Member Info for Oiltdr

Char have one bit of good news and three bits of not so good news coming up.

There have been two dates set provisionally which have had to be postponed - there are many counterparties here and the relevant parliamentary authorities were delayed. It’s near . Patience - there’s no rush.

They have a conditional agreement which only becomes binding on the conditions being met. Hence why they are so relaxed in making payments re rig.

They won’t spend 10m - there are cleverer ways to finance deals

Prob a tad less but with potential for more

On the M&A side absolutely production

They have a piece of M&A they want to do when this cash comes in - watch out for it !

The date was set for the signing ceremony ten days ago.

That not quite how it works theobald. Whilst A1 and A2 were successful the resources estimates flowing from them deriving from the data received included reasonable risked assumptions over how far those resevaoirs stretched and in relation to net pay across that horizon. This will have been dented by A3 and as such I expect a resources downgrade which has been referred to. My understanding is still commercial and not vastly substantial

Liquidity is very low here. It took me 5 hours to get 10k worth of shares and had to buy in three blocks. When news comes imminently this will move as it’s very tightly held.

For what it’s worth the government is very likely to blink over North Sea oil - just enough to keep field investment moving.

Sucks definately lining up but not expecting news til late feb at the earliest. I think there’s a project meeting on the Enquest fields in early March to discuss concepts. Wouldn’t expect deal to close until late feb at earliest.

Nice to see the price move though.

They had three other negotiations going on simultaneously - there was no shortage of interest in the data room

You might want to read what Sunda has posted on linkedin and Twitter this morning re the Phillipines.

Is close

The investment is going to be by way of a capital injection into the SPV subsidiary that owns the licence - as such there will be no dilution to Sunda equity but only in the license interest.

The date for the signing ceremony has been agreed in phillipines

The date for the signing ceremony has been set.

Won’t be til after mid year - application by march

Sorry Seascape are making submissions in the Malaysia 2025 bid round

Malaysia are making submissions for further acquisitions in the 2025 bid round. FYI (aside from anything else)