Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
GALP is just being very cautious in what they say. GALP, again, doesn’t have knowledge, expertise, experience or resources to develop a field in this deep water.. they needed kosmos, then Shell for design engineering.. galp will be cautious and not upset Shell going forward.. galp has personnel on drillship observing/monitoring so they know what is going on..
Jmho
Nd9
Ron, so far, I have not been able to find anything on Matthew Boutte working at WAMU. I did find where he worked at Sterling Bank and then I remembered that Sterling Bank sued JPMorgan Chase and Washington Mutual Bank. See below.
ND9
************************
Sterling Bank & Trust, FSB v. JP Morgan Chase Bank, N.A. et al
Plaintiff: Sterling Bank & Trust, FSB
Defendant: JP Morgan Chase Bank, N.A., Washington Mutual Bank, FA, Washington Mutual Bank, FSB and Washington Mutual Bank
Case Number: 2:2010cv14486
Filed: November 10, 2010
Court: US District Court for the Eastern District of Michigan
https://dockets.justia.com/docket/michigan/miedce/2:2010cv14486/253644
Ron, Matthew Boutte lives North of San Antonio and is President and CEO of Paladin Acquisitions. Did I get answer right?
DN9
GALP's African director says oil's STP economic impact will be visible in 5-6 yrs.
Lots of variables and different quotes from different sources. First GALP article says GALP is getting out of exploration business... Then this GALP director implies GALP will be working in STP Block 6 for 5-6 years.. So not sure what to believe. Only time will tell.
ND9
****************
Galp director says oil's economic impact will be visible six years after first bore
April 11, 2022
By Manuel Dênde, Journalist for STP-Press Agency
São Tomé (São Tomé e Príncipe), 11 Apr. 2022 (STP-Press) – The economic impact of oil will only be visible in São Tomé and Príncipe six years after the first hole, – revealed to the national press, galp's Africa director Roland Magli, after an audience he held days ago in Lisbon (Portugal) with the Sao Tome President, Carlos Vila Nova.
"After the first hole is made," Magli said, "if you find the oil, you're going to have to know the amount."
After that, he said that "we will get involved in the acquisition of equipment and other expedients, which is why I admit five to six years."
GALP (Portugal) and Shell (British multinational), partners in block six, rescheduled for next May the opening of the first hole in the said block of the Exclusive Economic Zone (ZEE) of São Tomé Príncipe called Jaca.
Jaca, which was supposed to be the subject of a first hole this April, saw this action postponed following the technical developments that emerged in Namibia where the probe ship that was supposed to operate in São Tomé is currently located.
"It will be the first attempt to discover oil in the EZE of Sao Tome and Principe. It will be the first time that geoscientists will have the data provided by the well", explained last December a board of galp company, Vanessa Gasparinho.
According to the National Petroleum Agency (ANP), this action is expected to take two to three months.
It is refoundthat in the EZE of São Tomé and Príncipe with a dimension of 160,000 km2, the two-dimensional seismic tests carried out between 2009 and 2010, allowed the identification of a total of 19 oil blocks.
In the map of the oil blocks of the EESi of São Tomé and Príncipe, drawn up in 2010, block 6 that gives body to the Jaca project is part of the group of blocks located near the territorial waters of Equatorial Guinea and Nigeria.
It is stressed that the maritime areas mentioned already have a tradition in the exploitation of black gold.
Project's corporate structure is owned by the São Tome state with 10%, while Shell and Galp each have 45% rights over Jaca.
MD/LM
STP-Press/End
https://www.stp-press.st/2022/04/11/director-da-galp-diz-que-impacto-economico-do-petroleo-sera-visivel-seis-anos-depois-do-primeiro-furo-%ef%bf%bc/
Galp Energia Abandoning New Oil and Gas Prospections in 2022
*************************************************************
It is going to be interesting to see what GALP does, after results from STP EEZ Block 6 are announced.
