Member Info for RazorsEdge

This project has been delayed for various reasons. What is your forecast for this? Has this delay affected the development and even the credibility of the country?

Total and the partners in this project have a very strong desire to bring this project to realization as soon as possible. The technical requirements are under control and the future of these technical requirements has also been considered. Today, what we are discussing are the physical conditions. The government and the partners are trying to find a common ground to be able to proceed with the sanctioning of the project in such a way that it will be commercially viable for all parties. This will be achieved very soon. There is a very strong commitment on the part of the partners and the government. Uganda is a new player in the upstream sector so it is not unusual to find some delays in trying to being able to sort out the laws and find the right balance between trying to start this new sector and trying to make sure that the country understands what they are going into and how to benefit from it in the best interest of the country. Of course, this has taken some time. We hope that the time that it has taken has helped all the parties to learn some lessons. That will also help in the very near future to be able to find an amicable solution to the issues that have been in contention. It is difficult to give exact dates. The most important thing is to have a final investment decision. That is a point of no return where all parties agree to proceed on the mutually agreed upon terms and conditions. That is the first milestone and we expect to get that soon. Once that takes effect, everything else will be assured. A few months after that, we expect the real oil production to begin and the country will start benefitting. Once the FID is taken, the sector will immediately open because that is when the main investment will be done. We expect more than 10 billion dollars to be invested during this period. Once that comes into the economy, it will change the dynamics of the economy and everyone will benefit.

https://marcopolis.net/oil-and-gas-sector-in-uganda-an-interview-with-obi-imemba-of-total-uganda.htm

What projects do you have in the upstream segment?

The Lake Albert project is a very important and strategic project. It contains about 1 billion recoverable oil reserves. This project will require an investment of more than 10 billion dollars to bring it to realization. Total and our partners, namely Tullow and CNOOC, together with the government are working very hard to bring this project to fruition. There is a lot of work that has gone into this including the design and the engineering studies that have been completed. Today, the environmental and social impact assessment has been completed together with the government agency responsible, NEMA. We have published this report and it is available to the public. This location is very sensitive to the environment. It is close to a National Park. So, Total and our partners have put a lot of effort into making sure that the impact of this project on the environment, the people, and the society is minimized as much as possible. That is why the investment in this assessment is very important. In terms of the potential of this project, there is a lot of potential of creating a lot of employment opportunities for the people of Uganda. There will be a lot of local jobs that will be available, a lot of contracts and services for the locals to provide in logistics, construction, transportation, material procurement, etc. There will be a lot of opportunity for people to benefit from this project. All the people located within that area have been considered in the assessment. Teams are on the ground to discuss everything with them. However, many people are not aware of all these efforts, studies, and assessments that have been performed and the actions and mitigation measures that have been put into place. We have published our report in the dailies, the national newspapers, and online and we encourage people to look at it. People will be able to understand that there has been a very conscious and deliberate effort to make sure that every aspect and every detail of the consequences of this project has been considered and is being taken into account.

....cont

European stock markets traded lower during premarket as worries arose on the future of the trade deal between Washington and Beijing after United States President Donald Trump signed a bill supporting the anti-government protests in Hong Kong. Meanwhile, in business, Groupe PSA announced it was planning to sell its stake in its joint venture with Chongqing Changan Automotive.

The FTSE 100 was down 0.35% at 7:41 am CET, while the DAX and the CAC 40 surrendered 0.31%.

The euro and the pound were both flat against the dollar at 7:43 am CET, to sell for $1.10096 and $1.29129 respectively.

Breaking the News / MD

European stock market indexes were down on Thursday as investors focused on rising tensions between the United States and China after Beijing slammed the US for adopting a bill backing protesters in Hong Kong. Meanwhile, a poll released late on Wednesday showed that United Kingdom Prime Minister Boris Johnson is likely to win a majority in the December 12 general election.

US markets will be closed on Thursday for Thanksgiving.

