Looks like the financing negotiations are tough. Interest was originally 11.5% moved to 6% in last RNS an now looks like GL wants something else. My guess is that we will see some equity used here. Maybe at a premium to the current SP.
Also think that they will use the weekend to get this sorted and we get a conclusion on Monday.
The news is imminent.
The News could drop infra day IMHO
Looks like we have recognition what a 75% share in 4 billion dollars worth of Gas can do. Morocco are now spinning that Tendrara is their medium term energy solution at a country level. Maybe 10p after the news
Maybe up toward 10p if a credible financing partner is announced.
Imagine the price is shell farms into the rest of the license area. We know they are next door. We have the sweet spot and they know it.
well over a billion pounds worth of gas now has a route to market.
And that is from a tiny percentage of the total acreage. I think there may have been a realisation in Morocco that Sound holds al of the cards and has the best license onshore and they need to exploit it.
Very positive news flow to follow no doubt.