Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Maybe further, my charts only go back that far
Interesting, the largest amount of volume in one day, so far since 2015. Somethings happening in the background for sure.
Taken from poster Regulatoruk from ODX board
Always helps to read and understand the Notice:
"The Value of Contract (inc. any possible extensions, exc. VAT) stated in this Contract Award Notice is not a committed value for the contract.
Volumes supplied via this contract are forecast quarterly.
The stated Value of Contract (inc. any possible extensions, exc. VAT) is an estimate based on projected volumes in the event that all potential contract extensions are enacted."
This *IS NOT* a Contract for £503m.
It is a Contract with a financial envelope up to £503m *IF* the volumes forecast are met *AND* if all possible contract extensions are enacted
I kept this valuation made by Mad P from 2018. Makes great reading, if you're a believer. We will soon find out.
202TCF gas and 18MMbbls oil. Using the same recoverable rates for the figures that are already in the CPR, then 140TCF and 2.9MMbbls of oil = 26.7MMbbls of oil equivalent (1TCF = 170m bbls of oil). With an oil price of $75/bbl (they have been selling their grade of oil at that price) = $2002.5bn.?A very conservative 1% of this figure for a takeover of Block 12 = $20bn. For a JV/farmout 10% of the takeover figure = $2bn. These figures equate to 98p and 9.8p per share. IMHO any deal will be somewhere in between those parameters, and there are two majors involved because of the huge amounts.?Add to this the politics, with USA, NATO, Atlantic Council, UK and EU wanting less reliance upon Russian gas.?Also factor in the same Maykop, same Kura basin as in Azerbaijan, but onshore and with very low costs of under $12/bbl (will drop lower as zone 19 wasn't used to determine costs). Remember, BP bought 4.36MMbbls for $10.5bn with costs well under $50/bbl. No wonder they want our shares!
Typical takeover amounts for O + G companies are 1 - 3%. As the numbers are so huge, it would have to be a consortium (we have two majors interested remember) and the 1% would likely be the top limit. Therefore, with 1% = $20bn, which equates to a share price of 98p. If a JV/farmout, then I would look at 0.1% = $2bn, which equates to 9.8p. If FRR were to go into field production alone borrowing the money, then £500m market cap. is achievable + $440m recoverable expenditure is roughly $1bn. Hence, why IMHO $2bn is the figure for a JV/farmout
Media Clarification
York, U.K. 27 January 2021: Abingdon Health (AIM: ABDX) notes an article by the Financial Times published this afternoon and provides the following clarification.
In its admission document published on 15 December 2020, the Company noted that it had received an order on 25 September 2020 from the Department for Health & Social Care ("DHSC") for 1 million tests out of an initial framework agreement for 10 million tests. It also stated that there were no guarantees of further orders from the DHSC and that the DHSC had the option to cancel its outstanding orders if a CE mark had not been granted for home use by 25 December 2020.
On 29 December 2020, Abingdon Health reiterated that the DHSC had the option to cancel outstanding orders if a CE mark had not been granted for home use by 25 December 2020 and confirmed that in any event the contract expired on 14th February 2021.
Subsequently, on 26 January, the Company announced that it had completed the delivery of its order of 1 million AbC-19 tests to the DHSC on 8 January 2021 and as noted previously, this contract will expire on 14 February 2021. The Company confirms that no further orders beyond the initial 1 million tests are expected to be placed under the DHSC contract. In-line with the Government's shift to a dynamic purchasing strategy, the Board expects that any future orders will be received via an application by the Company to future DHSC tender notices.
Enquiries:
Abingdon Heath plc
Chris Yates
Chief Executive Officer
Via Consilium
Chris Hand
Non-Executive Chairman
Background
The Company holds a 65% interest in SOG. SOG entered into the PSC with over US$22 million spent on development of block VIA. The minimum work programme stipulated by the PSC had been satisfactorily completed, as previously confirmed by the State Agency for Regulation of Oil and Gas Resources of Georgia (the "Agency"). The PSC granted SOG the exclusive rights of exploration and production of oil and gas on block VIA until 2032.
As previously announced, during 2017 the Agency announced a new public tender inter alia for two areas, respectively referred to as new blocks VIA and VIC. Both of these blocks were carved out of the block VIA, in relation to which SOG had been awarded exclusive exploration rights under the PSC. Upon conclusion of the public tender, exploration rights for these blocks were awarded to new bidders.
All previous efforts to reach an amicable resolution of this issue by the Company and SOG with the Agency were unsuccessful.
This announcement has been approved by Chairman Zhiwei (Kerry) Gu on behalf of the Company.
Contact Details
Star Phoenix Group Ltd
Evgenia Bezruchko (Group Corporate Development Manager & Joint Company Secretary)
e. admin@starphoenixgroup.com
t. +44 (0)20 3865 8430
WH Ireland Limited (Nominated Adviser and Broker)
James Joyce / Matthew Chan
RNS Number : 7791L
Star Phoenix Group Ltd
14 January 2021
Star Phoenix Group Ltd
("Star Phoenix" or "the Company")
15 January 2021
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014 ("MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
GEORGIA UPDATE - SERVING A NOTICE OF DISPUTE
Star Phoenix (AIM: STA), an international company with an oilfield services business in Trinidad and an oil and gas interest in Indonesia, is pleased to provide an update in relation to a legal dispute with the government of the Republic of Georgia ("Georgia") over a production sharing contract dated 29 March 2007 for block VIA (the "PSC").
The Company is pleased to advise that it and Strait Oil and Gas Limited ("SOG"), a private company incorporated in Gibraltar, in which Star Phoenix holds a 65% interest and which entered into the PSC, have engaged new legal advisers Enyo Law LLP ("Advisers") and have been working with them on progressing an arbitration claim against the government of Georgia.
The Advisers have now formally notified the government of Georgia of the existence of an investment dispute under the Energy Charter Treaty (the "ECT") (the "Notice of Dispute"). The Notice of Dispute sets out the position on SOG's unfair treatment in Georgia and how its investment in Georgia, which exceeds US$22 million, has been damaged. In particular, the Notice of Dispute states that the termination of the PSC by the Government of Georgia, as well as the subsequent re-tendering of the same territory as Block VIA, to which it held exclusive rights under the PSC, was unjustified, arbitrary and contrary to the provisions of the PSC and has deprived SOG of the entire value of its investment. Georgia's measures constitute breaches of the protections established by the ECT, including, inter alia Georgia's guarantee: (i) to observe obligations it entered into with SOG by concluding the PSC; (ii) not to impair by unreasonable or discriminatory measures the management, maintenance, use, enjoyment or disposal of the investment; (iii) that the investment would be accorded fair and equitable treatment; and (iv) that the management, maintenance, use, enjoyment or disposal of the investments would not be nationalised, expropriated or subject to measures having an effect equivalent to nationalisation or expropriation.
Whilst the Company and SOG continue to hope that an amicable solution can be found to the present dispute, they fully reserve all of their rights and remedies arising out of what they strongly believe to be ECT breaches by the government of Georgia and formally consent to submit their investment treaty claim under the ECT to international arbitration.
Morning guys. First post on this bb for me. Bought in here last week, after watching the interviews and doing research. Ive been out of O&G shares since 2019. This one has got me sucked right back in. There is so much potential here. The RR is right up there, which I am willing to take. Q1 is going to be very interesting quarter for investors.
Best post over the last few days Sherebel. Accurate, and to the point. Explains in black and white where we are, and what we have been told, from the most reliable route.