Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Surely they should just drill Somaliland and then, assuming it’s not a duster, sell it to the Chinese, Indians or Russians. All the previous fanfare about it being the jewel in the crown of our portfolio, was it all tosh? Have they changed their mind about there being oil there? I agree it’s probably a project more suited to a company more “geared up” for operating in this type of environment, but why bring it this far and then stop?
Good article
I posted an article a couple of days ago that highlighted that Bayu Undan is basically already full in terms of cO2 storage. AB said at the AGM last year that the geology at Chuditch lends itself to CO2 reinjection, which might be extremely useful to other regional players with lots of cO2 to dispose of 😉
Horta did say that Dili could be the next Dubai 😉
https://www.afr.com/politics/federal/woodside-gas-deal-would-turn-dili-into-dubai-ramos-horta-20220907-p5bg20
TBH I was disappointed that there was nothing new. Yes, they've done a good job dealing with the effects of the pipeline closure, but they're still to find a new asset to buy (despite looking for several years now) and for some reason have paused the Somaliland drill which will not take place this year.
A link to the presentation for those who missed it -
https://www.investormeetcompany.com/meetings/full-year-results-112
Read this
https://www.maritime-executive.com/article/eni-moves-toward-fid-for-controversial-high-co2-offshore-gas-field
When people keep saying “oh, the CO2 can go to Bayu undan”, think again…
I did read somewhere that there wouldn’t be enough cO2 capacity at Bayu Undan for all the neighbouring projects. Evans Shoal is huge and contains v high CO2 levels. Eni must have a very good reason to shelve this project and it must be CO2 related. Could well be that it’s becoming increasingly unviable to drill in Aus waters due to green regs…