Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
Looking positive with u turn from Norwegian gov on providing state aid - conditional on Norwegian returning to a short haul Scandinavian business. Also extension of protection to finalise business plan. No details yet on rights issue as far as I'm aware. Not even certain there will be one at this stage.
cd66beta
Indeed, although his other mantra is don't lose money. Together that's precisely why I sold up and took profit this morning and bought Petrofac instead.
Fingers crossed you good folks with more faith than me
22nd January 2021
This announcement contains inside information
88 Energy Limited
Operations Update
88 Energy Limited ("88 Energy" or the "Company", ASX:88E, AIM:88E) provides the following update related to its operations in the NPR-A region of the North Slope of Alaska.
88 Energy is currently seeking clarification on a recently announced 60 day suspension of authority for Department Bureaus and Offices in relation to the issuance of new drilling permits on Federal land, amongst other things, by the US Department of the Interior. Of note, the authority for approvals has not been completely withdrawn but has been delegated to various higher positions within the government. The signed order can be found here:
https://www.doi.gov/sites/doi.gov/files/elips/documents/so-3395-signed.pdf
88 Energy submitted its permit to drill application on the 12th January 2021 with approval expected within the standard 30 day timeframe i.e. on 12th February 2021.
88 Energy is in close communication with the Bureau of Land Management ("BLM") as they determine how the 60 day suspension will be interpreted and implemented. The BLM has indicated that it will continue to process the permit to drill in anticipation of receiving a signature on or before 12th February. There is cause for optimism due to the advanced nature of the existing operations (which is one of the carve outs for the suspension).
Immediate steps were taken to minimise expenditure until the situation becomes more clear.
Managing Director, Dave Wall, commented: "At this time it is uncertain whether this will have an impact on operations. We anticipate being able to get clarity on the situation within the next week.
We have a strong case to be granted the permit given the many permits that have already been granted as well as our considerable, and ongoing, operations in the field."
The Company's securities have been placed in a trading halt on ASX pending clarification of the above.
Media and Investor Relations:
88 Energy Ltd
Dave Wall, Managing Director Tel: +61 8 9485 0990
Email: admin@88energy.com
Sorry to be pessimistic, but just a word of caution on wishful thinking and personal finances. Have been watching Velocys for some time now and live close to proposed Immingham site, although I've yet to see the diggers moved in. The prospect of BA / IAG bankrolling this project seems remote IMO, given current difficulties. Hope that I'm wrong but without government funding this project seems dead in the water. Be careful and only invest what you can afford to lose.
Took a small slice in the last minute of trade at 63p to de-risk / balance portfolio. Still have big hopes for my remaining stake in Bacanora though. Also agree with JohnyCL regarding Ganfeng. Certainly injects confidence - should be a winning team.
Happy New Year to all
I understand that Asia Research & Capital Management Ltd hold the biggest short position and agreed to the merger on the basis of equity. That's more complex given PMO's history with the fund. But what about the other two totalling over 5%. Does the same apply? How can a fund sell shares they don't own but get a stake in the company in return under a merger ? It makes by brain hurt.
P.S. Happy New Year SK too
Hi - wondering if anyone can talk me through the answer to this question?
Given that Premier Oil is currently the most shorted UK stock across the entire market with 11.6% shares short, what happens with the proposed merger? Do short sellers have to close their positions before the shareholder vote on 12th Jan.
If yes, which only seems right, then I'm presuming we would be in a short squeeze situation with a massive spike in share price. Is that probable?
If no, and the merger is approved, then when happens? Can they remain short on Harbour Energy and how would that work in terms of dilution of short positions in the new company?
Darien Taylor - Velocys is different ballgame. They have just £8mil in cash and the proposed development would cost hundreds of millions. It's all just on paper so far. I'll show some interest when and if diggers actually move onto site.
https://www.imeche.org/news/news-article/feature-household-rubbish-is-jet-fuel-of-the-near-future
Only touches on Hurricane briefly, but interesting context nonetheless:
https://www.energyvoice.com/oilandgas/north-sea/exploration-production/280858/west-of-shetland-oil/
Sold Marstons and doubled up on Bacanora at 45. Hoping my homework including translation of Mexican reports pays off.