RE:Malcy takeaway points..politicat..... what you are suggesting makes some sense about PB leverage but at the same time T&T desperately need the gas.
As TXP start to become an even "larger fish", demand more tax breaks in return for the expansion.
If T&T gov't want to play hardball on taxes, put the company up for sale and see if other would want to put money in there. I dont think it would be that simple.
Maybe that will open their eyes to what they have..... a reliable operator, investing in the islands energy future needs.
politicat wrote: Cascadura expansion -- 3 wells from 1 pad must be drillled / tested and brought to production together and this will be 2nd half 2024. 60 mmcf/d expected total so another $50M fcf end 2024.
Reserves -- 75M BOE in 2023 to 100M in 2024.
It feels like they are taxed twice by T and T. $2.10 for Coho gas and $2.50 for Cascadura gas and Gov resells for much higher market rates. Then they are taxed on the profits they do manage to make at a high rate is Brent goes much beyond where it is today. You can tell the taxation bother PB - he brings it up all the time to the point of suggesting they would need to have "talks" before bringing on a big expansion on production. Problem is PB has no leverage. You do not want to pissoff the T and T gov when they control the pipelines etc.
PB says they are "a big fish in a small pond" but to me they are the biggest fish in an aquarium owned by T and T gov.