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Sao Tome: China embassy once more accepting applications for student visas
August 24, 2022
MNA China International
Sao Tome: China embassy once more accepting applications for student visas
By LUSA
China’s embassy in Sao Tome and Principe on Tuesday announced that it is once more accepting applications for student visas for people from the country wishing to study at universities in China.
In a statement, the embassy said that the move covers both new students and those already enrolled in universities in China, but who until now have been taking remote classes.
The embassy added that family members of students from Sao Tome and Principe may also apply for “residence for companionship” or visitor visas.
As of Wednesday, China will also allow the entry “without the need to apply for a visa” of Sao Tome and Principe nationals holding business travel cards from the Asia-Pacific Economic Cooperation forum. The aim, according to the embassy, is to “promote the international exchange of staff.”
The announcement comes four days after embassy officials met young people from Sao Tome graduating from universities in China.
China’s government has previously granted around 50 scholarships a year to students from Sao Tome.
In December, the two countries signed an agreement as part of China’s Belt and Road initiative, which foresees cooperation in areas such as infrastructure, economy, trade, culture and the training of human resources.
China has kept its borders closed to the overwhelming majority of foreign students since 2020, due to the Covid-19 pandemic.
https://www.macaubusiness.com/sao-tome-china-embassy-once-more-accepting-applications-for-student-visas/
Looks like FDIC was hiring to help with bankruptcies but didn't compete the jobs..
ND9
*********************
2021 Excepted Service; Consolidated Listing of Schedules A, B, and C Exceptions
A Notice by the Personnel Management Office on 08/24/2022
SUMMARY:
This provides the consolidated notice of all agency specific excepted authorities, approved by the Office of Personnel Management (OPM), under Schedule A, B, and C, as of June 30, 2021, as required by Civil Service Rule VI, Exceptions from the Competitive Service.
33.
Federal Deposit Insurance Corporation (Sch. A, 213.3133)
(a)-(b) (Reserved)
(c) Temporary or time-limited positions that are directly related with resolving failing insured depository institutions; financial companies; or brokers and dealers; covered by the Dodd-Frank Wall Street Reform and Consumer Protection Act, including but not limited to, the marketing and sale of institutions and any associated assets; paying insured depositors; and managing receivership estates and all associated receivership management activities, up to termination. Time limited appointments under this authority may not exceed 7 years.
https://www.federalregister.gov/documents/2022/08/24/2022-18175/2021-excepted-service-consolidated-listing-of-schedules-a-b-and-c-exceptions
Maybe WMI can't move forward with disbursements for old shareholders until JPM Chase pays for WMB.
TotalEnergies extends deadline for expressions of interest
August 23, 2022
The oil company TotalEnergies invites companies and other interested parties to express interest in providing services in two projects. Consult the two documents below, to know the projects, the content of the expression of interest, and the extension of the deadline for the submission of each of the expressions of interest:
First Letter Translated via google:
WARNING
REQUEST FOR EXPRESSION OF INTEREST
Rehabilitation and Equipment of an Agribusiness Center
in Lobata District
Within the scope of the Block 1 oil contract signed with the State of São Tomé, in which
commitments for the execution of social projects for the benefit of the community and following the
signature of the signed Memoranda of Understanding, TotalEnergies EP Sao Tome and
Prince B.V. – Branch in São Tomé e Príncipe, Lda., (“TotalEnergies”) will carry out a project
of Rehabilitation and Equipment for an Agribusiness Center in the District of Lobata (“Project”),
which will cover the rehabilitation of the existing building and its equipping, including furniture
and equipment.
TotalEnergies invites companies present in São Tomé and Príncipe to express their
interest in providing services for the Project, for the purposes of qualification and selection, in relation to
to the totality of the following services and supply of goods:
1. Carrying out renovation works on the building
2. Supply of equipment and furniture for the Center's equipment
3. Provide services in line with the Government Program – Robust Economic Growth
and Accelerated Employment Growth and YOUTHCONNEKTSTP – Strategic Program
of Fostering Entrepreneurship
Interested companies should send their expressions of interest to participate in the
tender to be held for this purpose, indicating the respective name and corporate purpose (accompanied by
proof of said registration), postal address, e-mail address,
telephone number, and contact person, with the subject: Rehabilitation and Equipment of the Center for
Agribusiness, to the following addresses:
Email: EP-AO-DT.CPACT@totalenergies.com
The expression of interest, in Portuguese, must be sent by September 2, 2022
at 5 pm (São Tomé and Príncipe local time), only responses
received by this date and time.
