George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
Looks like the day traders have won the day again.
Rise on bed n ISA ?
OR
If the recent rise was down to any good news on meetings and near term has retrenched following conformations that the Kurdish PL has confirmed competition from the repairs to the Kirkuk-Ceyhan PL
It looks like it will be down to the US to assist the Kurds in getting theirs opened now.
I must admit I did not think ( totally missed) the Kirkuk-Ceyhan as the under cut. Turkey / Iraq with out US help have the Kurds over a barrel (forgive the pun).
Rgds Sft
Question for clarity and HELP?
Presently I see there are only 2 pipelines present from Iraq
1 is the "Kirkuk–Ceyhan Oil Pipeline, also known as the Iraq–Turkey Crude Oil Pipeline"
This is the pipeline that carrys the disputed Kurdish /Turkey payments...correct?
https://en.m.wikipedia.org/wiki/Kirkuk%E2%80%93Ceyhan_Oil_Pipeline
2 is the pipeline Kirkuk–Baniyas pipeline that has been shut down since 2003 and runs into Syria
https://en.m.wikipedia.org/wiki/Kirkuk%E2%80%93Baniyas_pipeline
Is there another pipeline that Iraq is reportedly repairing that avoids Kurdistan supply's? I only see the Kirkuk–Ceyhan Oil Pipeline and Turkey have stated they have made their repairs and its ready to restart ONCE the disputes are resolved.
Note i have found that there has been other pipelines talked about that could go into Jordan and Saudi but they have not been built correct?
Clarity from more informed posters would be greatly appreciated.
Rgds Sft
Looking at Simpley Wall Street latest report, I think the long term assement is starting to look very favourable...
Ref drilling update:
https://youtu.be/1cwCIkKFFR4?feature=shared
Rgds Sft
Hi WT, it seems to have settled, are you thinking a labour victory would be the catalyst to push it down further I.e. with implications of deeper taxation.
I can not see anything else other than lowering of gas prices? Or do you see any other weakness that I am missing?
The company has cash, generative production and potential for growth in future. True why has it not picked up, what are we not seeing. Again it is now morning onto a different less "clean" company, possibly not as future sell able as Rock Rose I.e. no buyers for the non green mish mash?
Rgds Sft
Rgds Sft
IMO a lot hinges on confirming the completion of the upgrade of the Joutun FPSO, which was reported 90% complete and that first oil is now anticipated to be the end of Q4 2024.
More info: https://www.investegate.co.uk/announcement/rns/kistos-holdings--kist/balder-field-operational-update/8034320
WFT has been crippling to the gas only strategy, the TotalEnergies Benairch duster and the shift to oil (destroyed the green ish policy) have all been very detrimental to AA old stratagem and possible undermined some of his ii investors??
Still AA is still trying with the purchase of the storage facility, but is kistos going to be as sellable as Rock Rose was?
Challenge for AA and the team for sure but what a sp drop!! It does look a reasonable risk presently, it just may take some time mabe Q2/Q3 2024 for a lift in anticipation of Balder production unless AA can find another rabbit from the hat?
GLA
Rgds Sft
Also, although having recognised the turn against the AKP, Erdogan has reiterated his commitment to regaining fiscal improvement in his statement but included in his main foreign policy statement is to deny the Kurds in gaining an independence foot hold in Syria. So it still demonstrates a dependence on the Iraqi Kurds supporting such and that is a clear indicator on what will be the conditions layer down in the pipeline negotiations. The Iraqi Kurds reaming between a rock and a hard place.
How much influence the US have (or want to have) in the region and their support for the Iraq Kurds remain to be seen.
As before, are Turkey and the Iraq goverment feeling free to squeeze freely and how do the kurds keep unity against such.
I am not so sure on how they could go it alone once the "contract" expires. Difficult senario for them.
All imo limited opinion.