ND9
************************************************************
Galp Energia Abandoning New Oil and Gas Prospections in 2022
04/11/2021
“It’s a big step for Galp Energia to say that we’re not going to do any more drilling in undiscovered fields. We’re not going to have any new licenses. Until the end of the year we will still drill two new wells, one in São Tomé and another in Brazil. They will be the last ones in new areas. All the others will be in territory where we already operate,” announced Galp Energia CEO Andy Brown to journalists attending a meeting with CEOs from several companies, such as Vítor Bento from CTT, Pinto Magalhães from Central de Cervejas, and João de Mello from Bondalti.
https://360mozambique.com/oil-gas/oil/galp-energia-abandoning-new-oil-and-gas-prospections-in-2022/
Opus, I think Shell hit their initial reservoir target depth long ago, found oil, and is now "sidetracking." Basically, exploring the area in different directions to either look for additional oil and or figure out how much oil they have found. I think the 90 days and additional supply ships are all good news. I think much was learned with the Maersk Voyager drilling offshore Namibia and Shell is applying those lessons to STP EEZ Block 6.
Look at chart 27 of 41 and see what Kosmos thought:
http://www.kosmosenergy.com/InvestorPresentationLSEMeetingsAugust2017vFINAL.pdf
If GALP/Shell make an announcement, that they found commercial quantities of oil in STP EEZ Block 6, which Kosmos expected, and thus, de-risking the STP EEZ, it will be interesting to see what happens to ERHE share price? How much will it go up?
It's going to get interesting.
JMHO
ND9
Krombacher, you could be correct, but honestly, I don't think so...
As you well know, this is a new frontier and the first well for STP-EEZ. Shell is going to need to study the drill results (testing, core, sidetrack, etc) in their onshore laboratories.. They are going to want to compare the drilling with the seismic analyses they did before hand..
Shell will also need to discuss results with GALP, the STP Govt, and others like Total and possibly Qatar... Shell will want to put together a bigger, more comprehensive plan on how to approach the STP EEZ (& possibly JDZ) with Total, maybe Qatar, etc. Shell will probably want to talk to Kosmos about EEZ block 5 and ERHC about block 4. Shell will also need Govt approvals, permitting, environmental plans, Shell mgmt authorization and resources ($, hardware, people, schedules), and an engineering plan for extracting oil from this deep water, etc, etc, etc,. Shell wasn't even sure they would find something and so I can't believe can could even go into "beginning" production operations. Just not possible. Any future operations are going to take time to plan.. Shell might even want to have more seismic studies performed...
Of course, the good news is that Shell is de-risking the STP EEZ and now Kosmos Block 5 and ERHC's Block 4 are worth even more...... and possibly ERHC's share of the JDZ.
No point in debating further. We disagree but time will tell. Hey, if you're right, I'll be happy so no issue. At this point, all is looking good.
JMHO
ND9
Phase 1 concur. Phase 2 concur (sidetrack started long ago).
Phase 3 production? No way. Impossible.
Jmho
Nd9
kingpindg, nice work and thanks, p27 of 41 shows STP "oil seeps."
ND9
nwtf, Kosmos Energy wasn't/isn't in JDZ so your comment isn't true.
ND9
I have the presentation and pictures... if I could just figure out how to post them, LOL.
Back in 2017, Kosmos showed STP EEZ "oil seep samples" pictures. It was an investors presentation and Kosmos showed pictures, of containers, filled with oil, from the STP EEZ "oil seeps."
Kosmos also showed a presentation chart of their Equitorial Guinea fields and how they are linked to STP EEZ and these oil seeps.
I don't remember how much oil they projected for STP EEZ Block 6. I want to say 6-700 million barrels but I am not sure, can't remember, and haven't been able to find my files on the projections.
ND9
JACA-1 was spud on April 25, 2022.
ND9
ron_66271, thanks for all your posts and contributions.
Nd9
Mortgage demand drops to a 22-year low as higher interest rates and inflation crush homebuyers
PUBLISHED WED, JUL 20 20227:00 AM EDTUPDATED WED, JUL 20 20228:15 PM
Diana Olick
@IN/DIANAOLICK
https://www.cnbc.com/2022/07/20/mortgage-demand-drops-to-lowest-level-in-22-years.html
Mortgage demand drops to a 22-year low as higher interest rates and inflation crush homebuyers
PUBLISHED WED, JUL 20 2022
7:00 AM EDTUPDATED 26 MIN AGO
https://www.cnbc.com/2022/07/20/mortgage-demand-drops-to-lowest-level-in-22-years.html
Nigeria, Equatorial Guinea In Partnership Talks To Boost Gas Production
by Innocent Odoh
4 hours ago in News
https://leadership.ng/nigeria-equatorial-guinea-in-partnership-talks-to-boost-gas-production/
Home prices falling, mortgage applications slowing, loan rates going up, we're either in a recession or about to enter a recession. Yet you think COOP is going up 50%? Sure, sure. Will never happen unless they announce possession of WAMU assets and they are going to pay for them.
