Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
kingpindg, nice work and thanks, p27 of 41 shows STP "oil seeps."
ND9
nwtf, Kosmos Energy wasn't/isn't in JDZ so your comment isn't true.
ND9
I have the presentation and pictures... if I could just figure out how to post them, LOL.
Back in 2017, Kosmos showed STP EEZ "oil seep samples" pictures. It was an investors presentation and Kosmos showed pictures, of containers, filled with oil, from the STP EEZ "oil seeps."
Kosmos also showed a presentation chart of their Equitorial Guinea fields and how they are linked to STP EEZ and these oil seeps.
I don't remember how much oil they projected for STP EEZ Block 6. I want to say 6-700 million barrels but I am not sure, can't remember, and haven't been able to find my files on the projections.
ND9
JACA-1 was spud on April 25, 2022.
ND9
ron_66271, thanks for all your posts and contributions.
Nd9
Mortgage demand drops to a 22-year low as higher interest rates and inflation crush homebuyers
PUBLISHED WED, JUL 20 20227:00 AM EDTUPDATED WED, JUL 20 20228:15 PM
Diana Olick
@IN/DIANAOLICK
https://www.cnbc.com/2022/07/20/mortgage-demand-drops-to-lowest-level-in-22-years.html
Mortgage demand drops to a 22-year low as higher interest rates and inflation crush homebuyers
PUBLISHED WED, JUL 20 2022
7:00 AM EDTUPDATED 26 MIN AGO
https://www.cnbc.com/2022/07/20/mortgage-demand-drops-to-lowest-level-in-22-years.html
Nigeria, Equatorial Guinea In Partnership Talks To Boost Gas Production
by Innocent Odoh
4 hours ago in News
https://leadership.ng/nigeria-equatorial-guinea-in-partnership-talks-to-boost-gas-production/
Home prices falling, mortgage applications slowing, loan rates going up, we're either in a recession or about to enter a recession. Yet you think COOP is going up 50%? Sure, sure. Will never happen unless they announce possession of WAMU assets and they are going to pay for them.
ND9
nwtf, I understand you can sell the shares but can't buy them back. I have known that for a long, long time. I don't want them back and I don't need them back. I have millions of shares of ERHC. So I made a mistake and sold 500,000 shares. Who cares? I don't care. The only reason I even mentioned it was to confirm, what lovemelongtime said was true (i.e., a friend bought 500,000 shares last week). End of story.
ND9
When housing market was on fire, COOP couldn't reach $80. Now, housing market cooling off, interest rates have risen to 6%, we're going into a recession, and you think COOP is now going to hit $80. You are dreaming.
ND9
TDAmeritrade.
I sold 500,000 shares last week. I was setting sell limit orders and made a mistake on one lot. I was surprised to see a message stating that I had a trade confirmation, and that I sold 500,000 shares. It was a mistake but my fault. So I can confirm somebody bought my 500,000 shares last week.
ND9
Oct 18 &19, 2022 - 17th Annual Delaware Trust Conference
The Delaware Bankers Association and The Delaware Financial Education Alliance
Present the 17th Annual Delaware Trust Conference
2022 Delaware
Trust Conference
October 18 & 19
Chase Center on the Riverfront, Wilmington
Located at 815 Justison Street, Wilmington, DE 19801
Dear Wealth Management Professional,
Delaware trusts have long been recognized around the globe as premiere vehicles for wealth management. Thanks to Delaware’s rule of perpetuity and many other flexible laws, they serve their clients generation after generation with products that are solid and dependable.
The seventeenth annual Delaware Trust Conference features a stellar lineup of the nation’s top trust, legal, and wealth management experts. Our speakers will provide the most up-to-date information on maximizing the benefits derived from utilizing Delaware trusts for estate planning. And while many panels are Delaware
specific, this year’s agenda offers a wide array of wealth management information for trust practitioners from across the nation.
Once again we’re pleased to offer a flexible conference experience. For those who enjoy in-person attendance we’re delighted to be back at the spacious Chase Center on the Riverfront. For those who prefer the convenience
of remote viewing this year’s conference will also be available in a high-quality live stream. There will also be a selection of on-demand sessions. And all sessions will be available for credit, on-demand through November
30th.
The Delaware Trust Conference is an ideal opportunity to network while obtaining continuing education credit
for Trust Professionals, Portfolio Managers, Financial Advisors, Attorneys, CPAs, CTFAs, Wealth & Asset
Management Services Executives, Executive Trust Officers, Investment Officers, Investment Managers, and
Trust Department Managers.
Sponsors and exhibitors are encouraged to join the growing list of prestigious firms. For complete information
on sponsorship and exhibitor opportunities, please visit www.debankers.com, or email Corinne Stayton at:
corinne.stayton@debankers.com.
We look forward to seeing you at the 2022 Delaware Trust Conference!
Day 1 - Tuesday - October 18th
Note: All Sessions Are Available for Live Streaming.
