Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
When oil prices collapsed in 2014, the flow of money into energy projects in the North Sea dried up. Investments dropped to less than £500m in both 2016 and 2017, after reaching as much as £17bn in 2011. Companies, after all, were less keen to invest in new projects after their potential returns had just been marked down significantly. But others have seen it as an opportunity to strike. In November 2016, Siccar Point Energy — backed by Blackstone and Blue Water Energy — purchased the North Sea assets of Austria’s OMV for $1bn. It marked a turning point for the region’s fortunes. Over the past two years a number of new companies have burst on to the scene and are shaking up the industry. Many are backed by deep-pocketed private equity firms, which are sitting on record sums of dry powder. So far, more than $12bn of private equity money has been pumped into offshore oil and gas assets in the UK North Sea that had gone unloved by the oil majors. The North Sea is fertile ground for private equity-owned companies. With assets on the block from the likes of US majors Chevron and ConocoPhillips, another $13bn of private equity money is expected to be pumped into the industry this year. One of the biggest factors behind the sea change? Regulatory changes that allow buyers to offset future decommissioning costs with tax relief.
As far as I’m concerned anyone that wants to spend that sort of money is a BIG positive. I will be topping up today and genuinely see this multi bagging over next six months.
GLA
This will be an MM’s dream over the coming weeks. Sit back and enjoy the ride.
Good times are here...
GLA.
Excellent. The more coverage the better. The masses will arrive next week!
It amazes me that still some negativity being posted this morning. This is arguably one of the greatest results AIM has seen given a JV with such a Major.
This is an unbelievable result. Sit back. HOLD. Watch. oh and DYOR.
SHELL JV!!!! It’s show time.....
Great News. Looks like all will fall into place. I work in M&A and nothing ever runs to time. The fact it’s only a week extension is a very positive indicator. GLA
its on now!!
I'm confident that this is going to play out nicely with plenty of upside!
GLA
No real support or decent volumes for weeks yet SP holds firm. News shortly. GLA - HOLD!
Deramping again Riz? On what’s basis is “sub 2p” on the cards?
Well done all the long term holders that are here, Spud et'al....
Seems that Dana's passion was right all those months ago.
GLA
It’s only a term sheet. It’s not a credit backed offer.
Looks interesting, although expensive and depending on the proposed security structure of the debt, it speaks volumes for the confidence and the potential upside for the business if they can raise that amount of debt! IF this turns into a credit backed offer it’s a great sign and will indicate very strong CFADS. Looks like this could all finally be starting to come together! GLA
Looks a decent opportunity. I was with an MA advisor last week who advised on the recent sale of a Gas Storage Business. The amount of money could have earned during last years cold winter was staggering!
Mugam - Exactly my thoughts, I was in BPC at the time. Although this is GAS which is much more appealing. Lets hope its a better outcome than BPC had. Could get to 8p+ by Jan.
This has started like a steam train!
JIm - Great post!