ND9
nwtf, I understand you can sell the shares but can't buy them back. I have known that for a long, long time. I don't want them back and I don't need them back. I have millions of shares of ERHC. So I made a mistake and sold 500,000 shares. Who cares? I don't care. The only reason I even mentioned it was to confirm, what lovemelongtime said was true (i.e., a friend bought 500,000 shares last week). End of story.
ND9
When housing market was on fire, COOP couldn't reach $80. Now, housing market cooling off, interest rates have risen to 6%, we're going into a recession, and you think COOP is now going to hit $80. You are dreaming.
ND9
TDAmeritrade.
I sold 500,000 shares last week. I was setting sell limit orders and made a mistake on one lot. I was surprised to see a message stating that I had a trade confirmation, and that I sold 500,000 shares. It was a mistake but my fault. So I can confirm somebody bought my 500,000 shares last week.
ND9
Oct 18 &19, 2022 - 17th Annual Delaware Trust Conference
The Delaware Bankers Association and The Delaware Financial Education Alliance
Present the 17th Annual Delaware Trust Conference
2022 Delaware
Trust Conference
October 18 & 19
Chase Center on the Riverfront, Wilmington
Located at 815 Justison Street, Wilmington, DE 19801
Dear Wealth Management Professional,
Delaware trusts have long been recognized around the globe as premiere vehicles for wealth management. Thanks to Delaware’s rule of perpetuity and many other flexible laws, they serve their clients generation after generation with products that are solid and dependable.
The seventeenth annual Delaware Trust Conference features a stellar lineup of the nation’s top trust, legal, and wealth management experts. Our speakers will provide the most up-to-date information on maximizing the benefits derived from utilizing Delaware trusts for estate planning. And while many panels are Delaware
specific, this year’s agenda offers a wide array of wealth management information for trust practitioners from across the nation.
Once again we’re pleased to offer a flexible conference experience. For those who enjoy in-person attendance we’re delighted to be back at the spacious Chase Center on the Riverfront. For those who prefer the convenience
of remote viewing this year’s conference will also be available in a high-quality live stream. There will also be a selection of on-demand sessions. And all sessions will be available for credit, on-demand through November
30th.
The Delaware Trust Conference is an ideal opportunity to network while obtaining continuing education credit
for Trust Professionals, Portfolio Managers, Financial Advisors, Attorneys, CPAs, CTFAs, Wealth & Asset
Management Services Executives, Executive Trust Officers, Investment Officers, Investment Managers, and
Trust Department Managers.
Sponsors and exhibitors are encouraged to join the growing list of prestigious firms. For complete information
on sponsorship and exhibitor opportunities, please visit www.debankers.com, or email Corinne Stayton at:
corinne.stayton@debankers.com.
We look forward to seeing you at the 2022 Delaware Trust Conference!
Day 1 - Tuesday - October 18th
Note: All Sessions Are Available for Live Streaming.
On-Demand Sessions will be available through November 30, 2022 for Full Credits!
7:45 - 8:30 a.m. - Registration
8:30 - 10:00 a.m. - Plenary Session 1 (90 minutes) - Group Live
What The Cool Kids Are Doing, Current Trends In Estate Planning – In light of recent
developments, some estate planning strategies have become especially popular. This
presentation explains and evaluates several “hot” planning ideas, including spousal lifetime
access trusts, charitable remainder trusts as beneficiaries of retirement accounts, ultra-longterm GRATs, and incomplete gift nongrantor trusts.
w Samuel A. Donaldson, Professor of Law, Georgia State University
10:00 - 10:20 a.m. - Welcome / Break - Governor’s Hall with Exhibitors
10:20 - 11:20 a.m. - Plenary Session 2 (60 minutes) - Group Live
Crypto and Digital Assets - With almost 20% of Americans holding some crypto currencies and the
federal government getting ready to issue more regulations and adopt legislation about them. This is
a critical asset class for estate planners. This presentation will discuss what they are, how they work
and the best ways to deal with them in estate planning and administration.
