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On the subject of 3D, how much would it cost to shoot, where would you shoot it, how long would it take to complete and how much would it improve the odds? There's plenty to weigh up and the team have obviously decided against it.
As long as each side agrees terms and nothing crops up on the due diligence etc then its a done deal imo. All major share holders and the board will vote for it, PI's will vote for and against and some wont bother. I'm guessing the deal might be further down the line than we think and could possibly be put to shareholders prior to the 14th Feb. The general meeting will be interesting for those attending, its a shame it wont be filmed now.
Morocco wants first gas by the end of 2021 with payments to be made on a monthly basis, will the JV partner be obligated to get a shape on or will there be more slippage. What is abundantly clear if it wasn't before is sound needs more success with the drill bit for many to have any hope of seeing a return or their hard earned back. I like everyone else await the terms of the potential deal but it looks to me like we will at least get further opportunity to prove up more hydrocarbons.
Having only briefly read through the Q&A it looks to me we are ready to go on further exploration but are bound by the JV partner and their timelines. I fully expect more exploration if the deal goes through. Something is bubbling away with sidi but its anyone's guess if it will come to fruition. It would be slightly ironic if we had success at sidi after all the discontent with the original deal and the high hopes for Tendrara. Some of the conspiracy theories have been put to bed but we still await the finer detail of the eventual deal before we can form a judgement. It sounds to me JP dug himself a bloody big hole and went for broke with TE-9/10 when we might have had a couple of smaller and dare I say slightly safer plays but hindsight is a wonderful thing. Hero or zero and we all know how that turned out. Did anyone else get the feeling JP was sat next to Mohammed Seghiri during the fsc, possibly giving him a helping hand?
Its good to see the company are still going to keep on with the FSC, id rather we had some sort of comms (rns's aside of course). Given the price and all that's gone on I very much doubt anything they say tomorrow will appease the masses. I guess todays rns was announced to let them discuss sidi in some detail as I'm sure they will have had plenty of inbound on the subject buts lets see.
That's the positives out of the way...lol. I'll be amazed if we hear anything answered on the JV and anything connected with it, the offers that where apparently made, anything more on JP, JJ, the Chairman going (although I have asked) and how much JP is on as a consultant.
I have a list as long as my arm that id like to ask but haven't bothered as I know it is a waste of time. Its a shame the FSC wasn't live as in the past but a small minority have ruined that for all. Let see what comes about but I feel we will have to wait for the JV announcement (or not) before we hear anything more of substance.
Whilst constantly calling on someone else to organise an action group, facebook sites, media campaigns, force an EGM, hire/chip in for a barrister, complain to the FCA etc etc. Full of ideas, full of sh it and not prepared to do any of the work themselves. Easy posting and then standing back and moaning nothing is happening, man up if you feel so strongly about it and do as Trellis has. They cant put it down to being too busy, they have plenty of time to post on here or perhaps some have no interest in the above but are purely driven by an agenda. Here today, gone tomorrow...….
He has 18m or so reasons to get this going north, there's no friends in business. I don't believe the cloak and dagger theories about Marco selling this off to his mates or himself and all that malarkey from this morning. Foxys theories about JP running off to Switzerland in a few months with this in his back pocket haven't come to fruition either. Sentiment imo has brought the price crashing down and why its ended up 15% today off the back of a departure. Does JP going now really make much difference to put 14% on the share price. Having read the rns it sounds like the JV deal is almost a done thing whether he's CEO or not.
JP was always likely to go after this deal was concluded one way or another. A straight LE would have seen his job go and the JV deal as the rns stated doesn't require him. We will never know if it was all the flak/abuse, poor sentiment or his intentions to go but I think he would have wanted to see it out until the deal was concluded. Whether he has been told to step aside earlier or has decided himself is anyone's guess. He is still with us in his consultancy role though until May 2020. How much is that costing us?