Member Info for Neversellshell22

https://www.talosenergy.com/investor-relations/news/news-details/2022/Talos-Energy-Announces-Finalization-of-the-Zama-Unitization-Process/default.aspx

HOUSTON, March 28, 2022 /PRNewswire/ -- Talos Energy Inc. ("Talos" or the "Company") (NYSE: TALO) announced today that it has received the final Unitization Resolution ("UR") from Mexico's Ministry of Energy ("SENER") regarding the development of the Zama field in offshore Mexico. Among other things, the UR affirms the appointment of Petróleos Mexicanos ("Pemex") as operator of the unit. Unitization of the Zama field was required after determination that the field is located within both the Talos-operated Block 7 and an adjacent Pemex-operated block and provides for joint development of the entire reservoir instead of each party developing its own block.

(PRNewsfoto/Talos Energy)

28th March 2022....

Talos will maintain a 17.35% participating interest in the Zama field, and the Company anticipates submission of a Unit Development Plan for approval by the working interest partners within 6-12 months, a critical step before the parties can make a Final Investment Decision ("FID") in 2023. Talos will participate in activities related to reaching FID, while also continuing to evaluate various strategic and legal options. The Company does not expect any material changes to its 2022 capital expenditures guidance as a result of the issuance of the UR.

Talos, as operator and 35% partner in the Block 7 lease, discovered the Zama field in 2017 as the first private sector consortium to enter Mexico following the country's major energy reforms. Zama was subsequently named the 2017 Global Discovery of the Year by Wood Mackenzie, and the field was fully appraised by mid-2019. An independent third-party reserves auditor estimated the discovered recoverable resource volumes to be between approximately 735 – 950 million barrels of oil equivalent, and Zama could produce over 160,000 barrels of oil equivalent per day once fully developed. Talos has invested approximately $104 million in Zama since 2015 and these past investments are subject to cost recovery under the Production Sharing Contract.

Talos President and Chief Executive Officer Timothy S. Duncan stated: "We are very proud of our operational leadership in Mexico's private energy sector and of our accomplishments thus far with our world-class Zama discovery. We are disappointed that despite our consistent track record of success, safety and progress we were not provided the opportunity to retain our role as operator for the benefit of the project. However, we understand how important accelerated first oil from Zama is for the Mexican energy sector and all of the Company's stakeholders and we will work with the urgency required to finalize the Unit Development Plan so FID can be reached."

This could be huge news......

HTTPS://seekingalpha.com/news/3845697-talos-energy-touches-two-and-a-half-year-high-as-mexico-says-zama-deal-near HTTPS://www.harbourenergy.com/operations/mexico/

"The Mexican government is close to reaching a deal with Talos Energy (NYSE:TALO) over the future of the Zama offshore oilfield that could include additional investment from state-owned Pemex, President Andres Manuel Lopez Obrador said on Friday.

Talos (TALO) would agree not to file an arbitration claim against Pemex, as it once planned to do, and Pemex would remain operator of the field, according to a Bloomberg report, although specific deal terms are not determined.

The handling of Zama, which holds ~900M boe, is being closely watched by U.S. investors as a test of Lopez Obrador's commitment to respecting private contracts in the politically sensitive energy sector.

"It looks like an agreement is being reached. I myself told the company's manager that their investments are guaranteed," the president said at a news conference today."

FT 100
Board own 2.6% of Company
Funds buying in
GIC near exit (possibly)
Record debt Reduction
Tolmont Ramping up
Tomont east Gas due 2023
Drilling at Catcher
Drilling at J Area
Drilling at Andoman,
Major drilling at Timpani
Zama FID nearing
Tuna FID nearing
Net Zero Projects progressing
Possible M&A Activity.
Possible Buy backs
Possible Dividend increase

I notice big cvapricorn / tullow merger....

Shame we didn't pick up either of these. I wonder if we had a sniff around.....

13.5 million shares traded today where as its usually 3-6 million.

You know what that means don't you?....Nope neither do I .....

Could even be positive.....

BaysilHope and all,

So we know that GIC that they have sold down massively up to a month ago.

And we believe they are possibly still continuing to sell.

I know they are part of a very complex share structure set up which everybody is now free to sell as they wish.

My question is why would they wish to sell at the present price??

So it get the dreadful WF and the damage it could do not just for harbour but for all North Sea companies.

