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http://www.aa.com.tr/en/news/315739--official-northern-iraq-oil-to-flow-through-turkey
Regarding at4 i would say it means that they will suspend it until production facilities are in place and connected to the well.
Can't be long now.
Seven days, tops.
Exiting times, results should be a big surprise I think.
Easter Egg
glta
SHAMARAN ATRUSH UNDERPRICED, POSSIBLE ACQUISITION TARGETS-PARETO (Direct) 2014-03-28 10: 19 STOCKHOLM (Direct) Oil exploration company Shamarans only asset, the Kurdish Atrushfield in which the company owns a fifth, is undervalued by the market.
The mean Pareto Securities in today's buying analysis with price target 3: 70 SEK.
The Investment Bank said that field as it looks today, and in the light of what is expected to be in production by early next year, should be valued at 3: 20 kronor per share.
The analysis also points out that Shamaran course developmentally has gone worse than their analogue counterparts in the region such as the Norwegian DNO and the British-Turkish Genel Energy in the past year.
However, all signs suggest that the development of Atrush field follows the established plan involve a revaluation of Shamaran, according to Pareto.
In addition, Lundin-sphere's company a possible acquisition targets for larger oil companies who want to enter the coveted Kurdish region.
Regarding the political situation in the area, choose the Bank to have a light approach, where an agreement between the two antagonists-the Kurdish regional government, KRG and central Government in Baghdad – can be reached within the next few months, i.e. before the expected start of production of Atrush field.
At 10.15 pm on Friday traded Shamaran share to 2: 64 kronor, an increase of nearly 3 percent for the day. Henrik Svensson + 46 8 5191 7924 The News Agency Directly
https://www.avanza.se/placera/telegram/2014/03/28/shamaran-atrush-undervarderat-mojligt-forvarvsobjekt-pareto.html
New target price 0,63 CAD Buy
SHAMARAN PARETO RESUMES COVERAGE with the PURCHASE, PRICE TARGET 3: 70 KR (direct) 2014-03-28 09: 07 STOCKHOLM
Pareto Securities resumes coverage of Shamaran with buy recommendation.
The target price is written to 3:70 SEK.
It is clear from the current analysis.
Henrik Svensson + 46 8 5191 7924 The News Agency Directly
https://www.avanza.se/placera/telegram/2014/03/28/shamaranpareto-aterupptar-bevakning-med-kop-riktkurs-370-kr.html
Your welcome
I've heard of a second rig soon beeing brought in, they will retest at3, probably with esp this time considering the drop in recovery factor.
At3 raised P90 and P50 with 30%..
Now bring on the at4 surprise ;)
Long SNM
New presentation out
Yummie :)
http://www.shamaranpetroleum.com/i/pdf/2014-03_SNMCP.pdf
We should also get the full prospective report soon, they have probably collected data from at4 to use in that one
Also on page 11 they say that the main fault between hangingwall and footwall is sealing,thats news to me! Pradeep told me last may that they thought it was non sealing
Complicated report.. Hope the markets gets it
Hmm
At4 is special as i said.. Drilled with a 50 degree angle thru the reservoir.
I think that the 3rd party is very conservative and the P numbers are only for the phase 1 area
According to TAQA they expect well over 1 billion barrels recoverable from atrush
120k per day for 35 years...
http://www.pipelineme.com/features/interviews/2014/01/exclusive-interview-taqas-iraq-country-boss/
Who sells out now?
Year end report tomorrow, the MD&A usually holds some intresting info.
I think they will turn up the pace in Atrush soon.
Then you have the resource report where we probably will book our first real reserves and then the prospective resource report should be real intresting.
Holding.
AT4 will be an easter egg...
I wouldnt call it just a production well...
Holding
Cheers
UPDATE 1-Top Iraq energy official says Kurds agree to export crude via SOMO
Wed Feb 19, 2014 2:46pm EST
(Adds quote, context)
BAGHDAD, Feb 19 (Reuters) - Iraqi Kurdistan has agreed to export crude via the country's main oil marketing body, Deputy Prime Minister for energy Hussain al-Shahristani said on Wednesday, potentially removing a major sticking point in a row with the central government.
