Member Info for SEA7

https://www.farmoutangel.com/assets/angola-block-23/

Consideration Sought : $10,000,000

https://www.farmoutangel.com/assets/angola-block-3-05/

Consideration Sought : $10,000,000

Me neither - added a bit more today

progress at last - I see the pacific valour near the rig on marine traffic - an anchor handling vessel that is designed to tow rigs

No problem viable

https://twitter.com/lvcgplc?lang=en

The bill passed its 3rd reading last night and goes to royal assent - meaning the last obstacle in the way of the maari deal is removed.

Now that the govt and the climate activists have got what they wanted, which was the deal blocked until decom legislation was in place - it can proceed, as they cannot object now.

https://www.share-talk.com/malcys-blog-oil-price-petrotal-uog-jadestone-president-block-pharos-finally/#gs.hhcjta

It seems a while since I have heard anything from Jadestone but this looks to be a small piece of housekeeping. Maybe the company will be coming over sometime so then we can catch up in person. The Bucket List is up for its MOT so December will be time for a review, this a favourite so should hang on in there!

Afentra is looking across all Africa and has focused on production in West Africa. Nigeria has a number of well-developed indigenous companies, albeit ones which require significant funding.

“As assets become available is there the financing available for companies to acquire those assets? Maybe they need to co-join with international independents, bringing in the competency of managing the local operations with international finance,” says McDade.

https://african.business/2021/11/energy-resources/new-challengers-crowd-into-africas-oil-space/

The vacated space has also opened up an opportunity for new foreign companies to step in. One such player is Afentra, a new Africa-focused company led by Paul McDade, former CEO at Tullow Oil. He has experience in the North Sea from his Tullow days. And what has played out in the last 25 years in the North Sea is playing out in West Africa.

“There’s going to be a migration of assets from much larger IOCs to smaller independent oil and gas companies. The majors have better places to allocate their capital. They see that these assets may be better off in the hands of a smaller, independent oil and gas company,” says McDade.

The ADR market
There are currently over 3,000 ADR programmes of which nearly 1,600 are sponsored. Of these, over 170 are listed on Nasdaq alongside AstraZeneca including some of the largest companies from Europe, Latin America and Asia Pacific.

Who buys ADRs?
ADRs are bought by both institutional and retail investors. Over $800 billion of ADRs are currently held by institutional holders.

deutche bank run the ADR program for astrazenica.

https://www.astrazeneca.com/investor-relations/astrazeneca-adr-programme.html

(1) Investor contacts broker and requests purchase of company’s ADR. If no ADRs are available, the issuance process begins.

(2) Broker contacts local broker in home market and

(3) the local broker purchases ordinary shares in the home market.

(4) Ordinary shares are deposited with a local custodian and

(5) the custodian instructs the depositary to issue ADRs which represent the shares received.

(6) The depositary issues the ADRs and delivers them in physical form or book form through DTC, Euroclear or Clearstream as applicable.

(7) The broker delivers the DRs to the investor or credits the investor’s account.

A bank issues a sponsored ADR on behalf of the foreign company. The bank and the business enter into a legal arrangement. The foreign company usually pays the costs of issuing an ADR and retains control over it, while the bank handles the transactions with investors. Sponsored ADRs are categorized by what degree the foreign company complies with Securities and Exchange Commission (SEC) regulations and American accounting procedures.

In order to begin offering ADRs, a U.S. bank must purchase shares on a foreign exchange. The bank holds the stock as inventory and issues an ADR for domestic trading. ADRs list on either the New York Stock Exchange (NYSE) or the Nasdaq, but they are also sold over-the-counter (OTC).

thanks....

Level-II ADRs are allowed to be listed on a major U.S. stock exchange such as the New York Stock Exchange or the Nasdaq Stock Market.1

Level-II ADRs provide the issuing foreign company greater exposure in the United States without needing to complete a public offering.

Tweet about Maari quoting OMV chair

https://twitter.com/jadestoneenergy/status/1463151586188963847?s=21

should get an update on this soon - - which may improve the volumes overall...

Proposed launch of a Level 2 Sponsored American Depositary Receipt ("ADR") programme. The Board of Hunting has begun planning for the launch of a level 2 sponsored ADR programme, to enable Hunting shares to be traded more easily by US investors. The programme is likely to commence towards the end of 2021, following the appointment of a suitable sponsor and the receipt of approvals from the relevant US regulatory authorities. The Directors have commenced this process to increase the profile of Hunting with US investors, as the US has been the core of Hunting's business for a number of years, driving the majority of revenue and profits, and the US is where most of our quoted peers are listed.

started to scale in today - trading at sub net current asset value - 20% gap up to reach NAV

this is the direction of travel of the Formula industry - it will get more and more interest and we could see the South african event being far more attractive than it would have been

https://www.linknovate.com/affiliation/modu-ltd-4884671/all/

The Skua-10 and Skua-11 workovers are estimated to take 21 and 31 days each, respectively, while drilling of the Montara H6 well is estimated to take 80 days.

.....

The 28th sept rns said Sku 11 had commenced - so that would be about the 28th Oct to finish, then Sku 10 would then start and should finish today or thereabouts.

https://uk.practicallaw.thomsonreuters.com/w-006-9109?transitionType=Default&contextData=(sc.Default)

Suspension and cancellation of AIM company shares
Following the announcement of a reverse takeover transaction that has been agreed or is in contemplation, the AIM company's securities will be suspended by the Exchange until the AIM company has published its admission document in respect of the enlarged group or the proposed acquisition negotiations are terminated (Guidance Notes to AIM Rule 14). Suspension ensures investors cannot deal without the appropriate information on which to base their investment decision. Therefore, once the admission document is published dealings can recommence and the suspension is lifted.