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How long do you think they will stay suspended?
Al its like you have been reading my mail.. Lol
I expressed exactly those thoughts about Sahara and Nnpc to a friend a couple of days ago.... Like you I think that a lot more could be on the table than appears at first glance.... Even if it may take a few years to fully unwind.
pleasing rns this morning. i like the fact there is a pretty short time horizon on the conditional waiver, indicating a window for completion of the rto negotiations (and maybe also for commissioning the new pipeline). cashing in the $32m of the loan notes for a bigger share in the new project, if the rto happens, makes complete sense to me. i think they've pitched this right and it would still of course leave $66m outstanding. i'm fascinated to see what, if anything, happens to the Sahara holding in OML18. it would make sense to take them out at this stage and then see whether NNPC want to reduce their holding, as has been mooted previously. i repeat my view that this is a most propitious time for regional medium players in the Niger Delta, with the world looking short of oil, a rising oil price and the Nigerian government looking to encourage foreign investment. what better place to start than OML18 - a world class producing oilfield, which the operator and us have become expert in over the last 5 years and one which is about to get its own brand new export system?
I hope OF knows what he is doing with his latest shell and egg game, there goes our loan note income - talk about going all-in!
So by this passage in the rns today maybe no dilution will happen.
(the "Potential Transaction"). It is expected that, inter alia, as part of the Potential Transaction, the amounts owed to San Leon by MLPL pursuant to the Loan Notes will be taken into account in the overall structure and eliminated from the resulting structure.
You talk a load of rot afu, oil will be with us for many many decades to come, as for your vocabulary thats rot too, and for someone who as I have read spends all his worth on an oil company but hates the company, but pretends to trade up and down in tandem with sp , well that's rot too in truth.
for the avoidance of doubt this bill was presented to the Nigerian Parliament by President Buhari. it is his baby and its passing represents a personal coup for him.
other recent bits of nonsense you may have seen on this board recently: 1) '9p' 2) 'no one want stinky oil anymore' :-)
dis will be big spannur in works. greedy oil cumpunys not want to give back any monnies to local peoples to pay for smashing up and polushun of home lands.
But gbege bin shele wey dem announce say na only three percent allocation dem give host communities.
easy to understand.
indeed dat right all hullabaloo bill not passd yet as far as Nigeria laws dey concerned, di bill no go still be law until di president use im biro sign alias accent wetin di parliament don approve.
will president find biro soon he bin lookin for 20 year so far so hope so.
btw if anyone is interested in what actual West African pidgin english sounds like (compared to the phony version you may occasionally see on this board), the link below takes you to the BBC Pidgin service's coverage of the recent passing of the new petroleum law
https://www.bbc.com/pidgin/world-57689625
btw if anyone is interested in what actual West African pidgin english sounds like (compared to the phony version you may occasionally see on this board), the link below takes you to the BBC Pidgin service's coverage of the recent passing of the new petroleum law
https://www.bbc.com/pidgin/world-57689625
indeed observers say its approval is essential to attracting a shrinking pool of capital for fossil fuel development.
let hope it dont get delayed for nother 20 year. this is Nigeria we talkin bout after all.
indeed qf, as i believe a few of us have said over time, oil demand is unlikely to show any sign of abating any time soon. with investment in exploration by the majors reducing (ESG agenda etc) and reserves falling, the upward pressure on the oil price appears now to be relentless. this is why Trafigura and other major players are calling $100 oil. for countries like Nigeria, which are less concerned by the climate aspects of ESG, this is a boon as indeed it is for existing regional oil players like San Leon and its Nigerian partner Jite Okoloko. the Nigerian government clearly wants to encourage more investment by the likes of us. this will be a significant driver in the rto negotiations imo.
Fri 11 Jun 2021 12.07 EDT
"Oil demand is expected to bounce back by 5.4m barrels a day this year, one of the fastest climbs on record, and by a further 3.1m in 2022, pushing consumption of crude above 100m for the first time by the end of next year, the IEA said."
and it only be dun now because no one want stinky oil anymore.
no good bolting gate after horse has run away.
Leaders agreed earlier this year to sweeten the terms for oil companies in an effort to attract much-needed investment in an era of shrinking global cash for fossil fuel production.
so this not realy signed off yet then.
a project that has been in the works for two decades one step closer to presidential sign-off.
Yes, good news indeed - "This will help oil companies to collect money owed by NNPC".
'Why would you not talk about Nigeria??
This is the SLE board'.
sorry bout this, arsenal, looks like i brought in a virus from another board!
Exellent news sorry for the reprint Alaric.
www.reuters.com/world/africa/nigerian-parliament-set-vote-petroleum-overhaul-bill-2021-07-01/?rpc=401&
July 1, 20217:36 PM BSTLast Updated 38 minutes ago
AfricaNigerian lawmakers pass historic oil overhaul bill
apologies, arsenal. I missed the 'not' in your post. Back down to one troll tony
well, make that 2 trolls. you been hanging out in shady 'jurisdictions' again?
All - do you have your very own troll? Tony - do you know what jurisdiction means?
tony
Why would you not talk about Nigeria??
This is the SLE board
Yes Alaric, very nice - pity your talking about Nigeria. Well at least its a step up in terms of jurisdiction to some of your other holdings!