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So you are saying $300B goes to common and only $7.5B to preferred?…. I can’t believe hedge funds would have allowed that..
Jmho
nd9
In re: Matrix Bancorp Trading, Inc...
Latest Termination of Receivership - banks from 2007/2009
Incredible, all these small banks, from 2007/2009, are just getting their receiverships terminated. Makes you wonder if FDIC will ever close a huge bank like WAMU.
ND9
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Notice to All Interested Parties of Intent To Terminate Receiverships
A Notice by the Federal Deposit Insurance Corporation on 06/24/2021
DOCUMENT DETAILS
Printed version:
PDF
Publication Date:
06/24/2021
Agency:
Federal Deposit Insurance Corporation
Document Type:
Notice
Document Citation:
86 FR 33290
Page:
33290 (1 page)
Document Number:
2021-13433
DOCUMENT DETAILS
DOCUMENT STATISTICS
Page views:
0
as of 06/24/2021 at 10:15 am EDT
DOCUMENT STATISTICS
PUBLISHED DOCUMENT
Start Printed Page 33290
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.
Expand Table
Notice of Intent To Terminate Receiverships
Fund Receivership name City State Date of appointment of receiver
10001 Netbank Alpharetta GA 09/28/2007
10136 Bank USA, NA Phoenix AZ 10/30/2009
10137 Community Bank of Lemont Lemont IL 10/30/2009
10138 North Houston Bank Houston TX 10/30/2009
10141 Citizens National Bank Teague TX 10/30/2009
10351 Nevada Commerce Bank Las Vegas NV 04/08/2011
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 Department 34.6, 1601 Bryan Street, Dallas, TX 75201.
No comments concerning the termination of the above-mentioned receiverships will be considered which are not sent within this time frame.
(Authority: 12 U.S.C. 1819)
Federal Deposit Insurance Corporation.
Dated at Washington, DC, on June 21, 2021.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2021-13433 Filed 6-23-21; 8:45 am]
BILLING CODE 6714-01-P
https://www.federalregister.gov/documents/2021/06/24/2021-13433/notice-to-all-interested-parties-of-intent-to-terminate-receiverships
A great birthday present.. happy birthday BBANBOB !
11 days after emergency hearing and no order from Walrath yet?
Hmmmm
ND9
Great find kingpin, thanks!
Nd9
Thanks AZCowboy! Eom.
IMO, it is very likely that there will be an issuance of shares. COOP has everything to do with wmi escrows.
Watch out for the daily coop pumpers..
I keep thinking that if sanctions are severe enough, then maybe they have Alice over a barrel..... but of course, not sure..
budhenryusa, good point, tomorrow is 6/21...
New oilfield in African wilderness threatens lives of 130,000 elephants
Exploratory project in Botswana and Namibia is threat to ecosystems, local communities and wildlife, conservationists say
https://www.theguardian.com/environment/2021/jun/20/new-oilfield-in-african-wilderness-threatens-lives-of-130000-elephants
Could Alice be negotiating a deal?
So we had the emergency hearing with Judge Walrath but then a week later and no signed order? Could it be possible that Alice is negotiating some sort of deal, maybe no sanctions against her, if she agrees to not appeal to SCOTUS?
I really don't know, just wondering out loud if that was possible?
ND9
It's pretty simple... Is the glass half empty or half full of water?
Why else would Qatar establish diplomatic relations with São Tomé e principe? For the fishing? Lol.
No, Qatar petroleum buying into South Africa, Namibia, Ivory Coast, Kenya, etc, etc.. they want oil and gas..
Royal Dude, you make it sound like Alice has a choice.. based on what judge walrath said, I didn’t think Alice had a choice.. I thought the judge, in court, verbally ordered her to withdraw the sdny filing.. we haven’t see order but that is what walrath said..
Wrong... read the WMILT filing.... the emergency appeal was so that the WMILT didn't have to go to the SDNY court... they didn't want to do that... they were going to have to respond to SDNY court soon... I think 6/21.... So the WMILT filed emergency request to Walrath Bankruptcy court to stop Alice from continuing the SDNY case..... the WMILT won.....
