RE:RE:RE:One for Lonegaurdian19
Oh dear. Your last post ..that incoherent 3 am rant I can only put down to you being at the bottle. But it shows just what kind of person you are .. not a deep thinker are you? You are like that Firstworld clown who talks about Hitler and Nazis. If you make ridiculous statements on this board, expect people to take the p*ss out of you.
Your first post (before you got too deep into the bottle) lacks a bit of context for some of the points you made. So let me try and help you
Kenya: Definitely hindered by Tullow’s financial position and the lack of co-operation from the Govt of Kenya. Also, from 2014 – 2021 the oil market was a tough place to do business with investment in oil projects drying up. None of these factors were really in KH’s control.
But you have constantly been dismissing this project without have the patience to see it play out. GoK has until May 10 to approve the deal (YE conf call) so we don’t have long to wait
Nigeria: This deal has now paid for itself. Going forward AOI is going to get $250-300m USD annually in Prime dividends for the foreseeable future. I think it’s proven to be a great deal and when the other 2 partners backed out of the deal, Keith Hill made his own luck by completing the deal. Ballsy move for sure but it has paid off
With respect to hedging, KH explained that the partner holding the other 50% of Prime are bankers and they were the ones pushing for much of the hedging ..although that is now changing. Prime still owes a $1billion so they have to hedge some production. This will be much less of an issue going forward as the hedging unwinds
Africa Energy: AFE is a minority partner in 11B/12B and Total is handling the negotiations with the South African government. Its complicated and there is virtually nothing Keith Hill or AFE can do to speed this along. Personally, I am v happy with having Total negotiate on our behalf