GreenRoc Accelerates their World Class Project to Production as Early as 2028. Watch the full video here.
Leo, I tend to agree if I were a super major, but I cannot see a buy out or takeover as from what we understand we are only negotiating a deal with Taribani and MK Gas. A buy-out of the company would include everything, which means all of block 12, Moldova and Ukraine.
If I were a super major, however I may prefer a farm in to get Taribani, Zaza preferred a JV to keep full ownership, but who knows maybe a farm out of Tarabani and a JV on MK.
What I would say though, if for example Exxon do a JV with us for Tarabani. They would be doing this after going through all the data in detail, they will know what is there and they will want to exploit the resources as quickly as possible and they will have the cash and the technical resources to do so.
Malcy once said the SP should be on a different planet, once a deal is announced with a super major, I believe we will leave the earths atmosphere and be on our way to that planet!
GLA, very exciting times ahead.
I'm sure it is just a matter of time before that RNS comes Duster...maybe even before the end of the month, who knows...
The meeting has completely restored my confidence that we can make some serious gains in our investment here.
Tsbs, personally I think it was just an example.
If we get a deal with a super major, I would have thought they have done all their assessments and believe the oil is there in Tarabani and will want to turn there investment into profit asap. $25m would only give them 5 wells, I would have thought they may go for full field development, hence my 25 well example earlier.
He did also give an example later of $100m
How realistic/far fetched is the following? (I don't think too unreasonable)…
* FRR and a SuperMajor announce JV of Taribani
* 50/50 Spilt
* $125m initial investment by SuperMajor (meaning they carry us for our $62.5m share)
* The testing they have seen and done on T39, indicates they think with their expertise/experience/equipment/techniques they can obtain 1,000 bopd per a single brand new well in Z19
* 2019 well programme announced
* 25 new wells to target Z-19 in 2019
* 2019 Year End target 25,000 bopd
Don't forget that is just oil in Taribani and just Z19
Another deal can also be announced for the gas in Mtsarekhevi (as we know they are also looking at that)!
applegarth, you are not wrong yet, as the AGM has not happened yet :-)
That is likely to be before the end of Nov.
cost you post a link of the report please?
Supermajors - Largest Oil Companies
http://www.oilprices.org/largest-oil-companies.html
Supermajor is a term applied to the six largest Oil companies in the world - all non-state owned companies. They are also known as International Oil Company or IOC, as people often see them in financial news media across the world.
The six largest oil companies trade all over the world under various names, and these Supermajors are:
ExxonMobil (USA)
Royal Dutch Shell (UK/Netherlands)
BP (BP plc - UK)
Chevron Corp. (USA)
ConocoPhillips (USA)
Wikipedia states the list as 7 companies
https://en.wikipedia.org/wiki/Big_Oil
Jump to search
Chart of the major energy companies dubbed "Big Oil" sorted by 2005 revenue
Big Oil is a name used to describe the world's six or seven largest publicly traded oil and gas companies, also known as supermajors.
The supermajors are considered to be:
BP plc
Chevron Corporation
ExxonMobil Corporation
Royal Dutch Shell plc
Total SA
Eni SpA
with Phillips 66 Company also sometimes described in the past as forming part of the group.
Some quick points below taken from the meeting:
* T-39 producing much more gas than we ever thought of
* Very excited to have two SUPER majors in an NDA, making fantastic progress with a F/O, J/V deal
* Plan to drill Niko-1 to Zone 25, deal not confirmed with hedge fund yet, will be part of deal with major
* FFR have no problem paying YA in cash payments
* If there were no NDAs, wells would be in production by now
* 2 SUPER majors competing against each other
* oil more advance
* Moldova next after Taribani
* Eldari A - Z19 to Z15, requires frac 36-38 API oil
* Eldari B - Z19+, no frac, 41.5 API oil
* Will not use PB fund raise again
* We will be in a much better place within 3 months
How ironic there is a smell of gas outside America square
Bomber the RNS on 20/09 said the following No new material information will be released at the investor meeting. About to get tube see you there
I do not see that as the RNS stated no new information will be released at the meeting, meaning it would have to be out before.
