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BBANBOB, you might be correct. I just hope we’re all alive to see that one day….
Nd9
6/7/2022 Latest "Notice of Termination and Receiverships"
Notice of Termination of Receiverships
A Notice by the Federal Deposit Insurance Corporation on 06/07/2022
The Federal Deposit Insurance Corporation (FDIC or Receiver), as Receiver for each of the following insured depository institutions, was charged with the duty of winding up the affairs of the former institutions and liquidating all related assets. The Receiver has fulfilled its obligations and made all dividend distributions required by law.
Notice of Termination of Receiverships
Fund Receivership name City State Termination date
10023 Downey Savings and Loan Association, F.A Newport Beach CA 06/01/2022
10126 San Joaquin BankBakersfield CA 06/01/2022
10128 First DuPage BankWestmont IL 06/01/2022
10148 Century Bank, FSB Sarasota FL 06/01/2022
10149 Orion Bank Naples FL 06/01/2022
10184 George Washington Savings Bank Orland Park IL 06/01/2022
10192 Sun American Bank Boca Raton FL 06/01/2022
10532 Louisa Community Bank Louisa KY 06/01/2022
The Receiver has further irrevocably authorized and appointed FDIC-Corporate as its attorney-in-fact to execute and file any and all documents that may be required to be executed by the Receiver which FDIC-Corporate, in its sole discretion, deems necessary, including but not limited to releases, discharges, satisfactions, endorsements, assignments, and deeds. Effective on the termination dates listed above, the Receiverships have been terminated, the Receiver has been discharged, and the Receiverships have ceased to exist as legal entities.
(Authority: 12 U.S.C. 1819)
Federal Deposit Insurance Corporation.
Dated at Washington, DC, on June 1, 2022.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2022-12222 Filed 6-6-22; 8:45 am]
BILLING CODE 6714-01-P
https://www.federalregister.gov/documents/2022/06/07/2022-12222/notice-of-termination-of-receiverships
6/7/2022 Latest "Notice of Termination and Receiverships"
Notice of Termination of Receiverships
A Notice by the Federal Deposit Insurance Corporation on 06/07/2022
The Federal Deposit Insurance Corporation (FDIC or Receiver), as Receiver for each of the following insured depository institutions, was charged with the duty of winding up the affairs of the former institutions and liquidating all related assets. The Receiver has fulfilled its obligations and made all dividend distributions required by law.
Notice of Termination of Receiverships
Fund Receivership name City State Termination date
10023 Downey Savings and Loan Association, F.A Newport Beach CA 06/01/2022
10126 San Joaquin BankBakersfield CA 06/01/2022
10128 First DuPage BankWestmont IL 06/01/2022
10148 Century Bank, FSB Sarasota FL 06/01/2022
10149 Orion Bank Naples FL 06/01/2022
10184 George Washington Savings Bank Orland Park IL 06/01/2022
10192 Sun American Bank Boca Raton FL 06/01/2022
10532 Louisa Community Bank Louisa KY 06/01/2022
The Receiver has further irrevocably authorized and appointed FDIC-Corporate as its attorney-in-fact to execute and file any and all documents that may be required to be executed by the Receiver which FDIC-Corporate, in its sole discretion, deems necessary, including but not limited to releases, discharges, satisfactions, endorsements, assignments, and deeds. Effective on the termination dates listed above, the Receiverships have been terminated, the Receiver has been discharged, and the Receiverships have ceased to exist as legal entities.
(Authority: 12 U.S.C. 1819)
Federal Deposit Insurance Corporation.
Dated at Washington, DC, on June 1, 2022.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2022-12222 Filed 6-6-22; 8:45 am]
BILLING CODE 6714-01-P
https://www.federalregister.gov/documents/2022/06/07/2022-12222/notice-of-termination-of-receiverships
Day 43 since JACA-1 was spudded. Maersk Voyager looks like it's still in the same spot as before.
ND9
https://www.shiplocation.com/vessels/MAERSK-VOYAGER/MARINE-TRAFFIC/9633575
You're welcome.
*********************************************
profile pic Nightdaytrader
RE: newflow post# 689315
Post#
689404
of 689433
Sunday, 06/05/2022 04:46:51 PM
Essentially, the winding up process deals with actions ending the business affairs and terminating company obligations before liquidation.
Jul 10, 2019
Difference between liquidation, dissolution and winding uphttps://malesculaw.com › difference-between-liquidation-...
Essentially, the winding up process deals with actions ending the business affairs and terminating company obligations before liquidation.
Jul 10, 2019
Difference between liquidation, dissolution and winding uphttps://malesculaw.com › difference-between-liquidation-...
