Member Info for pauldrayton

Well it seems the JV partner is either RRE or Repsol Sinopec - more likely to be Repsol Sinopec and the delay has been caused by their restructuring. It sounds to me like I3E haven't given up on the existing deal but are correctly looking at alternative options. RRE may well be one of those alternatives, and I suspect there will be plenty of others sniffing around with current oil prices. The next few weeks could get very interesting.

From 5th July so result of Al Jahraa-6 due any time now:

Development well Al Jahraa-6 on the Al Jahraa field is expected to spud this week. The primary objective of the well is the producing AR-C reservoir, at the crest of the structure. The well has an additional exploration target in the deeper Bahariya Formation sands which are productive in adjacent licences. This well is expected to take approximately 60 days to drill and will be immediately followed by a second development well in the field (Al Jahraa-10). The water injection programme in Al Jahraa is progressing to schedule and injection is expected to commence in mid-July. The third and final well in the 2018 Abu Sennan drilling campaign is an exploration well targeting Prospect S.

Oulton is very interesting - could be the reason for the latest fund raise.

Some talk on ADVFN that SOCO International might be the JV partner. It would be their first foray into the North Sea, but you never know. Should find out for definite within a week now.

"Imminent" referred to the appointment of a pathfinder bank, which has been done.

Internally, PMO have always had a consistent oil price of $65+ in mind to sanction Sea Lion.

If it stays $70+ then there is an excellent chance that FID is positive.

Interesting Mogger - perhaps we'll find out a bit more about what's happening in the results this week.

I don't expect there to be any overruns on the exclusivity period - news should arrive very soon.

Let's hope it's good news!

Looks like results out tomorrow.

Still moored.

Graham seemed to think on Tuesday that everything is still on track so we should get news any time within the next two weeks.

We might get news on Al Jahraa-6 and the Bahariya Formation sands.

Well we know that news is incoming, it's just a question of when. Two and a half weeks maximum now but recent volume suggests it might be sooner rather than later in that timeframe.

Interim Results were published on 7th September last year so I suspect they will be released any time now.

Yes a large buyer accumulating before news?

News coming this week?

Something is definitely afoot.....

Nothing has really changed since the last presentation.

I suspect once funding is announced it will be accompanied with a new presentation which will include forward plans and PR will go into overdrive over the next few months.

Not long to wait now.

It formed part of the MOG acquisition which cost about $20million from memory.

Judging by the share price reaction, the presentation is going down well.

Funding news incoming....

Yes I think the uncertainty over funding is the only thing holding this back. If the news is positive then I3E should re-rate over the coming months, with first oil scheduled for next year.

The Upstream article was wrong. SBM Offshore are still in the running but BW Offshore have been asked to put forward a proposal as well, after successfully working with PMO on Catcher. Costs are minimal because they are just making modifications to the Catcher design, and timelines to FID & sanction are unaffected.

Nothing to worry about.

https://www.bbc.co.uk/news/business-45350218