Member Info for fecm

Potential for SL to be put up for sale?

The ADVFN guys seem a bit spooked by today's Chrysaor conference call today. Not listened to it myself Cyan seems to have taken it in a negative light. Anyone here listened to it or got a link to a transcript?

Yes Auson, I can't see why Chrysoar would want to keep RKH as a 40% shareholder when they could own the lot for a not huge takeover price. Lots of possibilities. I'm getting to the stage where I don't care which option they all go for so long as its not the 'do nothing' one!

Another good point made lsetown. PMO had no choice to farm out, the newco may well not need to. I'll certainly celebrate getting our 40% slice back!

No, unfortunately it hasn't. It was due to be all done by 31/12/20 but has had the time limit extended out to Sep 21. Hopefully they will sign up earlier than that but post PMO merger.

I agree, however shouldn't we assume 30% ownership with Navitas expected to come on board?

I posted this earlier -

""Key stakeholders requested early review of the OPEPs to ensure that an appropriately high standard of counter-pollution response was proposed. PMO provided these documents in good faith despite it being unconventional to prepare documents at this level of detail so long before operations commence. "

The executive summary contains this -

"FIG considers that advancing the OPEP process as far as possible is a joint objective for the Sea Lion suspension period."

In my opinion only, it doesn't sound like it's FIG driven at this stage. After all, there would be plenty time post sanction for FIG to make sure this was in place.

The point being made here is the reference to key (government) stakeholders requiring the document in advance.

"Key stakeholders requested early review of the OPEPs to ensure that an appropriately high standard of counter-pollution response was proposed. PMO provided these documents in good faith despite it being unconventional to prepare documents at this level of detail so long before operations commence. "

It says that the Oil Pollution Emergency Plan (OPEP) has been prepared to provide confidence to governmental and lender stakeholders how Premier Oil would respond to offshore oil pollution events associated with the Sea Lion project. It goes on to say that the plan has been developed significantly in advance of statutory requirements and out of sequence

We could also be on the short list of 'a few exceptions'. I agree with Arfur_Uggins though that we'd be better off without gov money.

I was merely answering your comment regarding tourism. FI economy will suffer in the same way ours does following a no deal which will make many things more expensive. All the more reason to get SL going for them.

"The UK has, on FIG's behalf, been pressing hard for tariff-free trade in loligo squid, which remain the largest export from the Falkland Islands to the EU market (primarily through the Spanish port of Vigo). The fisheries sector amounts to some 40% of FI economic output and generates a third of Government revenue. The imposition of tariffs in the fisheries sector could have a significant negative impact on FIG revenues. "

Did you open the link?

Further on from the link: -

"Land-based tourist figures (1,648 visitors) were up by 6.7% - the last time such figures were experienced was in 2007 - 2008 during the 25th anniversary of the conflict. FIGAS (Falkland Islands Government Air Service) flew a record 3,255 leisure trips during this year's austral summer season in addition to their scheduled services. Overall, the value of the sector to the economy is estimated to be about £18m."

"Tourism: had a record-breaking cruise ship season with 72,836 visitors, up by 16.5% over the previous year. The expedition cruise ship market also rose by 30% with 16,931 passengers."

https://www.fiassociation.com/article/1562/falkland_islands__prosperity___development__2020___21_july_2020

Imports, fishing & sheep all going to get more expensive. Tourism dead this year.

With a no deal now looking more likely, is it likely to put more pressure on FIG to get SL going?

I believe we have gone over $50 on the oil price. At least that's going in the right direction.

So far we've only discussed cars. Vans & motorbikes will need charge point. Lets not even start on lorries, buses, Emergency vehicles, tanks, snow ploughs, tractors, lawnmowers, chainsaws (you get the picture). Battery technology may have advanced since the Sinclair C5 however I think it needs vast improvements to meet the demand.

The documentary highlighted here a few months ago (by Mike JE?) really put things into perspective, but I can't find it at the moment.

Been topping up today Godders?

LTT, trouble is the concept of looking after a car, keeping it in tip top condition doesn't fit in with today's corporate throwaway world we live in. I've always kept my cars for 15+ years before moving them on - usually with a few years still left in them.