On-Demand Sessions will be available through November 30, 2022 for Full Credits!
7:45 - 8:30 a.m. - Registration
8:30 - 10:00 a.m. - Plenary Session 1 (90 minutes) - Group Live
What The Cool Kids Are Doing, Current Trends In Estate Planning – In light of recent
developments, some estate planning strategies have become especially popular. This
presentation explains and evaluates several “hot” planning ideas, including spousal lifetime
access trusts, charitable remainder trusts as beneficiaries of retirement accounts, ultra-longterm GRATs, and incomplete gift nongrantor trusts.
w Samuel A. Donaldson, Professor of Law, Georgia State University
10:00 - 10:20 a.m. - Welcome / Break - Governor’s Hall with Exhibitors
10:20 - 11:20 a.m. - Plenary Session 2 (60 minutes) - Group Live
Crypto and Digital Assets - With almost 20% of Americans holding some crypto currencies and the
federal government getting ready to issue more regulations and adopt legislation about them. This is
a critical asset class for estate planners. This presentation will discuss what they are, how they work
and the best ways to deal with them in estate planning and administration.
w Jonathan Blattmachr, Principal, Pioneer Wealth Partners
11:20 - 11:30 - Break - Governor’s Hall with Exhibitors
11:30 a.m. - 12:30 p.m. - Plenary Session 3 (60 minutes) - Group Live - Ethics
Bending the Arc of History Toward Justice - Terrence Franklin had been a trust and estate
litigator, handling disputes including will contests for a quarter century, when he discovered a will
contest from the 1840s that challenged the will done by his white fourth great-grandfather that
emancipated Terrence’s fourth great-grandmother and her children and grandchildren from slavery.
This discovery led Terrence to share the story of his ancestors and other stories like them. In this
presentation, Terrence recounts the riveting story of his ancestor Lucy Sutton and the fight in
the courts to uphold the last will and testament, and he also profiles several other black women,
contemporaries of Lucy, who just may have helped Lucy and her family make it to freedom.
w Terrence Franklin, Partner, Sacks, Glazier, Franklin & Lodise LLP
12:30 p.m. - 1:30 p.m. - Lunch
1:30 - 3:00 p.m. - Plenary Session 4 (90 minutes) - Group Live
Counseling the Millennial Millionaire - A discussion focusing on the many challenging
estate planning and trust administration issues unique to young, wealthy clients.
w Alexander Lyden-Horn, Managing Director, Director of Delaware Trust Services and
Trust Counsel, Evercore Trust Company, N.A.
w Matthew D’Emilio, Managing Member, McCollom D’Emilio Smith Uebler LLC
w Beth Knight, Director, Richards, Layton & Finger
w Erin Markham, Vice President, Senior Trust Officer,
The Goldman Sachs Trust Company
3:00 - 3:15 p.m. - Break - Governor’s Hall with Exhibitors
- 4 -
3:15 - 4:15 p.m. - Plenary Session 5 (60 minutes) - Group Live
The Modern Directed Trusts: Wait, You Are Directing Me to Do What? - Taking
direction from third party advisors without fiduciary experience/knowledge can provide
some added risk depending on what the trustee is directed to do. This session will
address issues such as non-traditional investments, distribution to individuals who are not
beneficiaries, distributions directly out of an LLC, as well as issues with the attainment of
information needed to perform its duties as directed trustee such as valuations for closely
held entities, tax information, and foreign asset information.
w Isabel Rute Araújo, SVP/Chief Administrative Officer,
Key National Trust Company of Delaware
w Robert W. Eaddy, President, The Bryn Mawr Trust Company of Delaware
w Cynthia D.M. Brown, President, Commonwealth Trust Company
w Thomas M. Forrest, President & CEO, U.S. Trust Company of Delaware
4:15 - 4:30 p.m. - Break - Governor’s Hall with Exhibitors
4:30 - 6:00 p.m. - Plenary Session 6 (90 minutes) - Group Live
Planning With Purpose in Mind - Trusts’ material purposes have traditionally been expressed
implicitly. Longer-lived trust documents such as dynasty trusts, and the dispersion of fiduciary
responsibility among advisors and trustees, heighten the need to express material purposes
explicitly. We will review the history of the material purpose/Claflin doctrine, and consider ways
to express purpose in several areas: discretionary distribution standards, unique assets and
concentrated holdings, and statements of intent.
w R. Hugh Magill, Vice Chairman, Retired, The Northern Trust Company
6:00 - 7:00 p.m. - Reception - Governor’s Hall with Exhibitors
Day 2 - Wednesday - October 19th
7:15 - 8:00 a.m. - Registration
8:00 - 9:30 a.m. - Plenary Session 1 (90 minutes) - Group Live
Review of the Past Year’s Significant, Curious, or Downright Fascinating Fiduciary Cases
- This session will review selected reported fiduciary litigation decisions from 2021 that relate to
multiple areas of estate planning, estate and trust administration, the fiduciary duties of agents,
administrators, trustees, and other fiduciaries, and related trial practice, and identify and discuss
navigating contemporary fiduciary challenges.
