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Close one Company, and open another Company?
pkli899 ( Date: 12-Feb-2020 13:45) Posted:
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Actually, same owner.
From one company transferred to another only.
From one company transferred to another only.
HendriJB ( Date: 12-Feb-2020 13:42) Posted:
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Alpha Energy New Shareholder
HendriJB ( Date: 12-Feb-2020 13:41) Posted:
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Check out https://links.sgx.com/1.0.0/corporate-announcements/0D44KDPSJO0EMF12/ec15038a1c964373b3de2bcb6f7d377389c49ed92a91102d2376945f17fcefe8
No la, they hoping end Jan settle the loan default issue.
Probably not yet, so no announce.
Better dun resume now......sure drop like mad.
Wait a little while better.
Best is all issues resolve and concrete proof of oil flowing,
future plan inplace etc, before start trading.
Probably not yet, so no announce.
Better dun resume now......sure drop like mad.
Wait a little while better.
Best is all issues resolve and concrete proof of oil flowing,
future plan inplace etc, before start trading.
embracez ( Date: 06-Feb-2020 09:42) Posted:
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no sound no picture ?
i thought end Jan resume trading
i thought end Jan resume trading
Hiaz this one really...
Hope to hear some news soon
Still no announcement from the company. :(
For now stay in ICU safer.... 😅
I wonder where Alpha Energy is going to get $60million for the requisite investment by 1st quarter.
https://www.petroleumnews.com/pntruncate/536763978.shtml
https://www.petroleumnews.com/pntruncate/536763978.shtml
Please la. Interra currently is producing around 650 BOPD over the last few years with almost zero debt, and had been trading at around 3c before the recent rise.
Drydry ( Date: 24-Jan-2020 12:18) Posted:
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Interra found oil field tat can produce 39 bpod is currently tagged at 6.7ct per share. So for alpha which produces 620 bpod, how much does it worth?
Huat ah!! Gong xi fa choy!!! Seem likely back in trading in Feb.....good timing....shld easily 6-8 cts!!! Huat ah!!! Happy trading folks!!!
Thanks 👍
Gong Xi Fa Cai 2020 to your good self Gravity8888 and family. Have a safe and good Happy Chinese New Year 🧧 😊
Gong Xi Fa Cai 2020 to your good self Gravity8888 and family. Have a safe and good Happy Chinese New Year 🧧 😊
gravity8888 ( Date: 24-Jan-2020 11:16) Posted:
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Nominations HAVE CLOSED for the 2020 Top Forty Under 40. WINNERS WILL BE ANNOUNCED FEB. 7.
Alaska Journal of CommerceAIDEA modifies loan for struggling Mustang project
AIDEA modifies loan for struggling Mustang project
By: Elwood Brehmer
Alaska Journal of Commerce
Post date:
Wed, 01/22/2020 - 9:28am
Crude oil is loaded to a tanker truck at the Mustang Operations Center near the Kuparuk River field on the North Slope. After its owners missed their first two $3.1 million loan payments, the state corporation that has financed $70 million worth of the project approved a loan modification at its Jan. 15 meeting. (Photo/Courtesy/Alaska Industrial Development and Export Authority)
Alaska Industrial Development and Export Authority officials are trying yet another way to recoup their $70 million investment in a small and struggling North Slope oil project.
The AIDEA board of directors unanimously approved a modification to the state-owned investment authority?s loan to Singapore-based Caracol Petroleum Jan. 16, which owns Brooks Range Petroleum Corp. and the Mustang oil project, in an effort to spur the requisite investment from Caracol?s shareholders to advance the project.
The move comes after Caracol failed to make its first two $3.1 million quarterly payments to AIDEA on a $64 million loan to Caracol that the authority approved last May. The loan was a modification of AIDEA?s $70 million total investment made in two tranches in 2012 and 2014 in the holding companies set up for the Mustang project?s infrastructure development.
The loan payments were due Oct. 1 and Jan. 1, according to AIDEA spokesman Karsten Rodvik.
Brooks Range, which operates the field, began producing oil from Mustang in early November through temporary modular facilities after years of delays brought on by collapsed oil prices and other financing challenges. Majid Jourabchi, CEO of Brooks Range?s parent company Houston-based Thyssen Petroleum, said at the time that Brooks Range was producing about 620 barrels of oil per day from the North Tarn 1-A well.
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Alaska Oil and Gas Conservation Commission records show Brooks Range produced an average of 478 barrels of oil over 23 days from the well in November.
However, records for December indicate Mustang did not produce oil during the month.
The amended loan agreement calls for Caracol?s parent company, Singapore-based Alpha Energy Holdings to commit $60 million for project development by April 15. Alpha is also required to repay a $10.5 million allowance AIDEA made to the project last year when Brooks Range failed to meet development targets.
In exchange, AIDEA agreed to relax the terms of the loan and push principal payments back while Alpha injects money directly into the project. The new loan terms call for 6 interest-only quarterly loan payments, followed by seven $1 million quarterly principal payments plus interest and then $4.5 million principal payments until the loan is repaid, according to the board resolution. The interest rate on the loan is also reduced from 8 percent to 6 percent.