Alice can still file an appeal of bankruptcy case to SCOTUS...
Here they are again: TotalEnergies/Qatar Petroleum working together again
Oh.... and Qatar just established formal diplomatic relations with Sao Tome e Principe
Hmmmm
********************************************
TotalEnergies, Qatar Petroleum, Chevron Submit Winning Bids for Suriname Offshore Blocks
June 18, 2021
Credit: Staatsolie
U.S. oil major Chevron, and a consortium between France's TotalEnergies and Qatar's Qatar Petroleum have submitted winning bids for shallow-water offshore acreage in Suriname, Suriname's national oil company Staatsolie said Friday.
Staatsolie said the trio had submitted "most favorable" bids for the relevant blocks offered in the SHO Bid Round 2020/2021 which had closed for bidding on April 30.
In total Staatsolie received a total of ten bids for three of the eight blocks which were on offer. The blocks are located in the west of the Shallow Offshore area, south of the recent deepwater discoveries made in Block 58, and northwest of the onshore producing fields.
Chevron filed the most favorable bid for Block 5, and the TotalEnergies and Qatar Petroleum joint venture for Block 6 and Block 8.
"Staatsolie and the successful bidders are now in the process of concluding Production Sharing Contracts (PSCs) for the relevant blocks and will make further announcements once the PSCs are awarded," Staatsolie said.
Staatsolie previously said that the obligation for the winning firms would be obliged to carry out new 3D seismic data surveys in the 1st exploration phase with a drill-or-drop decision before drilling in subsequent phases.
https://www.oedigital.com/news/488572-totalenergies-qatar-petroleum-chevron-submit-winning-bids-for-suriname-offshore-blocks
My TD AMTD acct has had the markers and Washington Mutual Inc over it, for years....
WASHINGTON MUTUAL INC
939ESC992
"By reducing Class 18 Claims pursuant to the Stipulation by approximately $24,000,000, such actions helped generate potential recoveries for
holders of Preferred Equity Interests and Common Equity Interests alike."
"......the Plan expressly provides for the pro rata treatment [color=red][/color]of all Class 19 interests."
"Plan, $1. 170. Pursuant to the express terms of the Stipulation, the "Class 19 Claiims shall be allowed in the amount of $71, 953, 536. 09 and treated in accordance with Section 23. 1 of the Plan, " thereby adding such claims to the definition of "Preferred Equity Interests".
Namcor takes charge of oil storage facility
2021-03-30 Maihapa Ndjavera
The National Petroleum Corporation of Namibia has successfully taken over the country’s N$5.5 billion national fuel storage facility.
The facility was designed and constructed as a strategic resource with the primary aim of increasing the country’s fuel supply security from the previous seven to ten days to the current 30 to 45 days.
This means should the global supply of petroleum products be interrupted for whatever reason, Namcor will be able to provide fuel to the entire country for at least between 30 to 45 days.
The facility consists of a tanker jetty, multiple product pipelines and a terminal, consisting of seven tanks with a capacity of 75 million litres.
Announcing the official handover of the facility yesterday, Namcor board chairperson Jenny Comalie noted that while construction of the facility, situated in Walvis Bay, commenced in January 2015, the corporation had foresight to recruit and train competent Namibian staff, who, in the process, also assisted the government with the completion and commissioning of the facility.
The facility was officially handed over to Namcor on 1 March 2021 after undergoing a successful commissioning process over several months.
Comalie further indicated the facility will not only be used for Namcor’s trading purposes but also to host other international oil marketing companies such as Vitol and Gunvor, Vivo and Total to ensure it is utilised optimally and that Namibia becomes a strategic gateway through which neighbouring African states are supplied.
She added that the first shipment of commissioning stock arrived on 1 December 2020, valued at N$407.3 million, which heralded the testing and commissioning of the facility.
