Anyone bother checking up on other Oilers drilling in Indonesia about so called regulations and restrictions pertaining to disclosures of discoveries?
Could be new rules imposed after the infamous Bre-X incident.
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Anyone bother checking up on other Oilers drilling in Indonesia about so called regulations and restrictions pertaining to disclosures of discoveries?
Could be new rules imposed after the infamous Bre-X incident.
Which analyst was that. In about 95% of cases you do not chuckle at what analysts have to say but react somewhere between crying and a full bore laugh---that is if it is worth reacting at all.
I certainly do not know why the info is held but if it is in my interest to hold it then so be it. Strange that I am now the one supporting the coarse we are on when in the very first instance I was the sole load voice asking if we really should be there playing by their rules.
In the back of my mind I suspect the well is a big success and the Indonesian are hoping we will make some sort of mistake so they can justify pushing us out of our 22%. Certainly if it were a duster we would have long ago heard all about it. Guess now we will just have to read between the non existing lines and conclude that when the next drill starts the last one must have been a success to justify the next one.
From a family member I have heard a lot about the strange business decisions made by Indonesia and if it is as 1/100 as bad here in the oil drilling as it is in the aviation world then we should expect nothing else and should have been well aware of this way of doing business before we started.
Balance thanks for that story about the Bre-X incident. I googled it and it made interesting reading. Knew only minor details about it beforehand. It could be having some effect on our oil drilling especially if it is a big success but I can only wildly guess at what it might be.
seems nzo had a 5% jump today with some buying right at the end - news leakage maybe
roll on Monday
M
Actually I would say there is new from Indonesia. The other day Balance brought to our attention the Bre-X incident. Googles it for a great read. But I do not think that is the main driver here. From me the theory goes like this.
Indonesia use to be an oil exporter and now is an importer. During the hay days of exporting the govt took the easy option[do they not all] and introduced hugh gas subsidies for the population. Today those subsidies are crippling the economy and Indonesia has been told by the IMF to act against them. So right now Indonesia is bringing in a quota scheme for gas the first of past exporters to do so I believe.
So my theory of why info is being held up is that the Govt wants this quota scheme up and running before it announces any oil finds that the population could otherwise use against the scheme and call for BAU. If you think about it the last thing Indonesia needs now is any excuse the entrench gas prices well below world levels.
Well that is my take anyways for what it is worth.
Cheers.