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. Similarly, our green hydrogen interests, which are being advanced in joint venture with His Highness Sheikh Ahmed Dalmook Al Maktoum, continue to move forward promisingly, including the recent registration of the project under the Verified Carbon Standard programme with Verra. His Highness and I were also extremely active during the Dii and COP28 Conferences and we continue to work towards finalising off-takes. One of our prospective off takers, EGA, was expected to finalise its off-take commitments at COP28, but since its decarbonisation programme has yet not been finalised, this will be addressed after their internal strategy is firm. COP28 was an important trigger for a quicker global energy transition, given the commitment made to move away from oil and gas. We expect that this shift will translate into greater financial support, more conducive government policy and firm decarbonisation commitments by industry across the globe."
Interesting from late jan
"it's ticking up on every small buy which means there's no shares around" - Yes, it means there is an incredibly low liquidity due to lack of interest, generally not a good sign
"a placing seems increasingly unlikely - funding from some source, either a strategic investor in the green hydrogen or a green finance grant seems likely" - Haven't people said this through the last placing(s)? We can only speculate, I'd be interested to know what gives you such confidence though, am I missing something?
Sheikh fasting....the share price has been fasting for the last 14 years!
The sheik Fasting.... Hopefully after EID this can give us some hope. Guess things can only get better. I wish ......
at least its still alive
.
What on earth are you talking about? You could write the worlds best novel.
there seems to be a buzz developing around it again - big news coming from ****stan on a number of fronts soon imo, but whatever the reason it's ticking up on every small buy which means there's no shares around and a placing seems increasingly unlikely - funding from some source, either a strategic investor in the green hydrogen or a green finance grant seems likely
What action? It's 10k or so worth of shares trying to read into that is like reading into Tesco selling 8 extra cans of baked beans one day. It's just noise.
Why the interest in Oracle today I wonder. For weeks there's barely been any shares changing hands and then today it's picked up for no apparent reason. Appreciate the value of shares trader is tiny but in comparison on previous weeks, it's something? Any ideas?
You see what we got for it? We practically gave it away to Naheeds mate, Lenigas, for a steal. Forget the pittance we have kept, it’s a shocker of a deal and the only willing partner was her mates.
James can you give a bit more detail about how/why Australia was a disaster? thanks
How can you say its the only thing keeping the SP low? What about Naheed's inability to ever close out a project? What about starting projects in terrible jurisdictions (Aus aside, which was a complete disaster)? What about the constant dilution of the SP? I could go on...
The thing is funding uncertainty is the only thing keeping this low - one sniff of a strategic investor in the Green Hydrogen project, or Thar Block VI go ahead or a green finance grant and this is a nailed on ten bagger IMO
JFI - I've logged a call with IT......ORCP price gone blue :)
this is a great article, extensive quote from naheed, really steps up the pressure on the government to act
"the need for alternative sources of economically viable gas in ****stan is clearly evident, and the government has sanctioned the conversion of coal-to-gas with this in mind. with the ongoing support of our consortium partners, including our technical partner and clean coal pioneer, cncdc, we expect to be the front-runner in this burgeoning industry,” oracle ****stan chief executive officer, naheed memon, was reported to have said at that time. “it is estimated that through the application of coal gasification, our thar block vi project could produce and supply approximately 1,000m standard cubic feet per day.”
I
Good write up in leadin English language daily on pk energy policy or lack of, plus good mentions of ORCP
https://www.dawn.com/news/1822265/stalled-energy-solution
"I just wish Naheed would give us some clue that discussions are moving forward or indeed any regular engagement".......she could be too busy, perhaps she's still frantically looking for a cheaper replacement share purchase plan? or maybe she's searching high and low for any spare cash to hoover up some shares for herself at this all time low?
We're all expecting something to happen - Gov has few good choices when it comes to energy costs with IMF bailout conditions imposing a lot of limits - today they are demanding end to fertilizer industry subsidies for gas - Thar coal conversion to gas and chemicals is the obvious solution - they should launch Thar Block VI as a mega project - I just wish Naheed would give us some clue that discussions are moving forward or indeed any regular engagement
That's exactly what I had been thinking. Or, something which will make the SP rise, making it easier to do the raise without destorying the price.
She's clearly been holding off from going to the market again - we must hope that there's some other source of funding coming through that makes a placing unnecessary until the SP has recovered somewhat
"We're in a holding pattern right now waiting for news from the new government"
I'd argue we're in a holding pattern pending further updates of funding (or lack of)
She said in a recent interview they won't be providing a running commentary of discussions behind the scenes but there needs to be some continuous engagement! We're in a holding pattern right now waiting for news from the new government, we know they're about to release a green hydrogen strategy and industry is pushing hard for a coal to gas strategy with the current gas crisis - we just need to know something is happening
Hopefully some kind of funding package to throw everyone who has doubted Naheed :)
- Fundraise. Can't see it being too far off now unless they've secured near term funding in another way
- After yesterdays GCM RNS with Power China, could something materialise with THAR?
- Gold news/drilling from NZ?
- Funding for Green Hydrogen
Coming up to the end of Q1 now and it just feels like we're floating through 2024 with dilution feeling imminent. Hoping Naheed can soon ease those concerns and give us some guidance, or is that asking too much?
Yeah and looking back on GCM RNS reports, it all started with MoU's, followed by an MoU extension with Power China, which obviously is the first kicker and sign of something progressing.
https://www.lse.co.uk/rns/ORCP/mou-for-132-gw-coal-power-plant-8211-thar-block-vi-x4zw3vntwjbds3r.html
This was our MoU for an initial 12 months which will be up in May so I guess we'll soon find out if an extension is on the cards, any developments or it all amounts to absolutely nothing
It is the same company - Power China - that is involved in both projects.
I agree, though, that the main stumbling block is the 'green' CEO but even she might be forced to change her stance or risk losing her job and any value to her large holding in ORCP shares.