Member Info for SpArmada

Shell doesn't trust Steve and has demanded conditions that I haven't seen before, that says it all. This company isn't professionally managed. Steve is a technical guy, not a CEO. They need to get some new executive team if they want to give this company a future.

Go through the accounts and you'll see for yourself. How many raises have they completed since the IPO? It's a 3 guys company

They have to pay back to Shell and they have burnt money like teenagers

And it will be gone soon

Does anyone know where I can find the conditions to calculate the net entitlement in Egypt? Thanks

The sidetrack to the 36-2 is going to be the most studied and prepared well ever, they have been working on it for months and CH cannot yet give a proper schedule. A summary of Zephyr: Run by amateurs, at the mercy of the insurance company and, soon, a painful financing.

A RTO has to be approved by the shareholders

If JSE is selected as preferred bidder, then the whole process will take more than a couple of quarters. The acquisition would be officially closed after Akatara's first gas, which will increase the current RBL. Additionally, Jadestone can also negotiate with the banks and include the 2 new assets into the RBL, increasing it even more. The key here is to know the terms (if JSE is successful), which will confirm that the return is well above the cost of the capital (10-12% rate) required for funding the transaction.

I'm pessimistic about JSE's buying these assets, but I'll gladly accept I'm wrong, if JSE proves it.

Charlie, if this goes through, there are 2 different assets involved: Pyrenees (oil) and Macedon (natural gas). So no asset will be responsible for 60% of the group's production. Besides, Akatara's natural gas hasn't still reached first gas, and it will help in diversifying production even more.

I always said this company needs better leadership, it has been a terrible display of amateurism so far.

Be careful, little boy, your tears will damage the keyboard

You can get nitrogen from air, no need to truck it from the middle of Africa

A Junior without development plans will sell it any discovery for peanuts, the CAPEX is huge and they have to derisk it somehow

Is there an explaination of how they plan to process the gas? The separation of Ar, He, H and N requires cryogenic temperatures and I wonder how they will build such facility in the middle of nowhere in Africa

Some retails panicking because of the lower reported production of GLA in December, without considering the temporary halt of the Shetland gas plant

AA is not CEO, but Chairman, totally different roles

In any case, it would be the other way around

9 blocks, covering ~2,000 sq km, it is huge, but the area seems that hasn't been explored in the past

They have mentioned the PM428 licence and how it perfectly fits with the Puteri licence included in the MBR+ It is a pity that they didn't mentioned whether they plan to participar in the MBR 2024 or not, as OG tourist proposed in his research.

Trading update tomorrow with more details. I hope the include in it at least one positive surprise to lift the spirit