“Namcor has already begun to successfully sell the commissioning stock to its retail, commercial, bunkering and export customers, as well as other local marketing companies with success,” explained Comalie.
Namcor has so far realised total revenue of N$152 million on the three products sold since commissioning.
At yesterday’s announcement, Namcor managing director Immanuel Mulunga explained commissioning the facility meant bringing in fuel equivalent to the capacity of the terminal to test the operation of the entire system.
Mulunga assured the nation that the commissioning has so far been a resounding success and that the fuel is safe and clean for use.
Moreover, Mulunga stated that even though Namcor owns and operates the massive facility, this does not give them any right to influence fuel and pump prices in Namibia.
In addition, according the Namcor’s mandate, Mulunga said the corporation looks forward to rolling out more service stations in the coming months in a bid to take services closer to people across the country.
He explained the target is about 33 service stations to be completed by 2024. By end of June this year (2021), eight Namcor service stations, currently under construction, are expected to be operational. - mndjavera@nepc.com.na
2021-03-30 Maihapa
https://neweralive.na/posts/namcor-takes-charge-of-oil-storage-facility
The Permian Wave (article talks about RECAF)
14 June 2021
For those that might have missed it, a company that few had heard of a year ago is riding an investor-fuelled wave which has led to its market capitalization move from a little under USD 20 million in March 2020 to more than USD 1.2 billion in June 2021. To call its performance meteoric would be an understatement - Reconnaissance Energy Africa Ltd (TSX-V: RECO) (ReconAfrica) makes Bitcoin's year look humble.
Pure play explorers (companies with very limited portfolio diversity) with onshore acreage within basins that play host to Permian aged sediments are attracting significant investor support. So much so that the traditional exploration model for small market cap explorers seems to be in question (small caps can self-fund at least during the initial exploration phase including drilling).
In this article we will look at five essentially pure play listed companies with assets onshore within basins that play host to Permian aged sediments in southern Africa. Of the five companies two are pure play explorers (ReconAfrica and Invictus Energy (ASX: IVZ)), two are moving towards production (Kinetiko Energy Limited (ASX: KKO) and Tlou Energy Limited (ASX: TOU)) and one will start producing from the first onshore LNG facility south of the Angola LNG plant in 2021 (Renergen Limited (ASX: RLT)).
As ReconAfrica's otherworldly performance is driving interest, we will pay particular attention to this. The other four companies help to place ReconAfrica in the wider context of Permian aged exploration and production in the region.
The Geology
At least 18 basins within Sub-Saharan Africa play host to Permian to Triassic aged sediments generally referred to as Karoo aged sediments. To date 12 discoveries have been made which are understood to be sourced from Karoo aged sediments within these basins (they are indicated on the map below).
Southern Africa Karoo Basins
Figure 1: Southern Africa's Karoo Basins
Here it's worth noting that of the 12 discoveries only three are oil discoveries, all located in Madagascar and sourced from Triassic aged source rocks. Perhaps more polarizing is that eight of the 12 are unconventional (all coal bed methane (CBM) with the exception of the Madagascan tar sand discovery), one is a combination of unconventional CBM and conventional gas and two are conventional. To be fair one of the two is reservoired in fractured shale so closer to an unconventional discovery than one might think, and the other is reservoired in the Triassic. Ultimately only two fields have a conventional gas component and two have a conventional oil component (both in Madagascar and Triassic sourced) (IHS Markit Basins content).
So, where does that leave us? Well, ReconAfrica is targeting Permian aged formations. As mentioned, thus far within the region these have yielded primarily unconventional CBM discoveries, alongside those two with conventional gas reservoirs. Tlou Energy is currently progressing towards a CBM to power project in Botswana and Kinetiko recently received a bulk gas production and removal grant (production by Kinetiko will at least initially be conventional). Also, of note is that the South African Council for Geoscience is currently drilling a deep stratigraphic well within the Karoo Basin aimed at assessing the shale gas potential. The initial results seem to suggest shale gas potential in what is assumed to be the Whitehill Formation. The reason for mentioning this is that the Karoo Basin, with which ReconAfrica draws an analogy, is the target of unconventional exploration (central southern portion); however, ReconAfrica has mentioned that it is focused on conventional targets. Of course, Permian source rocks do provide regional viability as potential source for conventional discoveries, so this is a possibility. It is however interesting that ReconAfrica would make the comparison given its conventional focus.
