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what if when Mr Sheffield talked already to other big FOG shareholders and sold them his Beetaloo concept. Wouldn`t he be in the position to offer Mr POQ to fire him?
WetWater:
Oleo: I strongly suspect POQ is not taking BS's calls right now. POQ is going to deal with BS from a position of strength - you don't just give up the ROFR for a pancake and waffle :^)
I hope you are right that he is fighting for us Fog share holders as well and not just for his contract.
frackme: no shivers for me because it is Dr. Mello`s multi billion $ expensive learnig curve that lead to the world class discoveries Venus and Graff in Namibia in 2022. Chariot, I think this is the oil company that gave up to early in Namibia isn`t it?
BoToBo:
The new Beetaloo puppet Master presented already that TBN with Mr Riddle will be the operator of the Beetaloo and not FOG with Mr POQ.
I suppose that Mr Sheffield as important shareholder of Fog will invite Mr POQ to a breakfast for example and after this breakfast Mr POQ will not go to fight the TBN-Sheffield-ORG deal with or without 29 days left.
That`s my prognosis
newto: no worries about the second or third $. We will present a mouth watering Karoo concept and there will be enough share holders to finance our life style in South Africa and we both should keep our FOG shares because hopefully one well in the future will show a new record test production and this well will be the game changer in the Beetaloo - ;-)
Honestly: I am a big believer that Namibia, South Africa, Zimbabwe, Tansania, Mosambique will export huge amounts of oil and gas in the future. I think Dr. Hill from AOI said that just in Texas there were drilled more oil and gas wells than on the whole African continent. But it is not just the southern african rift systems where you find the Karoo everywhere as HC prone source rock, it is additional the eastern african rift systems and not to forget offshore (see publications of Dr. Marcio Mello)
Haha newtofo. I start to like and would move to SA for this idea.
If South Africa has a value of zero for FOG the market cap of FOG has to be a little bit lower than the market cap of TBN in the future.
I offer 1 canadian $ for the South African Karoo asset. Anybody here who could help me to set up a public company, perferable a finance guy for the CFO position. LOL
TBN will stay in the Beetalloo, Fog not
TBN is the operator and has got the drilling rig concept, the access to the pipeline, the gas sales agreements , Fog not.
All hints show me that Fog will vanish from the Beetaloo. POQ is telling us also that Fog will be sold since how many years?
But till today POQ has not presented any buyer and we are still waiting for the first well with the definitive commercial test production rate.
No fixation BoToBo. FOG got a geological very promising shale gas asset in South Africa.
But POQ did not become active in drilling faster much more wells or proving commercial gas production rates, in securing the pipeline access (see pipeline LOI from TBN), in selling the FOG gas in the Beetaloo to a customer, in organizing a concept for the CO2 issue to get CO2 neutral sales gas etc because he thought that he has had outsourced everything to ORG succefully ending in a comfortable passive and lazy joint venture position.
My point is that I see the same pattern, the same passivity of POQ in South Africa. Just because such E&P projects take ages or have politcal troubles it does not mean that you stop all work on these projects. You have to be proactive, which is possible with a small budget as well, otherwhise you could lose the advantage of a dominating position in a basin easily.
- Fog had the dominating position in the Beetaloo basin in the past but POQ dropped this ball and has lost this position definitively. Happily we still got the Karoo in South Africa?
- TBN is now in the dominating position in the Beetaloo. The sharp Mr Riddle has overtaken Mr. O`Quigley. First TBN is the biggest acrage holder. Second they got an experienced shale gas drilling contractor on board (this guys know how to drill shale gas wells like a factory and they will bring this know how to Australia) Third Mr Riddley has sold a part of the Beetaloo gas to Org already. Obviously Mr O`Quigley has overslept all three points or was betting on the wrong horse Org (= loser upstream company)
- But Mr Sheffield is the new puppet master.
Will Mr O`Quigley be able to get some benefits for Fog`s shareholders or just for himself and his exit strategy with the 30 day clause in the joint venture operating agreement with Org? Well I think the last words will be said by the new puppet master.
Riddle versus O`Quigley
One option could be that the Sheffields merge TBN and FOG, but then there is a job just for one sharp CEO. One advantage of the TBN-ORG deal ist that TBN sold already a part of the production to ORG as part of the deal.
And I would expect that the Sheffields farm a part out to the Japanese for example.
@stracat
"The proposition being posited that GKP can continue its current trajectory of shareholder returns for the next two to three years as well as fund a $900m investment programme is financially illiterate."
From where or how did you get the $ 900 millions investment programme?
I assume that a big part of the infrastructure exists already and in my opinion you do not need to drill 50 wells?
I even asume that you could reduce the number of wells, well pads etc. by drilling horizontal wells into the sweet spots of the reservoirs in the future.
https://oilprice.com/Energy/Crude-Oil/Nigerias-Oil-Exports-Plunge-To-Record-Low.html
Not politically.
I am saying the Kavango is geological relevant.
Because when the Karoo in the Kavango (plus offshore in Namibia and South Africa) went from targeting unconventional to conventional exploration targets then the Geology of Fog's Karoo should get a new geological assessment as well.
Dolarite, not dolomites :-)
In the Beetaloo Fog is not anymore in the driver seat and not much "real" work can be done at the drilling front.
But I got one more Karoo example: originally Recon Africa had the concept to explore for unconventional shale reservoirs in the Karoo in the Kavango Basin. Today Recon Africa is hunting for conventional reservoirs in the Kavango Basin. And Fog?