40 days since April 25 JACA-1 spud date and no news.. could mean they have found something and continue to drill and test.. let’s hope so..
Nd9
38 days since Jaca-1 spud date. I think the longer we go without news, the better. Dry holes typically drill faster so hopefully we get good news down the road..
Nd9
Even though their deep-water experience is limited and they didn't do engineering for this STP EEZ, Block 6, JACA-1 well, GALP is the official "operator." So it will be interesting to see if they (GALP) provide the official results from drilling (& not Shell).
ND9
Can Jaca turn Sao Tome and Principe into new oil producer within the Gulf of Guinea?
31 May 2022
Erik Meyer
Maria Lupachik
Sao Tome and Principe has a chance to become a new oil producer in case of positive results of the recently spudded Jaca-1 new-field wildcat, targeting a Cretaceous-aged basin floor fan. The prospect is located within the offshore Block 06 operated by Portugal's Galp Energia with Royal Dutch Shell as a technical operator. Jaca-1 is the first-ever offshore well to be drilled in Sao Tome and Principe exclusive economic zone (EEZ) and also the first exploration well in distal Gabon-Douala Deep Sea Basin. If successful, the well will prove a working petroleum system in the deep offshore area outboard of the Douala, Rio Muni, and Gabon Coastal basins.
The well is currently being drilled by the Maersk Voyager drillship at a water depth of around 2,500 m, targeting a probe at a total depth of about 4,500 m. If successful, the possible development of the field would involve a floating production, storage and offloading (FPSO) vessel with offshore loading onto shuttle tankers to export the crude oil to market. With prevailing and forecasted oil price expected to remain over $90/bbl until the end of 2023, at $95/bbl the minimum economic field size (MEFS) is estimated to be in the region of 180 MMbbls recoverable, while a discovery of 300 MMbbls is expected to have a NPV of over USD 1 billion. At a more conservative Brent oil price scenario of $85/bbl Galp Energia is likely targeting at least 270 MMbbls recoverable, while a discovery of 500 MMbbl will have a value over USD 1 billion with IRR of 13% and a government take less than 40%.
Should Jaca-1 be a success, it has the potential to de-risk prospective resources in the Gabon-Douala Deep Sea Basin and play a key role for the future exploration activities within Sao Tome and Principe.
jaca prospect evaluation
Figure 1: Jaca prospect valuation
For more information regarding well, field & basin summaries, please refer to EDIN.
For more information regarding asset evaluation, portfolio view, and production forecasts, please refer to Vantage.
For more information regarding our country activity report, please refer to GEPS.
For more information regarding E&P costs please refer to IHS Markit Que$tor.
Posted 31 May 2022 by Erik Meyer, Senior Technical Research Analyst, IHS Markit and
Maria Lupachik, Sr Technical Research Analyst, Upstream Energy, IHS Markit
This article was published by S&P Global Commodity Insights and not by S&P Global Ratings, which is a separately managed division of S&P Global.
https://ihsmarkit.com/research-analysis/can-jaca-turn-sao-tome-and-principe-into-new-oil-producer-with.html
Royal Dude, I saw that also and thought about posting, but I wasn't smart enough to know what it meant and if it might be applicable to us, LOL.
ND9
São Tomé and Príncipe and Angola expand areas of cooperation in the VIII Bilateral Commission in São Tomé
May 30, 2022
By: Ricardo Neto, journalist at STP-Press News Agency
São Tomé, 30 May 2022 ( STP-Press ) – The Minister of Foreign Affairs, Cooperation and Communities, Edite Ten-jua and the Minister of Foreign Affairs of Angola, Téte António co-chaired today in São Tomé the opening of the VIII Bilateral Commission between the two countries and identified the priority areas for the expansion and strengthening of cooperation relations.
In her speech, The Minister of Sao Tome, Edite Ten-Jua stressed that "as attest to the presence of You and your delegation in Sao Tome and Principe, it is possible and desirable that other sectors expand fields of our relations of cooperation, always in a view of mutual benefits and gains".
"I refer specifically to the areas of natural resources, energy, the importance of fisheries, sea, agriculture, investments, finance, trade, transport, security, while focusing with particular focus on issues relating to the Gulf of Guinea," Added Edite Tenjua.
Having declared that "also, one word lies in political-diplomatic concertation as well as our communities" the Head of Sao Tome diplomacy also called for "strengthening trade exchange" and "combating climate change" at african level
In his speech, Angolan Foreign Minister Téte António said that "Angola considers as a priority the political-diplomatic, defense and security, public order, migration, finance, trade, justice, human rights, agriculture" domains.
