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I can’t believe anyone is daft enough to lend them any money after the stunt they pulled with the debt restructuring. I have to laugh when Willec states that Ceg is making money in Trinidad. I guess it’s easy to make money when you just brush all your obligations under the carpet.
The share price has fallen 2-3% since your ‘code1’ willec. What could it mean??🤣
Also, p/e doesn’t work for oilcos, especially those with no oil😘
i really don’t understand what your issue is. you accept that the latter steps will depend on the test results and they have told us what they are going to do to get us to that point. probably best to wait and see. i’d rather they just cracked on with it rather than have to issue an rns every time one of the team scratches their ****🤣
They’ve already provided us with a plan:
“…the net proceeds will be used for MOU-4 well costs, rigless well testing of MOU-1 and MOU-3 and MOU-4 and a compressed natural gas proof of concept study”.
I would imagine any further planning will be determined by the outcomes me of the rigless testing.
Nope, the long stop date is 31/08.
https://www.lse.co.uk/rns/PRD/update-on-acquisition-of-cory-moruga-k3marhkd4m8ivf1.html
I've been thinking about my earlier comment regarding the creaming curve; that you could only see how far up the creaming curve you were in hindsight. I guess I was talking in absolute terms, maybe decades down the line. I had this idea that whoever kicks the tyres on the Moroccan assets might have their own ideas about the creaming curve which they could use in negotiations, (does it work like that? Would the potential buyer be in possession of enough data to form a view on this?)
According to the paper, "The key to economic success is to enter the play and find the “cream” or exit the play once the largest and most economically attractive fields have been delineated by drilling". There is a risk that we could do neither, but if, as most expect, we go down the 'Stub Equity' route with the Morocco asset then it doesn't really matter. We'll benefit from any subsequent rising limbs/plateaus by having an equity stake in any future production.
I guess all this business about creaming curves is backwards looking . We'll only know after the event. Interesting to compare curves.
https://www.researchgate.net/profile/John-Snedden/publication/237441576_Exploration_Play_Analysis_from_a_Sequence_Stratigraphic_Perspective/links/0f3175370f4cfd7040000000/Exploration-Play-Analysis-from-a-Sequence-Stratigraphic-Perspective.pdf