Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I think it doesn't really matter if it is weather or license, Chesh. if they manage to process what was planned and with certificates they have, buyer will be lining up, especially in this market environment (further application of phosphate required for EV lithium batteries).
Not only that; imo once they complete a sufficient processing period and get confidence of what is plant able to process and deliver within certain time period, then offtake agreements should follow. I would not be surprise if any agreement drops in within next couple of months. gla
It seems Petro Matad will go exploit Heron license on its own as they also anticipate 2m from open offer for 3D. Seismic that is planned for Heron. But I am quite sure i was reading or listening videos that they are actively looking for JV partner for Heron?
And would be surprised if those exploration wells on block 5 wouldn’t be done with somebody which can carry them over for seismic acquirement&reprocessing and until explorations wells drilled on license 5. Surely now with much better oil market there should be parties interested...
appreciate if anyone can share the latest on these.
IMO now with cash and no debt, it is time to advance partner discussions for block 5 planned exploration work. What are others thoughts?
Cheers and gla.
I read somewhere in presentation that is 80% based on fact that Total pretty much proved that area. However, I am wondering why Perenco didn't go for this Njonji-3 well location after acquiring license from Total (if it is 80%) after they already knew Total well results. Instead Perenco (under time pressure apparently) decided to drill just north of TRP license.
especially if you remember relationship between previous 'couple'.
Morning all,
Yesterday Slo Minister of Infrastructure and UK ambassador Tiffany Sadler in Slovenia being excited of future relationships on various energy project to help reduce emissions (green energy). Nice bouquet of flowers :-)
https://twitter.com/TiffanySadlerUK/status/1371888578901516289
(all scenarios are still possible imo)
gla
perhaps Monday rns and Ascent will be in some way communicated at least by Friday imo.
agree and going to court would make this target more difficult to reach within their strategic timeframe I guess. Not sure if Slovenia has any other gas fields that could mitigate that gap. gla
There are all good and necessary steps that will be looked at when financial institutions reviewing eligibility for debt financing of a gas processing plant and other similar project across the country.
gla
Agree.
The current board of Petrol was appointed back in Feb 2020 (we could say indirectly by previous government) and current government was elected in March 2020.
gla
Same here, patiently waiting for on or around 19th. gla
oldblue, yep completely valid to add point 4 and even though I haven't read anywhere in media of government/minister categorically rejecting Ascent settlement offer, there is a chance of this option to happen.
I think there are holders genuinely frustrated and not just shorters or whoever wish to lower their entry/top up. Share might slide down a bit more if there are no news until 19th March, perhaps at 10.5p-11p buyers will appear again. Low volume suggest no leaks, imo.
Bingo burnemc! Well said.
Since this big gas/oil field has been proved that can be flown with right procedures and very commercially viable, this raised eyebrows to Petrol (incl. government) straight away.
Most likely JV terms will be renegotiated down to uncontrollable level to Ascent or a complete exit from Slovenia for Ascent. All dependent on amicable agreement obviously. gla
HawaiifiveO, agree, except that at that time was different government and a different minister.
oldblue1973, interesting your observations of trading for last 3-4 weeks, that would coincide with new funding and strategy update from 11th February. Which is quite interesting date because:
11th February government appointed someone to be in charge of coordinating communication between law offices of ast and different gov. bodies about the progress
11th February Ascent's law firm in Slovenia submits the latest estimation of total damages to Ascent.
11th February double oversubscribed placing at 10p
11th February new strategy update
They could have all options laid out (including arbitration) and government is assessing the impact/benefits of each of them. There are signs that it might well be a positive one for both sides.
gla
That same article speculates that law office helping Ascent in Slovenia advised Ascent will be happy not to proceed with arbitration if government settles with at least 25m EUR. And yes, I read it too that 120m includes all, investments to date, loss of past and future profit etc.
Another thought that crossed my mind (incl. after reading this chat room last weekend) was it looks like Ascent most preferable option is to exit Slovenia and leave this field to be developed by Petrol and Nafta Lendava (owned by Slovenia).
I can find is the below from 19th January:
https://vestnik.si/clanek/aktualno/v-focusu-kriticni-do-predlaganih-resitev-na-podrocju-frackinga-842519
One section that google translates to, it says: The proposed amendment (which is in public debate until 22/01/21) to the Mining Act leaves the door open to hydraulic fracturing in Petišovci...
Public debate closed on 22nd January 2021 for the amendment mentioned above.
Bought in as a speculation that AST might get license back and its operations will be restored and some cash back for damages caused. Therefore must be worth minimum £20m plus if operations are successfully restored. imo gla