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As it's Navitas the Israeli government can provide government backed bonds..probably plan B

The British Government doesn't have a say as the Falklands Islands are self governing and they have the right to self determination. If they want to extract oil there's nothing the UK government can do about it. They don't run the island. Falklands have their own government.

Obviously the energy companies would rather develop the Falklands as it's half the tax rate compared to the North Sea.

MP's and energy companies are putting heavy pressure on the government to back the Falklands to extract it's own oil. The payoff will be energy security for the UK, investment going into the UK economy to develop Sea Lion and, the UK supplied by a low carbon per barrel project. It's bonkers to be importing oil from foreign countries not knowing what the carbon footprint is.

Doesn't affect the Falklands at all. More oil and gas is currently needed to ensure there is enough to transition to renewables. Peak oil is in 2030 at about 103m barrels a day consumption. After this date, world oil consumption should decline gradually as renewables take over. There has been a lack of investment in oil and gas which has created a shortage. More oil needs to come online particularly when economies pick up again and start growing.

Oil companies definitely fighting our corner with the government. Along with FIG and conservative MP's, it should give a boost to Falkland oilers. Borders in particular.

There's plenty of support for the Falklands oil and gas industry and for the Falklands to be able to secure it's long term economic future. It's not like they are asking the government to put money directly into the Sea Lion project. They just need any lending by banks and finance institutions to be guaranteed by UK government backed bonds I guess. the other option is the Israeli government do it..but that would look rather weak on the UK's part and not be a good advert for a the UK government or a British Overseas Territory. If there is lobbying going on, then I can't see how the government can maintain it's line while it continues to import oil and gas from foreign countries where they don't have a clue about the carbon emissions or how secure that energy is. As usual, there is no joined up thinking in Whitehall and so they need to change stance and support the Falklands and British industry as most of the development for the Falklands will be done out of Aberdeen. For Sea Lion the 3 phases are estimated to contribute £7B to the UK economy.

Hello Buffit. I don't have subscription to The Times articles but there are two articles today and below is a summary.

In more UK news, the Times reports that “net-zero sceptics” on the right of the Conservative Party have said it is “bizarrely inconsistent” for prime minister Rishi Sunak to support oil-and-gas drilling in the North Sea while refusing to support oil extraction in the Falklands Islands. The article says energy companies are lobbying the government to change rules introduced under former prime minister Boris Johnson that ended support for fossil-fuel extraction overseas, including in British overseas territories. The Times also has a column by freelance writer Jawad Iqbal titled “Britain should look to the Falklands for its oil needs”.

It's good to hear that oil companies are also putting pressure on Rishi to support The Falklands develop their oil and gas. It shows they are keen to get down there.

uk government needs a reality check. they have no problem supporting and importing oil from foreign countries that still contributes emissions, yet won't support their own british oversea territories. for the falklands, what is the point of being a british oversea territory if it doesn't support you. we know what maggie would do. bet she's spinning in her grave. sort it out rishi and support your oversea territories and stop being an ****.

Yes, it's odd how the UK government allows new licences for the North Sea and gives the go ahead to Rosebank saying that this doesn't increase carbon emissions, but lowers it, and yet for the Falklands they they say they can't help the FI government to invest in oil and gas as it's not net zero and goes against their COP 26. Surely they realise the UK needs a reliable source of oil and gas for many decades to come and to keep importing from other countries is ridiculous when you can keep the oil and gas in the family of British overseas territories and still meet net zero. ~ especially as the oil is low carbon per barrel. As for Borders, they are looking for a farmout partner that is fully cashed up to develop Darwin so don't need government help, but it would help if the government showed support for Sea Lion and the Falklands oil industry. Hopefully with pressure on Rishi, this will change.

Yes, it's odd how the UK government allows new licences for the North Sea and gives the go ahead to Rosebank saying that this doesn't increase carbon emissions, but lowers it, and yet for the Falklands they they say they can't help the FI government to invest in oil and gas as it's not net zero and goes against their COP 26. Surely they realise the UK needs a reliable source of oil and gas for many decades to come and to keep importing from other countries is ridiculous when you can keep the oil and gas in the family of British overseas territories at and still meet net zero. ~ especially as the oil is low carbon per barrel. As for Borders, they are looking for a farmout partner that is fully cashed up to develop Darwin so don't need government help, but it would help if the government showed support for Sea Lion and the Falklands oil industry. Hopefully with pressure on Rishi, this will change.

Uranium continues to head north. futures price at $83 and expected to hit $85 this week. NEO sitting on uranium close to surface. NEO looks a bargain and one for 2024. The recent director purchases at 1.25p underscores this. Now's the time to pick these up at a bonkers price.

Jason tweeted.

https://twitter.com/JB_MiningAfrica/status/1732766890060111954

Broker note has 2.2p target price on already confirmed 4.7MLbs JORC resource.

Expansion drilling in January aimed at doubling resource to 10MLbs. Less than 10% of the licence area drilled. Expect a new target price to 4.4p.

Surface samples have been sent to the lab this week on Twitter which near term can upgrade the 4.7MLbs by another 1MLbs.

Yes, the low has been reached. Sellers now looking at a rising price. If they were hoping to buy back then they will pay more and have less shares, Nice!

What will be even more stupid is when you pop back and find out you would have made a profit.. even more stupidity.

If they get some of that 8 TCF converted to risked resource then I don't see a problem with the sp increasing. It's all about whether we do get an update in the next few days...going by previous timeline announcements it's likely we will. Any news on the rig and whether it's been selected, along with the signing of the GSA the FDP and licence renewal, the company will be in a great position.

You can do reserve base lending against 2P reserves to finance projects. That's how bankable it is.

Crusty 2P reserves are bankable in the ground and has value. It's even more valuable out of the ground. But in the ground yes it is bankable. The nearer and easier it is to get it to market the more value in the ground it has. This is just standard industry knowledge.