Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
This deal always interested me when BP put its hand in the pocket last year
https://www.reuters.com/article/us-bhp-divestiture-bp/bp-pays-105-billion-for-bhp-shale-assets-to-beef-up-us-business-idUSKBN1KG34V
I think Mad Punter wrote a good summary at the time as to the cost per bbl vs our asset the mind boggles
cheers
Aurora
Madpunter,
I'm not sure what you mean but that's probably my fault.
I had BP for the gas in Block 12 , the oil who knows possibly a JV there initially with an unknown party at present and EXXON backing the Dolphin tenure .
Aurora.
Thanks . I have always thought that a deal could be done around the cost recovery when the resource is so huge , a super major will certainly be able to crack on quicker than us and that would tempt the GG to do a deal maybe. In truth a JV might suit us better and help us achieve a higher selling price in a year or two when the field is further developed and we have an accurate CPR. Like you say news could be close now
Hi Gipps,
the issue with the TO is the cost recovery. Not impossible for a deal to be done with the government as Im sure they are happy to have super majors getting on with the job so its possible. More likely a farm in and a buy out after the CR is cleared
I also agree with folks today we are getting to a cross roads with the Ukraine adventure where Zaza I hope will spill some beans as you cant have big news there and not address the the people that backed the company some of us for 10 years
cheers
Aurora
Gipps - IMHO FRR will sell Block 12, but not a FRR. IMHO as the super majors are still involved with Russia, they will will want to distance themselves from Ukraine and Moldova at present. Also, the value of FRR's assets in those countries will be very low until a CPR is undertaken, therefore it wouldn't be in FRR's interests.
Madpunter,
Full TO for me if the oil and associated gas is flowing well . Why would a Super Major not want the lot.
RogerA - Assuming a deal has been agreed by FRR and the super majors doesn't mean it has been signed yet. If it is with BP, Exxon and BH (more time for more interested parties) it will take time for the lawyers and accountants to go over the paperwork before signing. Also, I would assume if such a deal is in place, that it will be a mixture of cash and shares in those companies. This type of deal will require the share price for the deal based upon a weighted average (the POO as well as trading will effect the share price) for a number of days prior to the deal (similar to the conversion price deal with YA for the preference shares). Therefore, if the paperwork was to be signed say at the end of August, there may be a weighted average share price used for the whole month. Prior to this sequence of events the majors may have agreed a value for Block 12, but were still negotiating the percentages of ownership. Therefore, FRR and the super majors may have been in a position of knowing about the deal long before any signatures are put to paper.
Would take this hearing over Dolphin to be one of the biggest positive pointers.
Let's hope on the positive pointers turning into reality.
Frr would need $s fairly well before next June/July as that is when Frr case, is due.
Payment for lawyers & for Dolphin itself.
That's a fair assumption, Gipps. It's just strange that FRR are pursuing Hope for the same amount. Can this be coincidence? It's impossible to believe that they are relying on damages money from Hope to fund Ukraine since they are nowhere near even smelling that money (and Hope probably doesn't even have that much should they eventually win in court). Is that amount something they can taunt Hope with or use as a ballpark figure from which to start a damages claim? As always, nothing adds up.
So if frr have access to 56 mil as per assumption, there must have been a deal made in Georgia. If that is the case why have we not been told and why have the BP shareholders not been told? Please RR don’t post that it is to keep Hope out of the loop. If a deal had been done the whole world would know about it by now.
I have to agree, sounds as though we have access to £56 million win or lose.
This must confirm 100% that Frr have gone for Dolphin of which they cannot do without backing/funding.
The court appointed a preparatory hearing for September 19 for Frontera Resources Ukraine against the Interdepartmental Commission
https://oilpoint.com.ua/sud-otkryl-delo-po-isku-frontera-o-rezultatah-konkursa-po-delfinu/