The autonomous region's prime minister and top energy official travelled to Baghdad on Monday, intensifying efforts to settle the dispute over exports of oil from Kurdistan via a new independent pipeline to Turkey.
The region had previously insisted it would export crude on its own terms, bypassing Iraq's State Oil Marketing Organisation (SOMO).
"After hours of meetings, we have agreed that our brothers in the region will be represented in SOMO and agreed that this is the sole national outlet responsible for exporting oil," Shahristani said in an interview on Iraqi state television late on Wednesday. "This is an important step forward".
Baghdad has repeatedly threatened to sue Ankara and slash the Kurdistan's share of the national budget if exports go ahead through the pipeline without its consent.
The pipeline was completed late last year, and oil has since been pumped through it into storage tanks at Turkey's Ceyhan, but exports from the Mediterranean port are on hold to give diplomacy a chance.
Negotiations have carried on for months with little progress. (Reporting by Ahmed Rasheed; Writing by Isabel Coles; Eiting by David Evans and Alison Williams)
http://mobile.reuters.com/article/idUSL6N0LO4Q420140219?feedType=RSS&irpc=22
A must read for investors.
Bagdad says all contracts are illegal, 50 oil companies and Turkey have read the constitution and come up with the opposite.
Now Bagdad says, ok! You must export 400k barrels per day.. Haha
Oil Games in Baghdad
By DAVID ROMANO 3 hours ago
This week the Council of Minister in Baghdad passed a new 2014 budget, despite the walkout of Kurdish members of the government and the absence of Sunnis. Although the budget still needs to be voted on by the Iraqi Parliament, which is on recess for ten days, its proposals represent a slap in the face of Kurdistan. The budget’s provisions declare that if Kurdistan does not export 400,000 barrels of oil per day (bpd) through the central government controlled pipeline network, it will not receive its share of the national budget. The budget also fails to mention anything about payments for oil companies operating in Kurdistan, even if Kurdistan does pump 400,000 bpd into the national pipeline network, or anything about the promised reparations to Kurdistan for actions of previous regimes (as stipulated in Article 112 of the Constitution). The budget even fails to provide governorates their $5 fee per barrel of oil produced from their territory, as stipulated in last Spring’s amended Provincial Powers law, instead promising them only $1 per barrel.
This occurs in the context of an increasingly independent hydrocrabons industry in Kurdistan, as I discussed in previous columns and Rudaw reports on regularly. Even governorates like Nineveh, Wasit and Basra have been pursuing a more and more “Kurdish style” independent hydrocarbons policy lately, meeting on their own with oil companies to talk about exploration in new fields.
Article 111 of the Constitution of course stipulates that Iraq’s oil and gas belongs to all Iraqis, and Kurdistan and governorate leaders have always accepted that oil revenues should therefore be distributed proportionately throughout the country, no matter where the oil is actually extracted from. For the Kurds, that means the agreed upon formula of 17% of revenues. So contrary to what we often heard in the media, no one was ever talking about the Kurds and the Shiites in Basra making off with all the oil revenues and leaving Sunnis to eat sand in Anbar. In Article 112, the Constitution also stipulates that the central government and regions and governorates need only work together (together, not Baghdad by itself) on oil extracted from “present fields,” leaving future fields to regional and governorate control. Kurdistan is willing to remit its oil money to Baghdad, but given past central government failures to pay Erbil all it is due, wants to deduct its expenses, some reparations (within limits) and if necessary, its 17% first. The Kurds also insist on controlling their own newly discovered fields and oil contracts.
In his 2009 book on Iraq, Brendan O’Leary explains that “Iraq’s present fields have long lives ahead of them. As and when regions other than Kurdistan develop, there will be a corresponding reduction in the necessary revenues for the federal government to execute its functions, especially if the regions exercise their constitutional right to monopolize internal security.” During this time, new fields will be explored, discovered and brought on-line by Kurdistan, the governorates and future regions of Iraq, increasing their independence from Baghdad. Therefore, O’Leary says, “The Constitution spells the death warrant of a highly centralized Iraq, but it delays the execution–to enable the regions and provinces to grow.” This is as it should be, in order prevent the re-emergence of authoritarianism in Baghdad and to allow the different nations, communal groups, religious communities and regional identities in Iraq the space to live with each other.