So why has ReconAfrica attracted so much investor support?
Oil and gas share performance in Africa
Figure 2: Share performance of five companies focused on "Karoo basins"
Answering this is somewhat more difficult. From the chart above one can see that both ReconAfrica and Invictus have performed well and with the exception of Kinetiko, better than others that are more advanced with regard to achieving production. So, the pure play explorers seem to be receiving investor backing, perhaps more so than others. That said ReconAfrica has performed about three-fold better than Invictus.
This may be due to:
ReconAfrica's rapid progression to drilling
the very large potential resource numbers suggested - in place resources within its Namibian Licence in the region of 17 Bbo (unconventional) and 14 Bbo (conventional)
the suggestion that they are targeting oil rather than gas
the indication that they have already established a working petroleum system (this announcement doubled the share price overnight). Here it's worth noting that the company announced gas and light oil in cuttings recovered.
perhaps the view that Namibia is a far more stable place to conduct business than other countries in the region
So, let's assume ReconAfrica makes a discovery, how much needs to be discovered to be worth USD 1.2 billion in northern Namibia?
We were interested to see what ReconAfrica would need to discover to justify a valuation north of USD 1.2 billion. At the time of writing, ReconAfrica's assets were essentially exploration acreage in Namibia and Botswana and the company held no oil or gas reserves. The fiscal regime for Namibia is good compared with many other established oil producing countries and this is expected - to date Namibia has no oil and gas production and in fact has only one offshore gas discovery. To encourage exploration the fiscal terms must be good, as the perceived geological risk is high. Even though the fiscal terms are excellent a conventional oil discovery with a net present value of around 1.2 billion would need to be in the region of 360 MMbo recoverable (this is if a pipeline is considered to evacuate the oil) however, if as ReconAfrica suggests, the oil is to be trucked and railed to the coast the number climbs to over 600 MMbo. If indeed unconventional oil is on the cards, then a little under 800 MMbo is required under the truck and rail option (an oil price of USD 70/bbl was assumed). Please take note these are not numbers required for a commercial discovery, but rather what would be required to justify a market capitalisation just north of USD 1.2 billion. Indeed, many might argue that far less needs to be discovered as it would derisk the rest of the licence (IHS Markit Vantage).
Discovery size to reach 1.2 Billion NPV
Figure 3: Discovery size required to reach USD 1.2 Billion NPV
Additional considerations
There are a few additional considerations; southern African analogies for the Owambo and Okavango basins (the basins atop which ReconAfrica holds acreage) within the region have delivered gas with the exception of oil from Triassic source rocks in Madagascar - suggesting that gas is a more likely hydrocarbon type within the ReconAfrica acreage. Indeed, Invictus with a licence within the undrilled Rufunsa Basin expects gas and condensate rather than oil and as such has a well-developed commercialization plan and arguably access to a far bigger market.
The location of any potential discovery within northern Namibia would present significant challenges. If indeed a discovery is made, depending on its location within the licence it could be anywhere between 600 km and 900 km from the ocean. ReconAfrica has suggested potential rail and or road transportation options. For an oil discovery this may work albeit adding significant operating costs and the overall CO2 intensity per barrel. If gas is discovered infrastructure would be required and there is only a very limited market within the immediate region (± 700 km from the centre of the licence). In fact, it would likely be far more cost effective to supply the relatively limited energy requirements for the region by renewable energy as opposed to gas to power schemes.
If an enormous gas discovery is made, then a pipeline to the coast and an LNG facility would be required - given the relative abundance of undeveloped gas in Southern Africa it's difficult to see how a landlocked gas discovery could compete (as mentioned above the immediate regional market is limited at best).
