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It looks like the 'Article 10' business is a cut and paste job. Here's the agreement for Foum Assaka, signed by our very own Paul Griffiths:
https://www.sec.gov/Archives/edgar/data/1509991/000110465913080961/a13-19720_1ex10d14.htm
The Moroccan Hydrocarbon law, 2003:
https://www.mem.gov.ma/Lists/Lst_Textes_Reglementaires/Attachments/156/LAW2003-Anglais.pdf
Useful as a reference for dealing with all manner of FUD :-)
Sections 32,33,38 deal with environmental concerns – no explicit requirement to seek permission to flare, just a general obligation to adhere to environmental regulations that are in force at the time.
Section 32 states that all conditions, including 'respect for the environment', must be set out in the petroleum agreement. The US SEC requires these documents to be published and one such document submitted by Kosmos in 2013 is quite instructive (or not ;-) )
file:///C:/Users/44759/Downloads/2149-kosmos-energy-deepwater-morocco-hc-tarhazoute-offshore-concession-2013%20(1).pdf
Article 10 states "The Parties shall conduct all Exploration Works and the Development and Exploitation Works according to the rules relating to safety and the protection of the environment in conformity with Section 38 of the Law as well as Sections 32 and 33 of the Decree". And that's it.
Law 11-03 is the environmental law currently in force but again is general in nature.
file:///C:/Users/44759/Downloads/UNEP-CHW-NATLEG-NOTIF-Morroco01-LAW11.03.English.pdf
I'm not a lawyer, so if anyone wants to pick the bones out of that then be my guest :-)
Mick
No, that's from the link you provided. The farmout will be due when Challenger have struck a deal with a third party which in turn has government approval. Do you think you'll have all that in place anytime soon?
willec,
27% of sfa is less than sfa ;-)
lets just consider the mathematics for a sec. i'm not ****d about perseverance.
the probability distribution using the historical data will surely be weighted towards the negative for a variable that has fallen almost relentlessly over the past two years, no?
also what farmout???
ffs willec, i can't tell whether you're taking the **** or if you're being unintentionally funny:
"that is rubbish who cares about the last 2 years....any view of price entering 2024 bilbobagholder, based on charts?"
the only thing bullish around here is the amount of bull **** spouted
https://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=stock&symb=uk%3aceg&time=10&startdate=1%2f4%2f1999&enddate=10%2f22%2f2023&freq=1&compidx=aaaaa%3a0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=1&lf2=0&lf3=0&type=2&style=320&size=2&x=45&y=10&timeframetoggle=false&comparetotoggle=false&indicatorstoggle=false&chartstyletoggle=false&state=8
i’d forgotten all about stinky pete🤣
https://www.guerillainvesting.co.uk/2020/09/22/*************-the-stinky-pete-scandal/