Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Speech on youtube (I've not listened yet): https://www.youtube.com/watch?v=ycFWRmy2fkU
AB76 has a different view on the value of what was said: https://twitter.com/AB___76
Too, not sure PB has such a good relationship with Minister Young? Note his wry comments at the end of his recent one2one presentation that Minister Young was in London at same time but didn't bother to meet up, and along the lines that if PB was popular with the Ministry, heaven help the rest.
Nonetheless, getting Coho done will come as some relief, and will allow us to move on. Lessons learnt, with Cascadura online by xmas, though not expected, would make up for much of the past two years frustration (though not for the opportunity cost).
I guess this will be a problem for Royston. On the bright side, it may mean we will emphasise exploration at Royston, rather than production, until there is a change of government - which cannot come too soon.
I sometimes get that feeling about SPT reform too, MJ. Seven years the country has been waiting whilst the economy declines.
These delays, if deliberate, can only be being orchestrated from the top of the ruling party.
Its not just TXP, but the whole shebang.
Other T&T legislation, not just O&G, seems to be being dragged out endlessly too.
We await the elections keenly.
Onshore bid round looks as if it will be for St Mary's + Cipero + Tulsa.
Perhaps selling any output to Methanex.
https://www.guardian.co.tt/business/11-onshore-exploration-blocks-offered-for-bids-6.2.1518084.76c135e29d
https://www.guardian.co.tt/business/methanex-willing-to-pay-more--for-gas-in-tt-says-its-ceo-6.2.1510956.8a012035f4
'President and chief executive officer of Methanex Corporation, John Floren, has told an investor conference in Louisiana, USA that his company is prepared to pay higher prices for natural gas in an effort to restart its Titan methanol plant in T&T, but not so much that it makes losses when prices are low....'
Worth reading the Methanex article in full.
Excellent summary, ab76.
Sadly, the next General Election is not until August 2025.
If Rowley, Imbert and Young do not deliver fiscal reform this September the people should throw them out of office. Fiscal Reform is the first thing Kevin Ramnarine will do once elected.
https://en.wikipedia.org/wiki/Kevin_Ramnarine
King Suarez has put up some useful notes on the other side:
Some concern about the Royston sidetrack being a binary event, and further development not going ahead if unsuccessful. Too, Kraken pushed out into the long grass, and Cascadura likely online in Q1 2023. Hopefully they will have the video up sometime this weekend.
ab76 hits where it hurts, Superhuman.
Colm Imbert, finance minister, has blocked him in the past. The opposition Energy Minister Kevin C Ramnarine often replies on his twitter account. ab76 adds comments to daily newspapers, and I am sure they pick up on his twitter posts for help with their reportage. As will T&T's Energy Chamber read his information. Probably the Energy ministry and Stuart Young also, if they have the wherewithal. And too, Touchstone and Trinity Exploration (see advfn - Trin), both companies and investors.
His work is much appreciated.
Good work from ab76 again - keeping them on their toes.
17 days to go to next budget. With BP's T&T gas production declining by 50% in 3 years, will the long-promised fiscal reform be brought in to increase energy investment in T&T ?
https://twitter.com/AB___76
From Herman on the other side (thanks):
'Its a last min safety report that was requested, so not that easy. Having said that, they have had plenty of time to complete it and it can be signed off at any time.'
Perhaps this might inspire Rowley and Young to up their game.
https://oilprice.com/Energy/Energy-General/Oil-Capitulates-On-Global-Recession-Fears.html
Too, both are in London for BP discussion same days as PB (and PRD) for presentation? Anything to discuss? Probably not.
I hope these two clowns don't go to Europe (or on to the US to meet with Kamala Harris) just to bang on about Energy Transition:
https://www.youtube.com/watch?v=wDOI-uLvTnY
Presentation of 2nd Sept was a damp squib.
Budget now on 26th Sept.
Meanwhile Rowley and Young are off on another jolly.
https://trinidadexpress.com/business/local/rowley-young-to-meet-with-proman-shell-bp/article_348aa794-2ca8-11ed-aba1-3b9c7ebad8c4.html
Are theses politicians seriously going into discussions with industry on further investments in T&T without covering the subject of fiscal reform?
Herman, on the other side, looks to have had an email reply from TXP:
'The reason they have put six months is just to put in a good buffer. The objective is still to get it online by year end.'
Being a curmudgeon, if the Environmental Clearance was given on the 12th August then, given the long delays to getting the EIA, I'd have expected this notice to go out the very next day and works to have begun within no more than a week. Why they want 6 months to complete is beyond me. Not impressed.
https://www.zerohedge.com/markets/china-aggressively-reselling-russian-gas-europe
Not only ON Camera, but by RNS - 3rd August:
'... The pre-commissioning of the gas facility and pipeline consists of testing all electronics, alarms, and operating systems in the facility, testing of the flare and emergency shutdown systems, as well as purging air from the system using inert nitrogen gas. Subsequent to these operations, system commissioning operations will commence, which entails the introduction of natural gas from the Coho-1 well into the facility and pipeline in a step rate manner, officially bringing the system onstream to the Central block natural gas facility.
Coho-1 will commence production following completion of the commissioning and pipeline handover process, with the expectation that production will increase over time to 10 MMcf/d (1,667 boe/d) gross, 8 MMcf/d (1,333 boe/d) net. Touchstone will provide further information once production is optimized through the system.
Paul Baay, President and Chief Executive Officer, commented:
"The completion of the Coho facility and pipeline will be a significant milestone for Touchstone, as it will represent our first natural gas production and is expected to double our current production on a boe basis.
Throughout this process we have encountered challenges that have provided us valuable knowledge to streamline the construction of the Cascadura facility. During the pre-commissioning and commissioning process, we will need to balance the system with the well, pipeline and Central block facility. We will keep all stakeholders informed of our progress, and I would personally like to thank our shareholders for their continued patience as we proceed to full commercial production."
I have to assume production is not 'optimised' as yet. No one has informed as to why.
Excellent work, AB76. Thank you.
I really hope they answer your questions and, as alligator says, this time with deeds following soon after.
I'm not on social media, so would be grateful for someone to post here anything useful they mention on O&G fiscal reform. Hopefully the local press will cover the event too.
https://newsday.co.tt/2022/08/28/asa-wright-nature-reserve-in-battle-with-quarry-operators/