Upon receipt of expressions of interest, qualified interested parties will be sent a
invitation letter for submission of proposal(s), as well as the relevant documents containing the
information necessary for the preparation and submission of such proposals.
Second Letter Translated via google:
WARNING
REQUEST FOR EXPRESSION OF INTEREST
Income Generation and Entrepreneurship Program for
230 Vulnerable Families and Women (PGR-MF)
Within the scope of the Block 1 oil contract signed with the State of São Tomé, in which
include commitments for the execution of social projects for the benefit of the community and in the
following the signing of the signed Memoranda of Understanding, TotalEnergies EP Sao
Tome and Principe B.V. – São Tomé e Príncipe, Lda., (“TotalEnergies”) will
execute an Income Generation and Entrepreneurship Program (PGR-MF) (“Project”), the
which will cover 230 vulnerable families and women.
TotalEnergies invites companies present in São Tomé and Príncipe to express their
interest in providing services for the Project, for the purposes of qualification and selection, in relation to
to all of the following services:
1. Develop activities to create cooperatives with pre-established criteria, creation
income and livelihood, training program in economic activities, management of
small business, family budget and small grants.
2. Implement the Income Generation and Entrepreneurship Program for 230 Families and
Vulnerable women in all Districts and in the Autonomous Region of Príncipe.
3. Provide services in line with the Government Program – Robust Economic Growth
and Accelerated Employment Growth and YOUTHCONNEKTSTP – Strategic Program
of Fostering Entrepreneurship
Interested companies should send their expressions of interest to participate in the
tender to be held for this purpose, indicating the respective name and corporate purpose (accompanied by
proof of said registration), postal address, e-mail address,
telephone number, and contact person, with the subject: Concurso Geração de Renda, for
following addresses:
Email: EP-AO-DT.CPACT@totalenergies.com
The expression of interest, in Portuguese, must be sent by August 31, 2022
at 5 pm (São Tomé and Príncipe local time), only responses
received by this date and time.
Upon receipt of expressions of interest, qualified interested parties will be sent a
letter of invitation for submission of proposal(s), as well as the relevant documents c
https://www-telanon-info.translate.goog/anuncios/2022/08/23/38279/totalenergies-estende-prazo-para-manifestacao-de-interesses/?_x_tr_sl=pt&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc
Thanks kingpindg.
StillHoping, no, my assumption isn't based on the Underwriters being infallible. My assumption is based on the fact that they work on Wallstreet, they are involved in bankruptcies all the time, they have experience and inside information that others on this message board don't have. So it's just a low probability that they (UWs) don't know where the money is and what class (i.e, 19 vs 22) they should be in.
If it comes down to betting on either the Underwriters or other folks on this message Board, who I really appreciate, I would still have to go with the Underwriters. I think most people would.. However, to each his own.
ND9
ron_66271, so then I'll ask the same question I asked AZCowboy:
If it's not 75/25 till the end, why would the Underwriters want to be in Class 19 (preferred), when according to you and AZCowboy, Class 22 (i.e., common) is really where the riches are? This is basically what Alice was fighting about and the Underwriters wanted to stay in Class 19.
The Underwriters do this for a living. You're telling me they are so dumb, they picked Class 19 over Class 22 and that was a mistake? Just hard for me to believe.
Would you please explain this and I apologize if you already did, and I just plain forgot.
thanks,
ND9
New home sales fall 12.6% in July as rising prices take a toll
By Anna Bahney, CNN Business
Updated 12:03 PM ET, Tue August 23, 2022
New home sales plunged in July as high prices and mortgage rates pushed buyers to think twice about closing the deal.
Sales of newly constructed homes fell by 12.6% in July from June and were down 29.6% from a year ago, according to a joint report from the US Department of Housing and Urban Development and the US Census Bureau. It was the second consecutive month of declines.
Only 511,000 new homes were sold last month, at a seasonally adjusted annualized rate, down from a revised 585,000 in June. That's the lowest sales number since January 2016. A year ago, 726,000 newly constructed homes were sold.
Meanwhile, the median price for a new construction home rose to $439,400, up from $402,400 the previous month.
