Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Interim report 7/10/19 - "look to realise liquidity for shareholders next year (2020)"
HALO would be better off using the money they would waste on exploration to buy production assets and improve cash flow.
P50 55Bcf or 10mmboe with 20% COS? neh. Move on. Better ways to waste £millions IMO.
Relinquishment documents are by nature very downbeat - to preserve the faces of those doing the relinquishing (have better things to do with their exploration budget). In contrast, licence applications are upbeat. If there hasn’t been a well drilled then ones perception of prospectivity can come down to differences in opinion of time to depth (velocity curve) conversions.
It is interesting that Tullow were in the block - probably the same geos work for halo now as were working for Tullow when they applied for the block.
W$
Must be a positive about it somewhere surely.
Awarded a new block
Hope to God they aren't going for this licence. You'll get more gas from eating a tin of beans !
Hi all
Have we been given a new licence or just bidding for another one ?
44/26b was relinquished due to a lack of prospectively. Good luck HALO !
At this time Centrica and its partner see little prospectivity in the licence, and
elect to let the licence cease.
Licence P1671 was also seen to
contain an extension of the Garnet discovery in which Centrica have an
interest. Evaluation of the Garnet discovery in block 44/27a has established
that whilst the structure containing this discovery extends into the P1671, the
GWC indicates none, or a negligible amount is actually present. No other
prospectivity has been identified.
Hence Centrica and its partner wish to relinquish this licence in its entirety
Looks like this block was previously held by Tullow and Centrica. Needs further reading later ...;o))
https://itportal.ogauthority.co.uk/web_files/relinqs/p1671.pdf
https://itportal.ogauthority.co.uk/web_files/relinqs/p1184.pdf
https://dataogauthority.blob.core.windows.net/external/ukcs_maps/Rounds/32_Round/SNS.pdf
https://www.theice.com/products/27996665/Dutch-TTF-Gas-Futures/data?marketId=1660918
RB, great advice that. Enjoy life ! HALO is now my only owned equity. It is time to start looking forward to a rosier future for gas producers. I also still believe in AC, we need some good positive news flow now. If we use the $5 per boe P1/P2 benchmark HALO should still hold a fair share price if re-listed. We need that positive cash flow from recovered gas prices though. UK sector NS gas should maybe be a prime target rather than Dutch sector. I need to find out how the two sectors differ in realised gas prices. Can HALO either sell or get a FID on Pegasus West ? RRE buyer Viaro Energy have a shopping list, so I wonder what is on their radar. They are backed by UAE billionaire.
Hi MT
Hope your well, I’ve only VAL other than this at the moment. Since I started at 19 years old which now seems a long long time ago now, spreading over 5 items over a lifetime will see you ok.. property, business, pension & stocks but best of all enjoying the last one... spend what you can on life and fun all the others mean nothing If you pop your clogs early mate. Ha.
I still think Mr C will bring it in eventually GL.
RB - Halo is now my only share held. So I am hoping we see some action here !
I am thinking of buying a flat to rent out. Any experience of property investing? I might just buy myself a bigger house and take advantage of the stamp duty cuts.
Older, how much is HALO's share of Pegasus worth? $5 per boe? £30m?
Not paid for yet MT correct.
Interesting though RRE sale price is $5 per boe reserves and this is equal to what HALO are buying ONE-Dyas BV assets for. My gut feel is that HALO are now over paying for this asset. Time to renegotiate AC !!
I'm not sure what to make of the Rockrose offer at £18.50 by a private company backed by UAE. RRE A company valued at £37 a year ago. It puts NS oil and gas investment into perspective now and valuations are much lower than before COVID (obs). RRE claiming they couldn't raise equity as the market just never valued RRE properly. I suppose it highlights what a great fete AC has achieved with the tie up with Engie. Also does make you wonder if HALO will ever re-list? If HALO doesn't re-list how do we get our money out?
Does Neptune still want Pegasus on the cheap? Is that the ultimate goal?
Those assets were a fraction of what they were initially bought for remember, as will any future assets bought these days.
Time will tell.
Having had a chat with Mr C last week all i can say is we are not as bad as others, so in times like this its batten down the hatches and and in the meantime pick off anything worth while that may come along.
MT you've hit the nail on the head if we re listed tomorrow everyone would sell anyway, which would do Halo no good at all.
Its been to long we all know that but unless someone has a crystal ball they could lend him its a waiting game as with all the rest.
Its all going **** up !! Gas prices are predicted to recover next year so never say never. Spirit are up for sale too which complicates matters. Next 12 months is about survival for HALO, just hang in there. We have gone from hopes for £3 per share, to £2, to £1 , now its please relist so we can get our money back ! 10p...anything! All part of the fun investing in fossil fuels...;o))
Mark Fotheringham, oil and gas projects and engineering director, said Spirit’s intent was still to grow and mature, though some capex has been deferred due to the commodity price slump and Covid-19 outbreak.
Mr Fotheringham said Spirit had been “heading for” a final investment decision (FID) on the Pegasus project in the Southern Gas Basin in 2020, but has now put project approval on ice.
The company attributed the delay at Pegasus to “operational reasons”. Spirit had hoped to use the Cygnus platform as the host for Pegasus, but clashed with operator Neptune over capacity.
They could be mate, we could do with this one.