Certainly have acquired this and a few others to my portfollio today. But if anyone remembers from the John Mckeon days this could be a big-un. End of day there were a few sellers but tomorrow is another day when the RNS is digested.
While the optimal structure of the Proposed Transaction remains under evaluation, the Board is pleased to relay that the principle of a Proposed Transaction has been agreed between Pathfinder and General Jacinto Veloso who, with his family interests, is a 50 per cent shareholder in the entity to which the Licence is currently registered
It does look like finally getting there. The sp will find its way back up as it looks real cheap if everything is sorted.
This revision has resulted in an estimated pre-tax net present value ("NPV") at a 10 per cent discount rate of US$1.05 billion; with projected annual revenues of US$323 million over a mine life of 30 years. The project internal rate of return ("IRR") is expected to be approximately 25 per cent. The revised findings represent a near doubling of the previously reported equivalent NPV and an increase of 6.1 per cent in the project IRR. A summary of the key differences in scoping study outcomes between the 2011 Report and the 2019 Report is set out below.
Expect a big fall today. The news article the other day gave a prior warning and a time to get out over £3. Its a huge shame as this is a great stock. It will eventually bounce back at some point but not today. And no idea how big the fall will be.
II think if you are looking to trade this then it can very difficult. The spread is huge and is in tandem with the illiquidity. Does not deflect that this is still trading at around or less than 20% nav.
https://www.offshoreenergytoday.com/baron-oil-discussing-southeast-asia-expansion/Baron Oil discussing southeast Asia expansionSundaGas PSCAlthough the company did not disclose which PSC it was referring to, it is worth noting that SundaGas owns only one PSC.Namely, the Singapore firm owns the Telen PSC in the Mahakam oil and gas production region, offshore Kalimantan, Indonesia, which SundaGas bought from Total in March 2018. It now fully owns and operates Telen through its affiliate SundaGas Indonesia Telen B.V.The Telen PSC is approximately 468 square kilometers across two-part blocks named Hiu Marah and Area II. Hiu Marah lies adjacent to the Hiu Aman discovery and approximately 20 km from the West Seno producing field and pipeline infrastructure that takes gas to the Bontang LNG export facility.It contains a low-risk Hiu Marah gas and oil prospect for which SundaGas is evaluating 3D seismic to identify optimal locations for drilling.Area II lies in an ultra-deepwater area with very limited seismic data and few nearby wells. The company’s in-house studies reveal this area to be mature for the generation of significant volumes of oil.SundaGas plans to acquire seismic data over Area II to further de-risk an oil play in this area and to locate future sites for potential drilling.