Member Info for Romeike

Eco Atlantic down to single figures

https://www.lse.co.uk/ShareChart.html?sharechart=ECO&share=Eco-atlantic

Tullow decision on Guyana looking more understandable right now

https://www.youtube.com/watch?v=TWW758fzqJg

Once the debt is at a sustainable level, some free cash flow may be used to buy back stock

What Debt mountain? - that belongs to Haleon now

It amazes me that after years of being slated for having too generous a dividend GSK is now told the dividend must now be increased. Seriously GSK cannot seem to please anyone. AZ remains the darling despite being totally over valued and dependent on a charismatic leader that won't be there much longer.

Https://oilprice.com/Metals/Commodities/Rare-Earth-Prices-Skyrocket-Following-Burmese-Mining-Suspension.html

I think they may have tied the gas agreement to the TEN development plan. I am hopeful the Ghana will agree to both shortly. As usual it is a waiting game with anything involving government agencies but the pressure will be on now if Ghana wishes to keep receiving discounted gas.

I feel that GSK opted to settle because despite the overwhelming scientific evidence if it goes to trial they'd be at the mercy of a fickle California jury. It is not a favourable district for a rational outcome of the case based on facts.

GSK should not be paying out shareholders money to these scammers grasping for free cash. US needs to address the exploitation of vulnerable people by unethical ambulance chasers.

It is always amazing the extent to which certain nations seem determined to shoot themselves in the foot through some mix of laziness and greed when dealing with international operators.

They ought to get about 3 billion for that though. Goodbye debt but retain enough cash to service the remaining Kenya stake and maybe some left over for Ghana or Gabon, Ivory Coast, Guyana.

The GRA has also issued back-tax notices to Gold Fields, Kosmos Energy and Africa’s largest wireless carrier MTN Group Ltd., which earlier this month said its bill for 8.2 billion cedi ($674 million) was dropped after discussions with authorities.

For those with sub 2p averages, this is possibly a good moment to buy into the fear if you can accept more risk. Successful deployment of the new funds will accelerate production.

Some background to this, the GRA, the Ghana tax authority, has been sending spurious, back-dated tax demands to various companies operating in Ghana looking for a pay-off. It is nothing short of a "pay-to-play" squeeze on local businesses because Ghana is desparate for cash to fill the gap left by corruption. Tullow may end up paying something like 30 mil to get them to go away. It really is rather disappointing behaviour from Ghana where Tullow has always ran programs to invest in education and infrastructure, favoured local jobs and purchasing, and practised good corporate responsability. I hope such future community investements will be dramatically scaled back after this.

There are several examples, here is one:
https://www.dailymaverick.co.za/article/2023-01-15-mtn-rubbishes-ghana-tax-authoritys-r13bn-tax-claim/
https://www.bloomberg.com/news/articles/2023-02-03/ghana-scraps-672-million-back-tax-demand-from-mtn-after-talks

The fact that Dahl is at the event is in of itself interesting

NSVPatel stuck in UK mindset. UK is irrelevent to global oil consumption so it really doesn't matter if woke towns like Oxford introduce communist policies on their downtrodden populace.

Also provides some leverage when talking about tax as the Government hopefully has the sense to not play stupid games when half your navy and educations system is propped up by a corporate benfactor. Tullow has always done a lot more for the local communities where it is active than I see happening from Total, Shell etc.

Chief Executive Officer Simon Thomson and Chair Nicoletta Giadrossi have left the company's board, amid pressure from shareholder Palliser Capital Master Fund Ltd, which asked for both of them, and Chief Financial Officer James Smith, to leave the board...Meanwhile, Capricorn said non-executive directors Peter Kallos, Alison Wood, and Luis Araujo have also stepped down from the board.

...now literally taking Capricorn apart - after a months games one way and another they simply dispense with the CEO altogether - not clear how any of this is in the best interests of shareholders who could have been several months into a combined Tullow led entity and instead are looking at yet another deal being scrapped.

Recovering production follows a U pattern. Production was falling, now it is stable, next step is to raise production levels. The failed efforts on TEN are disappointing but they will eventually understand Enynra and Ntomme as well as they do Jubilee. There is significant oil at Ntomme. but they have't done much drilling there so there is a learning curve.