Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Yes, GKP ,also at 9p was just stirring then oil flowed at Shaikan, the brakes were taken off and it finished somewhere around £3(? ) when Kozel sold a whole load of shares. I guess that means don't sell any GCM until one of the directors does hopefully north of £3.
I didn't imagine I could top up below 8p again but I managed to steal a few this morning at 7.845p. Now the contract for Phulbari development is in the Chinese press it's a done deal otherwise there would be too much loss of face. The only question is why the delay in announcing it given the urgent need for domestic coal. Perhaps its going to be announced as part of a larger set of initiatives.
Happy Birthday searcher, enjoy the celebrations, hopefully there will be an even bigger celebration soon.
7p was a steal this morning after signing of such a major contract. Probably last chance ever to buy under 8p. Confirmation of meeting with government officials followed by green light makes sense now otherwise every month delayed is another massive hole in their trade balance paying for imported coal in hard currency.
$1bn contract with a state backed multinational to get the project started, $100bn of domestic coal to solve Bangladesh's fuel shortage and market cap only £29m. No, this current share price needs serious rerating.
Well if the purpose of delaying the transfer of funds from Polo was to deter investors then it clearly hasn't worked looking at today's price action.
Great Christmas Merrygoers
General election on January 7th. Not long to wait for an announcement of a radical shake up of energy policy.
Helsbydrome, I think you will find that anything that suggests that it isn't totally man's fault that there is climate change will be ignored by the media. After all it would encourage a measured sensible debate rather than the hysteria of "Stop Oil"vicars, retirees and celebrities with limited scientific training.
It sounds reasonable to target basement faults if Helium has already been found seeping from the surface so I expect the team to raise funds by hook or by crook for Itumbula having got this close to testing Tai 3's basement play. "Unsolicited approaches" suggests a deal for the minimum can be reached but presumably the delay is that they want to raise more, to keep their options open. Decided it was worth a top up at 1.73p today but my track record is not good this year.
I wonder if the monied new team at GBP have noted the potential of their cash strapped Namibian neighbour and considered unlocking the financial log jam at TRP too? It would be nice to see something happening in this sleepy backwater finally. Yes, they don't seem to be well qualified in the oil exploration sense but seasoned operators on the financial side which is what's needed now to unlock Namibian, South African and Cameroon prospects.
Interesting that CGG's seismic boundary (looking like a ship heading ENE along the Aqulhas-Falkland fracture zone) does not match the rectangular boundaries of Tower's block but certainly encompasses it. Suggesting perhaps it will be a joint survey with neighbours, Exxon?
Looks like an overlap to me, well spotted Dicko and Affc.
Red-eye, I accept its always good to be realistic but I see the Bangladesh goverment as being under pressure to find a solution to their energy shortages combined with issues with state finances. At some point they are going to have to change direction or the ir economy will be sunk. I therefore see it as a waiting game until their political leaders see sense. China increased its coal power approvals by 90GW in 2022. So the neighbours are not so focused on green issues that Bangladesh would look out of line if it gave the green light to Phulbari.
I think the year 2008 explains the answer.
Its not a time to look to sell the licence when Bangladesh is suffering from energy shortages and the government is looking around for projects to give the green light to which don't require importing fuel.
A two year extension for Global's Namibian licence and no need to relinquish 50% are generous terms from the Namibian Ministry. Either they are doing their best to show they are reliable business partners or there is a farm out deal in the air.
News could come anytime on one or some of the following:
1) Farm-out of Algoa-Gamtoos licence in Sth Africa. 3.7bn bbls of STOIPP and close to Brulpadda and Luiperd discoveries.
2) Farm out of Namibian block with Exxon PSCs to the north and south. Analogous to Shell's and Total's successful offshore Namibian drills.
3) Announcement of the formal extension of Cameroon licence
4) Funding from BGFI or asset level equity funding from other source for NJOM-3 appraisal well
5) Rig booked for NJOM-3
it seems only sensible to hold a few shares in case one of the above events occurs which may kick start some of the other events too.
Sorry to see you go GRH. Hoping you will return when all of us who have taken this opportunity to top up are celebrating some decent gas flow rates.
No one seems to know what's going on but currently there are regular outages in the country and there are 3 options.
1) Pay for imported coal and qui kly bankrupt the country whilst simultaneously adding to co2 emissions by transporting coal great distances.
2) Try other energy sources like nuclear or solar which may result in even more loss of agricultural land and requires massive investment and long lead times.
3) Dig up their own coal which would supply already built power stations, provide employment and improve the balance of payments no end.