AVZ Discussion 2022
- Thread starter GazDix
- Start date
A few years ago, Woodside bought into the SNE field, now the Sangomar field from Conoco Phillips.Thanks cruiser. Simple answers are the best
So that's how it had to happen just to get the deal done. Aligning our interests with CATH just a nice side bonus it seems.
FAR had FROR and took Woodside to court over the deal and claimed they had FROR.
Woodside actually bought a subsidiary of Conoco Phillips, which held the rights to the tenements, and did not buy the tenements.
Because Conoco Phillips had their affairs organised this way, they bypassed the FROR rule and FAR lost the legal case.
Something similar applies here.
Cominiere holds their 25% in their name and the FROR applies as per contractual obligations.
AVZI holds its rights in Dathcom via the Subsidiary GLH, so in AVZI case the FROR for Cominiere does not apply, as AVZI sells a part of its subsidiary.
If that makes sense.
All IMO of course.
Don't forget Zijin also keeps distance by claiming their 'rights' to the northern section is being held by a subsidiary and thereby can say 'It wasn't us!'.
certainly hope so, my eyes still water reading all that arbitration shit.......what a mess !
I believe CATH is 50/50 owned by CATL and Mr. Pei.
He is having lunch with Superhooter. With any luck its special Beef Wellington.
Try gin, it relaxes the bloodvessels.
Ask the count, he is an expert.
I think something that is overlooked a tad in the forthcoming deal is that this is all of this underpinned by granting of the mining license for tenement 13359. I am silly to assume it's for the whole of 13359 as per the legal cases AVZ are currently fronting?
I still think the breakdown of holdings and who will have the controlling interest needs to be communicated by the company if this goes ahead. Some ambiguous language used and multiple responses on breakdown has been posted here. I've had another look and I still don't know clearly.
Also I'm not too well across voting rights of DRC etc but for arguments sake lets say this deal goes ahead and AVZ get screwed over at court or cease legal battles. If DRC having voting rights + existing Chinese interests on the books + CATH deal + what ever the fuck Zijin get out of this (Fuck em they deserve nothing) - is that enough to sway the voting balance of power to the Chinese? I'm actually unsure what INDIRECT interest is. even after a Googs and chatgpt quiz.
This is where my concern has been the last few days. This is kinda what happened at LLL and the games played by the Chinese to aggressively takeover/essentially lowball the project.
I still think the breakdown of holdings and who will have the controlling interest needs to be communicated by the company if this goes ahead. Some ambiguous language used and multiple responses on breakdown has been posted here. I've had another look and I still don't know clearly.
Also I'm not too well across voting rights of DRC etc but for arguments sake lets say this deal goes ahead and AVZ get screwed over at court or cease legal battles. If DRC having voting rights + existing Chinese interests on the books + CATH deal + what ever the fuck Zijin get out of this (Fuck em they deserve nothing) - is that enough to sway the voting balance of power to the Chinese? I'm actually unsure what INDIRECT interest is. even after a Googs and chatgpt quiz.
This is where my concern has been the last few days. This is kinda what happened at LLL and the games played by the Chinese to aggressively takeover/essentially lowball the project.
As i was a FAR investor back in the day, i can categorically say your assessment of WPL & Cocono Phillips is correct and poor ole far who did all the hard yakka of successfully finding oil 12 out 12 drills got completely shafted.
The difference between the senegal oil find and manono regards to FIRB , is WPL is a australian coy first and foremost and the oil find whilst lucrative, is not a smidge of the geopolitical significance as roche dure / CDL .
imo
Correct me if i wrong tho, LLL investors got a payout ?
I have to agree with you that FAR got shafted.
Senegal’s Sangomar oil field exceeds 2024 output target
Senegal's Sangomar oil field surpasses its 2024 target with 16.9 million barrels (average oil price over last 12 months AUD $120), boosted by new FPSO and record exportsI think it was an expensive over sight.
I don't know why FAR did not understand the significance of CP holding the SNE tenement in a BV (PTY) holding company, registered in the Netherlands.
I was trading in FAR, got out when I saw the game being played and hold WDS longterm.
Yeah i traded FAR, made coin and also got out when the shit fight occurred, but most held thinking the legals was on their side........until it wasnt
All this with 30yrs of chinese investment too.....
And yet despite all that.........DRC is one of the poorest countries in the world, relying on World bank and IMF to prop their ailing balance sheet.
Shameful !
Carlos Danger
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This wouldn't be happening without ML being somewhat progressed with the understanding DRC deal with Pei moving forward and processing is done in country imo
GLH's holding in Dathcom will always vote as one block so AVZ will maintain legal control of GLH at 59.4% and therefore control of the Manono project offcially
However I doubt Pei is fronting the cash, building the plants and sorting out the ML without having a large degree of say on how things will be run
But again we will have the fail safe of legal control of GLH to prevent any shenanigans imo
The terms of the new TIA do mean we get 44.5% of the profit rather than 51% of the profit under the old TIA whichever way you look at it
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