Conclusions
Investors are supporting onshore frontier exploration; however, commercialization of potential discovered resources seems to be of secondary concern. Exploration drilling is driving speculation and investors seem to have an appetite for risk.
While "Karoo Basins" may indeed be prospective, analogous basins suggest more unconventional than conventional potential and gas rather than oil.
There are several investment opportunities within Southern Africa's "Karoo Basins" however, for a discovery to ultimately be commercialized, to a degree its size will likely be less important than its location.
Posted 14 June 2021
Justin Cochrane is Director, Africa Regional Research at IHS Markit.
Christopher Ellis is a Principal Economist at IHS Markit.
Enrico Pedica is a Geospatial Analyst at IHS Markit.
Ismini Katsimpardi is a Senior Technical Analyst, Upstream Energy at IHS Markit.
Cyril Ruchonnet is an Associate Director for African Regional Research at IHS Markit.
Keryn Tsimitakopoulos is an Associate Director of Research for upstream energy at IHS Markit.
https://ihsmarkit.com/research-analysis/the-permian-wave.html
Very interesting find by Govinsider (from other Board)... Notice the date, very recent... could this be tied to Alice's "source?"
ND9
************************
JPMorgan staff irked over order to save texts on personal phones
SAT, JUN 12, 2021 - 9:32 AM UPDATED SAT, JUN 12, 2021 - 9:38 AM
https://www.businesstimes.com.sg/banking-finance/jpmorgan-staff-irked-over-order-to-save-texts-on-personal-phones
New president of ConocoPhillips Alaska says he’s excited to return to frontier exploration after stint in Texas
Author: Elwood Brehmer, Alaska Journal of Commerce clock
Updated: May 20 calendar Published May 20
New ConocoPhillips Alaska President Erec Isaacson should have a pretty good idea of what it will take to remain competitive on the North Slope in the rapidly evolving oil industry. That’s because he just was the competition.
Isaacson took to the helm of the Alaska business unit in January following the retirement of Joe Marushack, who had held the spot since 2015. He and his family came north from the Lower 48 where Isaacson led development and operations of the company’s Eagle Ford and offshore Gulf Coast assets, which produced an average of 241,000 barrels of liquids per day last year.
The South Texas Eagle Ford basin is one of ConocoPhillips’ — and the country’s — top focus areas for unconventional oil production and Isaacson said in a May 14 interview with the Journal that he believes Lower 48 unconventional, or shale, oil will largely continue to set the base of oil markets that other regions around the globe must match.
That’s in part due to the relative fast pace of the work that is regularly measured in weeks or months, compared often to years on the North Slope. And it’s more than just the ability to quickly match activity and production levels to market conditions; it’s the ability to innovate at the same pace.
“You’re finishing off wells every couple weeks. You drill and then move on to the stimulation phase and that ability to learn rapidly and continue to optimize really quickly,” Isaacson said of work in the shale fields of the Lower 48.
“You can try different things and learn really quickly whether or not it works and then you can optimize your program and continue to work in it from that standpoint; whereas up here, you’re not turning things over as quick. You have to take the opportunity to learn a little bit differently, through maybe just statistics. You just have to be more purposeful about the way that you learn, the way that you optimize (in Alaska).”
ConocoPhillips doubled down on its unconventional oil bet last year when the company announced a deal to purchase fellow shale producer Concho Resources for $8 billion, a further indication that the Lower 48 will remain Alaska’s biggest competition for oil capital within ConocoPhillips as well as broader markets for years to come, according to Isaacson.
He is well versed in the fundamentals of the North Slope industry despite being only a few months into the Alaska president position because it is not his first time here.
He first reported to work in Alaska in 2006 as the company’s exploration manager when ConocoPhillips was starting to explore the National Petroleum Reserve-Alaska in earnest. Before heading overseas in 2010 for roles leading operations in Qatar and Indonesia, he also did a stint as Alaska vice president of commercial assets at a time when ConocoPhillips still operated Cook Inlet gas fields and the Kenai LNG plant when cargoes were regularly being sent to Japan.