AIDEA board chair Dana Pruhs said in a formal statement that meeting the authority?s mission of advancing economic development in the state can sometimes be a challenge, as has been the case with Mustang.
?With the increasingly favorable state business climate, together with oil price and tax stability, Brooks Range owners and creditors took another look at Mustang,? Pruhs said. ?So here we go, and I hope the equity holders can obtain buy-in from the entire list of creditors.?
At the time AIDEA made its first investment in Mustang, Brooks Range leaders said they hoped to start producing oil by 2015. Progress towards first oil slowed greatly when oil prices started falling in late 2014 and investment from AIDEA?s partners became hard to come by.
By February 2016, management for the authority and Brooks Range agreed to put Mustang in ?warm standby? as oil prices in the $30 per barrel range hampered the ability to secure other financing options.
The Mustang field is adjacent to the southern portion of ConocoPhillips? large Kuparuk River field and also near the Nanushuk oil project being developed by Oil Search. The field is estimated to hold about 22 million barrels of oil and could peak at production rates of about 12,000 barrels per day when fully developed.
Making the new loan arrangement work will require Brooks Range other creditors making similar compromises over the coming weeks, according to a statement from the authority.
New Brooks Range CEO Majid Jourabchi thanked AIDEA and the Dunleavy administration for prioritizing a fix to the Mustang situation in the authority?s statement.
?Brooks Range and our contractors on the North Slope are completely aligned in what needs to be done, and the urgency to have it be so,? Jourabchi said.
He could not be reached for further comment.
AIDEA?s Rodvik wrote via email that the authority retains ?options commonly available to a senior secured creditor? if Alpha-Caracol again fails to make good on its commitments.
Elwood Brehmer can be reached at [email protected].
Updated:
01/23/2020 - 8:57am
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Alaska Journal of Commerce
300 W. 31st Avenue
Anchorage, AK 99503
Phone: 907-257-4200
Outside Anchorage, toll-free: 800-478-4200
Copyright © Binkley Co. All rights reserved.
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Nominations HAVE CLOSED for the 2020 Top Forty Under 40. WINNERS WILL BE ANNOUNCED FEB. 7.
Alaska Journal of CommerceAIDEA modifies loan for struggling Mustang project
AIDEA modifies loan for struggling Mustang project
By: Elwood Brehmer
Alaska Journal of Commerce
Post date:
Wed, 01/22/2020 - 9:28am
Crude oil is loaded to a tanker truck at the Mustang Operations Center near the Kuparuk River field on the North Slope. After its owners missed their first two $3.1 million loan payments, the state corporation that has financed $70 million worth of the project approved a loan modification at its Jan. 15 meeting. (Photo/Courtesy/Alaska Industrial Development and Export Authority)
Alaska Industrial Development and Export Authority officials are trying yet another way to recoup their $70 million investment in a small and struggling North Slope oil project.
The AIDEA board of directors unanimously approved a modification to the state-owned investment authority?s loan to Singapore-based Caracol Petroleum Jan. 16, which owns Brooks Range Petroleum Corp. and the Mustang oil project, in an effort to spur the requisite investment from Caracol?s shareholders to advance the project.
The move comes after Caracol failed to make its first two $3.1 million quarterly payments to AIDEA on a $64 million loan to Caracol that the authority approved last May. The loan was a modification of AIDEA?s $70 million total investment made in two tranches in 2012 and 2014 in the holding companies set up for the Mustang project?s infrastructure development.
The loan payments were due Oct. 1 and Jan. 1, according to AIDEA spokesman Karsten Rodvik.
Brooks Range, which operates the field, began producing oil from Mustang in early November through temporary modular facilities after years of delays brought on by collapsed oil prices and other financing challenges. Majid Jourabchi, CEO of Brooks Range?s parent company Houston-based Thyssen Petroleum, said at the time that Brooks Range was producing about 620 barrels of oil per day from the North Tarn 1-A well.
Advertisement
Alaska Oil and Gas Conservation Commission records show Brooks Range produced an average of 478 barrels of oil over 23 days from the well in November.
However, records for December indicate Mustang did not produce oil during the month.
The amended loan agreement calls for Caracol?s parent company, Singapore-based Alpha Energy Holdings to commit $60 million for project development by April 15. Alpha is also required to repay a $10.5 million allowance AIDEA made to the project last year when Brooks Range failed to meet development targets.
In exchange, AIDEA agreed to relax the terms of the loan and push principal payments back while Alpha injects money directly into the project. The new loan terms call for 6 interest-only quarterly loan payments, followed by seven $1 million quarterly principal payments plus interest and then $4.5 million principal payments until the loan is repaid, according to the board resolution. The interest rate on the loan is also reduced from 8 percent to 6 percent.
AIDEA board chair Dana Pruhs said in a formal statement that meeting the authority?s mission of advancing economic development in the state can sometimes be a challenge, as has been the case with Mustang.
