Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Glencore’s $400 million facility commitment is a strong endorsement of our business plan and strategy. Today’s announcement demonstrates our ability to access long term capital from a variety of sources and this facility is a material step in our refinancing strategy, following the successful and equity accretive tender offer in June. The proceeds from this facility, together with cash on balance sheet and $800 million of free cash flow expected to be generated during 2023 to 2025, will allow us to fully address all outstanding 2025 Notes and positions us for a successful refinancing of the 2026 Notes.”
https://www.tullowoil.com/media/press-releases/tullow-secures-400-million-five-year-debt-facility/
Let’s see if this is what has been holding up the Kenya pipeline FDP?
Gl all
https://www.worldpipelines.com/business-news/26102023/major-milestone-reached-in-uganda-oil-project/amp/
Let’s hope they are attracted to our world class Jubilee field, maybe this is why the gas sales agreement and TEN development FDP is taking so long.
Gl all
https://mobile.ghanaweb.com/GhanaHomePage/business/US-oil-giant-set-to-return-to-Ghana-Energy-Minister-hints-1867814
I’m sure in the last update the CFO said that from July were generating $35 million FCF a month at $80 POO since JSE came online,
Hopefully in the next update, we will have an increase in FCF at year-end of $150 - $200 million, now that would turn some heads.
Only a matter of time until this pop’s.
Gl all
Next update 4 weeks tomorrow.
$90 oil should see a nice 👌 increase in FCF at year-end.
Arbritation case starts 2 weeks tomorrow, with hearing due to take until Q1 2024.
A lot going on in the next 6 months.
Gl all
Q. What is the date of the arbitration hearing next month?
A. The arbitration with regards to Branch Profit Remittance Tax will commence in October, but a result is not expected for approximately six months afterwards.
GL ALL LTH
Q. What is the current daily Production figures.
A. We don’t provide day by day production guidance. As per our recent HY Results: the non-operated portfolio is producing in-line with expectations around 14 kboepd, TEN is producing in-line with expectations around 11kbopd and Jubilee, following the start-up of Jubilee South East is producing over 39 kbopd net (over 100kbopd gross).