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We already found that out ICB and that is the government will work to their own timetable and there is very little concept of 'clout'. When they need things to move, they likely will. Look at how long the farmout took to complete.
Strongsellmanos. These boards do make me laugh with these panto names.
Yesterday's update was positive for anyone with a longer term view who doesn't need the cash short term. Derisked considerably by both the funds and the show of support from ARA.
I am slightly unsure, but recoverable should be 2c resource (recoverable contingent on development) and that was previously at roughly 770bcf. I must be wrong on that or they'd be shouting from the roof tops I'd of thought, but it is internal ARA thoughts and not (unlikely to ever be) CPR'd.
Good news is they have the funding sorted and should be enough to take them through. I'd say apart from the delay, this is pretty good news for LTHs as long as there aren't further delays.
I partly agree. There must be value in the carried asset. The problem is that there appears to be no interested parties (look at scir). If they sell their % at a reasonable price, again, could shoot up.
But, zubairs have a lot of control over aex and there is more value in the asset than aex. If they show support in a funding arrangement then onwards it goes, but previous apparent support is no indication as it was a necessity to enable the transfer of 50% and operator control smoothly.
2c proven resource of 770bcf of gas. That's worth the spend, right? We were talking about aex ability to keep going and you mentioned the zubairs being committed to their investment in them. So far they kept them afloat whilst needing the farmout to complete. Back to square one and the important question is will they now, when if aminex goes bust, they get their share of aex asset anyway after default? I'm not saying that will happen, but things are very untransparent and less than reassuring given how things have been.
A simple sign of progress and this will shoot up. The opposite, as always, is where this is.
I'd hope they will, but why not already? A deal where they pay back on first gas with interest? Maybe they will eventually. 25% of ruvuma compared to 30% of aex? Where is the most value? They really need to show they have a means of funding till either raising at a higher level or first gas in sept 2024. There doesn't appear to be much appetite for the asset other than the zubairs.