He was also a representative for the company on the Trans-Alaska Pipeline System Owners Committee.
“It was a real opportunity to see the full value chain of the oil and gas industry,” Isaacson said.
[Alaska oil industry still reeling from pandemic crash even as prices recover]
During his first tour north, ConocoPhillips was looking in the NPR-A to repeat the massively successful Alpine field, which began producing in 2001, and had picked up federal leases in the Chukchi Sea. At the time, many in the industry envisioned a big move offshore as sea ice gradually retreated and oil prices remained high.
That early NPR-A exploration is now starting to turn into oil production with the development of the two Greater Mooses Tooth drill sites — first oil from GMT-2 is expected late this year — but the company never struck Alpine 2.0. The shale-induced oil market reset of 2014-15 has all but evaporated former visions of massive Arctic offshore oil fields even if the resources are there.
Arctic offshore oil just can’t compete with the price standard set by Lower 48 unconventional production. However, Isaacson noted that Alaska’s innovations have come in the form of new onshore discoveries and major advancements in the sustainability of North Slope developments.
While ConocoPhillips did not replicate Alpine in its initial NPR-A exploration seasons, the company has turned the shallow, conventional Nanushuk oil formation find first popularized by Armstrong Energy and Repsol in the Pikka Unit into the $6 billion Willow project in the NPR-A and other satellite prospects as well.
“That Brookian topset play that is Willow and in the Pikka area — that was stuff that we weren’t really chasing back then,” Isaacson said of his first stint in Alaska.
The opportunity to lead development of a large, modern oil project on the scale of Willow, which could produce up to 160,000 barrels per day at its peak, is something he said he finds truly exciting; so is being in a place where there is still plenty of largely unexplored territory.
“In some ways it’s part of the hunt. Part of the excitement you had in the original oil and gas industry is going out there and conducting that exploration activity,” Isaacson, a trained geophysicist, described.
The Colorado native also mentioned several times, unprovoked, that he enjoys winter among the other aspects of the Alaska lifestyle that made him want to eventually return after leaving roughly a decade ago.
“I like the mountains, the skiing. I like the winter and the outdoor pursuits, so as a family, we really enjoyed it here,” Isaacson said.
He hopes his family can spend this summer reacquainting themselves with the once-familiar parts of Alaska and finding new favorites.
“For us it’s just kind of being active up here again,” he added.
On the business side, the rest of the year will be much about restarting after the forced reset of 2020.
Isaacson said he wants to get back to the Slope more frequently as COVID-19 travel and camp space limitations are relaxed to meet more of the people doing the field work and see some of the infrastructure that didn’t exist the last time he worked in Alaska, such as the highly successful CD-5 drill site and the Greater Mooses Tooth projects.
He also wants to “reinforce the safety culture that has made ConocoPhillips so successful in working on the North Slope,” Isaacson said. “That’s one of my key responsibilities when going up to the Slope: engaging with our employees, reinforcing our safety culture, reinforcing the way we work and the way we develop things here in Alaska.”
ConocoPhillips is drilling again at CD-5, development wells are planned at GMT-2, and it is conducting workover operations in the large Kuparuk River field this year.
According to Isaacson, ConocoPhillips and the other working interest owners of Prudhoe Bay have also agreed to restart drilling there later this year.
ConocoPhillips is also continuing engineering and design work on the facilities for Willow while on-the-ground development is paused in the midst of two lawsuits challenging the federal government’s environmental review of the company’s plan for the project. Isaacson reiterated that no major decisions would be made regarding the future of Willow until the lawsuits filed by conservation and Alaska Native organizations are resolved.
The parties have asked federal Alaska District Court Judge Sharon Gleason to expedite the suits so a decision can be reached prior to next winter’s North Slope construction season.
“Barring those legal risks, it’s competitive within our portfolio and we’re doing a lot of work right now, spending a lot of money heading towards getting that engineering done so we can be in a position to make (a final investment decision),” he said of Willow.
