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Microcap & Penny Stocks : EuroControl (EUO.V) -- Ignore unavailable to you. Want to Upgrade?

To: kidl who wrote (13)	6/26/2013 7:01:12 PM
From: kidl	Respond to of 553

June 22/13: Big Oil loves / hates Nigeria - \| Nigeria represents an unfathomable and unique opportunity for EUO. Unfathomable in revenue potential and unique because Nigeria’s government has NO alternative but to tackle the oil theft / corruption issue. Supermajors like Shell and Total have them over a barrel and have started to play hardball. On one hand they offer carrots like the one below, on the other hand they have now started to simply shut pipelines down for extended periods of time if the bunkering gets out of hand. By shutting down pipelines they not only deprive the government of much needed revenue, they (and this is the “fun” part) also deprive the crooks of their revenue. Ya can’t bunker or otherwise divert oil that ain’t flowing. The writing is on the wall that the three parties, supermajors, government and the crooks will have to make a concerted effort to find a mutually acceptable solution. EUO’s technology is the perfect solution as it would prove that the government is finally putting its foot down while still “allowing” for a mutually acceptable level of “shrinkage” but it’s now controlled and no longer environmentally damaging shrinkage. Such an arrangement would even keep the producers happy as evidenced by their willingness to negotiate predetermined and contractually agreed upon shrinkage. Gotta love third world countries ... :-) Bottom line ... Someone will ink a HUGE oil authentication deal in Nigeria in the VERY near future. Authentix seems to be EUO’s most serious competitor. They are already established in Nigeria with an (affiliate?) office in Lagos (pharma, textile and food markers?) as well as in other African countries. Authentix also has a history with Shell as it was originally owned by Royal Dutch Shell but that’s going back 20 years. Too bad Authentix is private. Otherwise one could hedge their bets ... Recent Shell Nigeria announcement: The Shell Petroleum Development Company (SPDC) of Nigeria has formally decided to invest around $3.9 billion into a pair of infrastructure projects in the African nation that it hopes will help secure energy supplies in an area known for theft and sabotage. The Shell-led venture with the Nigerian National Petroleum Corporation (NNPC) plans to spend about $1.5 billion on a "bundle" of upgrades to the 180,000-barrel-per-day Trans Niger Pipeline, sections of which have been hit hard by saboteurs in recent years. The new loop-line design includes improvements to better protect the pipeline against crude theft and sabotage. The upgrades are also intended to help reduce pollution related to criminal activity, SPDC said. The joint venture also plans to spend around $2.4 billion on the second phase of the Gbaran-Ubie project, which consists of five gas supply and infrastructure projects related to the Nigeria LNG plant and the Gbaran-Ubie domestic power plant. Expected peak production from these projects is 215,000 barrels of oil equivalent per day. “These investments will help to secure energy supplies for domestic and international markets," SPDC managing director Mutiu Sunmonu said in a statement. "The TNPL project demonstrates the tangible steps SPDC and its partners are taking to tackle the scourge of criminal activity - pipeline sabotage and crude theft in the Niger Delta, which is the cause of so much environmental and economic damage in this region.” The joint venture also said it plans to launch a strategic review of its interests in some onshore leases, including a potential exit from leases in the Eastern part of the Niger Delta. The SPDC JV produced around 750,000 boepd of in 2012 from 28 Oil Mining Licenses (OMLs) across the Niger Delta, both onshore and in the near offshore. It has been selectively divesting parts of its onshore portfolio, concentrating the operating footprint on a smaller, more contiguous area. Since 2010, SPDC has sold its interest in eight OMLs for a total of $1.8 billion. The venture is 30% owned by Shell, with NNPC on 55%, Total of France on 10% and NAOC on 5%. Meanwhile, a researcher at Amnesty International accused Shell of overstating the sabotage issue in Nigeria, saying the supermajor plays it up in order to shield itself from criticism over oil spills in the region. "Sabotage is a problem in Nigeria, but Shell exaggerates this issue to avoid criticism for its failure to prevent oil spills," researcher Audrey Gaughran was quoted as saying in the Nigerian newspaper The Guardian this week. The Nigerian government estimates about 250,000 bpd of oil is lost to sabotage and other criminal behaviour.