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As far as I can see, RRE are valued at £100mm and have 2P of 35mmboe.
Dunderheed, it makes very little sense, to me anyway, to be happy with 25p but not to sell right now.
You're risking potential 100% loss for an objective 25% gain.
What's the fixation with an arbitrary 28p?
Consider similar transactional value based upon £ per 2P reserves plus potential upside. Does that tally with 28p?
By this time tomorrow, IOG will be 10yrs from production, will only retain 2% of any development via a farm out, will be on the brink of imminent collapse and people will be telling us that they'll be happy to take 8p. No, 7p. No less than 6p for sure. 5p, but that's the bottom.
25p maybe then? Only a few % less?
What about 27p?
Suddenly a board full of M&A and O&G farm-out transaction terms has descended upon us tripping over to tell us all how great this deal is for acquiring £700mm of 2P assets.
What's that in terms of £/2P barrel?
What a time to be alive.
No.
Of course - their intention is to unsettle.
in 2 months right?
"sorry, I was wrong" would've sufficed.
Sigh.
LOG can have 2 directors on the board AND and one non-director observer to the board.
Orrell is an observer as per RNS. Please provide evidence of your reading skills old bean that Orrell has replaced Charles on the board.
Poor Charles. Should save on the whiskey bill.
So nothing to indicate IOG have done anything wrong. Great.
Looked up "if" - "word to use when making vague messageboard posts to suggest one knows more than they do".
These modern dictionaries are bloody good!
Barloprim - what info do you have to suggest any illegality or impropriety with how IOG have conducted their business relating to LOG and LCF?
Barloprim - where does it say that LCF rep is on the board and not observer?
Cheers bigspense re. the on site stuff.
I think Ineos would be interested in the offshore element too as they look to secure feedstock for their petrochem business and detach themselves from commodity price volatility... But who knows what, if anything, will happen on that front.
I think Bigspense means the Thames reception facilities which is what IOG have talked about previously re. Bacton.
Certainly IOG are looking to use the Thames line ullage to transport others gas from offshore fields to Bacton.
All subject to successful development of course.
SailorNL - any subsea infrastructure put in place there will become a wonderful natural habitat for the local fauna. Don't know what these people are concerned about.....! Oh wait, it's an ER well from Wytch if it comes in - Bournemouth saved!
Ensco certainly got a material return on their investment in the Ensco 72 though! Aging old hunk of efficient junk.
The OGA would probably approve drilling in the Thames they're that desperate to drive exploration activity this year.
Not sure if there are any seahorses there though ;)