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Interesting the Morocco Oil and Gas Summit in May is sold out already, bit surprised at that. Chariot the main sponsor.
Apparently a few new operators booked up looking to get into the country including MOL, Harbour, Savannah and United accordign to the web.
I'd agree on Thompson.
It's currently a competitive farm in situation, ie more than one company interested. Several things will/would each give a significant boost to the share price well before first gas. 1. Gas sales agreement(s) 2. Financing 3. Farm in partner 4. FID 5. Update on deeper gas reserves during development drilling. We're waiting for 1. when/if that happens all the others become much much easier.
I'm personally not influenced much by Malcy saying FID will happen very soon although it's nice to hear. More by the words of Duncan the technical director after the last RNS, he was publicly making statements on behalf of the company that were legally binding.
Wise words and I'd agree on most. IR could really do with a bit of professionalism, just seems like the old boy's network, could do with someone a bit hungrier.
The IR-VR Morocco upstream thing was on yesterday, I don't know if it's on replay but Chariot mentioned a couple of times I believe.
Anyone got an upstream sub?
https://www.upstreamonline.com/field-development/chariot-poised-to-receive-bids-on-debut-moroccan-offshore-gas-project/2-1-1416934
Hew pretty much said they were farming out both Anchois and Lixus, they haven't got the ability to do it all by themselves.
Good the EPC tenders are already out so FEED must have finished a little while ago.
Hope he's right and the GSA are near term and very good the farm down is competitive.
Would be highly unusual to RNS FEED completion, it will just be part of a wider RNS.
Subsea 7 had Anchois down as one of ther few targets for full EPC target that they believe will go ahead in their results yesterday. They should know...
Spain/Repsol v keen to ensure this goes ahead.
GSAs tricker at the mo, see gas price volatility.
Absolutely agree from my experience outsourced IR are just a bunch of Henries who know where to go for lunch. I've talked to the Chariot people once or twice and keeping somebody good in house whose job depends on hard work is money well spent.
So far it will be $0.5m of shares, ie sod all. It's not much more than my gas bill last month and for it you get a private company that is trying to make money out of outsourcing water supply. You're not going to get many stories from the front page of the economist on a company that has the same value as a kit kat multipack.
Ah ok, so they've got 10% back in after wells drilled and namcor trying to find partner, at least it's in the orange basin though that's a positive. BW has been buying new 3D around Kudu to the south, considering extra drilling to try and add to reserves following the new discoveries.
Not massive but a lot better than a kick in the teeth.