RE:RE:RE:Very nicely put restatement of “Why TXP”Thanks for the comments about Eurovision, I loved it too. Sadly, I am now a bloke that can't sing, but I am ten years younger. Otherwise I would still be getting all kinds of everything, over all parts of my anatomy, I would be a real slapper if I were a girl.
Anyway, my thoughts for the week are as follows.
I wasn't expecting very much last week, and I wasn't disappointed.
What seems to be evident is that North Energy does not appear have to have sold, but a couple of our fellow posters took their chance to take some off the table, which may, or may not prove to be the right thing, the Chinook result will determine this, and I for one, am pretty sure that in the light of Shell's previous discovery, the result will turn out to be a very positive one.
What last week also tells me is that North appears to have raised its sell price threshold, probably to 80 pence. although It is also possible that they have raised sufficient funds to cover the costs of their internal merger and are no longer selling.
Either way, upon the assumption that the Chinook drill is under way, our SP should move into the 75 to 80 pence range this week, and we may get a few more investors from the IC share tip, we shall see.
The potential for the share price upon hitting gas is around the pound mark, and then in three months upon independent verification of the reserves, probably unbounded once again, I can see a further 25 to 50 pence onto the price.
I think that the NGC agreement will take a fair while to finalise, although it would be good to nail this one down so that the infrastructure can get moving. I am sure that we are already designing the pipes to take a big find from Chinook and that alternative funding plans are also being made.
GLA