RE:RE:W.T.F. is a NPCI?If you read closely the description of a NPC completed in short order by my new "Bot" Buds, you see that Guyana would not have even granted this NPCI unless everything was positive about the Corentyne Concession in Question. The news today could have been that the NPCI was turned down and the lease was being forfeited as there was no bidders and FEC was not going to put more money into it,. That would have put CGX in very dire straits and FEC with only 3 assets left to sell
Yes, I would have like to have heard that FEC had sold Frontera Guyana for Big Money to Big Oil, but it appears to even be granted a NPCI, everything had to fit the numerous fairly strict conditions for a NPCI and everything did.
I would not be surprised if there were not at least one additional 3rd party (a Big oil company) involved in this decision with Guyana and hopefully more. The ideal situation would be that at least 2 Big oil companies have an interest in Corentyne and granting a NPCI was the best way to buy time to completely go over the terms and conditions of the bids without disclosing much of anything to the public.
Frank, I do agree that this seems like an ideal situation for CNOOC to just to up and buy all of FEC to gain a large completed deep water very stragetic port, an apparent option to use a Chinese company to build a 2nd deep water port with Guyana likely in favor of deep pockets getting a far larger port if it fits into where they want their large deep water port to be built. Plus add the oil in Guyana and Colombia with direct access to a refinery.
Now, I guess we just wait and with no more news apparently for some time, FEC will likely just drift lower. At this volume I doubt anyone is trying to shake anyone out of their shares. We are in very uncharted territory here but that is for another time.