Member Info for SpArmada

Charlie is right. $692 million in ARO liabilities and $262 million in abandonment fund receivables, a gap of $430 million to be covered by Jadestone or any potential acquirer ... good luck marketing that!

I was expecting for some details about the costs included in the fee to be paid by the federal government. So far, I have seen none, this I understand that it's the cap and all IOCs have to assume that the days of roses are over. I expected APIKUR to release some update today, everybody here knew it was a big day, but they have been quiet do far. I don't share they joy of some posters, because even if the pipeline is reopened, GKP, Genel and the rest would see half the revenue that have receiving for the local sales . I'd appreciate it if as poster linked a piece of information that supports that there is more revenue than the fixed $16 a barrel for the cost of production and transportation

@surprised just to be clear, the company said it doesn't need additional resources to close the transaction, not the investment required. The information included in the Prospectus is clear and the CAPEX estimations for the next years are several orders of magnitude higher than the levels Seplat has experienced in the past

@surprised: "if one was to take a positive view and the government approves the transition to PIA, these assets will become profitable, generating enough cash flow to justify the acquisition cost and support the bod's view that the deal will be transformative for SEPL."

Isn't it the conclusion of the substack? I agree with that view

A bearish analysis of the deal: https://open.substack.com/pub/zerogcos/p/seplat-energy-and-the-mpnu-deal?utm_source=share&utm_medium=android&r=70r5i

The capex figures are very surprising

The Prospectus says they may need additional financing due to the high CAPEX in the next seven years. There is a lot of capex for facilities and not development.

Sad to see Blakeley go after all these years. He did a great job but didn't manage the Montara situation well.

I'm surprised Roxi isn't here saying he/she is buying even more shares because JSE production is at 25,000 boepd

why would you leave your money sitting on jse? there isn't an catalyst in the coming months, just hope on the company not ******* up again

"holding Russia responsible for contract breaches" How is that even a possibility?

I have been familiar to JSE for some years and the use of vague language, written by Mr. Corbett by the way, has traditionally been a decision to comment on something that is in a much worse position than they want to publicly say. Today they have released an operational update without any details or information; "commissioning issues" can cover many different aspects of the plant that I wonder why they have chosen to be dismissive of such issues. As usual when it comes to JSE, always think of the worse. Why bothering publishing an update without any concrete information? They've just confirmed the previous guidance, which is not great.

The endless excuses for the failures of Blakeley and his team are really tiresome ...

What did you expect with decisions like the one RNSed today?

Another update that shows that the company is operationally inefficient

Bagdag doesn't sign PSCs, it offers "Service Contracts", and SOMO pays a flat rate to IOCs for every barrel of oil produced.

It's not "to recover production and transportation cost", $16/bbl is all the IOCs will get for every barrel produced.

@oilgastourist on Twitter has published some data

Ok, less than 2 years doesn't mean less than 1 year either. I expect this to be in production in less than 2 years, as everybody said this was development-ready, which is not as it requires a FDP with a longer than initially planned deadline. There has been production from some of the fields in the cluster, so the appraised oil and gas volumes are not as interesting as ZENGAS says. From Enquest's RNS, it seems they are more interested in the undeveloped discoveries, so my guess is that they are planning to conduct some appraisal dilling in those prospects before the FDP. The work programme may not include them as mandatory, but I estimate they will if the data supports the presence of untested commercial amounts of oil and gas. Let's see what they get from the Kertang farm-out, but it could finance this development without requiring any placement. I just expected better than this TBH.

2 years to FDP! OMG

The market's muted reactions is a great opportunity to buy before the final approval is announced next week!

Enjoy the video, you are paying for it and not Colin