OTCPK:ATGYF - Post by User
Post by
algroveon Feb 07, 2014 8:56pm
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Post# 22186553
From the ENEGI BB in UK- Fyne may not be dead yet
From the ENEGI BB in UK- Fyne may not be dead yetABTOG
Excellent presentation by Martin(?)
Have appointed Steven Baird, who was in attendance as CEO. Knows his stuff and previous experience of new techs and getting them to market,
FDP licence. Think it was hethersett who asked. 31 jean deadline passing no problem. Working very closely with decc. Suggestion from minty was that the deadline was there in case nothing was being done, so decc could pull plug if needs be. Not an issue as working towards a solution. Described as a 'comfort deadline'. Real deadline is November 2016.
Decc are diverting field holders to ABTOG!
Wood group - encouraged to join the dots. 90 days nearly up and we would have heard if there was bad news.
Technology looks really good. Similar models (Peru) from concept to delivery in 13 months. Suggestion that this was a comparator. However, may be able to use technology as leverage into deals in advance of that. Big operators sitting on fields to them that are uncommercial. This gives them the opportunity to get revenue from them and to delay the expensive decommissioning costs for years to come.
Antrim financial situation not a concern to them. They were cagey around this, I think they have a cunning plan.....
I asked about acquiring 'nearer production' assets. Answer referred back to buoys and potential this will unlock. Discussions ongoing.
Jordan. Naff all happening due to political situation. Didn't do any work and didn't get paid. Minor part of portfolio, similarly Ireland.
Cash flow fine. Paid wood group 2million (I think I heard this right) as an example of no concerns here.
Not interested in share consolidation (good move IMHO).
Spoke to Martin afterwards. Looking at loads of licenses in next round, can't apply for them all due to costs but there are some biggies in there, previously flowing at over 7000 bopd.
Martin is full of drive and I believe will take this forward. I'd do business with him.
Nick Elwes was there, sat sulking at the back as normal.
I swore I wasn't going to add any more, but I may just be tempted. Definitely not going to sell (yet).
Again, please forgive me if I have got the wrong end of the stick here, I'm no techie but I have done my best.
Waz
https://www.iii.co.uk/investment/detail/?display=discussion&code=cotn%3AENEG.L&threshold=0&pageno=2&it=le