A challenging road ahead
New home sales have been trending lower as prospective buyers see their budgets stretched thin by long construction times, mounting costs and rising mortgage rates. The average interest rate for a 30-year, fixed-rate mortgage was above 5% for all of July, having risen more than two percentage points since January.
"Sales of new homes continue to crumple under the weight of high prices and higher mortgage rates," said Robert Frick, corporate economist at Navy Federal Credit Union.
As inventories of new homes rise, a pullback in prices is probably coming, Frick said, although there's a limit to how low they can go given the cost of materials, land and labor that get baked into builders' costs.
"Given builders are pulling back plans to construct more homes, we won't be building our way out of the current housing crisis for years," said Frick.
The latest data continues to paint a challenging picture for the US housing market, said John Fish, CEO of Suffolk Construction and chairman of the Real Estate Roundtable.
"While the Federal Reserve attempts to reduce inflation, rising construction and land costs, supply chain disruptions and the labor shortage are contributing to the growing gap between housing demand and supply," he said.
New home construction cools as more people get priced out of the housing market
New home construction cools as more people get priced out of the housing market
In the short term, Fish said, controlling inflation will be an important step toward improving the housing market and broader economy. But there are structural issues that need to be addressed for a successful economy in the long-term, Fish said, like developing land-use policies that are aligned with federal and local governments, developing more housing, and investing in technologies that will help lower the cost of construction to make development more attractive.
"We're witnessing a housing recession in terms of declining home sales and home building," Lawrence Yun, the chief economist of the National Association of Realtors, said last week after new data showed that existing home sales had fallen for the sixth month in a row. "However, it's not a recession in home prices."
This time, the housing market's adjustment is likely to be far less severe than the correction in 2008 because there are still fewer homes for sale than households that would like to buy them, said Kelly Mangold of RCLCO Real Estate Consulting.
"Underlying demand for for-sale new homes remains," she said.
And an upshot of the downturn for buyers is that there may be less competition and more price cuts.
"For those who are still motivated to buy, the market has become a less competitive space and buyers are not facing the bidding wars that characterized much of the earlier phases of the pandemic," she said.
https://www.cnn.com/2022/08/23/homes/new-home-sales-july/index.html
Actual ANP-STP Executive Director press statement on completion of JACA-1
*********
kingpindg posted the article. However, I was not sure if anybody posted the actual Aug 5, 2022 ANP-STP press release "letter" and thus, here is link. Apologies if this was already done.
ND9
***********************************
https://www.anp-stp.gov.st/index.php/pt/publicacoes/noticias-pt
AZCowboy, maybe they used the WMIH Preferred Managing Subsidiary's cash like you have stated. However, that doesn't mean they can't use other accounts/funds to pay the preferred. I just don't believe commons will get rich and the preferred won't. I don't believe the Hedge Funds and Underwriters are that dumb and would ever allow that. They do bankruptcies for a living, and they know where the hidden jewels are.
JMHO
ND9
Lots of banks that were seized in 2008 and 2009 are on the list, but of course, not WAMU.
I've said this before but I've always been concerned, that if it takes 14 years to close these small banks, will it take 100 years to close a huge bank like WAMU?
ND9
8/11/2022 - Notice to All Interested Parties of Intent To Terminate Receiverships
A Notice by the Federal Deposit Insurance Corporation on 08/11/2022
Notice is hereby given
that the Federal Deposit Insurance Corporation (FDIC or Receiver), as Receiver for the institutions listed below, intends to terminate its receivership for said institutions.
Notice of Intent To Terminate Receiverships
Fund Receivership name City State Date of appointment of receiver
10005 ANB Financial, NA Bentonville AR 05/09/2008
10012 Integrity Bank Alpharetta GA 08/29/2008
10018 Alpha Bank and Trust Alpharetta GA 10/24/2008
10020 Security Pacific Bank Los Angeles CA 11/07/2008
10022 The Community Bank Loganville GA 11/21/2008
10030 1st Centennial Bank Redlands CA 01/23/2009
10031 Magnet Bank Salt Lake City UT 01/30/2009
10037 Corn Belt Bank and Trust Company Pittsfield IL 02/13/2009
10038 Riverside Bank of the Gulf Coast Cape Coral FL 02/13/2009
10121 Irwin Union, FSB Louisville KY 09/18/2009
10199 Appalachian Community Bank Ellijay GA 03/19/2010
10215 Lakeside Community Bank Sterling Heights MI 04/16/2010
10291 Maritime Savings Bank West Allis WI 09/17/2010
The liquidation of the assets for each receivership has been completed. To the extent permitted by available funds and in accordance with law, the Receiver will be making a final dividend payment to proven creditors.