Yet the usual suspects in the media, American think tanks and the academic community will no doubt cast the latest events as a bold effort by Prime Minister Maliki to keep Iraq together. “If Kurdistan gets to export its own oil,” they will say, “then every governorate will want to do the same.” Exactly – this is the point of federalism and decentralization, which is what more than 78% of Iraqis voted for in the Constitutional referendum of 2005.
The Maliki government’s actions actually represent the best way to break Iraq apart. Although I believe Mr. Maliki is presently engaged more in a bargaining attempt than a serious effort to form a budget for 2014, the threat this year is the most significant salvo yet against the Kurds. Baghdad’s previous threats to blacklist oil companies signing contracts with Kurdistan or sue them proved hollow. Last time I checked, Exxon signed a deal with Kurdistan and still has its stake in southern oil fields, while Genel Energy, DNO and Keystone’s lawyers sit idle and have no legal issues to deal with from Baghdad. Maliki government officials actually had to practically beg Exxon to stay in southern Iraq and not sell off all of its stake in the fields there, as Exxon apparently wanted nothing more to do with the Iraqi Oil Ministry in Baghdad.
Kurdistan’s 17% share of the Iraqi national budget equals about 300,000 bpd of oil exported per year, a capacity which the Kurds should have within a month or so. Given the threat from Baghdad, what if the Kurds managed to up their production to the requested 400,000 bpd by the end of 2014? Estimates are that Kurdistan could manage 1 million bdp by 2016. That’s a lot more than they would get from their share of the national budget, even if Baghdad did not engage in accounting shenanigans for its own expenses and remit a good deal less than 17% to Erbil, as it has in the past. Might the Kurds be tempted to just say “Keep your budget, and keep your state for that matter – we’re leaving and we are taking the ‘disputed territories’ we already control with us.” Today’s government in Turkey looks like it just might accept this kind of thing as well, especially given all the cheap oil and gas it would get in the process.
Given the situation in places like Falujah and Ramadi, this kind of response from the Kurds at this time would be much worse news for Baghdad than for Erbil. Which is why I don’t think it will come to this. Mr. Maliki and his ministers are bluffing.
David Romano has been a Rudaw columnist since August 2010. He is the Thomas G. Strong Professor of Middle East Politics at Missouri State University and author of The Kurdish Nationalist Movement (2006, Cambridge University Press).
Why sell now???
Bagdads threats are ridicoulus!
There are so much coming in the near future, at4 results, maybe a heads up first that theyve reached TD then the reserve update where we will prob book our first 2P reserves instead of just 2c=much more value!
And then the prospective resource report should be released together with that, here we should see the whole upside off the field including the undrilled FW that may contain 0-5 billion barrels of oil according to the 2010 RPS report,
Meanwhile laugh at this :) Turkey's answer was "sure do that, but that pipeline wouldnt be operational for even one day"
So if Iraq moves pipelines away from Turkey it reflects either more threats or there's no way to break the Kurdish link....
Iraqi government to change oil pipeline route according to Turkish Newspaper
Home » Politics » Iraqi government to change oil pipeline route according to Turkish Newspaper // By Ahmed Hussein on January 16, 2014
(IraqiNews.com) A Turkish newspaper revealed that the Iraqi Federal Government intends to redraw the path of the oil pipelines across Syria or Israel instead of Turkey who concluded a convention to import crude oil from Kurdistan Regional Government without obtaining the consent of the Iraqi Federal Government.
The Turkish newspaper, Yeni Safak, published that ”The Iraqi Company of Marketing the Iraqi Oil resources expressed its readiness to change the path of pipelines that export Iraqi crude oil to the global markets so that it reach global markets without passing through Turkey,” The Kurdistan Regional Government announced its intention to export one million barrel of crude oil to Turkey which raised the rage of the Federal Government which considered this process as smuggling and unconstitutional and it threatened to reduce the portion of Kurdistan Region from the 2014 State Budget.
Read more:
http://www.iraqinews.com/baghdad-politics/turkish-newspaper-reveals-intention-of-iraqi-government-to-change-path-of-oil-pipelines/#ixzz2qarVHkuD
Follow us: @IraqiNews_com on Twitter | IraqNews on Facebook
Read more:
http://www.iraqinews.com/baghdad-politics/turkish-newspaper-reveals-intention-of-iraqi-government-to-change-path-of-oil-pipelines/#ixzz2qarKthqW
Follow us: @IraqiNews_com on Twitter | IraqNews on Facebook
It will come.