w Jonathan Blattmachr, Principal, Pioneer Wealth Partners
11:20 - 11:30 - Break - Governor’s Hall with Exhibitors
11:30 a.m. - 12:30 p.m. - Plenary Session 3 (60 minutes) - Group Live - Ethics
Bending the Arc of History Toward Justice - Terrence Franklin had been a trust and estate
litigator, handling disputes including will contests for a quarter century, when he discovered a will
contest from the 1840s that challenged the will done by his white fourth great-grandfather that
emancipated Terrence’s fourth great-grandmother and her children and grandchildren from slavery.
This discovery led Terrence to share the story of his ancestors and other stories like them. In this
presentation, Terrence recounts the riveting story of his ancestor Lucy Sutton and the fight in
the courts to uphold the last will and testament, and he also profiles several other black women,
contemporaries of Lucy, who just may have helped Lucy and her family make it to freedom.
w Terrence Franklin, Partner, Sacks, Glazier, Franklin & Lodise LLP
12:30 p.m. - 1:30 p.m. - Lunch
1:30 - 3:00 p.m. - Plenary Session 4 (90 minutes) - Group Live
Counseling the Millennial Millionaire - A discussion focusing on the many challenging
estate planning and trust administration issues unique to young, wealthy clients.
w Alexander Lyden-Horn, Managing Director, Director of Delaware Trust Services and
Trust Counsel, Evercore Trust Company, N.A.
w Matthew D’Emilio, Managing Member, McCollom D’Emilio Smith Uebler LLC
w Beth Knight, Director, Richards, Layton & Finger
w Erin Markham, Vice President, Senior Trust Officer,
The Goldman Sachs Trust Company
3:00 - 3:15 p.m. - Break - Governor’s Hall with Exhibitors
- 4 -
3:15 - 4:15 p.m. - Plenary Session 5 (60 minutes) - Group Live
The Modern Directed Trusts: Wait, You Are Directing Me to Do What? - Taking
direction from third party advisors without fiduciary experience/knowledge can provide
some added risk depending on what the trustee is directed to do. This session will
address issues such as non-traditional investments, distribution to individuals who are not
beneficiaries, distributions directly out of an LLC, as well as issues with the attainment of
information needed to perform its duties as directed trustee such as valuations for closely
held entities, tax information, and foreign asset information.
w Isabel Rute Araújo, SVP/Chief Administrative Officer,
Key National Trust Company of Delaware
w Robert W. Eaddy, President, The Bryn Mawr Trust Company of Delaware
w Cynthia D.M. Brown, President, Commonwealth Trust Company
w Thomas M. Forrest, President & CEO, U.S. Trust Company of Delaware
4:15 - 4:30 p.m. - Break - Governor’s Hall with Exhibitors
4:30 - 6:00 p.m. - Plenary Session 6 (90 minutes) - Group Live
Planning With Purpose in Mind - Trusts’ material purposes have traditionally been expressed
implicitly. Longer-lived trust documents such as dynasty trusts, and the dispersion of fiduciary
responsibility among advisors and trustees, heighten the need to express material purposes
explicitly. We will review the history of the material purpose/Claflin doctrine, and consider ways
to express purpose in several areas: discretionary distribution standards, unique assets and
concentrated holdings, and statements of intent.
w R. Hugh Magill, Vice Chairman, Retired, The Northern Trust Company
6:00 - 7:00 p.m. - Reception - Governor’s Hall with Exhibitors
Day 2 - Wednesday - October 19th
7:15 - 8:00 a.m. - Registration
8:00 - 9:30 a.m. - Plenary Session 1 (90 minutes) - Group Live
Review of the Past Year’s Significant, Curious, or Downright Fascinating Fiduciary Cases
- This session will review selected reported fiduciary litigation decisions from 2021 that relate to
multiple areas of estate planning, estate and trust administration, the fiduciary duties of agents,
administrators, trustees, and other fiduciaries, and related trial practice, and identify and discuss
navigating contemporary fiduciary challenges.
