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Not good short term here.may sell out on this i feel.patience fading
Final investment decision on Tanzania LNG plant still 5 yrs away -Statoil 18 hours ago by Thomson Reuters By Katharine Houreld DAR ES SALAAM, Nov 16 (Reuters) - The final investment decision on a Tanzania's $30 billion onshore liquefied natural gas (LNG) export terminal will not be made for at least five years and possibly much longer, said Oystein Michelsen, Statoil's Tanzania country manager. "We are prepared for the project to take a long time, but we could bring it forward if the government is ready," he told Reuters on the sidelines of an investment conference in Tanzania. "We are not schedule-bound ... if the government delivers we would need five years until an FID," he said, referring to a final investment decision. It would take another five years after the decision to build the plant, he said. Tanzania's natural gas reserves are estimated at more than 55 trillion cubic feet (tcf) and the central bank believes starting work on the plant would add another 2 percentage points to annual economic growth of 7 percent. The government is keen to promote the project but there has been little public discussion of the timeline. Outstanding issues included a stable framework with the host government, and clarity over local ownership requirements in some contracts, Oystein said. In August, Tanzanian president John Magufuli ordered officials to speed up long-delayed work on the plant, a project involving BG Group -- recently acquired by Royal Dutch Shell -- and Statoil, Exxon Mobil and Ophir Energy , in partnership with the state-run Tanzania Petroleum Development Corporation (TPDC). A statement from Magufuli's office said he wanted the remaining issues sorted out so construction could begin immediately. Magufuli, a reformist who took office in November, has sacked several senior officials for graft or inefficiency. (Editing by David Evans)
Any Reason why this is falling, doesn't make sense brent is doing fairly well. would have thought it could hold 80p easily, glad i sold now looking to buy back in but not sure what price to seek.
Share to be in, I thought the recent news might have nudged the SP higher for longer than it did!? However, roll on the end of the month and see what our Arab friends can do at their little meeting to get themselves and the energy sector out of the little tight spot they've put themselves in.
Not a done deal but i expect this t b signed off early next year
Why is he dreaming? There has been plenty of opportunity to buy below 70p,
has been telling us that there is a great opportunity to buy in here below 70 pence,I think he is dreaming. The obvious target is above 100p and soon
I agree this should be at least this.Remember will also have substantial production already [at low cost approx $15 a barrel] with the ex Salamander assets.We need OPEC to get their act together and cut production then even this should go up with the improved sentiment/outlook.If they don't POO is likely to fall again and this will likely stagnate despite it's assets/cash/deal etc. Let's hope this week brings some more upside.GLA
This should be 120p easily with Fortuna news. Other upsides include : Tanzania drilling and Shell's investment plans. Kerendan First Production Myanmar prospects based on the results of 3d seismic Decision in drilling Ayame oil prospect in Côte d’Ivoire Target 150p
http://oilprice.com/Latest-Energy-News/World-News/Schlumberger-and-Golan-Equatorial-Guineas-Fortuna-Project-Back-On.html More upside here as Ophir rerates
what a differevce a year makes. Best deal Possible under the circumstance . Quality partners but 66% hand over hurts . The debt finance will be a even split but their seems to be protections within the desk .
Good news today Kaimirza, glad I held. If we can get EQ moving on schedule and another hit in Tanzania then we're looking good. GLA
No. I am not uneducated. Did they teach you about question marks at your school? Tis dropping back already.
I am a long-term holder and I am happy with today's news. Ophir get 33.8% ownership of the JOC, while getting direct access to Golar's FLNG technology, at a cost of no more than $150 million. We will need to see how much of the debt finance Ophir have to cover, but it appears to be a great deal. Ophir's projected share of revenue is over $200 per year (excluding debt repayments), from 2020, while the current market cap in $700 million. This seems cheap. In contrast to its peers, the SP has never really recovered from 2014 levels, so there appears to be considerable upside to the mcap. In my opinion, this should be 150p+ on current POO levels and more if POO rises.
got back in yesterday with a small(ish) holding of 10,000 shares @ 68.5p. sold today at 75.4p. too early as usual.
Let's have our moment of glory before you pi*s on the parade.
is that just an uneducated guess or what .
Be back down again soon. People starting to flog em off now
Ticking up nicely , and of course 2 wells being drilled in Tanzania at the moment so there will be more news to come on them.
Good one Cobb, i snagged a few extra buying first thing then selling to cover costs before 9
I was lucky enough to buy back in here yesterday. I have been trading it off and on for the last 2 year. With this news I expect to see a sustained increase in the sp
Looks a good deal to me ophir spend no more than 150$ million.
Ophir and OneLNG to form a Joint Operating Company to develop Fortuna FLNG Project.
And Schlum back in. Did not see that one coming.
By Far one of the most stable Oil companies in the Industry!! most of my money in PMO thats just gone T*Ts up look at the SP of other oilies they have crashed in the last few days yet this has been solid. wish all my money was in here!! I bet this will have stellar rises with brent, has hardly fallen.