay on in Israel during the war against Hamas in Gaza.
The giant floating production facility is the primary asset of London-listed Energean, which started producing natural gas from the Karish field last year.
Although a relative minnow in the oil and gas industry, Energean “has been providing at times up to 60 per cent of all of Israel’s gas demand” from Karish since the October 7 massacre of about 1,200 Israelis by Hamas, the company’s founder and chief executive Mathios Rigas said.
“We had to produce to keep the lights on in Israel . . . ‘just keep the gas flowing’ was the message, so we went to maximum capacity,” Rigas told the Financial Times.
The responsibility was thrust upon Energean after the Israeli government ordered a temporary shutdown of the Chevron-operated Tamar gasfield, which normally meets about 70 per cent of the country’s energy needs.
Tamar’s production platform, visible from the north of the Gaza strip, sits only 25km off the coast of southern Israel — well within range of Hamas’s rockets, although production was restored after a month.
For Rigas, the dangers for natural gas producers off Israel are not new. In July last year Israel shot down three Hizbollah reconnaissance drones that the Lebanese militant group claimed were heading for the Energean Power floating production vessel as it arrived at Karish amid a territorial dispute between the Jewish state and Beirut over control of the gasfield.
Gas production only began at the site in October 2022 after the US brokered a landmark maritime border deal between the two countries, leaving Karish on the Israeli side of the line.
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https://www.ft.com/content/a45e366d-8193-4243-9ea5-a79db82f28dd
The war with Hamas has reignited fears that Hizbollah could try to target Energean again, leading to a 20 per cent drop in the company’s shares as the conflict started. But having stabilised in recent weeks they are down only 6 per cent from pre-conflict levels, valuing Energean at £1.7bn, helped in part by Rigas and other senior figures stepping in to buy
We are down! ENERGEAN good partner to have
>1b usd MC.