Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
Zaza said in the share holder meeting that without doubt we would be mentioned as we are the largest O&G operator in georgia
BAIS = BS (Bloody phone)!
No idea Tsbs, news to me But I’m sure the TW crew will make up some BAlS stories
GEORGIA DAY! We will get mentioned today when they are trying to get investment into Georgia. I don’t think that RNS is great as Timster says mentions court and arbitration and TW will try to twist. Let’s concentrate on the good things of which there is loads! GLA
We don't need to get it out...the super majors will!
Well for starters the WH Ireland valuation of Taribani if proven for just zones 9,14 and 15 is $484m which they stated equates to 2.38p/share if I remember correctly. That is eldari A only Zone 19 in eldari B seems to be better than all these zones plus you have more zones below. A super major on board would confirm they also believe in the resources and that they can get them out. In fact they have stated that there calculations show that the figures are greater than our internal figures. You must remember that $484m is for oil only, for zones Z9,Z14,Z15 only, Taribani only We also have 9tcf of confirmed recoverable gas 3.2tcf being in MK and 5.8tcf in Taribani We also have other firleds in B12 To used words once spoke of Zaza, “we see this oil and gas everywhere”! Once other things come into play then WH Ireland will give a new valuation which will be far greater than there conservative $484m
The company plans to approve a number of new projects that it has worked on with an assumption oil wouldn’t fall below $55 a barrel. At least two of these will probably be in India, he told reporters.
Each of the company’s projects will make money at less than $40 oil by 2021, Dudley said.
https://www.energyvoice.com/oilandgas/183618/bp-says-bye-to-low-prices-as-it-plans-projects-for-60-plus-oil/
BP boss Bob Dudley, among the first to say oil will stay lower for longer, is becoming more confident.
In a sign of the improving times, the British oil major is now planning its investments at $60-$65 a barrel oil, raising it from $50-$55 last year, Dudley said Wednesday at the Oil & Money conference in London. While he doesn’t expect sustained prices of $85, it’s unlikely to plummet again.
Some of the world’s most influential traders see a broad range for oil prices in the coming months. Glencore Plc’s Alex Beard said Wednesday crude could rise to as much as $90 a barrel in a year’s time while Vitol Group Chairman Ian Taylor predicts $65. Because of this uncertainty, Dudley, Royal Dutch Shell Plc’s Ben van Beurden and Total SA’s Patrick Pouyanne reiterated this week they won’t loosen their discipline on spending, even as they churn out huge amounts of cash.
“Are we now off to the races again with spending? My sense of the industry is it learned such a painful lesson,” Dudley said. “Capital discipline is really important.”
Still, higher prices may remove some spending “tightness,” even as BP will stay within its $15 billion to $17 billion annual investment budget, Dudley said. The company plans to approve a number of new projects that it has worked on with an assumption oil wouldn’t fall below $55 a barrel. At least two of these will probably be in India, he told reporters.
Each of the company’s projects will make money at less than $40 oil by 2021, Dudley said.
Balanced, But Volatile
Supply and demand in the oil market is balanced, he said, though prices remain choppy. Much of that is “emotional” as traders gauge the impact of U.S. sanctions on Iran’s exports that kick in early next month.
“It’s a very volatile crude world right now,” Dudley told reporters. “It could spike up and it could go down now. There are decisions that could be made that drive it either way.”
Brent crude has gained about 20 percent since mid-August, helping oil companies boost their cash coffers. BP’s priority remains to use the extra money to reduce debt, Dudley said.
The company expects to complete a $10.5 billion acquisition of BHP Billiton Ltd.’s U.S. shale assets this month, Dudley said. It’s progressing on a $5 billion to $6 billion divestment program to help pay for the purchase as it opens data rooms for older North American gas assets, he said.
we are 7% up now!
Timster, I agree after seeing that Shell link regarding the rate at which they want to develop those wells in Australia (250 new wells in 2 years, just over 10 a month).
I could very well see that once the major signs a deal they will want to exploit the resources and get a return asap and get the field into production. Maye they will do 20 news wells for example to Z19 and target 10,000 bopd by the end of 2019, plus one or two wells to go to the deeper zones for exploration (inc. Niko#1 sidetrack) and once proven then drill another 20 brand new wells to those zones. Basically with a super major on board they have the resources to throw serious money and expertese at this.
very very exciting times ahead.
I totally agree ODR, I was at the meeting and have since listened to it twice since (many thanks Pyro for the recording).
I am willing to wait as long as needed for the deal to be done and some patience is required (although I do not think it will be long and maybe the first deal will be done in October).
The reason I say that is Niko drill was originally planned for November, they are still negotiating if the hedge fund is willing to fund the drill to Zone 25. Zaza stated that this will not be done alone and that will also form part of the deal and next program of work, so I do not expect to see a separate RNS on this point alone. Additionally, the two super majors are currently competitors and one seems to be a bit more advanced than the other, if they want the deal done, maybe they will want it signed before a better deal is offered by the other if they are after the same thing.
As I said earlier as long as we remain with the NDAs in place we are in a very good place and I truly believe a deal will be made. If both super majors walk away then maybe it would be time to rethink but as it stands there is no reason to suggest that would happen.
This Christmas maybe one we will remember!
GLA!
At the end of the day whilst the NDAs are in place, the majors are still on-board and a deal can be done.
I fully expect a deal to be done and this year as all parties will want to exploit B12s potential.
The NDAs are in place for up to a year, that is the worse case timescale wise, but if they walked away that would require an RNS.
Like I say, I am very positive a deal is to be done this year, but if it overruns and the NDAs are still in place then we know they have not walked away, so patience is then required. Give the team the time they need to get the correct deal done.
