Member Info for gordon1237

Does anyone know what the typical profit margin on a barrel is? We obviously can't assume this to be typical but might give some idea.
Just out of interest, I googled how many barrels a day Shell produce. Its 3.7 million! Atb.

It gives more detail in the rns Yuri. Arb ruled in favour of Oilex but they never got a penny and eventually the parent company of the other party went bust.
Must admit I was forgetting about Kampar. It could I suppose be a route to financing Cambay. Wonder if anything can happen quickly enough?

it probably

Although, yes if probably would have been done well before the lock down if they had pressed ahead and not spent many months in negotiations. Who knows what the result would have been, but we could hardly have been in a worse position.

Impossible to say Qs. We were never told any schedule. Atb.

For anyone not aware of the underlying reason for the dispute, this is a good link.
https://www.livemint.com/Companies/tcNs2RUmfqs6lFGC5HxhUP/Cambay-oil-field-faces-closure-as-GSPCOilex-joint-venture-t.html
Of course, it is all pretty irrelevant now. The only thing that matters is the shape of the deal.

Qs. That was basically the question that arb was supposed to sort out. Atb.

Fair enough Conger. Atb.

Spot on Yuri. If only they'd done what they said and reached a deal with gspc in the first quarter of 2019, imagine where we'd be now. Atb.

That Conger is the crux of what arb would have been about. To decide whether gspc owed the jv anything or whether they were justified in withholding the cash in light of Oilex's actions.

That's interesting Conger. Of course being aware isn't the same as being liable. Unless he is perhaps implying they have an agreement with the the new partner.

gspc's share

As things stand I doubt if they could raise enough by dilution. That would be a disaster for lth's anyway. Depending on the valuation maybe they could farm out/sell say 15% and use the proceeds to fund 30% of the costs. I know others disagree but I feel the valuation of gspc's is all important.
Or maybe they could flog the lot and use it for the Irish Sea. Atb.

Feels more likely to be the second option Yuri with maybe a bit of the first thrown in. By last September they may have felt they needed to throw in the towel rather than let it drag on with the resultant cash burn. That seems pretty ironic now that nearly another year has gone by. I suppose there could have been an agreement with gspc to get some of the owed cash out of the proceeds of the sale.
There always seemed a contradiction with what they said about the cash calls. Which was to continue to engage with all parties including a new jv partner. Why would you need to engage if anything was agreed? Also the tender document said there were no debts associated with the sale. Atb.

It does also say gspc has sole discretion to extend for a further 180 days so that's the answer really. Atb.

It was announced in January that negotiations were started with the preferred bidder so we'll past 180 days now. Doubt if that had any relevance in the current extraordinary circumstances.

Thanks Qs. Nice to hear your story. Like I said, almost everyone has one. Mine was never that rewarding financially but I never minded that as it was the science I enjoyed. Atb

https://youtu.be/7NuaK29J1fM

Thanks Yuri. I think virtually anyone's life can be interesting if you scratch below the surface. Atb.

Would have thought it was obvious Yuri. I was researching the best way to pick shares. Lol.
Seriously though, it wasn't really research as such. I was a materials scientist. For the first 37 years of a fifty year career I worked for an independent organisation that tested the quality materials and products. We tested for things such as strength, impact resistance, effects of heat, cold and light. We evaluated building materials, wood, plastic, metal, composites, etc. As for products, you name it I've probably tested it. Everything from condoms to riot shields, or high strength steel to fibres smaller than a human hair. Most of it was for private companies but with a few government things that involved signing the official secrets act.
After 37 years I was made redundant for a miserly sum. Turned out to be the best thing that happened to me. Was very lucky to get a job at the home of physics the National Physical Laboratory in Teddington. Spent a very enjoyable last 13 years of my career there working with some great people, many of them much cleverer than me. Mostly tested carbon fibre or glass composites for the aerospace or wind turbine industries. Was involved in a peripheral way in a few research projects and got my name on a couple of papers for doing some of the donkey work.
I expect that sounds a bit boring but to me it was anything but. Atb.