RE: $250 million invest from CUCBM!!13 Aug 2015 17:39
How much of the actual work for the 5 PSC's do you think GEL will actually do ? How much of the $250m "EXPECTED" ( India contract turned sour, LFB drilling turned sour, 100 well contracts GDG turned sour .... etc etc ) yes its only expected $250m being actually spent by CUCBM on the licence's not necessarily GEL getting $250m?
Look GEL used to sell units to create power - Nada now. GEL are now a cable laying company, so how much do you think it will cost to lay cables ? CUCBM are an SOE and they will forfill the vast majority of the work - end of. Thats what they do. Make the work load and do it themselves. Look at GDL. Best in class LFB , how many drilled in 2 years 20? Yep "Best in class". How many rigs have actually been working of the 27 they have ? Hardly any as the SOE's have it all tied up and will do 90% of the work. Ok , GEL are going to make some money , maybe GEL actually get to do $30m, but its all about getting the figures up for GDG. After December deadline don't hold your breath as it may be left to rot like GDL has been ? I know a hell of a lot more than you Mr Dross about this group, so guys do not trust ANYONE even emails from high up that seem great. I was told directly to be patient , that was 18 months ago for a 3 month sp increase. Yep - zippo. I sincerely say hope the long term guys get the money back, if ever, but I know many are down 50-90% so try not to gloat on here. Pretty sure most long termers will sell on any break even.