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This imo is one of the best boards I have experienced where everyone tries to help everyone else. RockyRide makes a major contribution and it is much appreciated by almost everyone. I regret I am unable to pay you such a compliment.
As I said on other channel, Charlie Munger, perhaps the most successful investor in our lifetime, said patience was the key to long term investment success.
If you followed the Accugas acquisition you wil recall the long delays, the many turns and twists, but the end result from our CEO's skilful negotiation was and is superb.
The same applies to securing the Niger leases. Delay awaiting the pipeline is fully understandable, and the unforseen political deterioration is a huge disappointment but hopefully only temporary. The potential of the leases is in no way diminished and whoever is in power will want the oil produced.
The negotiation of the Chad interest was also very skillful in the sense that despite a revolution in the country Save is expected to receive substantial compensation although the investment has been minmal thereby minimising the risk.
The same skill has been pplied to the Cameroon asset and if retained will be very lucrative or should be compensated if lost.
We can expect that the same skill has been applied to South Sudann so that if the deal falls through the likely cost and risk will have been minimalised.
Given the currency upheaval in Nigeria the delay in finalising the new banking arrangements should not be a surprise.
And there may be another deal on the horizon.
The delays and setbacks are frustrating for everyone but there is much to be pleased about. We just have to recognise the difficulties arising fro m the regional politics.
Diversity non execs plus renewables (along with divs) will make the equity moe appealing to instis. Nothing wrong with 40%IRR either on renewables.Knott unlikely imo to allow renewables to grow too quickly - too much skin in the game.
Agree onwards and upwards!
In the absence of contrary information presumably the cash continues to flow in which case silence appears to be the appropriate course of action/inaction. IF the recent suggestion that Chad is pursuing Exxon tather than Save then good luck with that but it does suggest to me that this will be resolved on an acceptable basis eventually.