Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
Details matter
Bold, as you well know they will not tell me, unless its in the public domain !!
I have frequently become downhearted at lack of Comms, never more so than right new.
1. PAA No 4 ? Yes or No, if No, what is the issue
2. Depending on answer to Qu 1, what is the new timing for SJ and Tubing to commence testing
3. Drill rig ? Any knock on to Qu 2 that impacts drill rig timing, and do we have a likely date for the rig ?
PG controls a large % of planning, I expect if PRD can no longer meet the guidance PG himself set, he should update the market.
This is transparent business Comms.
MEM
There have been many thought provoking posts around Timelines, Budgeting constraints, Testing and Drilling.
It seems that 2 main items are repeated by our management
Missed Timescales and zero Communication to update us mere mortals, the SH who make all this possible.
On this we can probably all agree, or maybe not !!
Tomorrow is the last day of April, is PG really not going to update us on SJ, Tubing and a drilling timescale for MOU -5 ?????
MEM
We seem to have staged a good recovery, mid price down 0.5p on IG.
Common sense prevailed re this mornings RNS. Steady ship, all good.
Just wait for the final sign of re MNPU.
Just a little more Patience
MEM
Hi Seatank, thanks for your input, excellent.
One thought re your FCF
Forecast Oil prices
What will the price of oil be in 10 years?
According to the latest long-term forecast, Oil price will hit $100 by the end of 2024 and then $110 by the middle of 2031. Oil will rise to $125 within the year of 2032, $140 in 2033, $150 in 2034 and $160 in 2035.
IF this came to fruition the FCF would be utterly enormous.
The Gas which SEPL plan to extract and sell to a power hungry local civil population, plus export to overseas markets will become a large standalone profit centre.
Everyone should have some SEPL in a balanced portfolio.
Final thought, when the MNPU deal is signed off and our average daily production rises to 100,000 bpd, with more upside, we will become a Bid target, especially with 25 years of reserves.
Large oil and gas fields tend to get larger as work is completed, unlocking larger reserves.
Interesting times.
All within a background of increasing dividends
I can foresee a bid price of £3bn in 18 months time.
MEM
Good chance of a further recovery in the SP this afternoon, hoping for a closing price broadly neutral change.
Then waiting for news out of Lagos re Chevron/Mobile final sign off, we must be very close after the Oil Ministers comments
I am buying as this represents a great Buying opportunity ahead of MPNU news, which must be very soon.
Large spread of 8p will narrow as the day moves on
Hi SeaTanks, my mistake, I shall carryout my own DD - rather than ask.
Thank you for your input.
Best policy do not assume ….. CHECK through your own DD.
Hi Tyler,
Happy to learn, OK understood
Thanks
MEM
Tyler I think that means local work, services etc paid for in Naira is more expensive to SEPL.
However the majority of services are USD related, so a strong Naira has a small/marginal downside.
A strong Naira will improve the long term stability of the countries economy, which is a positive for everyone.
MEM
Let’s try something different, if you have nothing sensible to post re PRD, let’s try a little self restraint.
Ah silence, beautiful.
Hi Trek,
Hi Trek (or anyone else) May I ask what happened re the planned drill of OML 40, I know it should have been drilled but Covid got in the way.
I have just gone through almost 4 years of RNS’s and cannot see any mention of SEPL drilling this area, can you please update me, THANKS
One last question, from a EV standpoint, SEPL seems very undervalued, does the Co have a plan to try and increase our ‘visibility’ maybe a series of road shows, any talk of a NYSE listing ?
Thanks in advance
MEM
Is there a whisper of news to be announced re the MNPU deal, maybe released on Monday ??
The offer price was 148p only a few days ago, then we went XD. And now the offer price is 168p all in the space of a week.
This feels very different !!
MEM
Thanks for attempting to write a long detailed post, i share your frustration
MEM
Today (obviously not) or tomorrow for a published list from DECC re updated Licenses, after tomorrow, the list is late in publication.
All to play for in IRL
We could do with an update from the Co confirming all the moving parts are moving on site in Morocco and a more accurate date to commence testing.
As for drilling, I continue to be of the opinion it is running late….. and late eats in to available cash.
HOWEVER - The later the drill is running re arriving on MOU - 5 pad, the more I think PG will be constrained by cash flow and the bigger chance of a delay to all SJ testing, as PG will become backed in to a corner with Costs vs Time and the increased possibility of delays to SJ/Testing MOU 1,3 & 4 to run alongside drilling MOU - 5 and run straight onto testing MOU -5 after a successful drill.
Before you all shout me down, yes PG states we have the cash, but I do not imagine there is much left in the pot after drilling and testing in the current plan.
Cash burn pm will be eating away at the cash in the bank, period.
MEM
Pesky predictive text
———————-
Counting down the days until a transformative RNS
MEM
I think you mean ARBITRAGE
What Is Arbitrage?
Arbitrage is the simultaneous purchase and sale of the same or similar asset in different markets in order to profit from tiny differences in the asset’s listed price. It exploits short-lived variations in the price of identical or similar financial instruments in different markets or in different forms.
Find a broker with offices in London and Lagos as a first step.
I think we are on the very cusp of major price action with the Mobile deal agreed, just waiting final sign off, as promised by the oil Minister last week.
Very interesting diversification proposed by the Co.
In the meantime, given the announcement this week from the Oil Minister re SEPL, I suspect no one wants loss of face and we can expect a swift conclusion to the Mobile deal, almost 2 years and 2 months ago.
This will thrust SEPL into a veritable force in both Nigeria and London markets, oil production will leap overnight, the SP might take a week or more to catchup to the RNS announcement that the deal is finally signed off, I expect the SP will rise over subsequent sessions towards 220p+ initially, but I think we will be over 300p by year end.
Tick tock, we are almost there.
Agreed, testing is a must and ASAP, hopefully news next week.
Have a safe and lovely weekend everyone
MEM