Razor: , "I think Lundin has raised a very fair issue here. Arakis is
inevitably going to have to raise more financing just to fund their own share of the
total capex forecast for the Sudan project, and yet they continue to spend money in
other areas (i.e., $1.25 MM for Wadi Saylah No. 1 in Oman). Does that make
good financial sense to you?"
Where have you landed from (FTPF), why do we have a higher cost pipe, because we are going with 250,000 BOD rather than 150,000 BOD. What is the excess capacity for? For IRPPF, or Sand's sister company. Well, if the 150,000 BOD was going to cost about 1 Billion, a user of 100,000 BOD capacity should rightfully pay for that right about $600 MM, I am saying let be generous and give IRPPF a discount, let them advance $400 MM here and now, then Lundin can go and blaber his pontificating non sense. I do not want all my eggs in one basket (Lundin companies certainly do not have all their eggs in one basket).
If Arakis yields to Lundin, they will make a massive strategic mistake, and I'll be out fast. Lundin is nothing short of an oil pipeline thief and we owe it to ourselves as shareholders to resists his efforts to constrain Arakis to operate only in Sudan and force us to finance his pipeline facilities.
Zeev |
