RE: Re,3-12 months.10 Feb 2019 12:17
Jordan, I agree. Schlumberger have a production arm & the Tendrara would fit nicely into their plans I am sure. On buying us they could own a maximum 75% equity. They could even farm down 20% & recoup at least half their costs. In my mind they have to be the front runners. I have a feeling that some off-the-cuff remark James made to me a few years back about making Schlumberger pay may not have been about partnership costs, but rather the ultimate price to buy us...we'll see but I have often felt they would be our first choice when it came to handing the project over. Maybe they buy us & farm Shell or Repsol in - the other two front runners in the race to produce Moroccan gas in world class quantities. When James has been pressed about a 'Liquidity Event' he has always strongly maintained we will be sold after our current three well program...this has always implied to me that there is a tacit agreement in place with a suitor & the Moroccan Government (M6): a done deal with someone & just the usual 'horse trading' negotiations to follow. Of course, like any auction, some other party can come along & upset proceedings with a higher bid...but ultimately I believe Schlum will be the perfect match for the Moroccans!