Based upon the foregoing, the Receiver has determined that the continued existence of the receiverships will serve no useful purpose. Consequently, notice is given that the receiverships shall be terminated, to be effective no sooner than thirty days after the date of this notice. If any person wishes to comment concerning the termination of any of the receiverships, such comment must be made in writing, identify the receivership to which the comment pertains, and be sent within thirty days of the date of this notice to: Federal Deposit Insurance Corporation, Division of Resolutions and Receiverships, Attention: Receivership Oversight Section, 600 North Pearl, Suite 700, Dallas, TX 75201.
No comments concerning the termination of the above-mentioned receiverships will be considered which are not sent within this timeframe.
(Authority: 12 U.S.C. 1819)
Federal Deposit Insurance Corporation.
Dated at Washington, DC, on August 3, 2022.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2022-17203 Filed 8-10-22; 8:45 am]
BILLING CODE 6714-01-P
https://www.federalregister.gov/documents/2022/08/11/2022-17203/notice-to-all-interested-parties-of-intent-to-terminate-receiverships
8/11/2022 - Notice to All Interested Parties of Intent To Terminate Receiverships
A Notice by the Federal Deposit Insurance Corporation on 08/11/2022
Notice is hereby given
that the Federal Deposit Insurance Corporation (FDIC or Receiver), as Receiver for the institutions listed below, intends to terminate its receivership for said institutions.
Notice of Intent To Terminate Receiverships
Fund Receivership name City State Date of appointment of receiver
10005 ANB Financial, NA Bentonville AR 05/09/2008
10012 Integrity Bank Alpharetta GA 08/29/2008
10018 Alpha Bank and Trust Alpharetta GA 10/24/2008
10020 Security Pacific Bank Los Angeles CA 11/07/2008
10022 The Community Bank Loganville GA 11/21/2008
10030 1st Centennial Bank Redlands CA 01/23/2009
10031 Magnet Bank Salt Lake City UT 01/30/2009
10037 Corn Belt Bank and Trust Company Pittsfield IL 02/13/2009
10038 Riverside Bank of the Gulf Coast Cape Coral FL 02/13/2009
10121 Irwin Union, FSB Louisville KY 09/18/2009
10199 Appalachian Community Bank Ellijay GA 03/19/2010
10215 Lakeside Community Bank Sterling Heights MI 04/16/2010
10291 Maritime Savings Bank West Allis WI 09/17/2010
The liquidation of the assets for each receivership has been completed. To the extent permitted by available funds and in accordance with law, the Receiver will be making a final dividend payment to proven creditors.
Based upon the foregoing, the Receiver has determined that the continued existence of the receiverships will serve no useful purpose. Consequently, notice is given that the receiverships shall be terminated, to be effective no sooner than thirty days after the date of this notice. If any person wishes to comment concerning the termination of any of the receiverships, such comment must be made in writing, identify the receivership to which the comment pertains, and be sent within thirty days of the date of this notice to: Federal Deposit Insurance Corporation, Division of Resolutions and Receiverships, Attention: Receivership Oversight Section, 600 North Pearl, Suite 700, Dallas, TX 75201.
No comments concerning the termination of the above-mentioned receiverships will be considered which are not sent within this timeframe.
(Authority: 12 U.S.C. 1819)
Federal Deposit Insurance Corporation.
Dated at Washington, DC, on August 3, 2022.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2022-17203 Filed 8-10-22; 8:45 am]
BILLING CODE 6714-01-P
https://www.federalregister.gov/documents/2022/08/11/2022-17203/notice-to-all-interested-parties-of-intent-to-terminate-receiverships
Kosmos files 8/8/2022 10-Q Quarterly Report for Quarter ending June 30, 2022
ND9
**************************************
Sao Tome and Principe
In the second quarter of 2022, we received approval for a six month extension to May 2023 for the current exploration phase for Block 5 offshore Sao Tome and Principe
https://www.sec.gov/ix?doc=/Archives/edgar/data/1509991/000150999122000056/kos-20220630.htm
Too bad galp and Shell are not American companies. I believe by law, American companies have to report commercial finds within so many days…
Jmho
Nd9
There is no mature JACA
ByTéla Nón
Posted on August 6, 2022
The project for prospecting and oil exploration of block 6 of the Exclusive Economic Zone of São Tomé and Príncipe was baptized by the oil companies Shell and Galp under the name JACA. One of the tastiest fruits of São Tomé and Príncipe.