w Dana G. Fitzsimons, Jr., Principal, Senior Fiduciary Counsel, Bessemer Trust
9:30 - 9:45 a.m. - Break - Governor’s Hall with Exhibitors
9:45 a.m. - 10:45 p.m. - Plenary Session 2 (60 minutes) - Group Live
Delaware Developments: Improved Statutes! New Cases! – Our panel will
serve as your guides to scale the heights of improved Delaware statutes – and plumb
the depths of the always-intriguing backstories giving rise to new case law addressing
Delaware trusts.
w Jocelyn Margolin Borowsky, Partner, Duane Morris LLP
w Gregory J. Weinig, Partner, Connolly Gallagher LLP
10:45 - 11:00 a.m. - Break - Governor’s Hall with Exhibitors
- 5 -
- 6 -
11:00 - 12:00 p.m. - Plenary Session 3 (60 minutes) - Group Live
Use of Delaware trusts in International/Cross Border Planning -
Delaware trusts help solve some of the most complex international tax and
non-tax planning challenges. This panel will explore applications of Delaware
trust law to facilitate cross-border wealth transfers, inbound U.S. investments,
pre-immigration planning and other problems confronting multi-national
families.
w Scott A. Bowman, Partner, McDermott Will & Emery LLP
w Myriam Soto, Head of International Wealth Planning and Fiduciary Services, BNY Mellon Wealth Management
w Daniel Hayward, Partner, Gordon, Fournaris & Mammarella, P.A.
12:00 - 12:15 p.m. - Break - Governor’s Hall with Exhibitors
12:15 - 1:00 p.m. - Lunch - Governor’s Hall with Exhibitors
1:00 - 2:00 p.m. - Plenary Session 4 (60 minutes) - Group Live - Ethics
Avoiding a Wealth of Trouble - Claims against trust and estate lawyers are on the rise. This
program will address the top claims and ethics issues facing trust and estates lawyers, including
conflicts, joint representations (including family representations), confidentiality, and managing the
representation with good engagement and closing letters.
w Randy Curato, Vice President, Senior Loss Prevention Counsel, ALAS, Inc.
2:00 - 2:15 p.m. - Break - Governor’s Hall with Exhibitors
2:15 - 3:15 p.m. - Plenary Session 5 (60 minutes) - Group Live
Competing with Copy Cats - Why the First State is Still #1 for Personal Trusts - With
favorable trust laws now in many states, why Delaware remains the leader. This session counters
misleading state rankings to show why experience, innovation, and infrastructure put Delaware first.
w Jeffrey C. Wolken, Senior Vice President, Wilmington Trust, N.A.
3:15 - 3:30 p.m. - Break - Governor’s Hall with Exhibitors
3:30 - 4:30 p.m. - Plenary Session 6 (60 minutes) - Group Live
Purpose Trusts - Description TBA.
w Vincent Thomas, Partner, Young Conaway Stargatt & Taylor LLP
w Beth King, President,
Brown Brothers Harriman Trust Company of Delaware, N.A.
4:30 - 4:45 p.m. - Break - Governor’s Hall with Exhibitors
- 7 -
4:45 - 5:45 p.m. - Plenary Session 7 - (60 minutes) - Group Live
Trusts in Motion - This panel will discuss issues around determining trust
governing law for validity, construction and administration, including situs,
choice of law and conflicts of law issues. This will include an update on the
Uniform Law Commission drafting committee on conflicts of law in trusts and
estates acts.
w Todd Flubacher, Partner, Morris Nichols Arsht & Tunnell LLP
w Elizabeth Luk, Head of Delaware Trust, BNY Mellon
w Susan D. Snyder, Trust Counsel and Deputy General Counsel, Northern Trust
On Demand Sessions
On Demand Session 1 - Corporate Transparency Act - 2021 was filled with a significant amount of
legislative activity that impacted the wealth planning and tax practice. The Corporate Transparency
Act represents the most significant reformation of the Bank Secrecy Act and related anti-money
laundering rules since the US PATRIOT Act. All wealth planning and tax practitioners will need
to understand the compliance obligations under the CTA, which is mainly focused on requiring
corporations, limited liability companies, partnerships, and indirectly trusts, to disclose information
on their beneficial owners. The reporting requirements cast a broad net, can be onerous, and are
riddled with exceptions. This panel will cover the history behind the enactment of the CTA, key
provisions under the CTA and recently issued proposed regulations, and practical considerations on
how practitioners can comply with the guidance available to date.
w Glenn G. Fox, Partner, Tax/Wealth Management, Baker & McKenzie LLP
On Demand Session 2 - Case Studies: Discretionary Distributions - Making discretionary
distributions is a fundamental responsibility of a trustee. Multiple case studies
will illustrate how trustees balance between competing interests when exercising
discretion.
w Cody Snyder, Vice President, Senior Fiduciary Officer,
The Bryn Mawr Trust Company of Delaware
w Timothy S. Egan, Managing Director, Wealth Advisory,
The Glenmede Trust Company, N.A.
