Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
The company has paid 0.0025p for the new option shares, divide £99023.37 by 39,609,348 = £0.0025.
The option prices in the table below are other options previously awarded.
A nice bonus if you are one of those awarded options at that price, especially if your current holding is under water, a nice way to recover your losses!
The facts are that the last major gas discovery onshore Trinidad was bought out very early on in the development of that field. My view is with the probable decline of oil demand over the next couple of decades and the high local demand for gas and a global increase in demand for gas then this discovery especially if TXP hit another good pool is going to be very sought after by the majors as insulation from declining oil profits. If another monster is found then I don't think the SP in a years time will be the talking point!
This was not a salary substitute issue of shares James, it was an employee exercising options. Buying them at a reduced price, probably to raise a few bob by selling as i am not aware of any options that were about to expire?
Maybe because the their MM's are a bit more honest than ours or their system doesn't allow trades to be put through the wrong side of the mid?
Lots of buys gone through as sells today, look on the google graph it separates them clearly. I got the impression they where trying to induce more selling?
Search Lon TXP
Makingdough, I believe there where 3 wells drilled at the time of offer with Corosan being of a similar size to Coho and another sized a little larger.
http://killajoules.wikidot.com/archive:bg-group-to-make-agreed-offer-for-further-exploratio
It's all out there if you care to DYOR
There is no way PB will accept a low ball offer like that! The Carapal ridge field sold for over half the well head value of its 2P reserves and the offer came while the well was still on test.
http://hydracapital.ca/hydra-blog.html?fbclid=IwAR2f_pvyGg9ZyeY4gMSDl4aSH3RbxctLxcI-uTBOJquhUEMMdVsxGyvyPLs
Yes it seems the MM's here have a chunk to dispose of, probably from North? They are matching the buying volume with sells so we wont be going anywhere until they are out. Hopefully before the reserves are announced!
Trade, my thinking is that a well that could theoretically when wide open flow 482MMcfd (nearly 0.5bcf) then surely it must be being fed from a source way larger than the 200-300bcf you are suggesting. Just my logic, nothing else. If Chinook hits large and we are pretty safe presuming Cascadura deep will then this is going to be a real monster for all of us! It may take a while until all the volumes and flow rates are know for all 3 wells but when we get there TXP will be Very Hot Property!
My understanding on the gas pricing deal is that NGC needed to know more info on the volume of gas produced as this would allow them to calculate the pay back term for their investment in infrastructure connecting the wells together and to the main. Which is why it has been said the price couldn't be agreed until later in the year when the outputs of both Cascadura and Chinook where known, so I don't see this being decided until after Chinook testing. I could save them some time, just use the biggest pipes you can find!!
Corpse, There were some valuations done based on reserves for TXP a while ago, although I suspect we are off the scale of these suggestions, click the link and scroll down to find the detailed break down.
http://hydracapital.ca/hydra-blog.html?fbclid=IwAR2f_pvyGg9ZyeY4gMSDl4aSH3RbxctLxcI-uTBOJquhUEMMdVsxGyvyPLs
I have just read through the RNS again, and I will again later to take it all in, something I didn't spot on initial flirt through it this morning is that the proposed initial flow rate of between 40-50MMcfd is only from the upper zone with the bottom zone isolated!!
A quote;
Analysis of the data supports an initial gross production rate of 40 to 50 MMcf/d with an estimated 1,100 to 1,400 bbls/d of condensate (net production rate of approximately 6,200 to 7,760 boe/d). This initial estimated production rate is based upon the AOFP modeling performed following analysis of the flow and buildup pressure data. Touchstone will design the production and surface facilities to meet these initial production capabilities. These rates reflect the well production from the upper interval (test two), with the lower interval (test one) initially isolated, as per the current well configuration.