The National Petroleum Agency, also a partner in the search for oil in the JACA well, informed téla Nón in a statement that drilling operations began on April 25.
As in the old day there in Roça, when we went to "jaca bush", the boys who were under the jaqueira rubbed their hands, and with mouthwatering, waiting for confirmation from the colleague who climbed the trees that jaca was mature. So many San-Tomes were anxious waiting for the probe's confirmation that there was a ripe jackfruit in well 6 of the EES.
The 8-paragraph statement published by the National Petroleum Agency on August 5 says only that the well drilling work ended on July 30. It doesn't say if you found a maid jackfruit. It doesn't say if it's raw, twinged or ripe.
With the completion of the operation the well was properly sealed and the probe ship, continuing its activities, went to other stops," says the statement from the National Petroleum Agency.
Maersk's Voyager ship left, and left behind data for analysis.
«The focus of the consortium now is to carry out the analysis and evaluation of the data collected in specialized laboratories... Additional information will be made available to the public as soon as the laboratory results are completed and delivered to the operating companies and the National Petroleum Agency," the statement said.
The consortium that works on the JACA well, is composed of the National Petroleum Agency of São Tomé and Príncipe with a 10% stake, and the operating companies Shell and Galp, each with a 45% stake.
There's no JACA yet.
Abel Veiga
https://www.telanon.info/economia/2022/08/06/38107/nao-ha-jaca-madura/
Sure, sure......... JACA-1 was a dry hole but on 8/1, the Director Executive da Agencia Nacional de Petroleo de Sao Tome e Principe, decided to go to Portugal and tour the refining facilities, anyway........ LOL ........... just for the heck of it.
He could have gone to Nigeria or Angola which are closer and also have refineries. Nope, he went to Portugal. Yes, Krombacher had a good point. They both speak Portuguese and that might have played into decision. However, another critical point is that Portugal is home to GALP (operator of Block 6 and JACA-1).
ND9
kingpindg, you said, "or if to proceed." There is no way the Director Executive da Agencia Nacional de Petroleo de Sao Tome e Principe would be touring Portugal refineries (i,e, GALP) on 8/1 if JACA-1 didn't find commercial oil and they were proceeding....
JMHO
ND9
Sao Tome: Gulf of Guinea is new epicentre of maritime piracy – minister
By LUSA
August 2, 2022
MNA International
Sao Tome and Principe’s minister of national defence, Jorge Amado, has said that the Gulf of Guinea region is currently “a new epicentre of maritime piracy”.
The minister, who was speaking at the opening ceremony of a five-day training course to combat maritime crime, stressed the importance of concerted cooperation of the states in the region to combat organised crime.
“The economic consequences are serious for the nations and partners involved, especially those dependent on maritime trade. A strong and concrete and holistic response from the international community and countries in the region is needed,” because, he stressed, “criminals know how to take advantage of the lack of cooperation between member states.”
“Sao Tome and Principe has an extensive Exclusive Economic Zone (EEZ) of about 160,000 square kilometres, which represents 160 times its land area. It is the main national asset, which is under-exploited and whose use should be boosted,” he said.
Organised crime and maritime piracy “imply the definition of a specific policy, the adoption of a principle of international cooperation,” Jorge Amado said, stressing that this “requires Sao Tome and Principe to urgently implement a national strategy for the sea, in order to respond to international challenges”.
“This strategy is geared towards boosting the economy, enhancing and preserving national heritage and is also a vehicle to affirm the country as a regional reference in the governance of sea affairs,” he stressed.
The United Nations coordinator in Sao Tome and Principe, Eric Overvest, stressed in his speech that “in an increasingly polarised world, the fight against organised crime and corruption is becoming more and more important, as it is the gangrene of the democratic system”.