On Demand Session 3 - Onboarding Trust Case Studies: Tips for Resolving Natural Tension
Between Business Development and Trust Administration -
This Case Study will address the age-old dispute between Business Development
and Trust Administration/Group Management. Topics will include: Acceptance of
Non-Traditional Assets, High-Risk Clients, Non-US Clients, Time-Sensitive Matters
and More!
w Todd Hammond, CTFA, TEP, Vice President, National Trust Business
Development Officer, Bryn Mawr Trust Co. of DE, Bryn Mawr Trust
w Wendy Zimmer Cox, J.D., CTFA, Senior Vice-President Fiduciary Officer,
Director of Personal Trust, Greenleaf Trust
https://www.debankers.com/assets/2022_DE_Trust_Conference_Agenda.pdf
lodas, is that the best you've got? Seriously? Even if Posner knew something, he couldn't say anything. That would be considered as insider trading. That is, Posner giving out confidential info to 1 shareholder and not thousands of others. Geeez. You are really grasping at straws. You should just give it up and go do something else for a living. You're not credible in your present job.
ND9
Sao Tome and Gulf of Guinea security articles:
1.) US wants to strengthen partnership with Sao Tome and Principe on maritime security
12/07/2022 (i.e., July 12)
https://www.plataformamedia.com/en/2022/07/12/us-wants-to-strengthen-partnership-with-sao-tome-and-principe-on-maritime-security/
2.) US Navy ESB Completes Gulf Of Guinea Maritime Security Patrol
April 18, 2022.
https://www.navalnews.com/naval-news/2022/04/us-navy-esb-completes-gulf-of-guinea-maritime-security-patrol/
3.) Nigerian Navy takes giant strides in Gulf of Guinea security
NEW AFRICAN
14/03/2022
https://newafricanmagazine.com/27912/
4.) NIGERIA AND SHIPPING INDUSTRY LAUNCH STRATEGY TO ELIMINATE PIRACY THREAT IN GULF OF GUINEA
11 July 2022, London/Abuja
https://www.bimco.org/news/priority-news/20220711-gulf-of-guinea-press-release
5.) UN Security Council Calls for Renewed Focus on Gulf of Guinea Piracy
PUBLISHED JUN 3, 2022 6:05 PM BY THE MARITIME EXECUTIVE
https://maritime-executive.com/article/un-security-council-calls-for-renewed-focus-on-gulf-of-guinea-piracy
Shell committed to making Nigeria a gas hub
***********
Old article but still interesting, especially when consider JDZ and EEZ
ND9
****************************
Shell committed to making Nigeria a gas hub – Igo Weli
11th October 2021
in Business, National
The Shell Petroleum Development Company of Nigeria (SPDC) has reinforced its position to transform Nigeria into a gas hub within the Gulf of Guinea in line with the Energy Transition sweeping across the globe.
Consequently, the company disclosed that it has keyed into the country’s Natural Gas Expansion Programme introduced in the year 2020 envisioned to make the country utilise its vast gas resources effectively.
The Country Head, Corporate Relations, SPDC, Mr Igo Weli, who disclosed this at the weekend in his remarks at the 7th annual public lecture of the Federated Correspondents’ Chapel of Nigeria Union of Journalists, (NUJ), Bayelsa State Council, which took place at the Matho Crystal Hotel, Yenagoa, said Shell is committed to the project.
Weli noted that Shell in Nigeria is also working with the Federal Government of Nigeria to build a network of gas plants and pipelines to help bring power to the country’s growing industrial and commercial sectors.
‘This infrastructure will also increase the export of liquefied natural gas (LNG) to meet global demands for power and heating.
‘In Bayelsa State, Shell Nigeria Gas signed an agreement with the Nigerian Content Development and Monitoring Board, (NCDMB) to provide gas infrastructure to the NCDMB industrial gas park in Polaku. NCDMB estimates the park could generate over 30,000 local employment opportunities.
‘As the only wholly-owned Nigerian subsidiary of an international oil company in domestic gas distribution, (Shell Nigeria Gas), SNG, is a symbol of Royal Dutch Shell’s commitment to clean, sustainable energy access and security in Nigeria and across the globe,’ Weli stated.
Represented at the occasion by the SPDC’s Government Relations Adviser, Bayelsa, Chief Owei Bubo, Weli stressed that the Assa North/Ohaji South Gas Development Project in Imo State is expected to be one of the largest gas facilities in Nigeria, as well as others located at Lagos, Oyo, Ogun, Abia and Rivers States are examples of Shell’s long term commitment to Nigeria.
Weli seized the opportunity of the event to implore traders and businesses that had traditionally used petrol and diesel generators to power their light and equipment, to now have Shell Nigeria Gas Limited supply natural gas to Independent Power Project (IPP) consortium that provides electricity to the areas.
