Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Beating the consensus street estimate for revenue with 10m, this should go towards 30 again.
says lender misinterpreted requirements on rwa, has communicated with regulator, will hold more capital against mortgages.
APOLLO-RPC DEAL COULD BE ANNOUNCED TUESDAY: WSJ
Chevron is reported to be selling its UK North Sea portfolio, including a 19.4% stake in the Clair field, plus stakes in Alba, Captain, Elgin/Franklin, Erskine and Jade as well as the Britannia platform and its satellites.
It is unclear if and how the package might be broken up, as potential buyers including private (Chrysaor, INEOS, etc.) and public companies focus on their core areas and strengths.
Premier is an established UK operator with a sizeable operation in Aberdeen, and the acquisition of a package of producing assets would enable it to unlock value tied up in its $4.1bn of UK tax losses and capital allowances.
Given these synergies any acquisitions at fair prices should be value accretive.
However, we would not expect management to put its balance sheet at risk and/or issue shares at a material discount to the current share price.
With oil prices having gyrated since Chevron commenced its rationalisation process last year, the outlook for the seller and the attitudes of the potential (competing) bidders may have hardened.
We understand that the sale process is still in its early stages, and with all attention currently fixed on Chevron it would be worth considering what other, lower profile, opportunities might exist.
We believe any sizeable deal by Premier would require a combination of debt and equity given one important rationale for the deal is likely to be reducing debt leverage.
The company ended 2018 with a net debt to EBITDAX ratio of 3.0x and accounting net debt of $2.3bn.
Increasing Premier’s focus on the UK makes sense from the perspective of accelerating the use of its $4.1bn in UK tax losses. The sale of non-UK assets may be part of a plan to fund North Sea acquisitions, but we think time constraints mean it is unlikely to be part of the initial funding solution for the Chevron package.
We view the 25% stake in the Zama oil discovery on Block 7 offshore Mexico as Premier’s most marketable pre-development asset.
We value the stake at ~$250m on a risked basis, with appraisal drilling ongoing.
In December, DEA agreed to acquire licence partner Sierra Oil & Gas for ~$500m, which we estimate provides a mark-to-mark valuation of Premier’s stake of ~$300m.
production in first 2 weeks averaging above 90 kboe/pd
to look at opportunities to buy UK north sea assets
NO guarantee group will bid in any process
You seem hilariously uninformed about trading Joe, your last sentence is spot on though.
post them on Imgur and send the link
Pantheon proposes purchase of 66.6% in Vision, to issue 3,5million shares
it was just on bloomberg
12/12/2018 16:56:09[BN]
Tanzanian government on a $300 million payment, a milestone toward resolving a dispute that has crippled the miner’s subsidiary in the African country, according to people familiar with the situation.
Executives from the Toronto-based producer and Randgold Resources Ltd., which is being bought by Barrick, met with Tanzanian negotiators on Dec. 7, said the people, who declined to be identified as the talks are private.
During that meeting, the two sides made significant progress on a deal that includes Acacia Mining Plc paying $300 million in installments.
The terms are now being handed off to a tax working group in Tanzania for review, the people said.
Once that group is satisfied with the numbers, the deal would have to be reviewed by Acacia’s board and the U.K. listing authority, and then voted on by shareholders, which could delay a resolution.
Tanzania’s president, John Magufuli, would also need to review the findings of the group to be certain it’s
in the best interests of the country, one of the people said.
Barrick, Acacia and Randgold declined to comment, as did Idris Kikula, chairman of the state-run Tanzania Mining Commission.
being mentioned as interested in taking over
Should've seen it coming with Kiers rights issue, that's a damn shame.
Discloses a 5.01% stake
OPEC Meeting Comes To End With Agreement On 1.2Mln BpD OPEC+ Cut - Delegate
This will rerate up, just like plus500.
Still a massive cashcow in the current choppy markets.
should've listened
well shit, I was planning to gift one this weekend to a friend.