w Dana G. Fitzsimons, Jr., Principal, Senior Fiduciary Counsel, Bessemer Trust
9:30 - 9:45 a.m. - Break - Governor’s Hall with Exhibitors
9:45 a.m. - 10:45 p.m. - Plenary Session 2 (60 minutes) - Group Live
Delaware Developments: Improved Statutes! New Cases! – Our panel will
serve as your guides to scale the heights of improved Delaware statutes – and plumb
the depths of the always-intriguing backstories giving rise to new case law addressing
Delaware trusts.
w Jocelyn Margolin Borowsky, Partner, Duane Morris LLP
w Gregory J. Weinig, Partner, Connolly Gallagher LLP
10:45 - 11:00 a.m. - Break - Governor’s Hall with Exhibitors
- 5 -
- 6 -
11:00 - 12:00 p.m. - Plenary Session 3 (60 minutes) - Group Live
Use of Delaware trusts in International/Cross Border Planning -
Delaware trusts help solve some of the most complex international tax and
non-tax planning challenges. This panel will explore applications of Delaware
trust law to facilitate cross-border wealth transfers, inbound U.S. investments,
pre-immigration planning and other problems confronting multi-national
families.
w Scott A. Bowman, Partner, McDermott Will & Emery LLP
w Myriam Soto, Head of International Wealth Planning and Fiduciary Services, BNY Mellon Wealth Management
w Daniel Hayward, Partner, Gordon, Fournaris & Mammarella, P.A.
12:00 - 12:15 p.m. - Break - Governor’s Hall with Exhibitors
12:15 - 1:00 p.m. - Lunch - Governor’s Hall with Exhibitors
1:00 - 2:00 p.m. - Plenary Session 4 (60 minutes) - Group Live - Ethics
Avoiding a Wealth of Trouble - Claims against trust and estate lawyers are on the rise. This
program will address the top claims and ethics issues facing trust and estates lawyers, including
conflicts, joint representations (including family representations), confidentiality, and managing the
representation with good engagement and closing letters.
w Randy Curato, Vice President, Senior Loss Prevention Counsel, ALAS, Inc.
2:00 - 2:15 p.m. - Break - Governor’s Hall with Exhibitors
2:15 - 3:15 p.m. - Plenary Session 5 (60 minutes) - Group Live
Competing with Copy Cats - Why the First State is Still #1 for Personal Trusts - With
favorable trust laws now in many states, why Delaware remains the leader. This session counters
misleading state rankings to show why experience, innovation, and infrastructure put Delaware first.
w Jeffrey C. Wolken, Senior Vice President, Wilmington Trust, N.A.
3:15 - 3:30 p.m. - Break - Governor’s Hall with Exhibitors
3:30 - 4:30 p.m. - Plenary Session 6 (60 minutes) - Group Live
Purpose Trusts - Description TBA.
w Vincent Thomas, Partner, Young Conaway Stargatt & Taylor LLP
w Beth King, President,
Brown Brothers Harriman Trust Company of Delaware, N.A.
4:30 - 4:45 p.m. - Break - Governor’s Hall with Exhibitors
- 7 -
4:45 - 5:45 p.m. - Plenary Session 7 - (60 minutes) - Group Live
Trusts in Motion - This panel will discuss issues around determining trust
governing law for validity, construction and administration, including situs,
choice of law and conflicts of law issues. This will include an update on the
Uniform Law Commission drafting committee on conflicts of law in trusts and
estates acts.
w Todd Flubacher, Partner, Morris Nichols Arsht & Tunnell LLP
w Elizabeth Luk, Head of Delaware Trust, BNY Mellon
w Susan D. Snyder, Trust Counsel and Deputy General Counsel, Northern Trust
On Demand Sessions
On Demand Session 1 - Corporate Transparency Act - 2021 was filled with a significant amount of
legislative activity that impacted the wealth planning and tax practice. The Corporate Transparency
Act represents the most significant reformation of the Bank Secrecy Act and related anti-money
laundering rules since the US PATRIOT Act. All wealth planning and tax practitioners will need
to understand the compliance obligations under the CTA, which is mainly focused on requiring
corporations, limited liability companies, partnerships, and indirectly trusts, to disclose information
on their beneficial owners. The reporting requirements cast a broad net, can be onerous, and are
riddled with exceptions. This panel will cover the history behind the enactment of the CTA, key
provisions under the CTA and recently issued proposed regulations, and practical considerations on
how practitioners can comply with the guidance available to date.