He also urged journalists to justify the trust reposed in them by the public by religiously sticking to the ethical standards of the journalism profession in their reportage.
https://www.sunnewsonline.com/shell-committed-to-making-nigeria-a-gas-hub-igo-weli/
Depositary Fees Notification
Security: Global Ports Investments
CUSIP#: 37951Q103
JPMorgan Chase Bank, N.A
Lodas, that's a bunch of crap. They aren't going to tell one shareholder the real truth while thousands of other hear nothing. Companies can't do that. That is illegal... Geeeez.
ND9
After almost 14 years of secrecy, did you really think that you could just call, and he would give you the real story? Seriously?
Christiana Bank & Trust Company
https://delawarecounselgroup.com/representative-clients/
Pooling and Servicing Agreement by and among WaMu Asset Acceptance Corp., as Depositor, Washington Mutual Bank, as Servicer, LaSalle Bank National Association, as Trustee, and Christiana Bank & Trust Company, as Delaware Trustee, dated as of June 1, 2006.
P-3 C aircraft of the Portuguese Air Force begins cooperation mission with STP
By Non-screen posted on July 14, 2022
A P-3 C aircraft, from the Portuguese Air Force, with 37 military personnel, landed on July 11 of this year, in Sao Tome and Principe, with the objective of performing air missions within the scope of Bilateral Cooperation with Sao Tome and Principe. of the "AMLEP - Africa Maritime Law Enforcement Partnership ", contributing to the inspection of the Exclusive Economic Zone of this country, within the scope of the cooperation agreement between the Portuguese Republic and the Democratic Republic of Sao Tome and Principe in the field of inspection of maritime spaces under sovereignty or jurisdiction of the Democratic Republic of Sao Tome and Principe.
This mission, with a maximum of 70 hours of flight time, of which 27 will be carried out in Sao Tome and Principe, aims to contribute to the international effort in terms of maritime security in the Gulf of Guinea.
The detachment will operate from Nuno Xavier Airport, in Sao Tome and Principe, until July 21 of this year, and after that date, it will operate from Praia International Airport – Nelson Mandela, in Cabo. Verde, until August 1st, when he will return to Air Base N° 11, in Beja, Portugal.
Source - Defense Attaché of the Portuguese Embassy in STP
https://www-telanon-info.translate.goog/destaques/2022/07/14/37847/aeronave-p-3-c-da-forca-aerea-inicia-missao-de-cooperacao-com-sao-tome-e-principe/?_x_tr_sl=pt&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc
Large Green, I signed and I think over the last 14 yrs, the field has been plowed, seeds planted, and field watered. Now let’s grow some cotton! Lol.
Nd9
It would be the largest take over and or merger in history. Nobody has ever paid that much for a takeover and or merger, never.
ND9
Tiny Houston firm strikes gold in huge oil deal
**************************
Opus, I've been invested in this company since I saw 2005 article below. :>) Long, long, long, long time ago :>)
ND9
**************************
Tiny Houston firm strikes gold in huge oil deal
Tiny player strikes gold in huge oil deal
African nation promises local ERHC Energy a share of profits
DAVID IVANOVICH
Copyright 2005 Houston Chronicle Washington Bureau
March 13, 2005
The impoverished West African nation of São Tomé and Príncipe may soon become the world's newest oil exporter, and its leaders have entrusted the country's great hopes to an obscure Houston company.
The winner of this prize: ERHC Energy, which has one full-time employee, $20,272 in cash at the Sept. 30 end of its 2004 fiscal year ($915,330 as of Dec. 31) and no experience drilling offshore.
This little-known company, based in a Westheimer office building, has been promised a share in a potential crude bonanza in the Gulf of Guinea.
São Tomé and neighboring Nigeria have been evaluating bids from oil companies wanting to drill in waters that are believed to hide more than 11 billion barrels of crude.
Five offshore blocks in a joint development zone are up for grabs. Little ERHC has been guaranteed a cut in each one.
"I've never heard of anything like it, anywhere in the world" — at least not since Africa's colonial days, said Jedrzej George Frynas, a lecturer in international management at England's University of Birmingham.
Exxon Mobil Corp. has been granted rights to claim a stake in two of these blocks. The oil industry is watching to see whether the world's largest publicly traded company will jump in with this strange bedfellow.
ERHC's aggressive, penny-stock investors are all but salivating at the prospects.
On Web sites such as www.ragingbull.com or Bradenton, Fla., investor Joe Shea's weblog, erhc.blogspot.com, they trade tips and rumors as they await word that the blocks have been awarded.
"I'm a little disappointed that I'm not already a millionaire," Shea said.
https://www.chron.com/business/energy/article/Tiny-Houston-firm-strikes-gold-in-huge-oil-deal-1934213.php
That doesn't make sense on why they would do that. I don't get it. So what were the releases for, to get shares? Then why not give shares to all? If you believe all shareholders are going to get paid, then why not give shares to all previously? Why only those that signed releases?