?With the increasingly favorable state business climate, together with oil price and tax stability, Brooks Range owners and creditors took another look at Mustang,? Pruhs said. ?So here we go, and I hope the equity holders can obtain buy-in from the entire list of creditors.?
At the time AIDEA made its first investment in Mustang, Brooks Range leaders said they hoped to start producing oil by 2015. Progress towards first oil slowed greatly when oil prices started falling in late 2014 and investment from AIDEA?s partners became hard to come by.
By February 2016, management for the authority and Brooks Range agreed to put Mustang in ?warm standby? as oil prices in the $30 per barrel range hampered the ability to secure other financing options.
The Mustang field is adjacent to the southern portion of ConocoPhillips? large Kuparuk River field and also near the Nanushuk oil project being developed by Oil Search. The field is estimated to hold about 22 million barrels of oil and could peak at production rates of about 12,000 barrels per day when fully developed.
Making the new loan arrangement work will require Brooks Range other creditors making similar compromises over the coming weeks, according to a statement from the authority.
New Brooks Range CEO Majid Jourabchi thanked AIDEA and the Dunleavy administration for prioritizing a fix to the Mustang situation in the authority?s statement.
?Brooks Range and our contractors on the North Slope are completely aligned in what needs to be done, and the urgency to have it be so,? Jourabchi said.
He could not be reached for further comment.
AIDEA?s Rodvik wrote via email that the authority retains ?options commonly available to a senior secured creditor? if Alpha-Caracol again fails to make good on its commitments.
Elwood Brehmer can be reached at [email protected].
Updated:
01/23/2020 - 8:57am
Comments
Custom Search
Advertisement
Follow Us:
7-Day Forecast »
Advertisement
Advertisement
Alaska Journal of Commerce
300 W. 31st Avenue
Anchorage, AK 99503
Phone: 907-257-4200
Outside Anchorage, toll-free: 800-478-4200
Copyright © Binkley Co. All rights reserved.
Contact Us
Hi Trojan,
Can you open the link and post in here ... as I tried, not opening. Thanks and Gong Xi Fa Cai to you and family.
Can you open the link and post in here ... as I tried, not opening. Thanks and Gong Xi Fa Cai to you and family.
Trojan ( Date: 24-Jan-2020 08:15) Posted:
|
Anyway is good news.. Hahah
Wah, like that how to read?
Must go the site right?
Anyway, wish all a prosperous CNY.
Good health and good wealth.
Must go the site right?
Anyway, wish all a prosperous CNY.
Good health and good wealth.
Trojan ( Date: 24-Jan-2020 08:15) Posted:
|
More details on the loan modification.
https://www.alaskajournal.com/2020-01-22/aidea-modifies-loan-struggling-mustang-project?__cf_chl_captcha_tk__=631d4a43494eec9eaa2727fd118f4c10224ab6a3-1579824857-0-AYbKhsOyxYTSqABONbpSFI8_RLB1iJOU7NgklsOuDpj5urZN8QfJmmmX-P3QYAB4Z7MqFjY41NkXDNzl7NWBAYhahs7kFfaChz2B9m155rqtIyPQ26G1-IyLgJuwy_i5nti_ssUlL3u4rlMxGG5L9_2NzjcEjJEadezM-JCxxIPivbAdNRx1oMW3BmPNqmLLD6XFfGSAEzUKdNGr9eDsbpEY7BSlWnDX3zkTdLbJuq4QvZQhxBVB-K5ZgcDwiiRhUetVw-gZg-OjBCvr_-DuEb73LnrSzOrbVr8uyiNK-Wf1S_Gy8e7BDddMLPTCiWfD-02vrPaRNE9qdMDyuF97HYUIFONjIlg1Pxzw47XebL1btXUXKx7p7suDSUduafUsuw
https://www.alaskajournal.com/2020-01-22/aidea-modifies-loan-struggling-mustang-project?__cf_chl_captcha_tk__=631d4a43494eec9eaa2727fd118f4c10224ab6a3-1579824857-0-AYbKhsOyxYTSqABONbpSFI8_RLB1iJOU7NgklsOuDpj5urZN8QfJmmmX-P3QYAB4Z7MqFjY41NkXDNzl7NWBAYhahs7kFfaChz2B9m155rqtIyPQ26G1-IyLgJuwy_i5nti_ssUlL3u4rlMxGG5L9_2NzjcEjJEadezM-JCxxIPivbAdNRx1oMW3BmPNqmLLD6XFfGSAEzUKdNGr9eDsbpEY7BSlWnDX3zkTdLbJuq4QvZQhxBVB-K5ZgcDwiiRhUetVw-gZg-OjBCvr_-DuEb73LnrSzOrbVr8uyiNK-Wf1S_Gy8e7BDddMLPTCiWfD-02vrPaRNE9qdMDyuF97HYUIFONjIlg1Pxzw47XebL1btXUXKx7p7suDSUduafUsuw