The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
"A joint proposal with development partner, PowerChina, will shortly be presented to the newly elected Bangladesh Government."
Has anyone an ideas on how long "shortly be presented" is, regarding the infrastructure joint proposal?
I'm still fairly new to this board.
The mms letting this go now.
Rig 111
Make & model: Global GSR Double
Rig type: Carrier mounted, workover/drilling rig
Depth rating: Drilling 7,000’ +/-, workover 18,000’ +/-
Status: Active, located on the North Slope, Alaska
Rig Capacity: Hoist 220, rotary 200, setback 200
Power swivel: Venturetech 150 ton, 12,000 lb-ft torque
CEO and Chairman appointments
Mr. Mullholland's technical expertise was instrumental in understanding the long-term value of the Barron Flats Unit miscible flood and acquiring it for such a relatively low cost. Through further geological study, he and his team have revealed a vast area of bypassed oil pay in the Cole Creek area, adjacent to the BFU. The prospective horizons are currently under Joint Venture negotiation with a respected industry leader. The BFU and the potential joint venture requires the singular focus of Mr. Millholland and the technical team. As President of COPLA, he will be well positioned to continue to add value and success to COPL, where his strengths in upstream hydrocarbon exploration and development will focus on completing the Joint Venture discussions.
"One thing that hasn’t been noted much is that the new discovery is more than one mile deep, and therefore falls under Federal Government ownership. This reduces royalty payments due from the standard 22% to private landowners to just 12.5%."
So whats holding it back?
"A dream field is in play, smack bang in the middle of the continental United States just as rare political bipartisanship turns to drilling.
However, there needs to be a joint venture. COPL does not have the financial firepower to develop this new Wyoming asset properly. Chevron, BP, ExxonMobil, Occidental Petroleum, EOG Resources, Hess, Devon Energy, Ultra Petroleum, Cimarex Energy, and QEP all operate in the state — arguably any would be happy to sign a deal."
Given the scale of our assets, at least $50m should be achievable (See below Longboat's JV on monday)
The joint venture will be renamed Longboat JAPEX Norge AS ("Longboat JAPEX" or the "Joint Venture"), with a goal of building a leading Norwegian-focussed independent.
Transaction highlights
Cash investment of up to US$50 million for 49.9% of Longboat JAPEX comprised of:
cash investment on completion of US$16 million;
a contingent consideration of US$4 million, payable on successful completion of a production acquisition currently under review; and
a further tranche of up to US$30 million, payable on a sliding scale following a successful discovery on the Velocette exploration well due to spud in Q3 2023.
JAPEX to provide the Joint Venture with a US$100 million Acquisition Financing Facility:
five-year facility to finance acquisitions and associated development costs in pursuit of the Joint Venture's strategy; and
JAPEX, founded in 1955, is a public company listed on the Tokyo Stock Exchange (m/cap ~US$1.8 billion) with proved reserves of 159 mmboe (2022/3) and production of 58,500 boepd (FY22). JAPEX's largest shareholder is the Japanese government (35%) via the Minister of Economy, Trade and Industry of Japan.
"JAPEX is very pleased that we have formed the partnership with Longboat for a Norwegian E&P business. We see a very strong alignment in the business expansion strategy in Norway and beli
This is what rns says about Longboat's change of name. Could we be seeing something very similar.
"The joint venture will be renamed Longboat JAPEX Norge AS ("Longboat JAPEX" or the "Joint Venture"), with a goal of building a leading Norwegian-focussed independent".
2017 news but shows a good track record.
McCarthy Tétrault advises on 5 of the 10 largest Oil & Gas deals of 2017
AUGUST 16, 2017
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Despite the unpredictability in the Canadian Oil & Gas industry, McCarthy Tétrault continues to demonstrate its strength having acted on five of the ten largest Oil & Gas deals of 2017 according to Mergermarket research.
Enbridge Inc.’s C$37 billion acquisition of Spectra Energy Corp. to create the largest energy infrastructure company in North America
Shell Canada’s C$11.1 billion disposition of its oil sands assets to a subsidiary of Canadian Natural Resources Limited (CNRL) and joint acquisition of Marathon Oil Canada Corporation with CNRL
Shell Canada’s US$2.5 billion joint acquisition of Marathon Oil Canada Corporation with CNRL
Parkland Fuel Corp.’s C$1.46 billion acquisition of Chevron Canada's Downstream Fuel Business
GMP FirstEnergy, as Valuator, of the common shares of Ithaca Energy Inc. in relation to a C$841 million cash takeover of Ithaca by Delek Group Ltd.
Given our market leading position, we have played a principal role acting for every type of transaction participant, from emerging producers and operators to industry conglomerates. Whether an acquirer, a target, or a private equity investor, we will work closely with you, providing strategic guidance and unparalleled legal expertise to get deals done successfully.
Not sure what this means:-
"Anavio will file an early warning report with the securities regulators with respect to the foregoing matters pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, a copy of which will be available under COPL's profile on SEDAR at www.sedar.com. "