Having also cited the areas of "telecommunications, information technology, natural resources, oil and gas, transportation, tourism, culture, investment promotion, education, training of staff", Téte António said that "and certainly the issue of our communities".
Téte António explained that it is with "a spirit of well-being for our peoples and the development of our countries" and that "we consider the promotion, implementation and consolidation of cooperation to be fundamental, the results of which meet our aspirations".
End/RN
https://www.stp-press.st/2022/05/30/sao-tome-e-principe-e-angola-ampliam-areas-de-cooperacao-na-viiia-comissao-bilateral-em-sao-tome/
"the intention was to count on Portugal in this new stage of Sãomé and Príncipe in the country, which will arrive with the use of oil, whose first stage of life took place in April."
Kosmos, Total, and ERHC were fighting over STP EEZ Block 4 (not 6)
Don't forget ERHC Energy still has the rights to 15% of two other EEZ Blocks.
Cooperation between Portugal and São Tomé and Príncipe in the safety of oil exploration
Sugar Mizzy
May 27, 2022
The advanced information was provided by the Sao Tome Minister of Justice, Internal Administration and Human Rights, Cilcio Bandeira dos Santos, at the end of the signing of a cooperation program with Portugal in security and civil protection, which took place in Lisbon.
At the end of Cilcio Bandeira dos Santos, the intention was to count on Portugal in this new stage of Sãomé and Príncipe in the country, which will arrive with the use of oil, whose first stage of life took place in April.
Thinking about this topic, the Tomense minister expressed the intention of creating a commission that those responsible for the two countries study, analyze and propose how to take into account that the maximum tranquility is ensured in the possible and possible effect of two countries. and aspirations around this energy resource.
The Portuguese Minister of Internal Administration, José Luís Carneiro, the other subscriber to the Administration program, guaranteed Portugal’s availability for further support.
The official said that his Sao Tome counterpart had already requested, before the signing of the document, that part of the training of the security forces focused specifically on the “security of critical infrastructures in Sao Tome and Principe, namely in the field of energy resources” .
In April, Económica and Principe are launched, by the Exclusive Zone, and in April, Económica and Principe, in a block of Shell and Galp companies.
https://europe-cities.com/2022/05/27/cooperation-between-portugal-and-sao-tome-and-principe-in-the-safety-of-oil-exploration/
At this point, after all these years, I don't even care about UWBKQ and or WAMU being taxed (& how much). I just want my recovery.
JMHO
ND9
Shell is expected to strike oil in STP EEZ Block 6 JACA-1.
It doesn't take 60 days to drill this well. Unless something has gone wrong and there were unexpected delays, then it would of course take longer. However, after 32 days they have either hit the reservoir depth or they are close. Now, after that, there could be lots of testing and analysis, that would require many more days.... but just to drill JACA-1, they don't need 60 days, not even 50.. maybe 40 days, max.. I am sure of that.
I know they have stated 60 in press release or wherever, but that estimate lots of contingencies, other work, and margin, as kingpindg stated.
ND9
Probably just a way to screw escrow holders. I would rather stick with the Trillion dollar company. I would like escrows to receive stock in that entity.
32 days since spud date... Unless something has gone wrong, they have probably already hit target JACA-1 reservoir depth or will do so very soon.
JMHO
ND9
Withdrawal of Determination of Insufficient Assets To Satisfy Claims Against Financial Institution in Receivership
A Notice by the Federal Deposit Insurance Corporation on 06/10/2014
ACTION Notice.
SUMMARY The FDIC has withdrawn and set aside its determination that insufficient assets exist in the receivership of Colonial Bank, Montgomery, Alabama, to make any distribution on general unsecured claims and that such claims have no value.
TABLE OF CONTENTS DATES:
FOR FURTHER INFORMATION CONTACT:
SUPPLEMENTARY INFORMATION:
DATES: The FDIC withdrew its determination on June 4, 2014.
FOR FURTHER INFORMATION CONTACT: If you have questions regarding this notice, you may contact an FDIC Claims Agent at (972) 761-8677. Written correspondence may also be mailed to FDIC as Receiver of Colonial Bank, Attention: Claims Agent, 1601 Bryan Street, Dallas, Texas 75201.
SUPPLEMENTARY INFORMATION: On April 15, 2013, the FDIC determined that the assets of Colonial Bank, Montgomery, Alabama, were insufficient to make any distribution on general unsecured claims, and that such claims therefore had no value. Notice of the determination was published in the Federal Register on April 19, 2013. 78 FR 23565. The FDIC has now withdrawn its determination because the Receivership's theoretically possible recoveries have been revised upward as a result of changed circumstances and could possibly exceed the previously calculated $1.698 billion deficit, which in turn could possibly result in payment on non-deposit claims under the most favorable circumstances.