ND9
SSC, it means:
(1.) until you actually drill a well and examine the results, you just never know if there is oil or not.
(2.) These things take time.
However, I still believe there is oil in Block 6 and even more in Block 4 and 5.
JMHO
ND9
Here's an example of Shell spudding Edinburgh well on March 15, 2022, then no news for last 4 months, until just recently, a couple of days ago, announcing it was dry and they are going to plug and abandon. So the point being, of course, these things take time.
ND9
*************
Shell to plug hotly awaited Edinburgh well after it comes up dry
A North Sea exploration well, previously tipped as one to watch, is to be plugged and abandoned (P&A) after coming up dry.
By Hamish Penman
08/07/2022, 9:15 am
https://www.energyvoice.com/oilandgas/north-sea/exploration-production/426070/shell-to-plug-hotly-awaited-edinburgh-well-after-it-comes-up-dry/
They must have had technical issues, or decided to drill deeper, and or perform a bunch of testing (or even a second well like Krombacher surmised). Or maybe all of the above.
I doubt that drillship is just sitting there waiting for some deal for Block 4 to be finalized. Or for Shell to coordinate with GALP, the STP, etc, etc. Drillships, personnel, support ships, helicopters, satellites, supplies, etc, gets expensive. Time is money. Rather than sitting off STP coast, the Voyager could be on way to another STP block, Suriname, Namibia, etc..... There must be another reason they are there for ~ 75 days.
JMHO
ND9
I like when Africans and or African operating companies are pushing back and telling the West to backoff. That is, what right do Westerners have to tell Africa to go green and not drill for oil. Africa still has lots of oil as Peter stated. The West has become rich off oil and yet now, they don't want Africa to have their own oil. Recently, one of the Namibian Energy Ministers was pushing back and saying something similar. I like it.
ND9
AZCowboy, I guess the part I struggle with is this... You just said they owe us the interest.... However, previously, you've implied that not all of the WMIH Preferred Managing Sub money is still there. Isn't that a contradiction? If they owe us the interest, then doesn't the WMIH Preferred Managing Sub money have to be there? I own a lot of WAMPQ and thus, very interested.
Thanks for all your thoughts, research, and sharing with the rest of us.
ND9
kingpindg, thanks, I missed that one. I saw the one where you said you thought Kosmos was still in the way.
ND9
7/7/2022 - Notice of Termination of Receiverships
Notice of Termination of Receiverships
A Notice by the Federal Deposit Insurance Corporation on 07/07/2022
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
10156 Greater Atlantic Bank Reston VA 07/01/2022
10219 Broadway Bank Chicago IL 07/01/2022
10229 Eurobank San Juan PR 07/01/2022
10232 1st Pacific Bank of California San Diego CA 07/01/2022
10250 Nevada Security Bank Reno NV 07/01/2022
10254 USA BankPort Chester NY 07/01/2022
10263 First National Bank of the South Spartanburg SC 07/01/2022
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 July 1, 2022.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2022-14449 Filed 7-6-22; 8:45 am]
BILLING CODE 6714-01-P
https://www.federalregister.gov/documents/2022/07/07/2022-14449/notice-of-termination-of-receiverships
7/7/2022 - Notice of Termination of Receiverships
Notice of Termination of Receiverships
A Notice by the Federal Deposit Insurance Corporation on 07/07/2022
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
10156 Greater Atlantic Bank Reston VA 07/01/2022
10219 Broadway Bank Chicago IL 07/01/2022
10229 Eurobank San Juan PR 07/01/2022
10232 1st Pacific Bank of California San Diego CA 07/01/2022
10250 Nevada Security Bank Reno NV 07/01/2022
10254 USA BankPort Chester NY 07/01/2022
10263 First National Bank of the South Spartanburg SC 07/01/2022
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 July 1, 2022.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2022-14449 Filed 7-6-22; 8:45 am]
BILLING CODE 6714-01-P
https://www.federalregister.gov/documents/2022/07/07/2022-14449/notice-of-termination-of-receiverships
kingpindg/Opus X, I found one reference to Kosmos & STP EEZ Block 4.
This is from the Kosmos Feb 2022 SEC filing. They list their subsidiaries at end of filing. They do have a subsidiary called Kosmos Energy STP Block 4. See below.
I must admit I was a little surprised. I must have missed this before and don't recall any filings or Kosmos presentations with Block 4 listed. However, I realize, this is just a subsidiary, and one of many Kosmos has.
ND9
********************************************
List of Subsidiaries
Subsidiary Jurisdiction of Incorporation
Kosmos Energy Sao Tome and Principe Block 4 Cayman Islands
https://investors.kosmosenergy.com/static-files/a3a6902b-a52c-44bb-85bf-de23584a252a
Three of Einstein's 100-year-old Scientific Theories Have Been Proven Right in Recent Weeks
BY ARISTOS GEORGIOU ON 7/18/18 AT 7:26 AM EDT
https://www.newsweek.com/three-einsteins-100-year-old-scientific-theories-have-been-proven-right-weeks-1029558
Charles Darwin’s 165-year-old “wind hypothesis” finally proven true
Darwin was right again—sort of.
