RE:RE:RE:RE:RE:Sinking because in the room there were only 10 congressmen Wingafy wrote: As we all know this has dragged on much too long (time has always been our enemy) and I agree if the Pilots were completed and oil was connected to the pipeline there wouldnt be much of a debate after that. But, its not and the election will be done before that happens. The leader is a socialist and has made promises (not to say politicians keep promises or anything like that) to stop fracking and reliance on oil. They are an inward looking bunch. Everyone knows oil is a huge revenue source but common sense doesnt always play a hand in the third world.
When the 2022 proffered schedule came out of ECO my optimism fell by about 90 points.
Yep...
By extending the time horizon once again, the risk profile has changed.
Hard to celebrate some of the hurdles accomplished, or even expect the share price or volume to reflect any such wins when ECO drops bombs.
"During this quarter, we carried out the first territorial dialogue in Puerto Wilches, led by the Ministry of Mines and Energy and the Hydrocarbons National Agency, ANH, for its acronym in Spanish. And we started the baseline monitoring work for the environmental impact assessment, EIA, which is expected to be filed by the
end of the third quarter. The estimated time for the issuance of the environmental license is
eight months after filing of the EIA."
So much for trusting their investor time illustrations as "source". Colombia allows for no one to understand anything, even their state owned oil major!
For so long, the macro risk dominated this play. I was looking forward to, and we were on our way, to only having to consider the micro.
With the elections now aligned with the issuing of the environmental permit, anything beyond that is once again in the hands of macro risk.
However illogical a decision to elect a left leader might be, the world has become an illogical place. Look at Peru. S. America is prime for the China/Russia influences...
As mentioned, Petro has been here before, and lost. My bet again has become nothing to do with SEI but, that logical heads in Colombia will prevail, hopefully with US & friends influences...
GLTA