The below article is not directly related to Invictus but it mentions that both Exxon and Chevron are in the process of signing deals with the Algerian government for exploration in Algeria.
Link to Article: https://oilprice.com/Latest-Energy-News/World-News/Chevron-Close-to-Signing-Natural-Gas-Exploration-Deal-With-Algeria.html
Regarding the relation to Invictus, many of you likely remember the interview from a few months ago with the Algerian Ambassador to Zimbabwe in which he talks about working with Zimbabwe on the country's gas development. This caused concern among some (including myself) that the Algerian government would try to strong arm the project away from Invictus. In light of this, I really liked seeing that two super majors are actively signing deals with the Algerian government. It indicates that they've vetted them and are comfortable with them from a geo-poliltical perspective.
It's a bit hard to understand the ambassador but I've included my best attempt at transcribing an excerpt from the interview below. When I first watched the video, I viewed the Ambassador's comments as a strong positive but with the aforementioned concern. The recent deals with Exxon and Chevron have reduced the concern that any deal will be underhanded.
Algerian Ambassador: "I really listened to the valuable advice of the [Zimbabwean] president concerning the strengthening of the relations between our countries in all fields. And we talked about some of them and he really showed interest to go deeply as his brother also, President Abdelmadjid Tebboune (Algerian president), to strengthen, to go further, to go ahead with projects for the benefit of our two peoples in all fields."
Interviewer: "Including the gas?" Algerian Ambassador: "Including, yes, let's say especially the gas. As you may know our minister of energy was here last August and there was a memorandum of understanding signed with both parties and there will be a joint venture and investment in the field. There will be training of our brothers from Zimbabwe in the National Hydrocarbon institute in Algeria maybe next month I think and they are in contact and conference together. But it is not only in this field. Mining is also very important to the two countries. The field of agriculture..."
Link to interview: https://www.youtube.com/watch?v=8dMHzstnEgs
IVZ Price at posting:
6.5¢ Sentiment: Buy Disclosure: Held
