RE: "ES:Investors:BILLIONS of boe.."21 Jul 2018 13:59
Gunny, RE: "ES:Investors:BILLIONS of boe.."
Most oil and gas developments have more than one investing oil company. One of whom becomes he operator, whereas the others protect their investment and stump up their share of the capital and operating expenditure. This is a way of limiting exposure to any risk. To get a seat at this table the financial standing of the prospective investing partner would be scruntised closely as this will form a long term relationship and the OGA would also be watching closely. BB is 100% UKOG so easy to sell off, other assets more complex to sort out. Eventual sell off to a cash rich oil company (which would be favoured by the authorities) could be made simpler if UKOG bought out the smaller partners. Although other partners could also be an ally for PIs to keep the UKOG board honest to get the best price. This is not going to be simple but there are lot of clever people to sort this out. My wish (as for everyone else invested) is that we get a deal that puts a very large smile on our faces. All SS activities look like they are stacking up nicely for next 18 to 24 months. Pity BB drilling was screwed up, we could've been in a very different place today.