GREY:ENGFF - Post by User
Comment by
Columbus1494on Mar 04, 2011 3:00pm
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Post# 18234040
RE: RE: RE: Namib.or Namibe or Namibian??????
RE: RE: RE: Namib.or Namibe or Namibian??????Interesting but risky strategy.The Namibian government could give the license to whomever thy want.
We kow from a russian newsarticle that the CEO of Sintez Korolev was going to propose to the other jv partners
that they should reenter Kunene-1 and that Sintez was prepared to pay 70 million $ dollars and that they wanted the others to pay 70 million $ to complete work on Kunene-1.
I think they could have been drilling right now if the jv partners had agreed to the terms.We will soon know from
ENG if they agree with Sintez`s assesment that they should reenter Kunene-1.From the proposal above and from the media it is obvious that Sintez wants to sell a part of their share.This is probably also a reason for the delay.
From an UNX presentation last year we know that the jv have to drill a well before april next year.
It seems ENG is in a hurry to advance 1711 in fear of loosing the license,this according to an article in the
Namibian newspaper the Economist.
I always saw UNX as a "little brother" in 1711.
Its not in Mellos nature to be in a project with 3%.Im sure HRT wants to increase their share.Now it seems there is a great chance UNX shareholders will be owners of a larger share than ENG in 1711.