Just thinking12 Jun 2018 19:32
Securing the first marginal project is our priority and I am encouraged by the speed of progress we are making and, accordingly, that this will be achieved in short order. We have a short list of targets which includes projects where negotiations are ongoing, in addition to others which are in earlier stages of development that will form a pipeline of additional opportunities once the priorities are converted. That does not mean they will all be successfully concluded but it does mean that considerable progress has been made. Moreover, resources are being applied to a fewer number of prospects and the schedule is on course to achieve the intended results.
The short list, which has been determined not by location but by the detailed criteria required to identify low-risk project profiles, includes fields in the North Sea, and offshore Brazil, amongst others. We can only provide more information when a transaction closes but shareholders can be confident of progress and the board of Nu-Oil believes that there is an end-point in sight.
Once the first deal lands you'll never see 1p again. Gla