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By gbp's agreement it has to conduct a 3d survey by year end to move to the next period, does the namcor agreement is enough or do they still dependent on a farm out by year end?

That was a reply to the question-"Any ideas of a time frame for news on the farm out?"

Tomhuk, the time frame by the dolphin agreement is 1.6.20, by then i3e should prove funds for the serenity drills so that is the "ticking bomb".
Around that time i3e should finalize the toscana deal and once they do i think it wont be long before they will secure a rbl which is a big catalyst.

Thank you

What i was asking is if in this prices and sentiment we will get to Q4 with no f/o, what is gbp's options as its mc doesnt able it to raise money via placing.

Tullow has confirmed the block 47 suriname drill in Q4 several times, in a mail respond from its partner ratio petroleum a few days ago they now say that because of CV the drill might be delayed to beggining of next year.
I dont think we should expect big news just more confidence of things moving forward Q4/Q1.

I have a lot to say about these guys because of what got us to this price but putting that aside these guys know to find great assets with x factors and very good negotiators.
Long term i think they can do very well but we need the serenity f/o to start realizing that potential.

How do you think gbp will raise cash to keep up with its contract?

Reserves Based Lending (RBL) facility

Tullow is pleased to confirm that it has completed the bi-annual redetermination of its RBL credit facility with
$1.9 billion of debt capacity approved by the lending syndicate. As a result, the Group has c.$700 million liquidity headroom of undrawn facilities and free cash at the start of the second quarter of the year. This level of headroom is deemed appropriate by the Board considering Tullow's much reduced future capital commitments.

Imho, such a big target with 8 different laters will take at least 4-6 weeks to analize.
The logging analysis due next week is preliminary and if positive i think a 2 bagger is most likely, same if negative- 50% drop..

No!
The all strategy is to prove the reserves and sell out, not the other way around.

The over supply and fall of close to 20m bbopd in demand twisted the prices of oil, brent from SA is being sold for less then 16$, the russian ural oil being sold for less then 13$ etc.
Ggg is right about the break even of wti, once the market will stabilize a 25$ wti price will break even.

If it is the nature of the deal there are three game changers here:
1. They have a platform.
2. One well produces 200 bbopd and cost 1m$,
So with 20m$ senior debt they can produce another 4000bbopd.
3. They "baught" a 25m$ tax asset

Btw, look at toscanas bb in canada, the posters complain about being robbed..

Thanks nick, i hope this poster is correct, if that is the case it is a great deal.

Ok, and who will pay toscanas debts?

We also "own" the debt, i dont understand how they are planning to pay back all those debts when they dont have money to pay their own debt or to fund the summer campaign.
They must be sure the amount of cash from the serenity f/o will be more then the drilling costs but the risk is on our expence..
We will see in the coming months if they deliver or its the lib flop all over again.

Why you care about my holdings, i was asked and answered, if you dont believe its fine by me.

https://ca.finance.yahoo.com/news/toscana-energy-enters-option-agreement-060110826.html

The option is valid till 30.6.20
Another important thing- toscana has 136m$ loss which means it has a tax asset worth 25m$.

That was aimed for posters who can both read and understand, ignore it.