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Petrobras on exploratory blocks in São Tomé and Príncipe-
Rio de Janeiro, December 27, 2023 - Petróleo Brasileiro S.A. - Petrobras informs that the Board of Directors has approved the company's operations in São Tomé and Príncipe, a country on the west coast of Africa, enabling the acquisition of stakes in 3 exploratory blocks, through a competitive process conducted by Shell.
The transaction is part of the scope of the Memorandum of Understanding signed in March 2023 by the CEOs of Petrobras and Shell, Jean-Paul Prates and Wael Sawan, whose objective includes, among others, the identification of business opportunities between the companies in the upstream segment - such as the acquisition in partnership of the 29 exploratory blocks in the Pelotas basin in the 4th Permanent Concession Offer Cycle that took place on 12/13/2023.
Petrobras thus acquired a 45% stake in blocks 10 and 13 and a 25% stake in block 11, with the consortia now composed as follows:
• Block 10: Shell, operator (40%), Petrobras (45%) and ANP-STP (15%)
• Block 11: Shell, operator (40%), Petrobras (25%), Galp (20%) and ANP-STP (15%)
• Block 13: Shell, operator (40%), Petrobras (45%) and ANP-STP (15%)
The operation will mark the resumption of exploratory operations on the African continent with the aim of diversifying the portfolio and is in line with the company's long-term strategy, aimed at rebuilding oil and gas reserves by exploring new frontiers and working in partnership.
The acquisition of the blocks in São Tomé and Príncipe complied with all the company's internal and governance procedures and is in line with its Strategic Plan 2024-2028+ ("SP 2024-28+") and is subject to approval by the local regulatory bodies.
www.petrobras.com.br/ir
https://www.marketscreener.com/quote/stock/PETROBRAS-6496795/news/Petrobras-on-exploratory-blocks-in-Sao-Tome-and-Pr-ncipe-Form-6-K-45641171/
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My understanding after some Googling is that it is a terminology thing.
A trade is labeled as “out of sequence” if the trade is reported late, where “late” is 10 or more seconds after execution. Doesn’t matter that it was only the second trade of a two trade day.
So the question is was this trade purposely reported late by a MM working in cahoots with the mysterious Canadian short sellers? Worth a call to your broker if you’ve got nothing better to do, I guess.
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So is a Total buyout announcement the only catalyst for the Queen to start buying? I ask because, IMO, the odds of that happening are slim to none.
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Post of the year!
The meat of the 8K...
ERHC Energy Inc. (“ERHC” or the “Company”) has issued an international caveat emptor against any attempt to wrongfully alienate (or otherwise divest) the Company’s interests in Block 4 of the Sao Tome and Principe Exclusive Economic Zone and dispatched a notice accordingly to the National Petroleum Agency of Sao Tome & Principe (ANP-STP).
https://www.sec.gov/ix?doc=/Archives/edgar/data/799235/000137647423000512/erhc-20230607.htm
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farrell90, sorry for the delayed response. I was planning to hit you back during Happy Hour last Friday but missed that window of opportunity.
Anyway, since I was not the finder of the link, I don't feel like I should share it directly. However, I recall that you are a good Googler so you should be able to find the info by searching the STP-Press website for recent EEZ (or ZEE in Portuguese) information.
Please let me know that you saw this, and good luck.
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The same, I believe. Unfortunately.
Got it. Thanks.
Will comment back later when I have more time.
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I will confirm that I did receive links from Krom to publicly available news relevant to ERHC that involves the date of November 15, 2023. Whether there will be additional news immediately thereafter and how such news might affect ERHC cannot be confirmed.
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Krom, please DM, if you don’t mind. Maybe the documents will provide clues that will help me find the other document.
Plus, you know I love a good link.
Thanks.
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Looking, as I can, but no luck, yet.
The words “São Tomé” appear twice in the transcript of yesterday’s Galp conference call but the context in which they are used doesn’t make sense. I haven’t had a chance to listen to see if that makes it any clearer. Maybe tomorrow.
https://seekingalpha.com/article/4645169-galp-energia-sgps-s-glpef-q3-2023-earnings-call-transcript
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I think November was a slight misremembrance on somebody’s part. The runout date, as far as anyone knows, is currently September 30, 2024. So eleven months.
