Member Info for NoEasy

Dunc, Given our progress I've been smiling about that quote for the last 18 months. Its a cracker.

Hamilton, Your 7p 'gap getting filled' post cracked me up even more. There's gaps and then there's chasm's. You got a timescale on your gap being filled?

It will be good when we are an 'OML'. Based on everything we know we should smash that with our initial blitz as prompted by our good friends at the NNPC.

(My understanding is that producing 10k barrels a day for a period of time gets you that 'OML" ticket.)

'Plans call for completing Noa-2 with a jack-up-based early production system, possibly accelerating activity next door in Texaco’s old Anyala/Madu complex at OML-83 and OML-85, now operated by indigenous start-up First E&P with a little help from Schlumberger.'

Why would getting our system up and running possibly accelerate next doors development? Indeed why even mention next door or who runs it. Only thing I could think of was if we had the same service provider and that they would save significant money by working on both projects simultaneously. Just as Arthur has hinted at before.

Still see Schlumberger as our service provider and that's been reinforced by those comment.s.

'Approvals should be in place before the end of this year, with work starting in the first quarter of 2019.'

Brilliant.

Its strange how the mind works but on reading that I envisaged us all stood around a table discussing that very line and this immediately popped into my head:

https://www.youtube.com/watch?v=3SAbJjktk7E

We investors are surely a most primitive people.

Sadly I don't drink.

At least that's what I tell the doctor;-)

Beginning to think this board has an alcohol problem!!!

Pretty obvious all here are wanting to be positive but we keep getting shot in the legs, stumble or even crawl on our bellies for a while and then pull ourselves back up again (or that could just be the alcohol). The companies doing the shooting and they are not helping us get back up we are having to do that ourselves. Bout time that changed. While not holding anyone to that timescale, news within the next four weeks would be very helpful.

Esski, Appreciate you haven't checked in for a while, its fair to say we have moved on. Pretty sociable board at the moment even with different views.

If you want to see desperate just tell us Arthurs considering doing another podcast!

Keep up the posts Rift.

Just to echo Rift's post thanks guys for some good, well thought out and reasoned posts.

R_Dunc, I also see no reason why the EM dispute should impede the SPA discussions. The actual signing of it is a different matter. That is taken from my own question to Arthur which was very specific about that issue. That has been reinforced in that no SPA has been signed to date despite an imminent signature previously reported as being due end August(ish).

If you get the chance might be worthwhile dropping him a line on that question alone to see if your answer is the same as mine.

Good luck to you pgnc. I hope we all benefit from what is huge potential here. All down to the resolution of one dispute it seems.

In a nutshell the resource under our feet hasn't decided to move on. PerverseIy I look forward to the next ten weeks as it will signpost our likely direction...for richer or poorer (apologies to our Canadian friends who had been slogging this out for a lot longer then me).

SL/PAA, You guys crack me up. You both know your enmity is the prelude for a full on love in. Don't want to witness it personally but a French kisss is in order.

This is all about time. That is the pressure here. It wouldn't matter to me personally if the dispute rumbled on for a few months or so if there wasn't an election in February and we had funds for another 12 months. So it is very important to me that we are sitting pretty by year end. We don't want the NNPC and Ministerial focus anywhere else other than getting their day job done. That will be hard for them to do from January onwards.

We have a lot to get through in 10 weeks. EM sorted then sign off on the $100m Service Provider Agreement (SPA) proving to the NNPC, along with the $50m Commercial Bank Mauritius deal, that we have the means to deliver on the Field Development Plan (FDP). We can then be signed off by the NNPC and the Minister.

Its doable. Given that we were within four weeks or so of the SPA and a near term presentation of the FDP to the NNPC when the dispute hit it is feasible that we could achieve all that but I don't see time as a friend here.

I hope Arthur doesn't have the election in mind for any excuses.

'Incidentally I think the twitter/email campaign initiated yesterday by Rift has led directly to the article released today, so pressure can work.'

I have no doubt in my mind that is true. Not Arthur's way to fill in between times with updates. He has responded only because of that pressure.

Well done to Rift and all who took time to email/retweet.

Haven't had time to digest yet but will have a proper look later.

Good post PAAA. It is healthy to understand that not every minute of every day is important for Sirius and neither should it be for those investing in it.

Hope you had a great ride.

ATB

Op, there hasn't been a court appearance for the Essar dispute. It has not progressed to court, it remains a dispute amongst partners with negotiations as far as we know still the way forward. That may change of course.

The Agamore dispute is due to be heard again on the 29th Oct.

We just won't get an honest appraisal Bob. They would have to be honest in an announcement to us which is the last thing they will want to do during negotiations, give their position out, when they can lie as much as they want to the other side in order to get the best deal.

Far be it for me to stand up for Arthur but I am firmly of the opinion that negotiating for settlement of the dispute is not in his day to day remit. Agreeing to a strategy and agreeing to the end decision yes but negotiating, no.

The CEO of Shorecan is as we know Kola. Arthur is not there to run Shorecan he is there to develop the field.

'They will have to say something soon as the 9th was a significant date on the calendar.'

Not necessarily as the notification we receive was worded in a manner that doesn't commit anything to that date other than after it EM would have a right to terminate the Shareholders Agreement. The notice didn't say it would apply to terminate on that date only that it would have the right to do so. The lack of an RNS tells us exactly that they haven't done so yet.

That woke you all up over there Brady:-)