Kirkuk pipeline got blown up again for Bagdad a couple of days ago.
Over 50 times last year..
Oil is flowing to turkey and beeing held in storage tanks, they have storage for 7 million barrels.
I think that will fill up in 1 month.
So beginning of february we should have an ok.
Funny to see Shahristani change his mind :)
Happy newyear everyone!
Its happening ;)
Atrush neighbour is starting export
uk.mobile.reuters.com/article/idUKL6N0KA1M720131231?irpc=932
Iraqi Kurds export first heavy oil to global market
Tue Dec 31, 2013 1:43pm GMT
* KRG sells first cargo of Shaikan heavy crude
* Gulf Keystone operates Shaikan oilfield
* Taq Taq oil going into new pipeline for exports
By Julia Payne
LONDON, Dec 31 (Reuters) - Iraq's Kurdish region has started exports of heavy crude to world markets, traders and industry sources said, a further step to wrestle more control of its lucrative oil sector from the central government in Baghdad.
Trucked through Turkey to a waiting tanker, the sale of Shaikan crude comes just ahead of planned exports of light crude Taq Taq via a new pipeline.
The Kurdish Regional Government (KRG) began selling its oil independently of Baghdad in 2012, first with very light oil condensate, followed by Taq Taq, produced by London-listed oil company Genel.
Cheers!
The important bit is the MD&A report..
http://www.shamaranpetroleum.com/i/pdf/2013-Q1-MDA.pdf
A full prospective resource report is going to be released.
Yum.
Q3 tonight!
Moved forward from friday.
A little birdy said at3 update should be included if numbers are ready.
http://www.shamaranpetroleum.com/s/FinancialCalendar.asp
GLTA
More deals with Turkey, pipelines and payments
http://mobile.reuters.com/article/idUSBRE9A50HR20131106?irpc=932
The new pipeline will have a capacity of at least 1 million bpd of crude oil, KRG natural resources minister Ashti Hawrami said in Istanbul last week.
The exports will be metered independently, he said, inviting all parties including Baghdad to send auditors to observe the process.
Revenues will be paid into KRG accounts, a source familiar with the plans said. Hawrami has repeated the KRG's readiness to send 83 percent of the income to Baghdad after deducting the autonomous region's share. Baghdad views such plans as illegal.
"The KRG says this oil belongs to all Iraq and they are happy to share it.
There is also a bit of a hope that the reality on the ground will force Baghdad to make a deal on this," the source said.
Bond fully subscribed :)
ShaMaran Us$ 150 Million Senior Secured Bond Fully Subscribed
11:00 / 30 OKTOBER 2013 / SHAMARAN PETROLEUM
NEWS RELEASE October 30, 2013 (TSXV-SNM, OMX First North-SNM) ShaMaran Petroleum Corp. ("ShaMaran" or the "Corporation") is pleased to report that its USD 150 million senior secured bond has been fully subscribed. Net proceeds from the bond will be used to fund the Corporation’s future capital expenditures related to the development of the Atrush Block. The bond will have five years duration without amortization and carries 11.5% fixed semi-annual coupon. Settlement is expected on or about 13 November 2013 and the Corporation will apply for listing of the bonds on the Oslo Stock Exchange.
The Atrush Block is operated by TAQA Atrush B.V., a subsidiary of Abu Dhabi National Energy Company PJSC which holds a 39.9% working interest in the Atrush Block. ShaMaran Petroleum Corp. holds a 20.1% working interest through its wholly owned subsidiary, General Exploration Partners, Inc.. Marathon Oil KDV B.V., a wholly owned subsidiary of Marathon Oil Corporation (NYSE: MRO), holds a 15% interest in the block. Subsequent to their back-in the Government of the Kurdistan Region of Iraq holds a 25% working interest.
Pareto Securities AS acted as manager and bookrunner for the bond placement.
About ShaMaran
ShaMaran Petroleum Corp. is a Kurdistan focused oil development and exploration vehicle. ShaMaran Petroleum is a Canadian oil and gas company listed on the TSX Venture Exchange under the symbol "SNM" as well as NASDAQ OMX First North under the symbol "SNM".