Can somebody explain please giving an example if possible how the Investment tax works works for us and how it might help next year for a start.

"The levy also includes an Investment Allowance, which will attempt to incentivise those energy businesses into spending money by offering 91p of tax relief for every £1 they invest. "

Heres to a period of us rising with some RNS's saying the selling is over.

To be honest if its right that it hits us for 107$ for the year with current prices I could live with that.

The despicable timing of this absolutely stinks. Im not necessarily against helping out in some way but with discussions across the industry Im sure we could have found a win win solution......

Well if your new to Harbour Energy it was a fantastic day. If your a long termer you've definatley had better days.

Not so sure it was all to do with the new tax as the amounts don't stack up to the SP drop but it certainly spooked a lot of people. And once the ball was rolling........

The thing is with Harbour Energy they do have a lot of guns sand if facing them to the North Sea isn't the way to look they have other options.

Worth remembering they asre producing over 200k BOPD and whilst this is very very unwelcome they will have the very best CFO in the business looking at how to get the best in terms of returns minimizing tax etc etc.

They just need to go back to their plans and see what works best for them.....

Onward and upwards to next week and hopefully a bit more stability....

There were a few who took delight in the pain of others today....I hope Life brings you everything you deserve.....

NSS

Very decnet bet BH.

If Harbour did a monthly update on 1st June they may well be saying:

"Net debt reduced to 1.5 $ from $1.7 billion after recently coming down from 2.3$ in December 2021"

Its fantastic......

Entered into FT 100
Funds buying in
GIC near exit
Record debt Reduction
Tolmont Ramping up
Tomont east Gas due 2023
Drilling at Catcher
Drilling at J Area
Drilling at Andoman,
Major drilling at Timpani
Zama FID nearing
Tuna FID nearing
Net Zero Projects progressing
Possible M&A Activity.
Possible Buy backs
Possible Dividend increase

Yes it tough to shout from the rooftops after our current barrage of sells but for me long term this is a fantastic investment.

If you wont hold a share for 5 years you shouldn't hold it for 5 mins.

NSS

Some good points kign but not sure on all of them ......

Limited profitability.....Approx 1.5 BILLION in 2022

Exited Sea Lion...To Risky and Capex intensive.

Zama. Some fights you cannot win. Still grteat investment

Carbon capture project ongoing. As announced in update & in partnership with Shell.

Talks of new acquisitions are nearly always ongoing. We just haven't heard yet.

There are many many reasons to be cheerful about Harbours future....

Just had confirmation from the company that we can indeed start Buybacks now.

Would this be a great time now to start these ?????

Also the company is aware of some TR1s with GIC and other legacy investors selling out in recent months but of course wouldn't make any further comment.

IR were very very friendly and helpful as always.....

NSS

hydraides,

I just wondered why you would constantly be on the board attacking the company if you are no longer a shareholder.

It's not the actions of a normal rational person.....

In fact it's pathetic.........

So are we .

Now going away you poisonous little person.......

Thanks Soder,

Best post I've read in agas.....

NSS

"In accordance with the London Stock Exchange (LSE) rules, Panel of Takeover
and Mergers board (PTM) rules, an investor who acquires, exceeds or falls below 3%, 4%, 5%, 6%, 7%, 8%, 9%, 10% and each 1% threshold thereafter up to 100% of a UK Company, must, under the Companies Act 1985 Section 198, disclose their interests to the London Stock Exchange and the company, within two days. The company may impose sanctions if disclosure not completed."

Is all of our Gas North Sea?

I notice natural Gas is up 8% tonight at 8.75$.

Where as ours is down 7% at £1.32

Apparement the UK now has a huge surplus of Gas at present. However we have no storage for it as much has been closed down and we cant export it as all the European pipes are over capacity.

No doubt in the winter we will import our own gas at considerable cost.....

You couldn't make it up....

So the last RNS we had was on 11th May and this was relating to shares sold up to 5th May.

We have had 12 trading days and decent volume since them including Including 16 million one day in early May and over 6 millions shares on Friday and today.

If they are still selling we must be overdue an RNS but maybe they aren't...Who knows ?

Any thoughts ?

Hi Plebleens,

The next court date for the Capitol Reduction is "in or around July" with the actual programme starting the day following the court decision.

Cheers

NSS

PS....Hopefully another RNS from GIC soon....

Harbour up 1.2%.....Duh

Hurry along or you'll be late for school.......