Abbi is smart dude and if anyone can pull off a better royalty deal in egypt for tgl . Its him. My bets on VLE, Mcfarland negotiated Turkeys entire revised royalty structure. ( Including Libya , Etc Etc )Then again Condor is out there CPI. This middle east political shite pot, coupled with Illiquid energy markets for Cdn international. Abbi and all companies mentioned have large cash hoards.
If you think opportunity is in stranded markets for production like WSB nahhh the opportunities offered by Mid East Shite pot and a bucket full of liquidity jointly. Powerhouse or what.
I going to add...dont forget the majors want to divest anything related to ESG or in this case ethical or governance. Blood and puke in streets = opportunity.
I could see the making of a YYC headquarted office with a combined LSE listing becoming a powerhouse of lower G @ A and common goals with a lot of talent.
Hey Cormark are you listening... Broker the deal and help us all create opportunity
Abby Badwi's new promotion, TAG Oil Ltd. (TAO), edged up one cent to 21 cents on 141,700 shares. It stayed unchanged yesterday after announcing that it will sell all of its Australian assets for $2.5-million (Australian) and a royalty. The arrangement is reminiscent of what TAG did in 2018, when it sold the vast majority of its assets, which were located in New Zealand, for $30-million (U.S.) and a royalty. Now TAG has no assets whatsoever except for these royalties -- and, of course, a generous pile of cash. It brought in the above Mr. Badwi as its executive chairman last month to help it figure out how to spend the cash. Mr. Badwi has already said he is scouting for assets in the Middle East and North Africa. These are his favourite stomping grounds, home of past promotions such as the Egypt-focused Rally Energy (which he sold for nearly $900-million in 2007) and Kuwait Energy (sold for about $650-million (U.S.) last year).
Mr. Badwi talked up his plans in an interview that TAG conducted itself and published this morning. It was quite the chummy interview, naturally, with questions such as, "Can you give your thoughts as to why an investor should be interested in TAG Oil right now?" Mr. Badwi was all too happy to give his thoughts. He sees a "window of opportunity" for TAG, which has a chance to buy distressed assets in a high-potential region. Specifically, TAG is looking for "oil fields nearing maturity that have significant reserve upside potential, especially once we implement Western Canadian enhanced recovery technologies," said Mr. Badwi. He specifically mentioned brownfields in Egypt (where Rally operated). Citing "the potential of significant growth," Mr. Badwi concluded that he is "excited to see what the future holds."
Another international player, Tanzania-focused Orca Energy Group Inc. (ORC.B), lost four cents to $6.21 on 800 shares. (The stock is a thin trader. Over 99 per cent of its Class A shares and 16 per cent of its Class B subordinated shares are controlled by the estate of its founder, David Lyons, who died in 2018.) Somewhat like TAG, Orca has been announcing "changes to its strategic direction" recently, although in its case it is shrinking its focus rather than expanding into a new region. Orca owns the Songo Songo gas field in Tanzania. Although it had been looking to acquire assets elsewhere in Africa, it announced last month that it was calling off the search and devoting all of its focus to Songo Songo. Now it has hired an adviser to help it focus on "optimal development and value creation."
That adviser is Lloyd Herrick, the long-time former vice-president and chief operating officer of the Egypt-focused TransGlobe Energy Corp. (TGL). Mr. Herrick held those roles at TransGlobe from 1999 until his retirement in January of this year. Over this time, TransGlobe's production soared from just 200 barrels a day to around 15,000 barrels a day. Much of its production comes from mature fields that TransGlobe coaxed back to life with modern technology -- again, reminiscent of TAG and what it is now hoping to do. Mr. Badwi may be kicking himself that it was Orca and not TAG that lured Mr. Herrick out of retirement. In any case, Orca is hoping to make good use of him. The Songo Songo field is getting on in years, having been on production since 2004. Its licence expires in 2026. By then, Orca will either have to prove that there are still enough resources to justify extending the licence, or it will have to resume its hunt for something new.