Member Info for DreamOn

Do I have the wrong company or did UJO get the name of the company wrong in their RNS?

When I saw this news I thought about writing a facetious comment along the same lines with a quote from back in the day when Lenigas was spouting how much it was worth. So I googled Lenigas and Horse Hill to find the quote and blow me down - it is Lenigas who is buying Horse Hill for £1m !!!

I take it you don't know that Neura was bought out by Etana?

According to the interview I was right in my speculation on what the implications of the financial guarantee were. The benefit to Etana is that they can now provide a 3rd party guarantee to potential suppliers of renewable energy so that they, the suppliers, can raise funds to build renewable energy projects. By being able to provide the guarantee Etana make them a more attractive partner to the potential suppliers. The Wheeling industry is relatively new to South Africa and there were originally only 6 licences but now as they become more attractive NERSA has recently decided to issue 4 more which is being contested. Etana's competitors in RSA include a JV between AngloAmerican and EDF so there are some big players in the market and Etana needs an edge to attract more suppliers which they now have. Just to be clear this guarantee package announced today provides security to lenders to potential suppliers of Etana energy. Etana don't get their hands on any cash as a result.

I could be wrong, even probably wrong, but my interpretation of Guarantee Financing is that if does not provide finance to Etana, it allows Etana to provide a Guarantee to Financial Institutions willing to fund development of Renewable Energy projects by future Etana suppliers of wheelable energy.

Key word is 'bankability' if it is a word at all. My first job in South Africa back in the 80s was at Duhva Power Station as it was being built so I have always had an interest in RSA Electricity production. Etana got in to this new wheeling industry at the start so have one of the few licences available. There is certainly a market for these licences now so how much is it worth? Possibility is to float on the JSE, be bought outright by a competitor or bought by a new entrant. What does seem certain is that Chariot will want to realise the asset value sooner rather than later as substantial income returns on wheeling in South Africa are a distant prospect although will come eventually.

Actual interview video is on this site but cant post link as it is in arabic https://asharqbusiness.com/

I have a feeling that a float on the JSE is not too far away for Etana Energy https://solarquarter.com/2024/05/28/petra-diamonds-secures-long-term-renewable-energy-agreements-with-etana-energy/

https://www.proactiveinvestors.com/companies/news/63868/update-sound-oil-threatens-hostile-bid-for-antrim-energy--74630.html

We have had several days now without wind, low cloud cover and freezing temperatures while Russia have reduced gas supply to Europe and are threatening Ukraine. Meanwhile gas prices are spiking ever higher. I am not sure the two sentences are connected in any way .........

Victory business plan looking for 57p a therm? Gas price went up by that amount this morning!

This time more beneficial to Cairn I think https://www.marketscreener.com/quote/stock/PHAROS-ENERGY-PLC-4001087/news/Cabinet-approval-on-the-El-Fayum-Amendment-36853228/

Quite a significant update on Parta released overnight by ADX in their quarterly update.

I suppose it is possible that the votes from the major shareholders may be contingent on what happens with India so there may be relevant questions put to the Chair prior to the vote. Contrary opinion on what might happen to the SP should shareholders overturn the decision of the board I would expect the SP to drop as it signifies a vote of no confidence.

Interesting report. However the gas prices at that time were not 50p a therm. In 2018 they would have been looking at the futures market for gas in 2021 at the earliest and in 2018 those futures were 30p a therm and on a downward trend.

I wouldn't bet against it being quite soon to raise cash. All they need is an offtake MOU with the Greater Laggan operator.

Operating State CA
Production Dates Jan 2018 - Jun 2021
Total Oil Production 157,029 BBLs
Total Gas Production 77,569 MCF
Estimated Daily Oil Prod. 148 BBLs
Estimated Daily Gas Prod. 52 MCF
Estimated Daily Water Prod. 205 BBLs
Producing Wells 6

From ShaleXP.com

"The strategic investors have indicated their support of an initial public offering ("IPO"), reverse takeover ("RTO") or similar for Corallian, which is in line with Reabold's strategy of clearly identifying monetisation opportunities across its portfolio. The strategic investors have also signalled their intention to support Reabold in facilitating further potential strategic value creation opportunities across the wider Reabold portfolio."

Yesterdays RBD announcement reminded me of this: (it was later P&A)

06-04-10

Hykeham-1 Well Update

The Directors of Europa Oil & Gas (Holdings) plc wish to provide an update on
operations at the Hykeham-1 well. The well has been re-perforated and a pump
installed to lift the well. To date, the well has produced only small volumes
of liquid and some gas. This result is completely incompatible with both the
wireline log and geological data from the well.

The well will be shut-in until the analysis is complete and a decision is made
on the forward programme. If this analysis concludes that remedial action is
not appropriate, the well will be abandoned.

Paul Barrett, Managing Director, said `I have experience of many wells over
several decades and never seen such a mismatch between the test data and the
geological data for the reservoir. We believe that this reservoir is
oil-bearing and will flow given the right completion conditions and will be
working to achieve this over the coming months.'

There is actually an ongoing dispute at the moment where interrupting gas supply is being leveraged. Algerian gas flows through Morocco to Spain and Morocco are threatening not to renew the agreement. https://www.spglobal.com/platts/en/market-insights/latest-news/natural-gas/063021-algeria-has-taken-necessary-measures-to-offset-non-renewal-of-morocco-gas-deal