Rgds Sft
Uncertainty in Turkey, none the less Erdogan is around for a while yet (2028) and the country needs income revenue that an OPEN and flowing pipeline desperately add to.
https://foreignpolicy.com/2024/03/13/turkey-erdogan-elections-istanbul-ankara-local-akp/
Rgds Sft
With this link to the drilling company Star Vally drilling
https://starvalleydrilling.ca/morocco/
Rgds Sft
Not sure if this has been posted previously:
Cosworld Energy Limited
The company said it had signed a rig deal with Star Valley Drilling, for the 101 rig, on its onshore Loukos licence. Chariot expects to begin its first two-well campaign around the end of the first quarter this year, it said.
https://twitter.com/cosworldenergy/status/1754837865580646419
Link to company: https://www.cosworldenergyconsult.com/
That's all I can find
Rgds Sft
The increase in LNG should possibly not be read in isolation, especially if you expand the reading and logic.
"US gas producers shrug off low prices, bet on LNG boom..."
https://www.reuters.com/business/energy/ceraweek-us-gas-producers-shrug-off-low-prices-bet-lng-boom-2024-03-22/
Always DYOR
Rgds Sft
Interesting article: for a new era in LNG supply, what will all this building have on long term pricing?
https://www.offshore-energy.biz/south-korean-shipbuilder-wins-1-8-billion-contract-for-8-lng-vessels/?utm_source=offshoreenergytoday&utm_medium=email&utm_campaign=newsletter_2024-03-27
Rgds Sft
I still belive its all down to investor trust on management, finance, coupled with risk.
It leaves us speculators.
Still find it very very interesting regarding our last two 6% ers, maybe as whimax (I think) proposed that covelis may have exited their 3% of 6% but that must have been removed by now so if there is no TR1 on a reduction that must only leave private investors OR not declaring a change in ownership, the risk of a fine for such could be minimal. I do not know how strictly this requirement is monitored or enforced? By the financial services authorities?
Not that it really affects the very potential positive of a successful onshore drilling campaign, but really clarity is required by the management of liquidity. That imo would as ever help.
GLA
Rgds Sft
"i hope chariot can proceed with development on their own without loan and without partner"
You ask a good and relevant question there Suresh, I wonder who can confirm, speculate or guess for us?
We have some experinced oil men on here maybe BDC, IICB, Bold or Jimmy could "confirm"?
Latest speculation / guess was secure a loan against assets, I think?
Rgds Sft
Hi SenatorM, thank you for the reply, appreciated.
It is aligned ( more informative though) than my thinking. What I am thinking about is forces trying to drive division amongst the Kurds...I.e every one is together if your fighting a common enemy like DAESH. Is it all aimed pipeline and meetings to divide and reduce their strength? But the one artical from Kurdestan24 did state that Erdogan was also going to visit Kurdestan? Artical was a few weeks old, but that sets a very different tone and importantly is inclusive rather than just speaking with the Iraqs (and the kurds) in Baghdad (imo), although could be a tricky trip for his security?
https://www.kurdistan24.net/en/story/34128-Erdogan-to-visit-Iraq-after-Turkish-local-elections
Again thank you for thoughts.
It's all very tricky, especially for a Brit to understand the mindsets of all parties.
But I remain in the camp that we should see a restart of the pipeline within 3month OR its then looking like the Iraqs want to keep it shut for political / deni-finance reasons (imo).
GLA Sft
Good Artical, thank you.
I have done a search and a selective read on the diplomatic talks in preparation for President Erdogan visit in April the focus seem to be headlined as security (in relation to KPP) and then Energy as most written about, note also 1x artical states pipeline not physically ready to resume ops on the Iraqi side?
What does the bb poster here think on how much the removal (or limitations)of the PKK will play and how could that be implemented I.e. what could Iraq do or what could the governing Kurdish goverment do or be willing to do???
Rgds Sft
Example of articals below:
Artical 1 focuses on security and removal of PKK
https://apnews.com/article/turkey-iraq-foreign-minister-visit-pkk-177d80a962e8861f448fb5d4f0d12df3
Artical 2 (Kurdish) will include the resumption of oil exports through the Turkish port, as well as security, water, and diplomatic relations between Baghdad and Erbil.
https://www.kurdistan24.net/en/story/34128-Erdogan-to-visit-Iraq-after-Turkish-local-elections
Artical 3 (Retuers)
Senior officials from Turkey and Iraq will meet in Baghdad on Thursday to discuss energy cooperation, as well as security and defence matters, the Turkish Foreign Ministry said on Wednesday.
https://www.reuters.com/world/middle-east/turkey-discuss-common-understanding-security-with-iraq-official-2024-03-14/