Member Info for happysparrow

https://www.premiumtimesng.com/news/538741-colombias-president-elect-plans-to-reopen-border-with-venezuela.htmlhttps://finance.yahoo.com/news/colombia-presidential-election-creates-uncertainties-170000504.html
'Colombia’s extractive industries are likely to confront greater regulatory, contractual and licensing risk, affecting investor confidence, while higher uncertainties and declining investments could lead to further depreciation of the Colombian peso, according to political consultancy Control Risks.'

Scott, I'd really like to see the Royston sidetrack done ASAP - and put onto production. Our gas price is fixed; it's the oil price that has risen for us. Too, it (and Royston Deep) should start to ascribe some value to what I see as a huge oil field discovery for us that the market has determinedly decided is worth less than zero. To me, a successful Royston sidetrack result is what will really make this SP jump sometime this Summer. Of course, first we need Coho online and the EIA approved, and then some 'continuous drilling' plans announced.

Hold and Hope yesterday an advfn:
'I emailed PB today asking when we'd get details on Coho. He replied "Hold firm today, we'll have details out this week"....'
So Friday it is. An RNS presumably. Preferably with update on EIA too?

https://www.guardian.co.tt/business/tt-missing-out-on-high-energy-prices-6.2.1509687.1f285de518

Stuart R Young
@StuartRYoung1
This morning I addressed Heritage Petroleum and those involved in farm outs, lease outs and enhanced production sharing contracts to encourage and push increased oil production

Hopefully we will not be waiting for the PM to sign off on anything!
https://newsday.co.tt/2022/06/22/prime-minister-could-return-in-july/

With Cascadura I think NGC will be the unknown quantity - there will need to be a new chairman appointed after Conrad Enill being moved on, otherwise we still rely on these people: https://ngc.co.tt/about/governance/leadership-team/
There is an absolute ton of them (as with TXP's BoD) and you must wonder what they all do each day which can't be done by half the number. Who amongst them will actually be responsible for getting the pipeline built, and urgently? Mr Harrylal? Mr Mohammed?

TXP seems, for its part, to be getting on with things to schedule - with equipment due to be shipped out of the States imminently.

First, what's needed, is the EIA (3oth June at latest). Hopefully the recent criticisms on SPT, Deep-water bids, and general lack of progress, together with high energy prices, may stir the Energy Ministry (and PM) and NGC, for once, to complete on time.

https://www.ipsnews.net/2022/06/colombia-votes-social-justice/
https://uk.news.yahoo.com/radical-gustavo-petro-colombian-president-151738806.html

https://www.guardian.co.tt/business/heritage-looking-for-a-new-ceo-6.2.1508936.62187e184d

Seeing the Left win elections in Colombia (AXL share price fall) and France yesterday, and perhaps the adoption of Biden's / WEF 'Green New Deal' Net Zero energy policies (as with the UKs globalist & socialist Tory Party), the good news for TXP is that elections are not due until 2025 in Trinidad. However, that may not stop the present incumbents from adopting such looney policies as they curry favour with the US?
https://en.wikipedia.org/wiki/Next_Trinidad_and_Tobago_general_election

https://www.theguardian.com/world/2022/jun/20/former-guerrilla-gustavo-petro-wins-colombian-election-to-become-first-leftist-president?ref=biztoc.com&curator=biztoc.com

A good result for the country, its stability and progress away from violence. We will have to see what policies are implemented for O&G. I expect they will need to increase tax on production - perhaps similar to the UK windfall tax. Time will tell. Share price may drop on this news today; longer term we will have to wait to see what policies are implemented.

Touchstone Explor.
@TouchstoneExp
·
10m
The vapour recovery units for the Cascadura facility have reached the port in Texas and await for the ship to arrive this weekend for loading.

Thanks to various posters on advfn:
https://www.ema.co.tt/esummary/index.php/details/1/6215
The letter states the EIA application determination will be made by 30th June to allow the environment agency 30 working days to assess the additional information received from TXP on 16th May.

https://oilprice.com/Energy/Crude-Oil/Will-Colombias-Oil-Industry-Survive-The-2022-Presidential-Election.html

Concerns here are that a Hernandez win will acerbate Civil War, strikes and insecurity, and all that means for onshore oil production - and that a Petro win will bring large tax increases on production, and difficulty in doing business in this sector. Axl may jump on a Hernandez win, and nose-dive on a Petro win, but longer term, and despite AXL being a great investment otherwise, perhaps there are far better countries to be invested in for the O&G sector?
As ever, DYOR.

On that theme:
https://tt.loopnews.com/content/mystery-bidder-tph-reach-negotiating-stage-refinery

@TouchstoneExp
The separators for the Cascadura facility have been loaded onto the AMA cargo ship in Houston, Texas, and they are scheduled to reach Trinidad by the end of June.

Sore from the criticism of the video, TXP have put out an explanation of its content:
'Trinidad may be a small Caribbean island; however, it is recognized as the most industrialized Caribbean island and is seen as an excellent opportunity for international investment due to the petrochemical industry and its large oil and gas reserves. https://lnkd.in/grFKUbWc '

https://globalvoices.org/2022/06/09/colombia-divided-and-facing-profound-change-in-upcoming-presidential-elections/

Touchstone Explor.
@TouchstoneExp
·
10h
The vapour recovery units (VRUs) for the Cascadura facility are en route to the port in Texas where they will be loaded on a ship with the separators to Trinidad. The VRUs are used to capture any vent gas from the tanks and compress the gas back into the system. #ESG #OilandGas

Comment from ab76 (advfn trin):
'...as Jeremy said at the presentation, fiscal reform is required if the onshore bidding round which has just opened and runs to December is to succeed. Although I suspect the government will put a spin on it, to only receive four bids for the 17 deep water blocks is going to very disappointing (even though four is much better than nothing). I think 12 companies accessed the data room, so they were likely hoping for much more. They really can’t afford for the onshore round, which has 11 blocks, to now fail. There are some positives from the deep water round. First, they stuck to their tight timetable. Second, they offered significant incentives. Third, unlike last time, when the only bidder was rejected, there have actually been four successful bids.'