Monday, June 04, 2018 7:40:52 PM
I found a much older article which was in 2011 but makes the clear distinction of what was up to date royalty only (10%) from the project. This is also royalty that has deducted the expense of the project back to the JV. And at least this articles clarifies correctly that Malampaya gets 10% in Gross revenues after expenses of project cost. 2011 was 1 year before their record 1.1 billion us royalty. So if you add it to the 4.6 bil that article states then they received 4.6 bil plus 1.1bil equals 5.7 bil. By 2012. The project received well over 60 billion in total by 2012, but before taxes. Those numbers mean Malampaya by the time it dies in 2024 will have produced much more than 100 bil in gross revenues. Sc72 could be 3 to 5 times as large so that's 500 bil if it's 5 times or 15tcf in size. All this depends on price of gas and oil.
I found another article that said ph govt received 21 bil in revenues which matches ongpins video exactly, and from where he assumes that if that's 10% then the entire field produced 210 bil. But I realize that the 21 bil in that article included tax revenue from the consortium and that inflated the numbers dramatically. So I disregard that article and I am focusing on the older one that specifically states the "royalty" amount only.
I believe a Malampaya today would be worth around 150bil because of where oil and gas prices will eventually be going . Yes China will take 40% but our costs would be lower if they do it . Not the best trade off but everything should be accounted for. I think 75 cents in 3 years is grossly undervalued but I'd be happy to get pxp shares in a buyout. Especially at 14 or lower. as they drill more wells and slowly grow into an Exxon
mobile of the philipines.
http://www.officialgazette.gov.ph/2011/06/09/total-revenues-received-by-the-government-from-the-malampaya-project-reach-p184b/
http://www.officialgazette.gov.ph/2011/06/09/total-revenues-received-by-the-government-from-the-malampaya-project-reach-p184b/
Recent FECOF News
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 05/14/2024 10:01:41 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 11/17/2023 04:38:59 PM
"Defo's Morning Briefing" Set to Debut for "GreenliteTV" • GRNL • May 21, 2024 2:28 PM
North Bay Resources Announces 50/50 JV at Fran Gold Project, British Columbia; Initiates NI 43-101 Resources Estimate and Bulk Sample • NBRI • May 21, 2024 9:07 AM
Greenlite Ventures Inks Deal to Acquire No Limit Technology • GRNL • May 17, 2024 3:00 PM
Music Licensing, Inc. (OTC: SONG) Subsidiary Pro Music Rights Secures Final Judgment of $114,081.30 USD, Demonstrating Strength of Licensing Agreements • SONGD • May 17, 2024 11:00 AM
VPR Brands (VPRB) Reports First Quarter 2024 Financial Results • VPRB • May 17, 2024 8:04 AM
ILUS Provides a First Quarter Filing Update • ILUS • May 16, 2024 11:26 AM