w Glenn G. Fox, Partner, Tax/Wealth Management, Baker & McKenzie LLP
On Demand Session 2 - Case Studies: Discretionary Distributions - Making discretionary
distributions is a fundamental responsibility of a trustee. Multiple case studies
will illustrate how trustees balance between competing interests when exercising
discretion.
w Cody Snyder, Vice President, Senior Fiduciary Officer,
The Bryn Mawr Trust Company of Delaware
w Timothy S. Egan, Managing Director, Wealth Advisory,
The Glenmede Trust Company, N.A.
On Demand Session 3 - Onboarding Trust Case Studies: Tips for Resolving Natural Tension
Between Business Development and Trust Administration -
This Case Study will address the age-old dispute between Business Development
and Trust Administration/Group Management. Topics will include: Acceptance of
Non-Traditional Assets, High-Risk Clients, Non-US Clients, Time-Sensitive Matters
and More!
w Todd Hammond, CTFA, TEP, Vice President, National Trust Business
Development Officer, Bryn Mawr Trust Co. of DE, Bryn Mawr Trust
w Wendy Zimmer Cox, J.D., CTFA, Senior Vice-President Fiduciary Officer,
Director of Personal Trust, Greenleaf Trust
https://www.debankers.com/assets/2022_DE_Trust_Conference_Agenda.pdf
lodas, is that the best you've got? Seriously? Even if Posner knew something, he couldn't say anything. That would be considered as insider trading. That is, Posner giving out confidential info to 1 shareholder and not thousands of others. Geeez. You are really grasping at straws. You should just give it up and go do something else for a living. You're not credible in your present job.
ND9
Sao Tome and Gulf of Guinea security articles:
1.) US wants to strengthen partnership with Sao Tome and Principe on maritime security
12/07/2022 (i.e., July 12)
https://www.plataformamedia.com/en/2022/07/12/us-wants-to-strengthen-partnership-with-sao-tome-and-principe-on-maritime-security/
2.) US Navy ESB Completes Gulf Of Guinea Maritime Security Patrol
April 18, 2022.
https://www.navalnews.com/naval-news/2022/04/us-navy-esb-completes-gulf-of-guinea-maritime-security-patrol/
3.) Nigerian Navy takes giant strides in Gulf of Guinea security
NEW AFRICAN
14/03/2022
https://newafricanmagazine.com/27912/
4.) NIGERIA AND SHIPPING INDUSTRY LAUNCH STRATEGY TO ELIMINATE PIRACY THREAT IN GULF OF GUINEA
11 July 2022, London/Abuja
https://www.bimco.org/news/priority-news/20220711-gulf-of-guinea-press-release
5.) UN Security Council Calls for Renewed Focus on Gulf of Guinea Piracy
PUBLISHED JUN 3, 2022 6:05 PM BY THE MARITIME EXECUTIVE
https://maritime-executive.com/article/un-security-council-calls-for-renewed-focus-on-gulf-of-guinea-piracy
Shell committed to making Nigeria a gas hub
***********
Old article but still interesting, especially when consider JDZ and EEZ
ND9
****************************
Shell committed to making Nigeria a gas hub – Igo Weli
11th October 2021
in Business, National
The Shell Petroleum Development Company of Nigeria (SPDC) has reinforced its position to transform Nigeria into a gas hub within the Gulf of Guinea in line with the Energy Transition sweeping across the globe.
Consequently, the company disclosed that it has keyed into the country’s Natural Gas Expansion Programme introduced in the year 2020 envisioned to make the country utilise its vast gas resources effectively.
The Country Head, Corporate Relations, SPDC, Mr Igo Weli, who disclosed this at the weekend in his remarks at the 7th annual public lecture of the Federated Correspondents’ Chapel of Nigeria Union of Journalists, (NUJ), Bayelsa State Council, which took place at the Matho Crystal Hotel, Yenagoa, said Shell is committed to the project.
Weli noted that Shell in Nigeria is also working with the Federal Government of Nigeria to build a network of gas plants and pipelines to help bring power to the country’s growing industrial and commercial sectors.