Forward-Looking Statements
This press release contains statements about expected or anticipated future events and financial results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as legal and political risk, civil unrest, general economic, market and business conditions, the regulatory process and actions, technical issues, new legislation, competitive and general economic factors and conditions, the uncertainties resulting from potential delays or changes in plans, the occurrence of unexpected events and management's capacity to execute and implement its future plans. Actual results may differ materially from those projected by management. Further, any forward-looking information is made only as of a certain date and the Company undertakes no obligation to update any forward-looking information or statements to reflect events or circumstances after the date on which such statement is made or reflect the occurrence of unanticipated events, except as may be required by applicable securities laws. New factors emerge from time to time, and it is not possible for management of the Company to predict all of these factors and to assess in advance the impact of each such factor on the Company's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking information.
On behalf of the Board,
Pradeep Kabra, President and CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
ShaMaran Petroleum's Certified Advisor on NASDAQ OMX First North is Pareto Securities AB.
FOR FURTHER INFORMATION PLEASE CONTACT:
ShaMaran Petroleum Corp. Keith Hill Chairman (604) 806-3583 khill@namdo.com
ShaMaran Petroleum Corp. Pradeep Kabra President and CEO 0041 22 560 8605 pradeep.kabra@shamaranpetroleum.com
ShaMaran Petroleum Corp. Sophia Shane Corporate Development (604) 689-7842 (604) 689-4250 (FAX) sophias@namdo.com www.shamaranpetroleum.com
ShaMaran Petroleum Corp
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Good post on stockhouse
http://www.stockhouse.com/companies/bullboard/v.snm/shamaran-petroleum-corp?postid=21858997
He has also heard some rumours on another option for shamaran that made them pull the bond back..
Also he says at4 has spudded!
Cheers
Well that was strange.
Why pull the bond back and stay silent for 3 weeks and then open another bond exactly the same as the first one.
Clearly something made them pull back and think about something for 3 weeks?
What?
My source say the books opened today and is expected to close this week.
Cheers
Hi,
Yes IOCs is independent or international oil companies.
More good news!
Pipeline connects AFTER Baghdads meeteringstation!
"The Kurdistan pipeline joins Iraq’s main export pipeline to Turkey after a Baghdad-controlled metering station, Hayward said. That will give the Kurds full control, bypassing the federal government."
http://www.businessweek.com/news/2013-10-25/hayward-says-completed-pipeline-turning-point-for-kurdistan
Good decision Hawrami!
Also about Maliki to turkey.
Turkey invites Iraqi PM to visit Ankara, Maliki accepts the invitation
"Nuri al-Maliki accepted the invitation of his Turkish counterpart Recep Tayyib Erdogan to visit Turkey, stressing bilateral cooperation between the two countries, Aswat al-Iraq reported.
The sources added that Iraqi foreign minister Hoshiar Zebari will visit Turkey this week, to be followed by another visit by Turkish foreign minister Hoshiar Zebari Ahmet Dawood Oglu to Iraq."
"It’s worth mentioning that in September 2012, Iraqi PM Maliki rejects Turkish PM Erdogan's invitation to visit Ankara."
www.ekurd.net/mismas/articles/misc2013/10/govt2216.htm#.UmaPblgbALk.twitter
Pipeline is completed
Testing has started
Good news for IOCs in kurdistan. Baghdad is silent and Maliki yesterday accepted an invitation to Turkey.
http://www.businessweek.com/news/2013-10-25/hayward-says-completed-pipeline-turning-point-for-kurdistan
cheers
Dat, i think its an PI thats buying via Skandiabanken.
I also have that bank and my advisor tells me the bank dosnt buy anything, only people with accounts in the bank.
I have a so called kapitalförsäkring account there, VERY profitoble when it comes to tax.
You only pay 0,5% tax on the whole amount instead of 30% tax on profits. But you pay even though you made a loss..
But do the math if you know youre gonna do a big profit.
Cheers
They sure are!
Sry for double posting, im on smartphone..
Hi!
Skandiabanken keeps on buying, 2,08 million shares today!