LIFE — JANUARY 22, 2021
https://bigthink.com/life/darwin-wind-hypothesis/
Nigeria Will Commence Massive Export Of Gas To Portugal In Five Years, Kyari Tells Buhari, Portuguese President, Other Investors
OIL & GAS
By Ifeanyi Onuba And Kasarahchi Aniagolu On Jun 30, 2022
The Group Managing Director of the Nigerian National Petroleum Company Ltd, Mele Kyari on Thursday said that Nigeria will in the next five years begin the massive exports of Liquified Natural Gas to Portugal and other European countries.
Kyari said this when President Muhammadu Buhari and the President of Portugal, Marcelo Sousa led other top officials of both countries to a visit to the NNPC exhibition centre.
The visit was made at the sidelines of Nigeria-Portugal Business Forum which is being organized as part of measures to unlock fresh investments in critical sectors of the Nigerian economy.
Some of the sectors being targeted by the government are oil and gas, agro business, information and communication technology, manufacturing and processing, renewable, pharmaceuticals and construction.
The event is also being attended by the Minister of Industry, Trade and Investment, Niyi Adebayo; Nigeria’s Ambassador to Portugal, Alex Kefas; the Group General Manager NAPIMS Bala Wunti, the Executive Secretary of the Nigerian Investment Promotion Commission Emeka Offor.
Nigeria is pursuing energy transition in order to promote economic growth and is gradually investing in gas so as to reduce carbon emissions whilst continuing to exploit hydrocarbon resources. Currently, natural gas is the energy transition fuel for Nigeria.
Nigeria is currently having six quadrillion BTU of energy production annually making it the second highest in Africa.
The country also has a geographical vintage position with easy access to the Atlantic, Pacific and Indian Ocean giving it unhindered access to the most critical global trade routes and markets.
Kyari told both Presidents that Nigeria is part of the sovereignty of energy security in Portugal, adding that as a matter of fact, the country is insulated from the current energy challenges in Europe because of the quantum of gas supply that is coming from Nigeria.
He said, “Nigeria provides 70 per cent of Liquified Natural Gas to Portugal, we are part of the sovereignty of energy security in Portugal and as a matter of fact, the country is insulated from it in Europe because of the supply that is coming from Nigeria.
“We are working to put extensive infrastructure on ground to ensure more supply to Europe and we are working with the European Union. We are on the Moroccan pipeline to ensure that we export to Europe and to ensure that in a very short time in no more than five years we will see massive of LNG supply from Nigeria into Portugal.”
Shortly before the exhibition, Kyari had told investors and other participants at the event that NNPC is the best partner for them to do business with in the oil and gas sector.
“We are the best partners you can find, NNPC is the largest capitalized company in Africa, we also supply 70 per cent of LNG into Portugal. And that’s why we are practically isolated from the crisis of Ukraine today because their supply is coming from Nigeria.
“And there’s absolute opportunities today for us to grow this supply by working with us. We are putting up mass infrastructure in our country to ensure that gas is made available into our domestic market and also increase supply into the international market.”
The NNPC GMD commended the Portuguese government for doing business with Nigeria and expressed optimism that the visit of President Buhari to Portugal will unlock more business opportunities for both countries.
The NNPC GMD said that Nigeria has earned over $1bn from Portugal through the sale of gas between January and June this year.
“We are happy and thank you very much for doing business. This year alone we have sold over a billion dollars worth of Natural gas into Portugal. So, you are our biggest partner around here and we are happy to work with you, our country is changing, our company is changing, we have a perfect environment today in our country.
“For doing business with us, there’s lot of opportunities put up in infrastructure. I’m sure that our partners here will appreciate that Nigeria is the place to be. We will be the partner that will supply energy to the world, we will work with you.
Offor while speaking at investment opportunities in Nigeria told participants that each of the 36 states in Nigeria has at least 10 sectors where they have competitive advantage.
The NIPC Boss said, “Nigeria presents tremendous opportunity. Nigeria is a federation that is made up of 36 states including the Federal Capital Territory. If you look at Nigeria in that context, you’ll realize that each of the states in Nigeria has at least 10 opportunities.
“So, the investors coming from Portugal or elsewhere will need to see those opportunities in Nigeria and take advantage of those opportunities.
“Our Minister of Trade has already said that if you are doing business in Africa and you’re not in Nigeria, it could rightly be said that you have not started business in Africa.”
He also said that the population of Nigeria which is over 200 million has provided huge market for investors to sell their products.
“If you look at the population in Nigeria in terms of population, look at the states you’ll see clearly that states like Kano, Lagos in terms of the population they are bigger or larger than certain countries across the globe, like Zimbabwe, Israel.