‘This infrastructure will also increase the export of liquefied natural gas (LNG) to meet global demands for power and heating.
‘In Bayelsa State, Shell Nigeria Gas signed an agreement with the Nigerian Content Development and Monitoring Board, (NCDMB) to provide gas infrastructure to the NCDMB industrial gas park in Polaku. NCDMB estimates the park could generate over 30,000 local employment opportunities.
‘As the only wholly-owned Nigerian subsidiary of an international oil company in domestic gas distribution, (Shell Nigeria Gas), SNG, is a symbol of Royal Dutch Shell’s commitment to clean, sustainable energy access and security in Nigeria and across the globe,’ Weli stated.
Represented at the occasion by the SPDC’s Government Relations Adviser, Bayelsa, Chief Owei Bubo, Weli stressed that the Assa North/Ohaji South Gas Development Project in Imo State is expected to be one of the largest gas facilities in Nigeria, as well as others located at Lagos, Oyo, Ogun, Abia and Rivers States are examples of Shell’s long term commitment to Nigeria.
Weli seized the opportunity of the event to implore traders and businesses that had traditionally used petrol and diesel generators to power their light and equipment, to now have Shell Nigeria Gas Limited supply natural gas to Independent Power Project (IPP) consortium that provides electricity to the areas.
He also urged journalists to justify the trust reposed in them by the public by religiously sticking to the ethical standards of the journalism profession in their reportage.
https://www.sunnewsonline.com/shell-committed-to-making-nigeria-a-gas-hub-igo-weli/
Depositary Fees Notification
Security: Global Ports Investments
CUSIP#: 37951Q103
JPMorgan Chase Bank, N.A
Lodas, that's a bunch of crap. They aren't going to tell one shareholder the real truth while thousands of other hear nothing. Companies can't do that. That is illegal... Geeeez.
ND9
After almost 14 years of secrecy, did you really think that you could just call, and he would give you the real story? Seriously?
Christiana Bank & Trust Company
https://delawarecounselgroup.com/representative-clients/
Pooling and Servicing Agreement by and among WaMu Asset Acceptance Corp., as Depositor, Washington Mutual Bank, as Servicer, LaSalle Bank National Association, as Trustee, and Christiana Bank & Trust Company, as Delaware Trustee, dated as of June 1, 2006.
P-3 C aircraft of the Portuguese Air Force begins cooperation mission with STP
By Non-screen posted on July 14, 2022
A P-3 C aircraft, from the Portuguese Air Force, with 37 military personnel, landed on July 11 of this year, in Sao Tome and Principe, with the objective of performing air missions within the scope of Bilateral Cooperation with Sao Tome and Principe. of the "AMLEP - Africa Maritime Law Enforcement Partnership ", contributing to the inspection of the Exclusive Economic Zone of this country, within the scope of the cooperation agreement between the Portuguese Republic and the Democratic Republic of Sao Tome and Principe in the field of inspection of maritime spaces under sovereignty or jurisdiction of the Democratic Republic of Sao Tome and Principe.
This mission, with a maximum of 70 hours of flight time, of which 27 will be carried out in Sao Tome and Principe, aims to contribute to the international effort in terms of maritime security in the Gulf of Guinea.
The detachment will operate from Nuno Xavier Airport, in Sao Tome and Principe, until July 21 of this year, and after that date, it will operate from Praia International Airport – Nelson Mandela, in Cabo. Verde, until August 1st, when he will return to Air Base N° 11, in Beja, Portugal.
Source - Defense Attaché of the Portuguese Embassy in STP
https://www-telanon-info.translate.goog/destaques/2022/07/14/37847/aeronave-p-3-c-da-forca-aerea-inicia-missao-de-cooperacao-com-sao-tome-e-principe/?_x_tr_sl=pt&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc
Large Green, I signed and I think over the last 14 yrs, the field has been plowed, seeds planted, and field watered. Now let’s grow some cotton! Lol.
Nd9
It would be the largest take over and or merger in history. Nobody has ever paid that much for a takeover and or merger, never.
