Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
komakino
It's a bit complicated and disjointed because the video was cut, so we have not got the full detail. As an example he mentions the assignation, which to my mind must have been detailed somewhere earlier but not in the edited footage :
"We are surprised, very surprised, in more ways than one, by what they say, because coming from an employer , we think that they know the reality. Simply put, they seek to divert the employees, whose opinion would lead to a debate because the real debate does not lead to this assignation.
I think at this level we are not frightened and we are going to face this combat in the most professional manner possible so that we can obtain a victory.
It's a very light procedure for us in reality and it doesn't frighten us at all. Our clients are sufficiently strong to be able to face this procedure, devoid of all legal foundation. My clients are strong enough if the directors seek by every means to sap their morale. There are things organised, in parallel by persons unknown. There are meetings which have been convened by people who are fictional. This morning, the also strong committee, of the same heart as the employees, have a morale sufficiently strong. It's practical to establish the reality. It's a situation, insupportable for normal people, who find themselves in this situation, with family responsibilities, who want to pay for things the next day, to make them understand that their contract of employment is suspended, with in effect the non payment of your salary. You see, it's a very difficult situation but the personnel have a very strong morale.
For us, it's not a procedure that pre occupies them. It exists in reality a contentious conflict, of a project which is born but the people are at this time in a legal case they have actually chosen. I don't know their bottom line, or what they count on either, one doesn't know but we are confident, confident by our means of defence, confident of our process of justice and we will be winning the case.
To my clients who are listening to me, I simply say to them and ask them to have even stronger morale. To never accept to be deflected. To never accept to be destabilised by the manoeuvres put in place by the President of Esso to attempt to sap their morale, to attempt to destabilise them. I will advise them to be welded, as they have been all the way up to now. The end of the procedure arrives in every case because there are not procedures without end and I simply ask them to be strong and it will be able to finish.
It's a good update and the overall optimistic conclusion I take from it, is that it augurs well for the Exxon deal.
I'd imagine that the content of the news contained in the rns meant that there was some degree of flexibility as to when it would be released.
In short, if the Exxon deal is in any danger of not materialising, then this is the sort of rns I would expect to accompany the Chad/Cameroon market announcement and not to precede it.
ghh
I've got these two links. The penultimate paragraph of the first one mentions pricing and the second link covers the whole PIA.
https://www.thisdaylive.com/index.php/2021/10/03/chijioke-mama-pias-midstream-and-downstream-gas-infrastructure-fund-is-a-game-changer/
https://www.natlawreview.com/article/understanding-nigeria-s-petroleum-industry-act
O&W
I make it around $10.50 boe but as you are no doubt aware the important metric is that, as has already been said, at least 80% of the gross $22 million drops down to the bottom line. It's also worth re iterating that the "maximum daily nominated quantity" of gas in the contract can go up to 35 MMscfpd. There's still considerable upside.
PJT
But it did almost border on the subtle :)
From memory it was calculated that up to 10% of Hammerhead may lie in Orinduik and extrapolating those figures in the article, it's a nigh on 1 billion barrel discovery. Then of course there are the migratory channels to hopefully incremental reservoirs.
Wallact
It's a bit old, hence my "as far as I'm aware" but I've got this link:
https://connect.ihsmarkit.com/upstream-insight/article/phoenix/2725101/exxonmobil-outlines-hammerhead-development-plan
Phoebus
The Hammerhead turbidite channel systems extend into our Orinduik block and as far as I'm aware, the development wells for Hammerhead are due to start next year, with first oil scheduled for 2024. I'm just wondering, given Tullow's recent comment, if further drilling by our consortium in the vicinity is being delayed to tie in with what's happening over the border in the Starbroek.
IZ
Putting the serious hat on for a minute, if the fat lady is indeed clearing her throat, I am minded re your point (a) that AK previously stated that the RTO deal will be transformational and I do not believe he is much one for the hyperbole.
I've been sitting on the sidelines for some time as far as ECO is concerned. It's Orinduik that excites me, which, rightly or wrongly, I view as a large sponge soaked in oil. With both Tertiary and Cretaceous stacked plays adjacent to Hammerhead and the Starbroek block, I find it extraordinary that exploration appears to have been put onto the back burner. Perhaps the silver lining to this latest disappontment on Canje, is that it will lead to a re think.
There were circa 840 million placing shares so that could be quite some wait.
However, it is pretty clear there is a seller at present.
In the water depth we are talking about here, the rig should spud easily within 24 hours of arriving on location.
I'm more interested in what they find than when they spud, bearing in mind its fairly imminent.
For those not familiar with the interview that Zengas refers to:
https://www.youtube.com/watch?v=UZh1gj_Kj5I
www.marinetraffic.com/en/ais/home/centerx:124.5/centery:-12.5/zoom:10