He has bought almost 6 million shares since october 9th when bond was pulled back... 2,5 million $
Here you can see the stats, numbers are in swedish krona.
http://www.trader.di.se/index.php/quote/maklarstat/212316
Hi!
Skandiabanken keeps on buying, 2,08 million shares today!
He has bought almost 6 million shares since october 9th when bond was pulled back... 2,5 million $
Here you can see the stats, numbers are in swedish krona.
http://www.trader.di.se/index.php/quote/maklarstat/212316
Now BRC, barcleys turn. Nice smooth trade 600-700k on OMX
I think they are working together.. Not normal
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15:51:09 500 2.87 Auto trade AVA BRC
15:51:09 350 2.87 Auto trade AVA BRC
15:51:09 1 650 2.88 Auto trade SBN BRC
15:50:59 500 2.88 Auto trade SBN BRC
15:50:59 500 2.88 Auto trade SBN BRC
15:50:59 2 000 2.88 Auto trade SBN BRC
15:50:59 1 500 2.88 Auto trade SBN BRC
15:50:59 500 2.88 Auto trade SBN BRC
15:49:51 5 000 2.89 Auto trade AVA SWB
15:46:40 500 2.88 Auto trade SBN SWB
15:46:40 40 700 2.88 Auto trade NDS SWB
15:37:25 3 300 2.88 Auto trade NDS AVA
15:37:25 11 700 2.88 Auto trade AVA AVA
15:36:06 5 000 2.88 Auto trade AVA AVA
15:33:41 8 300 2.88 Auto trade AVA SWB
I forgot to say, yesterday CAR bought another 500 000 shares, this time at 2,97 SEK, day before he bought at 2,85...
So 1 million shares in 2 days for almost 500k $
See if he wants more today..
I agree futr!
Turkey is the way to go, money goes to KRG and then they give IOCs their share, take 17% and sends the rest to Baghdad.
But if shahriatani keeps on this joke with cutting KRGs 17% from the budget KRG can keep everything and be economicly seperated from the rest of Iraq.
But the best would be to get the OK from everyone.
Maliki to turkey.
http://www.ekurd.net/mismas/articles/misc2013/10/govt2216.htm#.UmaPblgbALk.twitter
Cheers
Thx for that!
But she cant say much else, can she?
"Yes, we have Leo Koot and the other boys from TAQA here at the office chattin about and having dilly donuts and coffe eyhh"
:)
But maybe it is as she says, but i think a whole quarter for Lundin to make a decision on financing is wayy to long.
I think unitisation is a hot lead, and only the supermajors can develop a field as big as (Shaikan, behr bahr, Sheikh adi, atrush and swara tika)
Big oil conference in december and now this http://www.iraqinews.com/baghdad-politics/alawi-visits-washington-biden-invites-barzani-nijaifi-to-visit-usa/#axzz2iRRtNaOS
Maybe its time for Baghdad to make up with KRG and be friends so they can reach their exporttargets.
They need KRG more then KRG needs them.
Holding
Hi
Its probably a PI that uses them i think, but its not an average bank.
Its for the kind that has deep pockets :)
At first they had an hidden order in @2,85 SEK and got ~413k but then the SP got up to 2,95 SEK at highest.
Just before closing they bought another ~87k for a total of 500k..
See if they continue tomorrow..
Nice spike on TMX... 400k in one go by TD sec it looked like..
I meant that its 2 weeks tomorrow since the bond offer was taken back without any comments.
Cheers
Hey
New brooker joined the game today, CAR.
Carnige investment bank, a "high end" bank for the rich..
I can see back until february and this is the first time someone buys Shamaran using that bank.
Only 413k so far but i think there is more coming.
Two weeks of sillience now..
Cheers
Well... The volume on OMX have been +10 million shares per day since this news about Bond being taken back.
I mean.. There havent even been a PR that we are seeking 150 million$ in bonds...
And neither an about this offer been pulled back 12 hours before closing of the Bond...
About Shamaran.
Either they are doing an advanced deal to raise capital or something is cooking.
I mean a traditional private placement wouldnt take this long to annouce if the raising of bonds didnt work..
Btw
Have you seen that TAQA have pulled out from their energyinvestment in Turkey?
12 billion $ deal...
---
Your welcome!
