Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
Maybe you should read this RNS again rather than anonymous BS posted on BB's
https://www.lse.co.uk/rns/TLW/jubilee-field-producing-over-100000-bopd-dn8sv9eyqt9hxrp.html
PS: The report is up to June however was released today.
https://twitter.com/EPRA_Ke/status/1735565574296490087
Kenya not as dead as some might think......
https://www.epra.go.ke/energy-petroleum-statistics-report-for-the-financial-year-ended-30th-june-2023/
5.1 Upstream Subsector
The Kenyan government is presently in the process of evaluating the Final Field Development Plan (FDP), which was
submitted by the Kenya Joint Venture (KJV) partners in March 2023. This comprehensive FDP outlines a strategic
roadmap for the development of resources within the Block 10BB and 13T licenced areas, as well as additional appraisal and exploration activities aimed at optimizing resource extraction within the designated development zone.
The development strategy revolves around a well-structured, phased infrastructure-driven approach, commencing with
the most sizable and technically advanced reservoirs. In order to achieve the production of first oil and support the
initial production plateau, the Ngamia, Amosing, Twiga, and Ekales fields, collectively referred to as “NEAT,” will be
developed within the first five years of the production period.
Subsequent to the commencement of first oil production, an Exploration and Appraisal Plan will be implemented with
the primary goal of prolonging the plateau period. This will be achieved through the reduction of risks associated with
contingent resources and the addition of new discoveries. The development of Agete, Etom, and other fields within the
Development Area will follow the successful execution of the Exploration and Appraisal Plan.
During the initial development phase, core infrastructure elements, including field access infrastructure, central processing facilities, gathering systems, and the Lokichar to Lamu Crude Oil Pipeline (“LLCOP”), will be installed. This
foundation will not only facilitate future expansion but also leverage existing infrastructure to generate incremental
development value from both existing and forthcoming discoveries. The development aims to tap into a discovered
Stock-Tank-Oil-Initially-in-Place (“STOIIP”) range spanning from 1,620 to 4,573 million barrels and anticipates the
recovery of an estimated 240 to 971 million barrels of Contingent resources over the course of the 25-year contract
period.
Just a theory .... however everyone assumes that the US and the Saudis are battling each other over the oil price. To me it seems they're cooperating more than we think and they seem to have a cosy little arrangement. The US drop the price under $80 using negative data/media spin everytime they make a purchase for the SPR. Once done oil ticks back up over $80. Keeps Saudis happy and the US happy. Seen this pattern happen quite a few times in 2023. I think it won't be long before oil is back over $80.
Nice to see the directors doing some Christmas shopping at the sales. Last time he bought so did the rest of them. Wonder if it's the start of a few of these RNS's.
In other news we should hopefully get an RNS tomorrow on the 2025 notes tender.
"The Tender Offer will remain open until 5:00 p.m., New York City time, on December 14, 2023, unless extended by the Company"
A gamble it certainly is....
DestituteBroker who bought 30m in June? As far as I can see the only recent RNS regarding holdings is from November when Samuel Dossou-Aworet upped his stake from 16.60% to 16.80% (resulting in a holding of 243,635,633). He's had a significant holding for quite some time, however doesn't seem to get involved as far as I can tell.
https://en.wikipedia.org/wiki/Samuel_Dossou-Aworet
Does anyone know when the Ghana Petroleum Commission update the monthly production figures, as we still don't have numbers for September or October yet. I tried emailing them to ask when they were going to update them and no response. I also emailed Tullow IR to ask what they were or if they knew when they'd be updated and also no response.
https://www.petrocom.gov.gh/production-figures/#
Bad analogy given that is going ahead ... albeit not all of it.
One of us is right and one of us is wrong. We'll know next year who it is. The increased production in Ghana and bond buy backs are enough reason for me to hold. Kenya would be the icing, champagne and caviar piled up high on the cake.
Https://www.pulselive.co.ke/news/local/president-ruto-announces-that-kenya-has-slowed-down-any-investment-in-oil-exploration/f5jzy1f?utm_source=Twitter&utm_campaign=pulse-kenya-page-post
Surely if getting the oil out of Turkana was off the table he'd simply be saying they're not exploiting any oil reserves.