Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Workover SIA, CEY, SAVP, OPHR, TRIN & TSCO,
Soco completes sale of Angolan assets. https://bit.ly/2OGbHx8
Workover Just thought I’d direct you to another one I’ve just bought into Centamin. You may or may not be invested there. I’ve just grilled the Q3 results, quite heavily oversold imho. Worth a look. Just like to share my strategy of buying the dips only if they are worthwhile. As this board is used adhoc thought I’d throw in a little extra. Apologies to the rest of you guys. Please feel free to let me in on any opportunities that may be of interest. GLA
Why the sudden change in sentiment?
No relevance to the FTSE 250.
3.5million buy at 8:47.
Workover Ed Story made the quote after the announcement of the Egypt deal. I’ll try post the link. Article from Offshore subscription weekly. Workover here’s a decent E&P company that might fit your investment portfolio to add to your watchlist “Savannah Petroleum” (Savp.l). I won’t discuss it on this B.B. worth a watch or add to your watchlist.
5 our of 5 guys. It’ll be nice to hear from the regular guys and their thoughts - Agadem, Zengas, TTT, Nen, Rob and the technical minded gives a greater understanding of the specifics and analysis. GLA
Copied from other B.B. (thanks Ohisay) This is what he tweeted re Fortuna. Re Fortuna, it remains to be seen whether #OPHR concludes EOY. Price action, consensus says 'no'. It's priority for BoD & previous deal broke down in May. Company advantage = a c$600m cost recovery pool that isn't transferable to any new licence holder And that references the discussion after the results by Oliver Quinn https://finance.yahoo.com/news/edited-transcript-ophr-l-earnings-184207953.html?.tsrc=rss Of course, the PSC itself, as you know, has significant sunk cost into it. And that's quite a -- it's not a key, but it's an important driver of the economics going forward. So for anyone coming in now, whatever deal that we may agree with them, the project has access to that cost pool. The government, of course, is a partner in the project. So the government loss, on one hand, is a negative on the cost pool side. On the other hand, they realize it gets the project away in many respects because it's a big amount of money that gets clawed back. So I think people see that, too, on this point. They recognize that, yes, there's a scenario where people can see us. They can wait for this license to time out, but they have to make some big assumptions there about that. I think the other thing, which is not to overestimate our own strengths here, but we're several years into this in terms of project negotiations, project agreements with the state, with other parties and, particularly, in terms of gas terms and getting classic LNG agreements with the government to do a project. Now if we go away, those agreements, in theory, are floating out there, but there's a significant amount of work for anyone who would come in cold to have to do those. So I think our judgment is, when you balance that up against the potential opportunity for someone to come in "free" next year, I think the level of engagement we've got suggests that people realize that the intrinsic value of dealing with the current holder is actually quite high Again, no guarantees. We're being very clear on that. We don't have a deal, but we are engaged with multiple people. I think that thematic across the mall is quite clear as a driver to engage with us. So in that sense, that's why we remain engaged with them.
Unlike most other relatively small independent E&P companies SOCO is debt-free, and is now looking to expand elsewhere in Vietnam, the wider Asia region and North Africa, if suitable opportunities arise. “We think now is the right time to grow,” Story said. “Having come off the period of highs and lows, the industry is now at an intermediate level where things can stabilize. We think there will be a lot of M&A activity over the months ahead, and we don’t want to be left behind.”
The long stop date for satisfaction or, where applicable, waiver of the SPA conditions was 30 September 2018. SOCO is pleased to confirm that all substantive conditions precedent to the transaction have been irrevocably satisfied or waived. To allow a brief period to undertake the necessary mechanics of completion, the parties have agreed a further extension of the SPA long stop date to 5 October 2018. An update will be provided to the market when completion occurs.
Hopefully we should see a 7am RNS re: Angolan assets sale. Twice the dates been extending, should be put to bed tomorrow.
...Then another 250k taken after the 1st 250k and 1million.
It’s got legs today....
Bull run on Brent
The director buys where the 2 new directors. The buys are to bring them in-line with the BoD.
If going by previous drill results and announcements I’d expect Zumo 1 results to be announced. I am I wrong in thinking it could be a similar result to Amdigh as it’s taking the similar timescale. I could be wrong have limited knowledge would love to hear from Nen, Zengas, Agadem and Rob. GLA
Brent @ $56 Feb 17 - Sp was abou 160p Brent @ $85 Oct 18 - Sp at 88p Am I missing something? I’ve just been invested here recently, to me it looks very undervalued compared to peers. I believe Friday is the date set for completion of the Angolan assets sale. May be that’ll be the catalyst for a re-rate. The Egypt deal looks a perfect fit for Soco, imho, time will tell.