Dated: At Washington, DC, June 4, 2014.
Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2014-13423 Filed 6-9-14; 8:45 am]
BILLING CODE 6714-01-P
https://www.federalregister.gov/articles/2014/06/10/2014-13423/withdrawal-of-determination-of-insufficient-assets-to-satisfy-claims-against-financial-institution
Everybody gets paid except us escrow holders.. still waiting
Yep, and spud date was 4/25.. almost one month ago.
Yeah, a couple of years ago or so, they changed my margin requirements overnight.. I complained but they stated they have that right..
Of course it means more now! There is drilling in STP eez block 6, lol !!!
"The study shows that all the elements of a working petroleum system are present in the waters of the STP-EEZ."
****************************
São Tomé and Príncipe Exclusive Economic Zone
Matt Tyrell, Joshua May and Eric Mueller; PGS, Orlando Pontes; ANP-STP
Following modern reprocessing of multi-client data, PGS discuss the four key reasons to be excited about the hydrocarbon prospectivity in the São Tomé and Príncipe Exclusive Economic Zone (STP-EEZ).This article appeared in Vol. 15, No. 5 - 2018
Hydrocarbon Potential in the São Tomé and Príncipe Exclusive Economic Zone (STP-EEZ)
Base map showing the territorial waters of the STP-EEZ together with neighbouring countries. The PGS MultiClient seismic and well datasets are shown together with annotations showing the major fluvial input points (orange arrows).
In recent years, the São Tomé and Príncipe Exclusive Economic Zone (STP-EEZ) has been the subject of significant attention from major oil companies, resulting in applications for exploration licences and farm-in activities over nine blocks. PGS reprocessed its MultiClient library data using modern processing techniques and conducted a basin analysis study to help understand the recent interest. The study shows that all the elements of a working petroleum system are present in the waters of the STP-EEZ. Continental and transitional crust provide structures and source rocks and PGS basin modelling reveals that these sediments are mature for oil and gas. Long-lived fluvial systems provide quality reservoirs fed from numerous sedimentary catchment areas.
The São Tomé and Príncipe Exclusive Economic Zone (STP-EEZ) lies within the heart of a tripartite petroleum neighbourhood dominated by long-lived fluvial sedimentary basins: the Niger Delta to the north, the Rio del Rey and Douala Basins to the north-east and the Rio Muni Basin to the east.
PSTM seismic section (below) from 2001 acquisition (reprocessed in 2014) showing tectonic zones, differing phases of syn-kinematic fill and evidence of sands draping over structural highs.
https://www.geoexpro.com/articles/2018/12/sao-tome-and-principe-exclusive-economic-zone
April 25 was jaxa-1 spud date.. won’t be long now….
“It’s massive”: TotalEnergies makes huge oil discovery off Namibia with “exceptional” Venus-1 wildcat
Sources describe French supermajor’s ultra-deepwater discovery — where pre-drill resources stood at about 1.5 billion barrels — as “an elephant” find
23 February 2022 18:09 GMT UPDATED 25 February 2022 12:22 GMT
By Iain Esau in London
French supermajor TotalEnergies has made a “massive” oil discovery with its Venus-1 wildcat offshore Namibia, Upstream has been told.
There are well-founded suggestions that this ultra-deepwater structure in 3000 metres of water could be a multi-billion-barrel oil discovery, further confirming an earlier Upstream report that the initial results from the wildcat were positive.
The Venus probe represents another game-changer for Namibia’s government, which was already on a major high after Shell made another huge oil find with its Graff-1 probe just to the east.
https://www.upstreamonline.com/exclusive/-it-s-massive-totalenergies-makes-huge-oil-discovery-off-namibia-with-exceptional-venus-1-wildcat/2-1-1173419
An estimated 11 billion barrels in oil reserves have been found off Namibia’s coast, with the first production planned within four years, mines and energy minister Isak Katali announced Wednesday.
The finding could put Namibia on par with neighbouring Angola, whose reserves are estimated at around 13 billion barrels and whose production rivals Africa’s top producer, Nigeria.
Katali said that Enigma Oil & Gas, owned by London-listed Chariot Oil & Gas, has identified 11 prospects along the southern coast.
“The largest of these, the Nimrod Prospect in 350 meters (1,150 feet) depth, and most likely reserves in the event of success are estimated to be greater than four billion barrels,” he told parliament.
“Enigma expects to find oil rather than gas,” Katali said, adding that first production could begin as early as 2015.