Getting sporty!
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=170150974
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Wrong link? The article says nothing about the Gulf of Mexico.
This company was never a scam, IMO. Just an oil exploration company whose partners were never successful in finding oil.
They do still have a chance but time is running out.
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Must be for the Allied Rich purchase.
They are getting really close to maxing out the A/S.
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Hello, Opus. My TDA account is still active as TDA. I have received notification from Schwab to set up my online access, which I have done. I am told my account will formally transfer to Schwab on November 6.
As for ERHC, the recent trading is intriguing. Hopefully, as you say, there is some good news on the way. Can’t come soon enough, as far as I’m concerned.
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I noticed PNs LinkedIn account being back up yesterday, as well. It looks like he didn’t delete it, just suspended it somehow, because all of his previous activity is still there.
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Yes, my TDA account will be moved over to Schwab in a few weeks, as well.
That’s interesting that you were able to buy. I just tried to place an order online and received this message…
“We are not accepting opening orders on Caveat Emptor OTC securities.; No opening transactions are allowed on securities affected by amendments to SEC rule 15c2-11.”
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Hello, farrell. Good to see you.
I thought selling was always allowed through US brokers. It’s the buying side that is prohibited.
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That argument might have more teeth if the same thing hadn’t been said about the JDZ. I’ll believe it when I see it.
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It’s a little disappointing that São Tomé is not attending in an official capacity. More than a year since Jaca-1 and they’ve got nothing to crow about?
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What did we win?
Valaris DS-7 to be reactivated for West African work
Drillship Valaris DS-7 has secured a new assignment for work off West Africa that will see it reactivated from cold stack.
While the operator was not named, it is understood to be Azule Energy for work off Angola. The work scope consists of 12 wells starting in Q2 2024 and running for about 850 days. The total estimated contract value is $364 million. The contract requires minimal customer-specific upgrades to the rig and does not include the provision of any additional services.
Azule also recently commenced a charter with Saipem 12000 off Angola. This assignment runs into Q3 2025.
Valaris DS-7 last worked until Q4 2019 off Egypt for Burullus. It has been stacked off Las Palmas in the Canary Islands and will now be reactivated for this charter. The five-year SPS is also likely to be conducted during the reactivation, as it is due in September 2023. Meanwhile, market sources indicate this rig was also offered to Petrobras on various tenders, including the still unawarded Buzios opportunity.
https://login.esgian.com/articles/valaris-ds-7-to-be-reactivated-for-west-african-work/4051
Competition in the US 5g dongle market? Horizon appears to be an obscure Florida company and details are sketchy (no evidence of FCC or PTRCB certifications, etc) so probably nothing to worry about. Yet.
https://horizonpowered.com/devices/usb-dongle/dg505g/
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What means what?
Thanks. Was just curious.
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Would you happen to know if QT will let you short ERHC?
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Not necessarily. Could still be coming (just very slowly 😉), and I see she has worked with NewEgg before, so…
Are her initials HB? Been waiting on that one since Christmas.
Exactly. Without some context it’s just an interesting number.
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It’s your cat. You decide.
Is that 816 still accurate?
Thanks. I’ve looked but cannot find a requirement to file annually. I don’t believe that requirement exists.
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Link, please, to SC-13G annual filing requirement.
Thanks.
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You are correct, gt. I did not see it yesterday, either, because I did not realize I had been logged out of my LinkedIn account. When I logged back in I could see his entire work history, including at Tri Cascade.
It does say, however, that his work at TC ended in June 2023, so that answers that question.
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Not enough info say one way or the other. The company should clarify but, as facts has pointed out, if he is gone then Max is likely to say nothing.
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Sorry, meant to post this link.
https://bizfileonline.sos.ca.gov/api/report/GetImageByNum/069157139131162037233201251120042029227088196094
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Can't really say he never "worked" for SRMX. Looks like he was a paid consultant acting in the vice president role.
https://bizfileonline.sos.ca.gov/api/report/GetImageByNum/208209076046073146032176148097004031122155254109
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What news? Thanks.