RE: We are worth a lot more than that14 Nov 2020 17:08
There’s been big volume all of a sudden. both here and at Rkh. Maybe something is going on and the market has found out ?
Here’s a Interesting post from LSE ... the same applies for BOR with 365mb of light sweet crude imho
I saw the proposed Navitas deal as a way of reducing the financial burden of FID - which Premier couldn't really afford. There is no immediate upfront significant cost for Chrysaor in going ahead or not with the Navitas deal is there. In the recent Premier RNS they said:
"The proposed farm-out of the Sea Lion licences to Navitas is subject to FIG and, pursuant to the Merger Agreement, Chrysaor's approval."
I would be surprised if Chrysaor approved the deal. Instead they could keep it as-was with 60%:40% or I think more likely negotiate with Rockhopper and keep the 70%:30% deal as proposed. Finally they could make an offer for Rockhopper and take 100% if they thought this was a valuable asset . Sea Lion would then be over 50% of their 2C resources with FEED paid for - so it can't sensibly be ignored unless oil is sub $45 for ever.