Member Info for Apeirogon

The Baku–Tbilisi–Ceyhan carries 1mio barrels of oil per day so about 1% of global usage. Its existence seriously annoys the Russians as Azerbaijan was a former republic and ought to pay tribute to their former masters. Russia/Armenia have unsuccessfully attacked it before. Any damage to the pipe would raise tensions with Turkey.

A short squeeze only happens when there are shorts…. reduced shorts means reduced squeeze. Just sayin’

More and more positive news building around Kenyan assets

Modi predicted India’s share of global oil demand would rise from 5% to 10% (unspecified timeframe) so capturing production opportunities will be a key national strategy. MS are very bullish on ONGC.

Reading between the lines : there is a deal to be done in Kenya with OGNC provided the right “conditions” are met with those in power.

Ghana have just announced 80% acceptance of their domestic debt swap as a prelude to the IMF bailout. The IMF does not like countries mucking around with International companies.

Oil nicely in the Green today as Russia cuts production….

Where did ONGC talks get to in the summer re taking a stake in Tullow’s Kenya assets ?

If you want to see how a banana republic really behaves look at the 75% the UK is charging Harbour Energy….. and be grateful!

TLW debt rating is constrained by the Sovereign Ceiling of Ghana…. which is a basket-case and will probably default on external borrowings.

I am long and enjoying the ride. The company is well positioned in an emerging set of industries. Nevertheless, Standard Industries won’t be able to raise funds currently. They own 5%. Who are these other Americans to whom you refer please?

Standard Industries debt is north of 8%. Not convinced they will increase their holding any time soon.