Just a couple of quick points.
Not sure if you are aware of this....Galoc crude is low sulphur, and in March 2008 NDO signed a marketing agreement with Trafigura Pte Ltd (Trafigura is the worlds 3rd largest independent oil trader) to market their Galoc crude for them. As far as I know, this agreement is still in place.
This in effect means that NDO's share of Galoc oil can be sold independently of the rest of production , although I don't know if they ever actually did that. It was supposed to be sold into Philippines refineries with excess supply going elsewhere. WLA will potentially increase the surplus supply, as may Galoc Nth if a commercial discovery.
Please note the agreement is with Trafigura Pte Ltd indicating this is the Singapore Branch of Trafigura....maybe that's the connection to the new BCP entity being set up in Singapore....and maybe amongst other things, depending how involved BCP intend to get.
Secondly, I note from your research that BCP has stated "This year, Bangchak plans to conclude a SHARE acquisition deal in an upstream EXPLORATION BLOCK, said Mr Vichien. “
NDO has a number of these that BCP may be interested in, and unless they're already working on a deal with somebody else, they've only got five months left in this year to conclude that deal. Perhaps this is the corporate transaction we're in suspension over.
If it turns out this statement does relate to NDO, I read that as not a T/o or a merger, but just taking a JV position.
NDO Price at posting:
4.1¢ Sentiment: Buy Disclosure: Held