To be honest we do not even know if there is going to be a presentation. The previous meetings the RNS said shareholder meeting and presentation this one does not
I’m just going for the mini burgers to be honest lol
I would like to know flow rates from the EWT, also are we still on track with 1,000 bopd by year end, is Niko sidetrack still going ahead in 3 to 4 weeks time? Also what about YA and majors...so many Qs Glad I’m on the train on my way to hear the latest instalment as comes have been very limited since the last meeting in May.
I still expect something by the meeting in the fo of an RNS. It will be an interesting meeting either way, but with a lot more hostile if no update prior to it
Here is to an interesting day and evening!
I would say yes we do deserve to know the EWT results. Two fund raises were made to pay for this well program, so they asked us to pay for the well programme which we did, out of respect they could tell us the flow rates, T45 has been testing for 6 months!
So mapp, you are a trader not an investor.
You have just said you sold shares on another stock, you have also admitted to selling FRR.
Each to there own, but you are trading by continuing to buy and sell shares, an investor generally buys and leaves them in for the long term.
is that it was stated only a maximum of two more wells in Taribani are fit for side-track, Niko-1 being one of those, which is due to start at the beginning of November this year all other wells are to be new wells.
The other wells that are to be added into the next well programme are to be new wells, who is going to pay for these wells? (this would be too expensive for a primary bid fundraise!). I would hope that one or two of the majors we have NDAs with will be funding these new wells and I assume the programme of work will be released in one go.
If the work on Niko-1 is still to be started at the beginning of November, then we do not have long to wait for the next programme of work to be released (it was initially going to be finalised in the middle of August). This in my opinion would include any deal with the majors.
http://uk.businessinsider.com/calls-for-100-oil-are-back-were-nowhere-near-the-end-of-this-rally-2018-10?r=US&IR=T
Calls for $100 oil are back —'We're nowhere near the end of this rally'
Iran supply fears will help drive oil "certainly" past $90 and likely above $100 in the coming months, Richard Mallinson, energy and geopolitics expert and co-founder of Energy Aspects told Business Insider.
Venezuela "played a really important role in accelerating the shift in the market" as well since 2016
“We’re nowhere near the end of this rally,” Mallinson told Business Insider.
Major oil traders in late September forecast oil at $100. Brent reached $85 per barrel today.
The price of oil will "certainly" go above $90 and is likely to spike above $100 in the coming months, says one expert. And it's not just looming Iran sanctions driving supply fears.
"We’re nowhere near the end of this rally," Richard Mallinson, energy and geopolitics expert and co-founder of Energy Aspects told Business Insider.
"Certainly Iran is in the spotlight, and I think its the main driver of what we’ve seen over the last month or two, but Venezuela played a really important role in accelerating the shift in the market ever since - really 2016, when its production started to fall."
Oil has been rallying as worries about Iran sanctions, which kick in on November 4, threaten global supply. Forecasts for a rise in Brent started mounting in late September, with oil-trading giants including Mercuria Energy Group predicting $100 oil by the end of the year while Trafigura Group said it expects it to pass that threshold in 2019. Oil traders speculating on future jumps in oil prices have also driven the price of options 'calls' higher. Oil today reached $85 a barrel and has been hovering at a four-year high.
Venezuela is a much overlooked, but smaller, catalyst, he said. US sanctions combined with the poor oil sector governance have seen that country's production drop by over a million barrels per day, or 1% of global demand, which has left a hole in the global supply.
But Iran is proving a bigger problem, Mallison said. Oil exports have already been hit by the November 4 sanctions and production is declining steadily to below 2 million barrels per day in September, when they used to be an average of 2.7 million per day.
The whole ecosystem of business involved in the physical trade are making decisions whether they’re willing to continue being involved in Iran or not, and the majority are saying no because they’re afraid of being cut off from US markets, Mallison told BI.