Enigma holds a 50% equity in the offshore Southern Block together with Brazil’s Petrobras.
According to Katali, another Brazilian company, HRT Oil & Gas Ltd, has raised $1.3 billion on the Brazilian stock market, with $300 million earmarked for oil and gas exploration in Namibia.
He said that HRT has certified about 5.2 billion barrels of potential reserves. “This finding could turn offshore Namibia into a great producer of oil and gas in a short time,” Katali said.
In his statement to Parliament, Katali added that HRT would drill three to four wells in that area as early as next year.
Another find off Namibia’s central coast called Delta Prospect contained recoverable resources of up to two billion barrels of oil, by Arcadia Expro Namibia and British firm Tower Resources, he said.
“We expect that six to eight wells to be drilled in Namibia’s waters in the next 18 months, the highest number in Namibia’s exploration history,” he said.
Namibia has long been seen as a potential new source of oil, hampered by a lack of exploration to determine the extent of its reserves. Its offshore geology is similar to Brazil, which is seeing a boom in oil.
Source: Rigzone news
https://www.ecooilandgas.com/namibia-sees-11-billion-barrels-in-offshore-oil-reserves/
55% of Elcrest is owned by Starcrest Energy Nigeria Limited, which is a subsidiary of the Chrome Group...
https://elcrestng.com/
WaMu Accuses Shareholders of Milking System
Apr. 29, 2010 3:06 AM ETCOOP, JPM, BCS, LEHMQ15 Comments
Last Wednesday, Brian Rosen, lead attorney for Washington Mutual’s (WAMUQ) holding company, accused the company’s shareholders of attempting to milk the bankruptcy system.
Angered by Rosen’s "milk" statement made public in open court, images such as this have begun to circulate on the internet.
https://seekingalpha.com/article/201598-wamu-accuses-shareholders-of-milking-system
Remember when Rosen said in court there was nothing for shareholders and wampq/wamuq stock crashed? Well if there was nothing for shareholders, why did we get stock? So relying on Rosen’s word is just silly..
Well, we don’t know what is going on behind the scenes. Who is to say that Shell, Total, Qatar Energies haven’t discussed buying the erhc energy JDZ and EEZ acreage. Is Shell strikes big oil in STP eez block 6, that might trigger a buyout.. who know..
Jmho
Nd9
Erhc doesn’t currently have rights to STP eez block 6 so if Shell strikes oil, erhc should move up a little..,
If Shell hits oil in STP EEZ Block 6, what will that do for the ERHE share price? Could it go up to 1 cent? 5 cents?
ND9
kingpindg, good point. I forgot about Namibia. However, also note that the $100M payment is based on the wells drilled this year. So $100M implies Kosmos believes Shell will hit oil on all the wells they drill (& the percentages from Kosmos).
The Kosmos CEO really messed up. He panicked when oil crashed, selling off lots of good Kosmos assets in Namibia, STP, Suriname, etc, to raise money.
JMHO
ND9
Kosmos expects Shell to be successful in STP EEZ Block 6
From Kosmos May 9 earnings presentation. See below, Kosmos expecting another $100M from Shell for success in STP EEZ Block 6.
ND9
*********
May 9, 2022: Further De-leveraging Expected in FY22
• Shell exploration success (capped at $100
million)
https://investors.kosmosenergy.com/static-files/0e58b849-aee7-454e-aef1-bae6975908a2
Krombacher, I was thinking the same thing. In fact, this is probably a good thing that Shell has Maersk Voyager after STP EEZ drilling is scheduled to end.
ND9
Shell plans to use Maersk Voyager, to drill one well, in Suriname in 3rd Quarter
I don't have access to these articles but you can read the overview and piece them together, to understand
ND9
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Shell lines up drilling rig for key Suriname deep-water exploration well. European supermajor Shell plans to use the Maersk Drilling drillship Maersk Voyager to carry out a one-well wildcatting programme offshore Suriname in hopes of making a significant discovery in the deep waters of the South American nation.2 days ago
Shell lines up drilling rig for key Suriname deep-water ...
****************
Shell lines up drilling rig for key Suriname deep-water exploration well
European supermajor set to spud the Zanderij-1 wildcat in Block 42 in the third quarter
12 May 2022 15:43 GMT UPDATED 13 May 2022 11:33 GMT
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Shell lines up drilling rig for key Suriname deep-water exploration well
European supermajor set to spud the Zanderij-1 wildcat in Block 42 in the third quarter
12 May 2022 15:43 GMT UPDATED 13 May 2022 11:33 GMT
By Fabio Palmigiani in Rio de Janeiro