Looking out further, he said the State of Alaska must maintain a stable oil and gas fiscal regime to garner investment dollars, particularly as pressure on Arctic developments continue to intensify and even though the state still faces significant annual budget deficits.
“Alaska has a risk premium, so if you think about being attractive for investment you have to consider that sort of risk premium that you’re operating in the Arctic — from a regulatory standpoint — that really underpins the need for an attractive, stable fiscal regime in order to attract that capital investment in the long-term,” Isaacson said.
About this Author
Elwood Brehmer is a reporter for the Alaska Journal of Commerce. Email him: elwood.brehmer@alaskajournal.com
https://www.adn.com/business-economy/energy/2021/05/20/new-president-of-conocophillips-alaska-says-hes-excited-to-return-to-frontier-exploration-after-stint-in-texas/
Newflow, well, I would have to review court transcript but at one time, I thought I heard Alice say the source said, her appeals were holding things up…. Thus, that’s is why I thought in Alice’s filing, when source said “Alice will be surprised,” I took that to mean they will distribute funds before she gets to scotus.. that is why Alice filed with sdny.. so now, based on above,I am wondering if we get held up again..
Nd9
I doubt it but how long will it take for SCOTUS to review her motion and make a decision on hearing the actual case? 1 month, 3 months? I don't know...
Question: If you believe Alice and her source stating there will be a 6/30 distribution, and Alice files motion with SCOTUS before then, will the distribution be on hold, awaiting to see if SCOTUS accepts case?
I thought that is what the "Surprise" was alluding to... that the WMILT was going to distribute funds before Alice could get to SCOTUS...
ND9
From business and marketing perspective, does it make sense to keep Washington mutual name? Wamu just didn’t just file bankruptcy but we’re seized by fdic, with lots of bad publicity.. will be interesting to see if they keep name.
Nd9
Reviewing Some Of Our Small Cap Favorites
Jun. 11, 2021 4:35 PM ET
Reconnaissance Energy Africa has focused on exploring its massive new oil development with 3 new wells.
https://seekingalpha.com/article/4434407-reviewing-some-of-our-small-cap-favorites?li_source=LI&li_medium=liftigniter-widget
Royal Dude, the WMILT stated in their filing to Judge Walrath that they didn't want to respond to the SDNY court summons and start all over again with a new court... So they needed an emergency session with Bankruptcy Court and Judge Walrath, to stop Alice and the SDNY summons.... In the end, what the WMILT wanted, they got....
ND9
Yes, but I meant right now, as of this moment, only 300m common authorized. I wasn’t talking about the future possibilities.,
I thought only 300m shares were authorized.. if so, they can’t issue a billion shares..
Ron_66271, thank you very much for breaking your silence and posting again. It is good to hear your thoughts.
ND9
Wrong, LOL, nice try. That isn't what filing said. Filing didn't say P's weren't Legacy Holders but U's were... You made that up...
The filing stated, "Secondly, there is no such thing as a “Legacy Holder” and Griffin was never in possession of, or entitled to, Liquidating Trust Interests."
What happened to a p is a p? There was to be no difference….
I also don’t think retail will be screwed. That will open up Trust, coop, walrath, wmi, Tepper, hedge funds, etc to massive lawsuits, criminal claims, and more visibility then criminals want…
Jmho
Sure, let’s get another judge and start over…. We can all wait 13 more yrs..
I stated this when Alice filed her first motion.. my concern has always been that she is possibly holding things up… none of us know with 100% certainty if she is.., some say yes, some no…. But if she is holding up the disbursement, then I would rather just have 90% of my money, or whatever the approximate number is, rather than have more delays…. But that is just me.. everybody needs to decide for themselves.
Nd9
If you read the filing, it states the emergency is because the WMILT doesn't want to respond to the Southern District Court of NY... So they would like Judge Walrath, in bankruptcy court, to stop Alice...