GLA onwards and upwards.
Shell to drill 250 new wells at Queensland venture
http://www.miningweekly.com/article/shell-to-drill-250-new-wells-at-queensland-venture-2018-10-10
Energy major Shell has announced plans to produce more gas from its QGC joint venture, in the Western Downs region of Queensland.
Under the Goog-a-binge project, Shell will progressively drill 250 new wells during 2019 and 2020, which will connect the existing QGC gas processing plants and bring about 930 PJ of gas to market over the next three decades.
Shell Australia chairperson Zoe Yujnovich said on Tuesday that Project Goog-a-binge would further boost Queensland’s regional economy and demonstrated Shell’s commitment to bring more gas to market.
“Project Goog-a-binge will deliver more and cleaner energy for both our Australian and liquefied natural gas export customers for decades,” Yujnovich said.
“The project is expected to create or sustain up to 350 jobs, the majority of which will be in regional Queensland and generate business opportunities for local suppliers – a substantial and ongoing boost for the local economy,” she said.
Queensland Mines Minister Dr Anthony Lynham welcomed the announcement, saying that the latest expansion plan would help ensure sustained gas supply to domestic customers, as well as royalties to fund frontline services across the state.
“Most importantly, it will pump millions of dollars into local household budgets, local stores and local businesses for the next 30 years.”
Queensland Resources Council (QRC) CEO Ian Macfarlane applauded Shell for its continued support of the Queensland gas industry.
“More gas being produced is good news for all gas customers, both domestic and export. With a go-slow on gas development in New South Wales, and a blanket ban on some types of gas projects in Victoria, what the Southern states are really saying is they’re not prepared to support local jobs and local industry.
“Queensland is putting up its hand for more investment, made possible by a strong resources industry that creates jobs, supports regional communities and has paid A$387-million in agreements with landholders,” Macfarlane said.
QGC will start pre-construction and site preparation activities at some sites next month, with wells to start being drilled from January 2019 through to December 2019, subject to government approvals.
Mine shows as a sell as the price I got was actually under the bid price that HL had.
Not a lot, but it all helps.
I believe I have a very good chance of getting a higher return for my money here than putting it into a savings account.
Happy to have got in today after the small pull back, ready for take off.
GLA!
For BP’s Chief, Technology and the Environment Matter Most
https://www.nytimes.com/2018/10/09/business/for-bps-bob-dudley-technology-and-the-environment-matter-most.html
Many thanks Cheesie, same to you.
It was great to meet you also and others on here also.
It was a really positive meeting.
GLA
Another blue day is most welcome and agree with lots of people here, this is just the start, this is in fact just wheeling itself to the launch pad, the share was way oversold and is just getting back to the levels that it should have been (0.50-0.6 imo) before the 3rd Sept was released.
GLA onwards and upwards!
On October 4-5, Tbilisi hosted high-level talks within the EU4Energy Governance Project on the ongoing gas market reform in Georgia.
The EU4Energy Governance Project is a technical assistance project funded by the European Union, under the EU4Energy Initiative. This initiative covers all EU support to improve energy supply, security and connectivity as well as to promote energy efficiency and the use of renewables in the eastern Partnership countries (Armenia, Azerbaijan, Belarus, Georgia, Moldova, and Ukraine). The project targets policymakers working in the energy sector of Eastern Partner countries and helps them strengthen their legislative and regulatory frameworks as well as identify investment opportunities in key energy infrastructure projects. Within this project, the Energy Community Secretariat is delivering technical assistance to three Eastern Partner countries: Georgia, Moldova and Ukraine, which are fully-fledged members of the Energy Community. Regional activities of the project also involve Armenia, Azerbaijan and Belarus.
High-level talks held in Tbilisi on October 4-5 follow last year’s similar discussions on raising Georgia’s energy efficiency in general and this year’s April meeting on highlighting opportunities of EU gas market reforms. GEORGIA TODAY spoke to gas expert Peter Pozsgai of the Energy Community Secretariat on how EU4Energy will reshape Georgia’s energy market.
Pozsgai stated, “the role of our organization is to help contracting parties, in this case Georgia, to implement energy and environment-related legislation”. For Georgia, Ukraine and Moldova, we have legally binding frameworks, whereas Armenia, Azerbaijan and Belarus are participating but do not fully enjoy those opportunities the former three do.”
Pozsgai also said that “in the Energy Community Secretariat, we work on legal aspects of various project implementations. Georgia used to be an observer in the Community and several years ago submitted a request for full membership.”
This program called the EU4Energy is a recent project which started in 2016. The host of the program is entirely the EU. This program is a successor to the previous one called INOGATE, which was also managed by the European Commission. INOGATE was different from the nowadays EU4Energy program and consisted of five related components: energy policies, data statistics, transparency, legislative, and visibility. These five components were outsourced to various external organizations.
“EU4Energy's governance component is a EUR 6.8 mln program for Eastern Partnership countries, Pozsgai said. “This component represents part of the EU4Energy's bigger, EUR 21 mln initiative, which also covers Central Asia. EU4Energy's major aim is legislative and regulatory development as well as enhancement of investment climate for crucial energy infrastructure projects.
full article: http://georgiatoday.ge/news/12616/EU4Energy’s-Event-in-Tbilisi
This year I am going to be a lot more conservative.
So my prediction is 1.37p, I think we will spike above 2p on a deal with a super major and then there will be profit taking as most of the work with the super majors will be in 2019.
However, we could also be way above that if two deals are announced a couple of weeks apart.
Either way, I think we will be way above here at xmas time (again, a bit a deja vu)