In this sense, he said he hoped that Sao Tome and Principe would “redouble its efforts to ensure transparency in public finances, supervision of financial transactions and funding to political parties and elections” and highlighted the period leading up to the September elections, in which a new parliament will be elected.
The five-day training course, organised by the UN Regional Office on Drugs and Crime (UNDOC, in its acronym in English) for West and Central Africa covers participants from 14 São Toméan institutions and ministries, including armed forces and police and public prosecutors, is made under the European Union-funded Programme in Support of the Maritime Safety and Security Strategy in Central Africa (Passmar, in its acronym in English).
This programme started in March 2014.
https://www.bing.com/searchq=Sao+tome+center+for+piracy&form=ANNTH1&refig=7e321014b344409290c98e574a16fb86
Walmart Lays Off Hundreds of Corporate Workers
Retailer is restructuring headquarters operations after warning of profit troubles
By Sarah Nassauer
Updated Aug. 3, 2022 5:22 pm ET
https://www.wsj.com/articles/walmart-lays-off-hundreds-of-corporate-workers-11659558590
I doubt STP national oil agency director would be touring Portugal refining facilities yesterday, if STP eez block 6 was a dry hole.
Nd9
Agree, good point.. also, Putin has the Europeans scared.. they are afraid he will cut off gas (trump was right again - Germans aren’t laughing now).., Portugal wants to do more business with nigeria and STP…
Director Executive da Agencia Nacional de Petroleo de Sao Tome e Principe visita Sines (8/1/2022)
************
I wasn't able to cut and paste article but it basically says the STP Executive Director of National Petroleum agency visited Portugal Sines and toured their oil refining facilities.. At end of article, the STP Director states they are awaiting for results of Block 6 with great anticipation.
Question: Why would he tour oil refining facilities in Portugal (i.e., GALP)? Hmmm, unless maybe he is thinking that STP might be exporting oil to that location :>)
JMHO
ND9
***************
Director Executive da Agencia Nacional de Petroleo de Sao Tome e Principe visita Sines
Joaquim Bernardo
8/1/2022
https://radiosines.sapo.pt/noticias/director-executivo-da-agencia-nacional-de-petroleo-de-sao-tome-e-principe-visita-sines
AZCowboy, thanks for your thoughts. I think even if the WMIH Preferred Managing Sub does NOT show any relevant cash (as you stated), the Preferred will get paid from some other fund/mechanism. The Hedge Funds and Underwriters are not stupid. This is what they do for a living. They know where the money is and wouldn't have invested in preferred, if common was the big winner. In addition, they have been hiding these assets for almost 14 years. I'm sure they can hide the preferred funding just as well...
Oh well, time will tell. Good luck to all.
JMHO
ND9
AZCowboy, but does it make sense? So I know what you're saying about the SEC filings but does it make sense? Do you really think the Hedge Funds would take worthless preferreds when they could have been buying commons? Do you think the Hedge Funds would stand by and allow KKR to take all the preferreds money? Do you think the Underwriters would have chosen to go into Class 19 if the money wasn't with preferreds and was with Class 22?
It just doesn't make sense that the preferreds aren't going to get anything and commons will be the big winners. That's basically what you are saying....
JMHO
ND9
AZCowboy, but what about the rich and powerful Hedge funds, that own the majority of preferreds? Hard for me to believe they just stood by and let KKR take all the preferred money, leaving only money for commons? Seriously? Hard to believe.
JMHO
ND9
It’s a lot more that that.. $28m probably just for drillship..
yeah, when you are a rich Senior Executive of a company, it's easy to say that..
Yep, especially with Portugal, Nigeria, and GALP negotiating huge energy investments. Export of gas, etc.. I posted articles on this on ~ 7/6/2022.