The DAX lost 0.23% at 7:29 am CET. The CAC 40 in France was down 0.25% at 7:24 am CET and London's FTSE 100 fell 0.48% at 7:30 am CET.

The euro gained 0.06% against the dollar at 7:31 am CET to go for 1.10081.

Breaking the News / VP

European stocks increased their gains in premarket trade on Wednesday ahead of the publication of the latest import price index report from Germany. Additionally, focus remained on the United Kingdom ahead of the country's general election on December 12 after the European Union's head Brexit negotiator Michel Barnier promised he would reach a trade deal with the UK by late 2020.

The DAX rose 0.21% at 7:27 am CET while the FTSE 100 increased 0.22% at the same time. The CAC 40 gained 0.20% at 7:24 am CET.

The euro lost 0.14% against the dollar, trading for 1.00094 at 7:29 am CET.

Breaking the News / VP

Equities on major European stock markets were in the green in premarket trade on Tuesday after the Ministry of Commerce in Beijing revealed that Chinese Vice Premier Liu He had a phone conversation with United States Trade Representative Robert Lighthizer about "core issues of common concern" and found consensus on sorting out the key issues in the negotiations. European investors will also focus on the report on consumer confidence by GfK, scheduled to be released before the open.

The DAX gained 0.13% at 7:21 am CET. London's FTSE 100 increased by 0.23% at 7:22 am CET, while the CAC 40 rose 0.11% at 7:04 am CET.

The euro was flat compared to the dollar at 7:24 am CET, trading at 1.10140. The British pound lost 0.07% against the American currency, going for 1.28943 at the same time.

Breaking the News / MS

Pokerchips. It is an interesting situation. It leaves the stock impossible to invest in. But if he quits it’s game on again.

Romeike... I meant to say your story is very similar to mine I have had a spectacular 2019 and my profits are all but gone...

All I have is confidence and experience..

There’s something spooky about the way Tlw is trading, it used to trade in sync with the price of crude and there was little the market makers could do about it but that’s not the case anymore.
It’s wildcat... unpredictable, totally

Romeike on the day you refer to crude was up 15% and Joe was announced as well but TLW peaked at £2:49. I was caught and didn’t take any profit since I believed the share price would hit £2:70 later in the day.
This stinks, no faith, no company comment... if McDade quits the shares will jump.
He must be a tube... What other conclusion can be reached!

European markets were higher in premarket trade on Monday after a report from China denied earlier claims that Washington and Beijing were not close to a trade deal. Meanwhile, investors awaited business climate data from Germany and, in the United Kingdom, focus remained on the general election after the Tories and Labour revealed their manifestos.

The DAX increased 0.55% at 7:37 am CET, the FTSE 100 rose 0.34% at 7:38 am CET and the CAC 40 was up 0.45% at 7:35 am ET.

The euro was flat compared to the dollar as it gained 0.04% to go for 1.10262 at 7:46 am CET.

Breaking the News / VP

Stocks in Europe traded in the green in premarket on Friday as investors keep an eye on the trade events between the United States and China. According to reports, the two countries could be close to a trade deal with the removal of tariffs that would end the year and half-long trade dispute. Investors are anticipating German GDP figures, as well as the PMI data for Europe's two largest economies from IHS Markit. Also, the European Central Bank's President Christine Lagarde is to give her comments about the EU monetary policy.

The DAX in Germany recorded the growth of 0.09% at 7:52 am CET, while the CAC 40 was flat at the same time. In London, the FTSE 100 rose 0.19% at 7:53 am CET.

The pound grew 0.14% against the dollar at 7:38 am CET, going for 1.29241, while the euro traded 0.12% higher versus the greenback, selling for 1.10696 a minute later.

Breaking the News / TF

Happy Friday y’al

Shares in Europe traded in the red before the opening bell as investors awaited European Central Bank's policy meeting accounts set to be published later in the day. In business news, German steelmaker Thyssenkrupp missed estimates with a 1% increase in revenue and a further drop in EPS, citing internal restructuring.