ND9
Tiny Houston firm strikes gold in huge oil deal
**************************
Opus, I've been invested in this company since I saw 2005 article below. :>) Long, long, long, long time ago :>)
ND9
**************************
Tiny Houston firm strikes gold in huge oil deal
Tiny player strikes gold in huge oil deal
African nation promises local ERHC Energy a share of profits
DAVID IVANOVICH
Copyright 2005 Houston Chronicle Washington Bureau
March 13, 2005
The impoverished West African nation of São Tomé and Príncipe may soon become the world's newest oil exporter, and its leaders have entrusted the country's great hopes to an obscure Houston company.
The winner of this prize: ERHC Energy, which has one full-time employee, $20,272 in cash at the Sept. 30 end of its 2004 fiscal year ($915,330 as of Dec. 31) and no experience drilling offshore.
This little-known company, based in a Westheimer office building, has been promised a share in a potential crude bonanza in the Gulf of Guinea.
São Tomé and neighboring Nigeria have been evaluating bids from oil companies wanting to drill in waters that are believed to hide more than 11 billion barrels of crude.
Five offshore blocks in a joint development zone are up for grabs. Little ERHC has been guaranteed a cut in each one.
"I've never heard of anything like it, anywhere in the world" — at least not since Africa's colonial days, said Jedrzej George Frynas, a lecturer in international management at England's University of Birmingham.
Exxon Mobil Corp. has been granted rights to claim a stake in two of these blocks. The oil industry is watching to see whether the world's largest publicly traded company will jump in with this strange bedfellow.
ERHC's aggressive, penny-stock investors are all but salivating at the prospects.
On Web sites such as www.ragingbull.com or Bradenton, Fla., investor Joe Shea's weblog, erhc.blogspot.com, they trade tips and rumors as they await word that the blocks have been awarded.
"I'm a little disappointed that I'm not already a millionaire," Shea said.
https://www.chron.com/business/energy/article/Tiny-Houston-firm-strikes-gold-in-huge-oil-deal-1934213.php
That doesn't make sense on why they would do that. I don't get it. So what were the releases for, to get shares? Then why not give shares to all? If you believe all shareholders are going to get paid, then why not give shares to all previously? Why only those that signed releases?
ND9
SSC, it means:
(1.) until you actually drill a well and examine the results, you just never know if there is oil or not.
(2.) These things take time.
However, I still believe there is oil in Block 6 and even more in Block 4 and 5.
JMHO
ND9
Here's an example of Shell spudding Edinburgh well on March 15, 2022, then no news for last 4 months, until just recently, a couple of days ago, announcing it was dry and they are going to plug and abandon. So the point being, of course, these things take time.
ND9
*************
Shell to plug hotly awaited Edinburgh well after it comes up dry
A North Sea exploration well, previously tipped as one to watch, is to be plugged and abandoned (P&A) after coming up dry.
By Hamish Penman
08/07/2022, 9:15 am
https://www.energyvoice.com/oilandgas/north-sea/exploration-production/426070/shell-to-plug-hotly-awaited-edinburgh-well-after-it-comes-up-dry/
They must have had technical issues, or decided to drill deeper, and or perform a bunch of testing (or even a second well like Krombacher surmised). Or maybe all of the above.
I doubt that drillship is just sitting there waiting for some deal for Block 4 to be finalized. Or for Shell to coordinate with GALP, the STP, etc, etc. Drillships, personnel, support ships, helicopters, satellites, supplies, etc, gets expensive. Time is money. Rather than sitting off STP coast, the Voyager could be on way to another STP block, Suriname, Namibia, etc..... There must be another reason they are there for ~ 75 days.
JMHO
ND9
I like when Africans and or African operating companies are pushing back and telling the West to backoff. That is, what right do Westerners have to tell Africa to go green and not drill for oil. Africa still has lots of oil as Peter stated. The West has become rich off oil and yet now, they don't want Africa to have their own oil. Recently, one of the Namibian Energy Ministers was pushing back and saying something similar. I like it.
ND9
AZCowboy, I guess the part I struggle with is this... You just said they owe us the interest.... However, previously, you've implied that not all of the WMIH Preferred Managing Sub money is still there. Isn't that a contradiction? If they owe us the interest, then doesn't the WMIH Preferred Managing Sub money have to be there? I own a lot of WAMPQ and thus, very interested.
Thanks for all your thoughts, research, and sharing with the rest of us.
ND9