Member Info for schlemiel

raises another $2.5bn from CP.

'At Havvieron, our exploration is now totally focused on growth which has continued to demonstrate potential for resource additions outside of the existing Inferred Mineral Resource limits. We have eight operating rigs exploring the high-grade targets in and around the main Havieron deposit including the high grade depth extents of the South East Crescent.” said Mr Biswas.


GGP now need to make NEW DISCOVERIES ('resource additions') which may well happen looking at today's update...note that 'exploration is now totally focused on growth'....finding something not seen before, as it were

2km from Havieron

mariog - Yes, today's news from Centrica (Spirit) does suggest developments to come on this front but what they are, we will have to wait but at least Centrica's achieved progress on this issue

Chris O'Shea, Group Chief Executive of Centrica, said:

"We are pleased to continue to bring focus to Centrica's portfolio with these transactions, which are aligned with our strategy to reduce our exposure to carbon intensive oil and gas exploration and production in a way that maximises shareholder value. With the disposal of these largely oil producing assets to buyers who will be able to meet the material decommissioning costs, we can now focus on realising value for our shareholders from Spirit's remaining gas reserves. Spirit will effectively be in run-off, and we will not explore for new hydrocarbon reserves; rather, we will focus on ensuring Spirit can fund its decommissioning liabilities whilst pursuing opportunities to leverage existing infrastructure to help the UK on its path to net zero.

This sale is another important milestone in the turnaround of Centrica and follows our significant organisational restructure last year and the sale of Direct Energy earlier in 2021. I remain excited about our future, as we continue to focus on creating shareholder value and delivering for our customers by helping them live sustainably, simply and affordably."

Centrica plc

Proposed sale of Spirit Energy's Norwegian Assets

Centrica announces major progress on strategic transformation with the sale of Spirit Energy's Norwegian oil and gas assets and run-off strategy for the remaining Spirit Energy business

· Disposal of entire Norwegian portfolio plus the Statfjord field

· Headline consideration to Spirit Energy of c.£800m with 1 Jan 2021 commercial effective date

· Net consideration to be reduced by cash flows retained from 1 Jan 2021 to completion

· In addition, related commodity price hedges will be closed at a total pre-tax cost of c.£180m

· All c.£830m of decommissioning liabilities transfer to the buyers, Sval Energi and Equinor

· Amended Shareholder Agreement focuses Spirit Energy on UK gas production & decommissioning

· Centrica's 69% share of proceeds expected to be c.£560m

· Amount of Net consideration dependent on date of completion, currently expected in Q2 2022

https://www.londonstockexchange.com/news-article/CNA/proposed-sale-of-spirit-energy-s-norwegian-assets/15241154

The Bonds were acquired from Stifel Nicolaus Europe Limited and will be surrendered for cancellation. Following cancellation, this will result in the Company further reducing its aggregate principal amount of the Bonds outstanding to U.S.$137,016,000 and leading to a net saving in debt repayment and interest charges of U.S.$1.8 million.

The Company will continue to evaluate its liability management options which may include further Bond repurchases from time to time, subject to market conditions.

This notification does not constitute or form part of an offer to sell or purchase, or a solicitation of an offer to sell or purchase, the Bonds or any other securities.

Antony Maris, CEO of Hurricane, commented:

"Managing our outstanding debt is a key focus for Hurricane and I am pleased we have been able to take this positive opportunity to further reduce our bond obligations. Despite the current economic climate and volatile oil price, and the remaining challenge of bridging any funding gap for the repayment of the bonds, we will continue to look at all options to maximise value from our assets as we focus on meeting our debt repayment obligations and beyond."

https://uk.advfn.com/stock-market/london/hurricane-energy-HUR/share-news/Hurricane-Energy-PLC-Repurchase-of-Convertible-Bon/86752648

Slide 11 – Commercial threshold

Slide 11 aims to address one of the key matters in the market, specifically, what defines a commercial flow rate success in the Beetaloo?

We forecast the three 1,000 metre horizontal wells, including the Tamboran 100% operated Maverick horizontal, to be drilled within the “Core Beetaloo” before the end of 2022, would be commercial at 30-day flow rate plateau of at least 3 terajoules per day. This is important because, as we have seen in other shale basins, development wells are typically three times longer providing for significant cost savings and productivity increases.

For our 1,000 metre well results, if 3 terajoules per day per 1,000 metre horizontal section is extrapolated to a potential future development well of more than 3,000 metres, this could deliver plateau rates of at least 9 terajoules per day. This highlights a key threshold we are aiming to achieve or beat with the flow results from the two Tanumbirini horizontal wells in EP 161.

We look forward to providing more information of these flow results in coming weeks.'

'We are eagerly looking forward to sharing the news of the initial flow test results from the Tanumbirini 2H and 3H horizontal wells in the next 30-days. The flow results from the program will follow approximately up to ten stages of fracture stimulation per well within the targeted Mid-Velkerri B formation'

https://www.asx.com.au/asxpdf/20211208/pdf/453xtxggly0ldl.pdf

Monetisation will be the turning point here.

1. It's heading in the right direction
2. The timeline to monetisation is now finite and reasonable

and dilution is part of the course for small resource companies like FOG. It's positive dilution if it accelerates monetisation rather than destructive dilution to 'keep the lights on and to pay salaries'

https://twitter.com/semicast_res/status/1468285513572536323

Full DMS/OMS test protocol from @EuroNCAP
available to read here:
https://cdn.euroncap.com/media/67268/euro-ncap-assessment-protocol-sa-safe-driving-v100.pdf
TLDR: Tesla cabin camera can’t meet the spec.

I believe this appointment indicates we could be on the verge of contract announcements via the RFQ's from various OEM's-T1's across various nations...A harbinger

'others as required'...more to come

https://seeingmachines.springboard.com.au/jobs/Canberra%20or%20Melbourne,%20AU/SM-1589454

The duties and responsibilities may include, but are not limited to:

Prepare direct and indirect tax reporting for the Group in Australia and for standalone subsidiaries in other jurisdictions (USA, UK, Germany, Japan and others as required)

There wouldn't be tax implications if they weren't revenues to report. Maybe we have landed some contracts in Japan after all

https://twitter.com/seeingmachines/status/1468055745186828291

'this opens the way for high flow rates when testing starts in December'

https://twitter.com/BobBurtonoz/status/1467622273179807745