You have to remember that they have some of the best in the business guiding this deal home, the refinery purchase would have been made under great consultation with Angolan govt and our experts. We have ex US oil experts from Oxy, some of the best in the world, Quest is no doubt involved in this so have connections in Dubai wanting to throw their money at it, we have US$100mil facility ready and waiting to be used, we have 4 off shore permits that our experts are looking at, offshore average is 400-500mbbl potential (each permit area)... we have further onshore permits available through the angolans.
This announcement of the refinery purchase is very significant. One it shows that we really do mean business here, the gov't will have supported this idea along with Sonangol, Quest and JV partners. And two, it shows that we have deals locked in, and not waiting on formalisation before action due to confidence all is good.
I have a massive lift in confidence after this announcement. They have the right connections to be making these massive decisions well informed!
Cheers,
Bilbo
You have to remember that they have some of the best in the...
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