Qatar Petroleum CEO warns of dangers of stopping oil & gas investments
June 4, 2021, by Nermina Kulovic
CEO of Qatar’s state-owned oil and gas giant Qatar Petroleum has warned that depriving the oil and gas sector of new investments as the energy transition unfolds could result in big spikes in oil and gas prices in the next few years.
Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs and the President and CEO of Qatar Petroleum, highlighted the importance of the ongoing energy transition and said we all have a responsibility to produce energy in a more environmentally sensitive way.
His remarks came during a session on Energy Transformations held as part of the St. Petersburg International Economic Forum in the Russian Federation with the participation of Alexander Novak, the Deputy Prime Minister of the Russian Federation, and Prince Abdulaziz bin Salman Al Saud, the Minister of Energy of the Kingdom of Saudi Arabia, amongst a panel of energy leaders.
Minister Al-Kaabi said energy transition is very much needed and that the environment is front and centre of the strategies by all companies working in Qatar. However, he warned against being driven by an over-excited euphoria that envisages depriving investment from the oil and gas sector.
Minister Al-Kaabi cited a recent International Energy Agency (IEA) report, which called for stopping investment in oil and gas and said, “When we deprive the oil & gas sector from the additional investment you will have big spikes in oil and gas prices in the next few years which will deprive customers and nations from oil or gas and all the byproducts that come with it. This is a dangerous discussion that will harm humanity and about a billion people around the world, who don’t have electricity today”.
The IEA’s recent report has ruffled quite a few feathers, saying that climate pledges by governments to date – even if fully achieved – would fall well short of what is required to bring global energy-related CO2 emissions to net-zero by 2050 and give the world a chance of limiting the global temperature rise to 1.5 °C.
The roadmap sets out more than 400 milestones to guide the global journey to net-zero by 2050. These include no investment in new fossil fuel supply projects and no further final investment decisions for new unabated coal plants.
Stressing the importance of a responsible discussion about the much-needed energy transition, the Minister of State for Energy Affairs, the President and CEO of Qatar Petroleum, said: “We all have a responsibility to produce in a more environmentally sensitive way. We are using the best available emissions abatement technology, we are monitoring methane emissions to arrest it, and we are using carbon capture and sequestration”.
The St. Petersburg International Economic Forum is an annual business event for the economic sector, which has been held in St. Petersburg in the Russian Federation since 1997. Since 2005, it has been held under the auspices of the Russian President.
https://www.offshore-energy.biz/qatar-petroleum-ceo-warns-of-dangers-of-stopping-oil-gas-investments/
Qatar Chamber holds meeting with Republic of Equatorial Guinea President
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Qatar establishes formal relations with Sao Tome e Principe. Qatar invests $5B in Nigeria. Qatar Petroleum farms into Angola and Namibia. Qatar holds meetings with Equatorial Guinea...
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Qatar Chamber holds meeting with Republic of Equatorial Guinea President
May 31 2021 10:08 PM
The meeting discussed ways of enhancing trade relations between both countries and how to explore investment opportunities available in Equatorial Guinea.
Qatar Chamber and a delegation of its members and Qatari businessmen held a meeting recently with the President of the Republic of Equatorial Guinea Teodoro Obiang Nguema Mbasogo at the Sheraton Grand Doha Resort & Convention Hotel. The meeting discussed ways of enhancing trade relations between both countries and how to explore investment opportunities available in Equatorial Guinea. The meeting was attended by Qatar Chamber first vice chairman Mohamed bin Towar al-Kuwari and second vice chairman Rashid bin Hamad al-Athba, as well as board members Ali bin Abdullatif al-Misnad and Nasser bin Sulaiman al-Haidar, alongside several Qatari businessmen. During the meeting, Mbasogo said his country depends more on oil, and other sectors, such as agriculture could be used for food security projects.
https://www.gulf-times.com/story/692816/Qatar-Chamber-holds-meeting-with-Republic-of-Equat
Actually, if you understand history and what really happened, all 3 are related. In one way or another, all 3 were screwed and or setup to be screwed during the “financial crisis.”
Thank you Mr. Simpson72.