Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
The simple answer to that is no. XTO were massively more advanced than frontera - not even on the same planet when they were brought out.
BGHE. Only 30% of its stock is traded - the rest held by GE which gives a market cap of around $90B. That defiantly puts it in the super major category to me. We do need more meat on the bone but this is an excellent step forward.
I do however think we are much more advanced in terms of data etc than we were in 2014 but I would be conservative with any projected farm out/JV values. A free carry on 10 wells would be good - it just depends what % of taribani is given up for this.
To be honest this is my concern around people’s projections. If the partner only wants to test the water a fund say 2/3 wells how will the market react to that? (Similar to the varang deal) - which effecting “sold” 40% of taribani for $36 mil
The company has stated that all payments in cash or shares have been suspended due to YA sell g stock which was not authorised by the company.
YA has issued a default notice demanding the repayment of the full $2m ish
As previously posted...
Outrider probably have a cross default clause in their contract with FRR - the default with YA has allowed them to try to call in their 2020 notes. It’s good that there’s an injunction in place - I’m not sure how long this will be in effect for - but hopefully long enough to correct the YA situation and move forward.
I’m really not sure how Thai effects any potential deal with a farm in etc but I doubt it will have any positive effect
Yes perhaps.
I would expect that frontera probably provided evidence in the FRR VS YA case to the grand court in order to obtain the injunction for the outrider vs FRR.
Could be wrong but I suspect out of all the theories it’s the most likely.
Having thought about this a little more I think the below is the most likely cause. Outrider probably have a cross default clause in place which has been triggered due to the YA ‘default’. Mr hope has probably seen this as a perfect oppertunity to try to take control of frontera. Hopefully they can rebut this claim fairly quickly. I would be interested to know what would happen in this event should we be able to settle with YA.
And to add to this the fact it HAS been granted is good news.
It’s important to understand what an injunction actually is. They are normally in place to force a party to do something, or, to stop them doing something. Anyone’s guess which it is - perhaps it’s an injunction to stop outrider attempting to block a deal?
123 TCF*
Yeah your way off. The world consumed approx 123 TVs in 2017
All good points. I did think that the hedge fund finance really was a rouse to push things along - basically just showing the majors that we do have other options. I’d say it’s almost 100% certain that the drill bit won’t be turning again this year as there simply isn’t enough time now to procure all of the necessary services and equipment. So we think majors/super majors have been looking in since around April? That is nearly 6 months. What determines the stage of the discussions? Early - no offers yet? Still requesting data/meetings Advanced- offers being made, negotiating?
JV/farmout Can anyone see this deal being done by the SH meeting? We know they have been in the fields/data rooms for a few months so it’s possible I suppose. What would be the point if the SH meeting otherwise? Nothing has really changed since the last one apart from the YA fallout
Tend to agree - most of the locations listed are not in block 12. Also - remember this is the GG oil cut - not fronteras
I think that's very difficult with the information available.
Personally i would prefer to see a one of payment of $50m - maybe more - then a free carry on the wells up to $150-200m which would be around 100 wells. i expect for that kind of deal in taribani Frontera would hold approx 25% WI and no longer be the operator.
Unicorns
Well done - I can also breath a little easier as I’m £100k “less worse off” than I was on Friday....
well economics from the company says its $3.5 a barrel
Don’t forget - in this podcast he mentioned that each well could be looking at 1m barrels EUR - that’s over double the current estimates form WHI and FRR.