Nd9
Certain additional Claims either are or could be classified in Class 18, but are disputed on the basis of, among other things, validity, amount, and/or appropriate classification. For example, pursuant to that certain Stipulation Resolving Debtors’ Amended Thirty-Second Omnibus (Substantive) Objection With Respect to Claim Nos. 3812 and 2689 [D.I. 6068], dated November 23, 2010, by and among, among others, the Debtors and the Policeman’s Annuity and Benefit Fund of the City of Chicago (defined in Section V.B.6.g below as “Chicago PABF”) and Doral Bank Puerto Rico (defined below as “Doral Bank”), as lead plaintiffs, on behalf of a putative class, in the consolidated putative securities class action entitled Boilermakers National Annuity Trust Fund v. WAMU Mortgage Pass Through Certificates Series ARI, Case No. 09-0037 (MJP) (the “Boilermakers Plaintiffs”), the parties thereto agreed that certain Claims filed by and on behalf of the Boilermakers Plaintiffs would be withdrawn, without prejudice to the re-filing of such Claims in the event that a plan was filed that would provide recovery to holders of Allowed Subordinated Claims. Certain Boilermaker Plaintiffs argue that they are now permitted to refile their Claims because the Seventh Amended Plan provides for a conditional distribution to holders of Allowed Subordinated Claims. In the Boilermaker Plaintiffs’ objection to this Disclosure Statement [D.I. 9316], filed January 4, 2012, the Boilermaker Plaintiffs asserted that they are entitled to re-file their Claims as General Unsecured Claims rather than as Subordinated Claims. On January 10, 2012 the Boilermakers Plaintiffs submitted a new proof of Claim, asserted in the amount of “at least $273 million,” on behalf of the putative securities litigation class. The Debtors dispute this Claim, and, as of the date of this Disclosure Statement, no party has moved to estimate such Claim
https://www.sec.gov/Archives/edgar/data/933136/000090951812000087/jg02-2712_8ke22.htm
Financial Oversight and Management Board for Puerto Rico
268 Muñoz Rivera Ave, Suite 1107
San Juan, PR 00918-1813
Attn: Natalie A. Jaresko, Executive Director
– with a copy to –
PROSKAUER ROSE LLP
Eleven Times Square
New York, NY 10036
Attn: Martin J. Bienenstock, Esq.
Brian S. Rosen, Esq.
https://fingfx.thomsonreuters.com/gfx/legaldocs/egpbkaakzvq/puerto%20rico%20eighth%20modified%20plan.pdf
New Home Sales Plunge to Lowest Since April 2020 Lockdown Trough
JOHN CARNEY
26 Jul 2022
Sales of new homes in the U.S. plunged 8.1 percent to a seasonally-adjusted annual rate of 590,000 in June, a far slower pace than expected by economists, Commerce Department data showed Tuesday.
The Commerce Department revised down its estimate for prior months. The May sales figure was revised down from 696,000 to 642,000, indicating the market was already much more sluggish than previously thought. That means sales grew by 6.3 percent compared with the initial estimate of a gain of 10.7 percent.
New home sales data can be volatile, especially when interest rates are changing. They frequently get revised.
Economists had expected an annual sales rate of 676,000 for June, according to Econoday.
The June figure represents a 17.4 percent decline from a year ago.
The media sales price of a new home sold was $402,400, a decline from May’s $449,000 and April’s record high $457,000. Three months of declining median sales prices may indicate that new home prices peaked this spring just as the Federal Reserve began to hike interest rates.
The supply of new homes jumped by 10.7 percent in June from the prior month. At the current sales rate, there is a 9.3 month supply of homes, which is considered a large amount of unsold homes on the market.
The Federal Reserve’s interest rate hikes have cooled down what was a blazing hot housing market. That is one of the primary channels through which the Fed’s tightening of monetary policy works. The average on a 30-year fixed-rate mortgage was 5.52 percent in June and has been around 5.45 percent in July. A year ago, the average rate was 2.87 percent.
In a separate report, the S&P CoreLogic Case-Shiller 20-city index on Tuesday showed home prices were up in May 20.5 percent compared with a year ago, a deceleration from the 21.12 percent gain reported in April. Compared with the prior month, the index was up 1.3 percent, also slower than the 1.7 percent gain reported in April.
The Federal Housing Finance Agency’s report on home prices, also released Tuesday, showed a 1.4 percent month-over-month gain and an 18.3 percent annual gain.
https://www.breitbart.com/economy/2022/07/26/new-home-sales-plunge-to-lowest-since-april-2020-lockdown-trough/
I'm going with 80/20, they found commercial oil. If there was a hint of no oil, the drillship would have left long ago. Shell needs to understand how much oil is in STP EEZ Block #6 because they will have to pay Kosmos.
Also, I wouldn't put too much stock into what GALP states. Even though they are the operator, they really have never been in charge of this block.
JMHO
ND9
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
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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
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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
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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