Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
FilthyLucre reasons to be optomistic are we have a potentional asset which could be worth millions to Baron if sold. Andy Butler got put on the board. He is the one doing all the hard graft for us in TimorLeste, we are fortunate to have him with his experience and connections. His options can only be exercised if he brings Chuditch in, note those conditions were not given to other board members which I happen to think is unfair. Andy Butler is the one who has put more cash into buying shares than any other bod member and as far as I am aware does not draw a huge wage. He is the only member of the bod who I trust to get this over the line for us. We need a route to market to be able to get a decent JV so its positve that Woodside are doing a concept study hopefully hear on that by June so we know where we are.
That is what we all thought Reggie they told people at the agm they didn't need to raise and they wouldn't raise until a Jv maybe they meant the shocking JV where they gave 15% away for a few million with TG, but read the rns they spent £1mill as they only had £3.65m left.
They had £4.6 mill left in June spent £1million since then no idea what on, maybe their wages they get paid ridiculous amounts. then they raised £3mill. They are not including the £750k guarantee in the funds £4 mill they say will be spent on preparing the drill. They will have to give away more of the asset either through a JV or do a huge raise hopefully the former. They need about £25mill if TG pay the 20% of costs. Everything will depend on a route to market. Will it be Darwin, Sunrise or a Flng if its Sunrise could be a while yet. I get the placees enthusiam to ramp this but the longs have been shafted, I do think the assets could be worth a fortune, but you have to be realistic, the bod have once again raised at a ridiculous price who is to say they won't do it again? They refuse to promote and don't seem to want the price higher to raise at reasonable amounts, for me we need a change at board level. Bring in people who want to gain value for shareholders.
Seis don't think they have been drilling throught the wet season, they had quite a long period of rain and even though they are in a drought compared to last year it would take time to dry the mud out. No idea how much they drilled before mind and we are waiting on some results from that.
· The Company has had its application for land access for 2024 operations approved by the Matad District Committee. A land use agreement is now being prepared which, once signed, will allow 2024 operations to go ahead commencing with completion operations on the Heron 1 well.
Https://www.voxmarkets.co.uk/rns/announcement/354c8e85-876a-44e8-895b-635e1f8a0ea3/ voting rights
As disclosed on 14 November 2019, as part of the RTO arrangements, SundaGas agreed to provide an unsecured loan facility to Baron of up to £200,000 to cover certain costs related to the RTO. As the external RTO costs to date have been minimal, this loan facility has not been utilised and will now be withdrawn.
In order for Baron to exercise its entitlement in SundaGas TLS, the Company will be required to reimburse its share of costs incurred since the Chuditch PSC was signed on 8 November 2019, including the Bank Guarantee, which were planned to be repaid from the proceeds of the RTO fundraising. Such costs have been carried by SundaGas since the Chuditch PSC was signed and, under the terms of a Carry Agreement, SundaGas has agreed to continue to carry Baron for its share of such additional costs attributable to its pending interest in SundaGas TLS until 26 April 2020, or such later date as shall be mutually agreed, when costs accruing to that date will become payable. Thereafter, subject to completion of payment for such costs, Baron will maintain its interest by continuing to pay one third of the costs incurred on the Chuditch PSC by way of additional investment into SundaGas TLS. Based on the SundaGas forward budget for Q1 2020, Baron estimates that the total monies that will fall due on 26 April 2020 under the Carry Agreement will be approximately US$500,000. VT think that loan would of ended.
Well its trying to rise today now come on bod get some PR going and news https://invst.ly/13on9-