Forgot the link
http://files.wp-irak.de/gesetze/Oil_Gas_Kurdistan_28_2007_En.pdf
Got an reply from swedish IR today.. He said "we will release an PR when we have something to report"
Unitisationrules
Page 22
Article 47:
CHAPTER TWELVE UNITISATION
(Unitisation of Reservoirs within the Region)
First: If a Reservoir lies entirely within the Region, any unitisation of the Reservoir shall be the responsibility of the Minister after obtaining the approval of the Regional Council, and shall be consistent with international standards in the petroleum industry.
Second: A Reservoir that lies partly within a Contract Area, and partly in another Contract Area, shall be unitised as follows:
(1) The Minister may require by written notice the Contractors to enter into a joint unitisation agreement with each other for the purpose of securing tmore effective and optimised production of Petroleum from the Reservoir; and
(2) if no joint agreement has been reached within a reasonable period of time from receipt of written notice stated in Paragraph Second (1), the Minister shall decide on the unitisation; and
(3) if the Contractors do not agree with the Minister’s decision, the Contractors shall be entitled to arbitration pursuant to the provisions of Article 50 of this Law.
Third: A Reservoir that lies partly within a Contract Area and partly in an area that is not the subject of any other Petroleum Contract, shall be unitised as follows:
(1) The Minister may require by written notice the Contractor to enter into a joint unitisation agreement with the Minister for the purpose of securing the more effective and optimised production of Petroleum from the Reservoir; and
(2) if no agreement has been reached within a reasonable period of time from receipt of written notice as required in Paragraph Third (1) of this Article, the Minister shall decide on the unitisation; and, if the Contractor does not agree with the Minister’s decision, the Contractor shall be entitled to independent arbitration, or the decision shall be according to the conditions of the Petroleum Contract where such a process is provided for under the Petroleum Contract.
Fourth: Any unitisation agreement reached shall define the amount of Petroleum in each area covered by the agreement, and shall appoint the Operator responsible for production of the Petroleum covered by the agreement.
Fifth: The Minister may approve the development or production of Petroleum from the Reservoir only after it has approved or decided the unitisation agreement.
Sixth: Any changes to the unitisation agreement shall be subject to prior approval by the Minister.
Some new info from neighbouring block sarsang.
Sarsang is 2 fields, sarsang and swara tika, north of atrush.
In SNMs presentations they state upside in our field as swara tika extension.
Today i got my hans on an article stating that KRG is not happy with HKN.
They have taken to long and not forfilled the PSC requirments, they havent declared field commercial etc..
http://i41.tinypic.com/ane8eg.jpg
http://i40.tinypic.com/5ulm2o.jpg
If Sarsang PSC is discualified we COULD, i say could have a chance of getting a slice of sarsang included in atrush, swara tika.
This since swara tika is a part of atrush.
That would be something :)
I also got that reply from Sophia last week, dosnt say much...what can she say?
Cheers
Hi red!
Ok i see!
Yes there are sub markets, we have OMX large cap for the biggest companies, mid and small cap an then first north for smaller companies.
Most Lundin companies are on first north in Sweden and TMX venture.
In Sweden its possible to contact Pareto brooker if you have canadian Shamaran shares short SNM and for a fee of about 200$ you can convert them to swedish OMX shares, regardless of the number of shares.
Contact this brooker if you have questions about this http://www.paretosec.com/
I see that the us market dont really follow TMX or OMX.
Cheers
Hi
Thank you!
Why dont you buy on OMX? Its here the volume is if you would want to sell pre buyout..
But then again why would you wanna do that for? :)
I just found out that the Bondloan pitchikng was done in 3 places between october 2-4.
Bondoffer was taken back 12 hours before close on oct 8th.
Feels like 6 days is pretty short and if it was low intrest that made them pull it back theyve could have lenghten the bondsigning another week?
Hoping for good news.
Better moneyrasing than 10-11,5% intrest or even better a takeout we accept
Cheers !
Hello!
The people over at SH didnt apriciate my input, they only judged my spelling.
I didnt now it was spellingbee, lol
So from now on if i find anything intresting i will post it here instead of on SH.
Where are you guys from? Where did you buy your shares? On swedish, canadian or us market?
Swedish OMX is the only one with decent volume..
Best regards
Kinematik