HI TC, been offline the past week or so & just catching up on...

HI TC, been offline the past week or so & just catching up on things now..

The privatisation of Sonangol is a new angle & whilst I don't see it being a negative it is definitely material in nature & therefore worth a deeper look.

Interesting that AP was there recently, as reported by some in the boards & whilst not unusual one wonders why now?

We are getting down to the pointy end of things & as we all know the ability of a Gov entity to be agile in business is quite often hindered by red tape..

Going private will do a number of things, one of which is to put cash into Angolas coffers & the other is to create another large agile player in the O&G space..

And if you are going to become a large private vertically integrated player then people will want to know your true asset base.. Currently stated as $51b give or take.

It is at this point I'd like to remind everyone that of all the majors combined in both onshore & offshore drilling the entire industry is targetting 430mboe.in potential discoveries...

Sonangol are currently sitting on ???? Many barrels of contingent resources, which as Backer points out aren't real until McDaniels say they are..

At which point your asset backing goes from $51b to ??? at 70% JV holding...

Sure seems like its kinda globally significant, at least in Angola & of course Cuba..

Will get back to you when I have a bit more of a sniff around, but the timing seems coincidental don't we think. ?

gltah H8tey.