Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
brilliant news lets get the ball rolling
Tony get the fecking deals done now
my only concern is that the application is in the name of APEC who have without doubt dishonoured their agreement, but the license to drill is in their name not PVR
have PVR just given away 50% and might face a lengthy legal battle to resolve the matter or was TOR clever enough to make sure they are kicked out on not securing the funding
the way this share is acting looks like a takeover is on the cards
what price would be acceptable 2.80 for me
read the arbitration case 350 million
Since 2017 UK-based oil and gas company Rockhopper Exploration has been suing Italy over the state’s refusal to grant it a concession for oil drilling in the Adriatic Sea. The refusal came after the Italian Parliament banned all new oil and gas operations near the country’s coast, amidst concerns regarding the environment, earthquake risks, local fisheries, and tourism as well as strong opposition from local residents. Rockhopper is claiming up to US$350 million in damages – more than seven times the money which it allegedly spent on exploring the project.
Just my opinion, rkh are have the ability to seriously multiply the current investors fortunes
My only concern is that while premier oil are actively looking for another company to become a third JV
Would it not be a better option just to takeover RKH ?
They are seriously cheap just now ?
Without doubt they have a world class oil field
All the engineering completed
Massive future revenue prospects
On top of that a few hundred million due from the Italian government
DNO Vermillion Shell cairn and many more could easily bag a fortune with a low cost bid for RKH
Lets hope this does not happen and we all get to realise the potential and vast returns RKH has to offer
While i understand there is great value to be had with PVR and its such a shame that the so called honourable Chinese have failed in their responsibilities to honour the contract
Should the money have arrived in the bank and the drill been given a start date
where do you believe the share price of PVR would be today
for the amount of time tom has been at the helm i would have expected a farm out by now perhaps no one wishes to deal with Tom anymore
for these reasons he runs this like a large company even though in real terms its a minnow
he want to seen as the decision maker without his authority being questioned
lack of a plan and timetable probably because he might be held accountable and would not like
any way GLA
With the recent massive drop from highs around 80p to 35p then surely tis is now prime takeover target
If PMG say they are at the final stages with the GPA tieback to the Scott platform, why don’t the Chinese just buy PMG
Offer 45p and they have won a watch
the news on the Platypus project is already out on the Dana website
https://www.dana-petroleum.com/who-we-are/media-resources/public-notices/
Ranger great observation
is the whole of Ireland going to buy all electric cars if so why are 90% of cars produced today either petrol or diesel
Oil will be in demand for the next century and beyond
Oil news - plans for next Sea Lion Phase
By Peter Young
PREMIER OIL held a briefing in the Narrows Bar last Thursday to announce the plans for consultation on the Sea Lion Environmental Impact Assessment (EIA).
Representing Premier Oil, Country Manager Tim Martin introduced his team and briefed the audience on the plans for the next phase of the Sea Lion Project.
As part of the preparation for exploiting the field, Premier is required to submit an EIA to Falkland Islands Government (FIG) and seek Executive Council (Exco) approval to proceed.
The team will shortly be consulting numerous stakeholders, including bodies such as Falklands Conservation, as well as the general public in forums such as this one. It is expected that the assessment will be submitted towards the end of this calendar year.
Dr Paul Brickle and others from SAERI (South Atlantic Environmental Research Institute), will be consulting for Premier to prepare the EIA. Also engaged as a consultant on local ecology is Grant Munro.
Mr Martin said Premier was having another consultation as there had been significant changes to the project and the oil industry since the previous consultation in 2014, not least the halving of the price of crude oil. This had caused a re-examination of the economics of the whole Sea Lion project.
There would now be a phased implementation which will include:-
• 20 wells, rather than 33, are now planned;
• the productive life of the field is now reckoned to be 20, rather than 25, years;
• a Floating Production, Storage and Offloading vessel (FPSO) would be used, rather than a Tension Leg Platform (TLP); and
• the transfer of oil is now planned to be carried out in the more sheltered waters of Berkeley Sound.
Mr Martin emphasised that Premier Oil would adhere to the highest possible standards concerning Health, Safety and Environmental impact, often exceeding in-country requirements in these areas.
The choice of Berkeley Sound was made after extensive consultation with the Government and after considering over 30 possible sites around the Falklands. A detailed operational and environmental assessment showed that Berkeley Sound was the most appropriate location mainly because of ease of navigation and proximity to Stanley.
Marine Advisor George Franklin gave the audience a detailed, step-by-step, description of the process of transferring the oil from a shuttle tanker to a purchaser’s tanker. This transfer will take between 24 and 48 hours and will only take place if the weather and sea conditions are within operational limits. An inshore transfer operation will take place about every 13 days, for the first few years of production and then about every 46 days for about 10 years of production. The tanker shuttling between the Sea Lion FPSO and Berkeley Sound is classed as a ‘Suezmax’, with a capacity of 1,000,000 barrels of oil, roughly double the capacity of the FPSO.
It is planned to have qualified pilots guiding b
they are not having a tie back to the Tolmount the decision has been made to tieback to the cleeton platform see below
Project Summary
The Platypus field is located in the Southern North Sea gas basin in Blocks 47/5b and 48/1a, 18 km (11.2 mi) north-northwest of the West Sole gas field and 15 km (9.3 mi) west-southwest of the Babbage field. As a result of the successful appraisal well in August 2012 the field is being progressed towards development subject to an economically acceptable transportation offtake route being secured. The Concept has been approved for a tie-back to Cleeton Platform with onwards export to Dimlington. Tenders for Subsea Pipeline & Facilities EPCI, Umbilical Supply and Controls Supply are planned to be issued late Sept/early October 2019. Sanction expected in Q2 2020 and First Gas in Q4 2021.
o forgot to mention the PIs contributed ant 21 million
In May 2015, Parkmead completed a successful placing raising US$21.1 million to accelerate opportunities.
In July 2015, Parkmead was awarded three new licences in the UKCS 28th Licensing Round. The three new licences comprise interest in three offshore blocks located in the Southern North Sea and West of Shetland vicinity.
where is the so called acceleration ?
Neil
I expect more from the CEO of a company this size to share the outline and plans going forward with timelines which acts a a measuring stick.
I agree that this company has the ability to make those invested in it massive rewards without doubt and as i am already working in the oil and gas industry i understand that decisions take time and money, so firstly with the decisions being imminent for GPA and Platypus i would suspect they they will require financing.
Will Tom just think of another method to increase his holding while diluting the average shareholder, after all he appears to run this company as if it is his own private venture.
if there were no PIs then where would the investment come from in the first place ?
Pis want a return on their investment i have some mates in Aberdeen who have pulled out of here and lost a fortune, i have to say i too am losing both money and faith on this company
what ever happened to the money raised for drilling this
Parkmead owns a 30.5 per cent. stake in the Skerryvore area. The survey will provide detailed technical information on the Skerryvore site ahead of the prospect being drilled in 2015. The Skerryvore prospect has the potential to contain up to 122 million barrels of recoverable oil on a most likely, P50 basis.
Tom Cross, Executive Chairman, commented: “Exploratory work is already underway at the exciting Skerryvore oil target. Skerryvore has the potential to add major value to Parkmead’s growing asset base.”
40 million was raised of course the PIs didnt have to participate did they
Can you tell me that Tom still has his eye on the ball ?