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BarleyBaron 20 Jul 2017

Re: Could be this Evening PD. Contractor central been busy digging I see. Might be a good time to do a bit of research on O&G service providers. Was it the weir group that had good results recently. Taken my eyes right off that sector. Anything out there that excites anybody, that I can go to work on.?Sounds like you got back into your preferred line of work. Good lad if you did. I don't know what the Americans are up to. Its not logical, trying to sell your assets (oil and gas) as quickly as you can at low prices. I'm presuming a short timescale on shale. Mind you? A big ouch if credit lines are cut and its going to be more difficult to now catch Mozambique. There's a lot of money involved in Tanzania but boy is it needing that money to flow through the country. I really hope they don't scare anybody away, its a wonderful place. Schlo. Another reason I still like Ophir is its forward momentum, it seems to want a hand in all the pies. Okay, not all parts are firing together but give it time. Things are happening, more slowly than promised mind you. One of my old muckers was Shanta Gold. I read they are reviewing their presence in Tanzania in light of the new financial laws. Cant see It happening but its a worry.Baron.

scholomo 20 Jul 2017

Re: Could be this Thank you very much Baron for your very informative replyVery much appreciated

PDMSlad 20 Jul 2017

Re: Could be this Morning BB, update from contractor central.Technip in Paris are working on the ENI Coral FLNG project for Mozambique, they have also won two other projects I'm told.I've also heard there could be up to 10 trains for LNG onshore Mozambique, first phase is 2.Word from Norway is that the west coast, mainly Stavanger and Bergen, will be getting busy.Perhaps the worst is over, maybe shale in the US is about to have its credit lines cut to boot, they have a massive debt problem looking.

BarleyBaron 19 Jul 2017

Re: Could be this Sorry Scholomo. Harvest preparations always come first before the chin wag. I've been an avid fan of Africa and it's ways for over 25 years and absolutely nothing surprises me anymore about how it goes about its business. The new laws in motion can be seen by me in two ways. Protect your countries long term wealth from big oil etc . They are in the process of doing that. Not chasing anybody out just saying 'don't step on my toes', in the nicest possible way of course. Sort of like Executive Order 13603. Unlikely to happen but its a step 1 in the process. Great assets and they are not about to give them away cheap.Good move but the second point concerns me slightly and I will choose my words with care.....interpretation of those new laws. Will it put the kibosh on any new investment or exploration until a clearer picture develops on where Tanzania wants to go. It wont be rushed but it has to be careful its not deterring any new clients. I think its all going to be hunky dory but I always look at the worst case scenario first so that's one of many ways to look at it. 69p. We don't have all our eggs in Africa, a decent portfolio of drillable acreage, cost cutting moves, a decent income??, future income, future sales. Depressed market, possible crisis, low prices and on it goes. Something feels like it wants to pop. 69p..... Yup, but in dribs and drabs.There's more but the hand say 'no more'. And the rest of you. Baron.

scholomo 17 Jul 2017

Re: Could be this Thanks Baron.Look forward to your further comments

BarleyBaron 17 Jul 2017

Re: Could be this Sorry Scholomo. Only just read your post. Yes optimistic but its going to take time. I'll tell you my opinions in my next post and they have changed in the last 8 days. And it concerns Tanzania and those new laws recently/about to be passed. Glad we opened our wings. $50 for the next five years. PD's spot on when he talks about a credit squeeze, watch a more cautious lending approach appear from the lenders themselves. Would you pump lots of money into the oil and gas sector when times are tight. $50 for the next year, yes. After that its any bodies guess and they are just (as we would say up here) 'talking s***e' if they know what it is going to be in five years. 'In the region of'..... Come on. Schlo... at these levels I will be adding in dribs and drabs.Baron.

CharlieHarper 14 Jul 2017

Re: Could be this Gas futures looking rosy...a good time to come on line.[link] of luck

PDMSlad 14 Jul 2017

Re: Could be this $50 in 5 years, who knows, it's just so volatile.If the dollar weakens that will have an impact.If interest rates go up, and they are in the USA, it will likely affect US Shales ability to repay it's debt and snuff out some of the supply.Ageing fields are depleting faster that anytime in the last 25 years and lack of exploration and new field development will also have an impact.The middle east might kick off at any time.In short I'd predict something nearer $70.One thing is sure, the analysts change their tunes a lot lately.

scholomo 14 Jul 2017

Re: Could be this Hi BaronYou still seem optimistic regarding the future of Ophir Does it no bother yout that one of the big boys forecast oil would stay in the region of $50 for the next five years.? Would really appreciate your views on this

PDMSlad 14 Jul 2017

Re: Could be this Morning CH, yes we should know better by now.Hopefully both of the stumbling blocks will be overcome soon and we will see that bounce."Final terms have now been agreed with a shortlist of off-takers and the project stakeholders are currently evaluating which of these offers to accept. These offers comprise Brent linked contracts. Principle commercial terms have been agreed with a consortium of three China-based banks for the debt facility and documentation is being completed."Good old BB, indomitable. the way coo sounds the same in Norwegian, thank the Vikings for that!

CharlieHarper 14 Jul 2017

Re: Could be this BBGlad it went well BB you'll be back wrestling coo's in no time.PDmarkets reacting to the lack of FID movement and poor update...and here's me expecting a nice bounce on some good news for a change...should know by now.Lets hope signing the FID is a formality..."The FLNG project has two milestones outstanding prior to the final decision: the awarding of the offtake agreements and the closing of the project debt facility."[link] of luck

PDMSlad 14 Jul 2017

Re: Malcy Imagine what $70 oil would do for our balance sheet.Ageing field depletion rates are accelerating and with a lack of exploration and new field development there's a crunch coming.If we can just hang on and get Fortuna producing the world will look a lot different

PDMSlad 14 Jul 2017

Re: Could be this Original Fortuna start up was 2019, been pushed back another year to 2020.If shale is choked off in the USA due to reduced credit lines then yes I think we are cheap but it rumbles on.What happened to common sense, anyone seen it lately, it seems it went missing about 20 years ago.

PDMSlad 14 Jul 2017

Re: Malcy Yes it hasn't been a great year forwardloop.It still bamboozles me why Wall St fund a lot of shale when the economics of it are so poor, most are never cash flow positive.The sooner interest rates rise and their credit lines dry up the better.3 years and counting, the longest slump I have seen in oil and gas.I managed to work my way through the previous 3, but this has been a real challenge, and for the first time I have had periods out of work.Some of my mates have been out for 2 years +!The Salamander takeover now appears overpriced given the ongoing problems in the industry.

BarleyBaron 13 Jul 2017

Re: Could be this CH. An inch shorter and a few grams lighter but I can still flick the bird. PD. Thank whoever that we have spread our wings and not solely in Tanz. Is that a people putter offer those two new laws that were signed. Those are hefty new laws. Just when you think your just about getting there a head pops round the corner and says GIDDA MATE.Boy is it expensive stuff that we use to heat our homes when you think of the amount of money it costs getting it to peoples homes. These starting to look cheap??Baron.

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