Member Info for Mogger

TXF have an article stating that Premier will mandate banks in Q2 2019

Anyone got a subscription?

https://www.txfnews.com

Mogger

To reiterate what Ovets has said the award should be announced within 120 days of the closure of the hearing
It's rule 46
http://icsidfiles.worldbank.org/icsid/icsid/staticfiles/basicdoc/partf-chap06.htm#r46

Mogger

It certainly shows that with very little buying activity, the share price moves quite quickly

Mogger

If the FT link doesn't work just Google "premier oil ukef"

Mogger

Giblets,
You're correct!
I shouldn't try and help him. And I apologise for clogging up the board talking about African Governments.
Surfit,
Have a look at these two links
https://www.google.com/url?sa=i&source=undefined&cd=&ved=0ahUKEwikisPJ9ZPgAhXSsHEKHVf1CjUQzPwBCAM&url=https%3A%2F%2Fwww.ft.com%2Fcontent%2F8e3cd760-89a3-11e7-bf50-e1c239b45787&psig=AOvVaw2RmKfdGasNPh8tXP0oB0na&ust=1548883168459794

https://www.great.gov.uk/advice/get-export-finance-and-funding/

Mogger

Ralph,

You are obviously not a Private Eye reader.

"UKEF has provided loan guarantees worth £1.3bn to Brazil’s state-owned oil company Petrobras since 2011. This includes £555m after the Petrobras corruption scandal broke in March 2014."

https://unearthed.greenpeace.org/2017/04/19/uk-trade-billions-export-finance-fossil/

So not that example - which other example was wrong?

Mogger

Ralph,
I am obviously not explaining myself correctly. For that I must apologise. I will try again.

At 14.02 you said "we will have to achieve a RECORD breaking EF , several times their current record". That is incorrect as UKEF has loaned considerable more than that in all parts of the world. I gave you examples.

At 16.02 you said" I know it was the biggest African investment". This is not true. I don't know which is the biggest but the previous example of the O&G development in Ghana is bigger.

I agree a loan is an investment, but the biggest loan to an African Government is not the same as the biggest loan in Africa. Rockhopper is not looking for a "RECORD breaking EF" because Rockhopper is not an African Government.

Hope that helps

Mogger

Ralph,
Is not the biggest African investment - which is what you keep repeating. It is the largest direct loan to a government in Africa.
Yet you resort to name calling....

Mogger

Ralph,

Again you have got it wrong. "It is not the biggest African investment". It is the biggest direct loan to an AFRICAN GOVERNMENT.

Stop the misleading posts please

Mogger

Ralph,

That was the largest direct loan to an AFRICAN GOVERNMENT, not the biggest EF that has been done.

Examples of larger deals include...

UKEF provided $400m in credit or guarantees to the Offshore Cape Three Points Project in Ghana in 2016

Up to £1billion to Coumbia's oil and gas development

And £1.3 billion to Petrobas .

Although I don't agree with all of UKEF's decisions as to where money goes, you statement was misleading at best.

Mogger

The following links succinctly describes the process of enforcing any potential award from our upcoming case against Italy.
Worth a read....
https://www.acerislaw.com/enforcement-of-icsid-awards/#_ftn8
http://www.etd.ceu.hu/2016/filipiuk_anastasiia.pdf

Mogger

Ticking along nicely

Mogger
https://icsid.worldbank.org/en/Pages/cases/casedetail.aspx?CaseNo=ARB%2f17%2f14

Nice find fecm. It's really quite weird why they continue to recruit for a project that isn't happening

Mogger

Fuddstone,

Do keep up old chap...

Exploration well ASZ-1X located on Prospect S was spudded on 8 November 2018 and was the first of two commitment wells to be drilled in the first phase of the new concession. An oil discovery was made in the Abu Roash-C level with preparations underway to test and produce. The operator has applied to Egyptian General Petroleum Corporation ("EGPC") for a development lease over the discovery.

Mogger

Ralph,

There are 35 people on LinkedIn working on the Sea Lion Project for Premier at this time.

Still meaningless?

Mogger

Worth a listen...
http://webcasting.brrmedia.co.uk/broadcast/5c363082a650e416a9bb7fdb

Mogger

Bootle. the RNS in full with regards to Sea Lion:

During 2018, Premier completed the selection of its key contractors for its operated Sea Lion project in the Falkland Islands and put in place LOIs for the provision of services as well as vendor financing. Premier is now working with its selected contractors to complete FEED and to convert the LOIs into fully termed contracts. In parallel, Premier is continuing to progress senior funding structures for the project, ahead of a final investment decision.

Mogger

adds a little more information

https://www.malcysblog.com/

Mogger

Another number floating around the internet

THE CASE OF OMBRINA MARE - "Even with an act similar to the one that blocked Ombrina Mare", explained the constitutionalist Enzo Di Salvatore , co-founder of the National Coordination of the No Triv. In the case of Ombrina Mare, the oil platform that should have been located, not far from the beaches of the Costa dei Trabocchi , in the province of Chieti, the proceeding was concluded, but the ministry had not yet released the concession. It was a political decision not to proceed with the release, taken when the legitimate expectations had not yet matured. It can be done, therefore. But is it legitimate? Only if there are the conditions required by law, otherwise it may happen that the multinational will bring the State before the Tar , claiming a defect of the law. "But not by asserting the fact that a legitimate expectation has matured in the applicant that is not yet there", underlines Di Salvatore. Or you can get to an international arbitration to claim compensation , as happened with Ombrina Mare. In fact, in 2017, the oil company Rockhopper asked $ 13 million in damages from the International Center for Settlement of Investment Disputes for international arbitration.

Mogger

https://www.ilfattoquotidiano.it/2019/01/08/trivelle-il-governo-poteva-bloccarle-con-un-decreto-legge-recupereremo-con-una-norma-nel-dl-semplificazioni/4880403/

There has been a bit of Italian press coverage over the weekend on various oil exploration permits having been granted in the Ionian Sea. The Minister of Economic Development has stated that they have been granted in part to avoid the proceedings of Ombrina Mare.
Interesting that the Italian Government are trying to avoid further ICSID litigation. I wonder why?

Mogger