“If you also look at Nigeria from the context of its large size, you will realize that Borno state and Niger state have a larger land mass than certain countries the globe, like Island, Indonesia.
“And if you look also even at the smallest state in terms of large size as Lagos state, you will realize that Lagos is larger than a reasonable number of countries. And if you look at state with the smallest population which is Bayelsa state you will also realize that Bayelsa is larger than countries like Namibia.
“So, you can see the context of these golden opportunities in Nigeria because each of these states can stand on its own in terms of economic activities, in terms of population, in terms of land size and so you see the slope of opportunities in Nigeria is large.”
https://thewhistler.ng/nigeria-will-commence-massive-export-of-gas-to-portugal-in-five-years-kyari-tells-buhari-portuguese-president-other-investors/
NNPC In Talks With Portuguese GALP Energia To Invest In Nigeria’s Energy Sector
OIL & GAS
By Ifeanyi Onuba On Jul 1, 2022
The Nigerian National Petroluem Company Ltd, the Nigerian Liquefied Natural Gas Ltd and GALP Energia of Portugal have commenced talks for the Portuguese firm to invest in Nigeria’s energy sector.
This partnership is one of the gains recorded Nigeria-Portugal Business Forum which is being organized as part of measures to unlock fresh investments in critical sectors of the Nigerian economy
The event was attended by President Muhammadu Buhari; the President of Portugal, Marcelo Sousa; the Minister of Industry, Trade and Investment, Niyi Adebayo; the Group Managing Director of NNPC Ltd Mele Kyari; Nigeria’s Ambassador to Portugal, Alex Kefas; the Group General Manager NAPIMS Bala Wunti; and the Executive Secretary of the Nigerian Investment Promotion Commission Emeka Offor among others
The NNPC said that through the collaboration, the three companies have been able to restate their determination to increase supplies to Portugal and other European nations.
Nigeria currently provides 70 per cent of Liquefied Natural Gas to Portugal and its part of the sovereignty of energy security in Portugal.
RELATED
OIL & GAS
NNPC Releases Additional 464.4 Million Litres Of PMS To Reduce Fuel Queues
Jun 7, 2022
OIL & GAS
NNPC GMD Urges More Oil & Gas Firms To Invest In Gas Transportation Network
May 25, 2022
Portugal is currently insulated from the Russian-Ukraine crisis in Europe because of the supply of gas that the country gets from Nigeria.
Between January and June this year, the NNPC earned over $1bn from gas exports to Portugal, according to the
The NNPC said, “NNPCLimited, GALP Energia and @nigeriaLNG all reiterated their determination to increase supplies to Portugal and other European nations, while engaging further to facilitate investments by GALP Energia in Nigeria.”
Galp Energia is a multinational energy corporation, headquartered in Lisbon, Portugal and consists of more than 100 companies engaged in every aspect of the oil and natural gas supply, hydrocarbon exploration and production; refining, trading, logistics and retailing; co-generation and renewable energy.
It was founded in 1999 through the merger of Petrogal, Gás de Portugal and Transgás.
It is organized into four business units, which include, Upstream, Refining and Midstream, Commercial, Renewables, New Businesses.
https://thewhistler.ng/nnpc-in-talks-with-portuguese-galp-energia-to-invest-in-nigerias-energy-sector/
U.S.-dollar Libor transition enters critical phase for leveraged loan market
By John Mccrank
June 30, 2022
3:39 PM CDT
Last Updated 3 days ago
NEW YORK, June 30 (Reuters) - The one-year countdown began on Thursday to the end of the publication of the tarnished London Interbank Offer Rate, or Libor, for existing U.S. dollar-denominated contracts, and volatile market conditions have delayed the switch to new rates for some market participants.
"We have 12 months until D-Day from a legacy paper perspective," said Tal Reback, who leads KKR's global Libor transition effort across private equity, credit, capital markets and real estate. "The next six to nine months are really the critical range because you alreadylost a few months due to market volatility this year," she said.
In the leveraged loan market, unsettled market conditions have prevented many issuers from tapping the markets, which is when they would normally revisit existing debt and potentially convert it to another interest rate benchmark, slowing the transition, Reback said.
According to JPMorgan and IHS Markit, 87.8% of leveraged loans are still linked to Libor.
Once dubbed the world's most important number, Libor has been used globally to price everything from mortgages and student loans, to derivatives and credit cards, worth hundreds of trillions of dollars. read more
Regulators mandated Libor's end after fining banks billions for rigging the rate, and have recommended market participants use alternatives compiled by central banks, such as the Federal Reserve's secured overnight financing rate (SOFR). read more
Calculated in five currencies, Libor was largely phased out for new contracts at the end of 2021, though the bulk of existing U.S. dollar-denominated contracts have until June 30, 2023 to make the switch.
https://www.reuters.com/markets/europe/us-dollar-libor-transition-enters-critical-phase-leveraged-loan-market-2022-06-30/