GREY:ENGFF - Post by User
Post by
Columbus1494on Nov 11, 2015 1:35pm
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Post# 24281679
Lotshi
LotshiIts probably to late for farmins now.
There reportedly was one company ready to take over Lotshi if Energulf didnt get the extension earlier this year.For some reason the hydrocarbon minister extended the license to Energulf for 10 months.
Im hoping Energulf and this company have negotiated and they intentionally lets the lisence expire.
Then this company could get a new contract for 3+2+2 years instead of only a one year extension if they farmed in now.In best case they could let Energulf in with a minority share.Otherwise the best we can hope for is that Energulf will be able to sell the results from the seismic.
According to the new hydrocarbon law Cohydro now will get a 20% carried interest.The taxes also
are quite high so its a question how interesting Lotshi is for other companies.
There seems to be a great deal of interest in the east of the country where drilling will take place soon.