Member Info for cperkin

Fully agree BD, new year listing on the cards.

I would be very surprised if the Zubairs are not and have not been fully in the loop with their own negotiations regarding PSA terms to date.

The conclusion of the PSA terms = the licence imo.

Thanks GL, so a meeting after the PSA review is complete, so post licence.

They will have a few main pieces of info for the valuation Stick.

1.0 They are paying €30 million, so base asset value
2.0 The CPR's for the North sea assets + Tanzanian assets
3.0 Forecast production revenues of around 2,000 boepd and estimated earnings of €20 million full year 2020.
4.0 North sea NPV10 for producing assets is €40 million and the 2C is €60 million.

Sorry, missed a couple, I hope!
2019/2020 infill well on K09ab-A
2020 Chikumbi-1 Tanzania
2020 Helium-1 Tanzania
2020 KN-1 re-entry/workover
2020 3D Ruvuma/KN
2020 Sidetrack of A06 well (A06X) and hydraulic fracturing
2020 Workover of L11b-A09 well
2020 L08-D Drilling
2021 M07 Drilling
2021 infill well on K12-G

All published but expected....?
2019/2020 infill well on K09ab-A
2020 Chikumbi-1 Tanzania
2020 Helium-1 Tanzania
2020 Sidetrack of A06 well (A06X) and hydraulic fracturing
2020 Workover of L11b-A09 well
2020 L08-D Drilling
2021 M07 Drilling
2021 infill well on K12-G

+1 Stick + forward development plan for the conversion of the 2C to P

Going to be a very busy 2020 with production + Development.

Only thought is that come Monday next week we are no longer in the middle month of Q4 which would leave this Friday as the last date to hit their admission document publication date.

Not that I see any rush this close to year end now.

Need to see that licence before the Gov break up for Christmas!

Stuck Macaroo in the filter bin long ago.

If it provides no useful relevant and up to date commentary, save your time and bin it and spend the time doing some real research into stocks.

Maybe, I am not convinced that the size of the Ruvuma asset has been fully appraised yet with only one discovery and one appraisal well.

The value could be exponential pending a positive Jurassic result. I think the risk reward ratio is worth holding out for, Mike Rego, Hotel traps, oil in the NT-2 Cores.

For me, C1 is worth the risk of waiting till post drill & a CPR + revised asset value bearing in mind the drill cost before making any call on asset disposal especially considering the geological multi targets.

looking back with hindsight, the Zubair move was of course all about getting as much of the Ruvuma reserves as possible post NT2 drill. They put the money on and supported the risk with the 30% of AEX and now the farmout.

It's a large gas asset with an oil upside in the Jurassic.

Fair point there Stick, worth more with an appraisal licence, worth much more with a 25 year development licence and probably expect a considerable increase in resources post C1 drill with or without the additional TCF odd Jurassic target.

Hold the asset, flip it or part prior to FFD or be ready to cough up $35 million for 25% of 26,0000 boepd.

Maybe it's the second RTO deal, 2 more in late stages along with the one underway right now ;0)

+1 steve, the reminders of mortality increase as you age thats for sure.

Sure is, like steve said last night you have to question if it's worth listing before new year now.

Best Wishes Viking.

C

Mousey, have you have been nibbling at those special winter stored biscuits early again, those dark bits are probably not Cinnamon?

Lanzarote, more like Lanzapote ;)

Spud date required for full take off, be interesting to finally see what they have flowing down that hole.

AA, if it's never useful (bovine) then filter it, otherwise it's just a waste of your time.