On the trade front, the sentiment was cautious, and media reported yesterday that Washington and Beijing are struggling to agree on the details of removing tariffs proportionally and mutually, as a part of a potential trade agreement.

The DAX lost 0.44% in premarket trade. London's FTSE 100 was down 0.34% at 7:49 am CET, while the CAC 40 was 0.27% below the flatline at 7:46 am CET.

Both the euro and the pound were flat against the American dollar, selling for $1.10746 and $1.29260 at 7:51 am CET.

Breaking the News / NI

Stocks in Europe traded in the red in premarket on Wednesday as investors kept an eye on the UK general election campaign and the uncertain faith of the country's withdrawal from the EU.

Last night, leaders of the two most prominent UK parties, Boris Johnson of the Conservative and Jeremy Corbyn of the Labour Party, met in a televised debate and laid out their respective views and next steps on Brexit. Johnson insisted that the deal he hashed out with Brussels would keep the UK together, while Corbyn vowed to give the people of Britain another chance to have their say on Brexit.

The DAX in Germany recorded the steepest decline, losing 0.40% at 7:36 am CET, while the CAC 40 retreated 0.33% at the same time. In London, the FTSE 100 declined 0.17% at 7:38 am CET.

The pound lost 0.15% against the dollar at 7:39 am CET, going for 1.29085, while the euro traded flat versus the greenback, selling for 1.10721 a minute later.

Breaking the News / GG

Hello DukeW
Two points you were spot on with your assumption of mid January and I was caught with Tlw.
Lots of stuff... ying and yang , meaning if you set yourself up as an investor you must prepare for lows as well as highs.
Tullow have been culled and I have been caught in them but there’s the right and wrong way of treating such a situation.
The right way brings you out on top with valuable experience which leads to a better investor, better prepared for success in the future.
Thanks for your interest. I’m fine but still learning from my experiences.

Response just now from one of the dudes in Cey’s pr department.
———-
Hi Xxxxx,

Our Q4 2019 Report will be published on 15 January 2020.

Please let me know if you have any further questions.

Best regards,

Regarding Cey’s next market update.

Hello guys, since I have had no response to my post earlier I decided to contact Cey’s pr department and as I was composing the email I remembered doing exactly the same exercise about a year ago and their response was to update the Financial calendar on the website.
I’ll post their response provided they do.

Can anyone tell when Centamin’s next market update is.
I have searched their website but can’t find it, it’s happened before, it’s there but hell if I can see it.

Thanks in advance.

European equities recovered in premarket trade on Tuesday after posting losses at the close yesterday. Market participants were closely watching the latest developments in the trade and the freshest economic indicators.

The United States and China seemed to have come to another standstill in trade negotiations, with a report from yesterday suggesting that a dominant sentiment regarding trade in Beijing is pessimistic as Washington seems no to be willing to reverse levies on Chinese goods.

On the data front, investors will be in for the latest figures on the EU construction output.

The DAX in Germany rose 0.18% at 7:49 am CET, while the FTSE 100 gained 0.19% a minute later. In France, the CAC 40 advanced 0.09% at 7:51.

The pound was 0.10% higher versus the dollar, going for 1.29631 at 7:52 am CET, while the EU's single currency traded flat against the greenback, selling for 1.10784 at the same time.

Breaking the News / GG

The market already knew Van Eck owned 10.04% of Centamin, the notification told that he/they now own another 1.03% bringing their total ownership to 11.07. To be honest I do like the idea of any investment house owning that strong a percentage as it takes the fear out of ownership in general, but the overall reason there’s no one excited about the notification is it’s merely a 1.03 adjustment... good that it’s an increase and not a sell.

Is for the price of oil to perform well all of this coming week.
I’ve been watching crude’s trading and believe it’s on a good upward trend.