Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
The FCA have 2 hats. They police and enforce regulation. They also guarantee each investor up to £85,000 should a bank go bust without enough assets to cover all investments. You would assume any financial penalty would be counter- productive if it was the straw that broke the camels back and the FCA had to then use millions of tax-payers money to reimburse investors, not to mention the political implications of job losses. Also, another political point. A few days ago Jacob Rees Mogg as leader of the commons answered a question about Odey making millions from currency fluctuations (because of brexit?). His reply included stating Crispin Odey was a very good friend of his. Would look bad for government if Metro went bust as a result of aggressive shorting that stopped them naturally recovering from an error of their own making. My opinions of course.
Duckies, funny you should say that. Listening to the interview they emphasised having to place the well there for senior lenders and also gave the impression they knew they were 200m away from channel boundary. MY OPINION OF COURSE.
From RNS 17th April
"Subject to contract, Block has now negotiated terms on additional storage facilities, and is also negotiating new oil sales contracts with local and international purchasers, which are showing strong interest in supporting Block's future development plans."
Please show me RNS stating contracts in place?
Rightly or wrongly, I have sold out at a big loss. Once trust has gone you don't know what is coming next. Clumpet is right about the drilling fluids. What about flaring? PH said in an interview, not RNS they have a 2 month permit. What happens after 2 months? What about gas tie-ins, bagu not mentioned? Their 2 year plan, not 1 year plan mentions commercial gas but again nothing via RNS. Again PH said in an interview, not RNS there was another party interested re gas. We can only go on what we are told via RNS. We have never been formally told anything recently about plans regarding flaring. There was nothing to suggest flow would be below 700 bopd. In fact higher, as the well was unstable on smallest choke. What has been going on? Note also absolutely nothing about oil sales, only storage. There own tanks would be enough for this flow rate if they were selling the stuff, obviously aren't, hence the need for massive storage.
Morning, contract is yearly hire for a fixed price. GOG have a drill planned Sept. 2020, hence the start date has to be before this.
30th Sept. is the latest BLOE can start to avail of rig for a year. Will most likely be before this.
Last 2 BLOE twitter posts are from FT and why price of oil will not go up. Is gas going to become a priority over 2nd oil well. Also, tweet posted from 12th june "Georgian Oil and Gas Corporation is building a new gas distribution station in Rustavi.
The station will be built by the Italian company “Forain Srl“ winning the tender. The new station will ensure uninterrupted and secure supply of natural gas to Rustavi residents and major consumers of the city. Commissioning the new gas distribution station will significantly improve gas distribution, filtration and reduction issues. The construction of a new gas distribution station started in spring 2019 and is planned to be completed at the end of the year"
My opinion, of course.
Thanks, https://www.google.com/search?q=btk+railway&client=safari&rls=en&source=lnms&tbm=isch&sa=X&ved=0ahUKEwiHrtP-zKXiAhUzTxUIHcvyDY4Q_AUIDygC&biw=1440&bih=837#imgrc=JDnsbjyzTA-56M:
th is ling shows rail line beside pipeline. Surely it would make more sense to tie into pipeline which goes all the way to the refinery in turkey. What would happen to oil once it gets to Kars?
Expand production facilities to increase capacity to 4,000-5,000 bbl/d – US$2.0m (page 14 presentation)
As the 2 refineries in Georgia have a capacity of 2500 barrels / day the only way to flow this amount is to tie into the BP pipeline, coming from the Caspian Sea. I hope that this is the plan, hence why well 38 is planned for Q4 to allow time for the tie-in and why the cost is set. at $2m.
Have I got this right; 760 bopd (700+60) with 100 needed to cover overheads and 2 months to pay well drill costs.
Therefore, from say June for 16a only, at $70/barrel, free cash flow is 660*70*365=$18.6m or £14m per year for 700 bopd and 1060*70*365=$27m or £20.5 per year for 1100 bopd.