Member Info for Auson

Tacotaco,

I'm not suggesting anything, You said Sealion is deep water and OCTP is shallow.
Sealion is not deep water.
Do you know the API of the crude at OCTP ?

Tacotaco,

Is that really all you know ? Ghana is shallow water ? Sealion is deepwater ?
OCTP Ghana block water depths range 600m to 1000m
Sealion water depth 450m

biochelm.

Yes PMO is much cheaper, Mrd5432 and myself know it well. So does the market, banks, hedgefunds, traders, shorters ! etc.
Lots of other metrics need to be looked at EV to EBITDA NAV, FCF, 2C 2P Also if you add lease liabilities to net debt, it increases the net debt to EBITDA there significantly. Same with Enquest, especially when you take out the OZ loan.

Tacotaco,

You make some good points there, whats the water depth on Ghana offshore ?

Dmode,

What the 45 million shares AZVALOR bought ? Not sure would have to look over the volumes over last 2 days, could be. Wouldn't be surprised if some shorters jumped on first thing. They could have shorted in the 170s.

Dark knight2020,

That one was quite straight forward, have you looked at the Goldman ones on PMO ?
If the Spanish fund were buying 3.2% at between 150-180 I bet they were buying yesterday too.
Might be worth researching AZVALOR Asst mngmnt, see what they are about ?

Dark knight2020,

Position of previous notification if applicable ( there is none, so its blank )
Resulting situation date threshold crossed 3.2389% date 13/11/19

Meaning they bought that lot on the 13th. I saw all the buying that day and now we have the confirmation. There was a large buy at 180p on the 13th !

laidback,

By the way you might want to check your sums before you start warning people on here.
The Enterprise Value is £4.24billion not £4.8billion. You've just made a £500 million mistake !

laidback,

Have a look at the NAV while you are at it. Well above market cap.

Mrd5432, tindrumgambler,

The RNS shows massive buying on the 13th by that Spanish outfit and all their mates, to the tune of 3.23% of the company.. Thats welll over £60million !
I've bought more !

Tacotaco, Lack of financing are you sure ?

UKEF recently funded $1.5bn to develop Ghana offshore oil and gas. They used the same Broker/ lawyer that Premier Oil are using.
https://www.natlawreview.com/author/oliver-irwin
Premier Oil Sea Lion Development — representing Premier Oil in connection with the proposed project financing of the Sea Lion offshore oil field development in the North Falkland basin
Financing of Vitol participation in OCTP oil and gas field — representing IFC, UK Export Finance and eight commercial banks in connection with the $1.5 billion financing of Vitol’s participation in the development of Ghana’s Offshore Cape Three Points (OCTP) oil and gas field. This multi-sourced quasi project and reserve-based lending (RBL) financing also included a Multilateral Investment Guarantee Agency (MIGA) covered facility and benefited from complex World Bank support arrangements in relation to the gas offtake. The project’s overall cost of approximately $7 billion represents the largest foreign direct investment in Ghana’s history, and UKEF’s largest direct loan to date.*

UKEF recently funded $1.5bn to develop Ghana offshore oil and gas. They used the same Broker/ lawyer that Premier Oil are using for Sealion UKEF application.

https://www.natlawreview.com/author/oliver-irwin

Premier Oil Sea Lion Development — representing Premier Oil in connection with the proposed project financing of the Sea Lion offshore oil field development in the North Falkland basin

Financing of Vitol participation in OCTP oil and gas field — representing IFC, UK Export Finance and eight commercial banks in connection with the $1.5 billion financing of Vitol’s participation in the development of Ghana’s Offshore Cape Three Points (OCTP) oil and gas field. This multi-sourced quasi project and reserve-based lending (RBL) financing also included a Multilateral Investment Guarantee Agency (MIGA) covered facility and benefited from complex World Bank support arrangements in relation to the gas offtake. The project’s overall cost of approximately $7 billion represents the largest foreign direct investment in Ghana’s history, and UKEF’s largest direct loan to date.*

Richard5634234,

Add to that most SUV EV are over 2 tons so more tyres brakes etc. Much more Aluminium and carbon fibre used in EVs energy heavy to manufacture. Also upgrades to power lines charging stations incentive schemes to scrap perfectly good older vehicles to replace with cleaner ones all extravenergy now to save later.

The first Electric vehicle was manufactured over 100 years ago..its the future ! There are not enough Rare earth minerals on the plannet to replace 1.5bn ICE vehicles. A wind turbine and a solar pannel take approx 3 years to replace the energy used in their manufacture.

Yanbu,

The PMO update says otherwise. ' Application to the senior debt is progressing well with the export credit agencies due dilligence process'

Garydav2,

This is a definate hold. After we get somecshale bankrupcies we will see 250s here again .

John46,

Sorry mate thats just not true. To make an Electric vehicle uses more energy than to make a combustion engine vehicle, hybrids too.SUVs also in high demand use more fuel. Besides aren't Germany still burning coal ? Aramco IPO is because they need $80 oil to balance their budget and currently shale is going full tilt..bankrupcies coming on the shale patch soon.

Gozzie2,

No bad news...have you filtered all the usual wingnuts on here ? I heard something about toast for 15p or something. Probably some penguin droppings later and some Liverpool hating of course.

stagecoach,

UKEF are financing fracing in Argentina to the tune of 1billion ! Regarding trouble we stopped selling Argentina spare parts for their strike force 30years ago.. I wonder why. Falklands Gov.t are on board with Sealion development and breakeven is $40 a barrel.

stagecoach,

https://en.mercopress.com/2018/09/21/falklands-could-allow-floating-hotels-for-oil-industry-workers