Former Ballina shire councillor’s island is on the market for $5 million

first_img771 Goodwood Island Road Goodwood IslandLocated in south of Ballina, New South Wales, Goodwood Island sprawls 306 acres and comes with its own 800m airstrip and boat ramp. The property includes two renovated cottages.More from news02:37Purchasers snap up every residence in the $40 million Siarn Palm Beach North11 hours ago02:37International architect Desmond Brooks selling luxury beach villa1 day ago“I bought the property 10 years ago at an auction just on a whim,” she said.“I thought why not?”“I had just sold a farm at Lennox Heads and so I had a bit more time to spend on taking care of the land and cleaning it up.” 771 Goodwood Island Road Goodwood IslandEVER dreamt of owning your own island?Former Ballina councillor and pilot Margaret Howes is selling her private island — it’s on the market for offers over $5 million. 771 Goodwood Island Road Goodwood IslandThe property is now fenced, gated and features roads as well as a gazebo.“I built the airstrip a few years ago so I could land straight on the island,” she said.“I always go out flying on a Sunday and my flying friends from Grafton and I land on the island and have a barbecue. It is a great place for someone who wants peace and quiet.” Mrs Howes, who is almost 80, said she loved living in the country and bought her own bulldozer and tractor to landscape the property. “I always like to leave things in better shape,” she said.Harcourts Northern Rivers agent Steve Leslie is marketing the property.last_img read more

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Aker Energy secures funding for offshore oil project in Ghana

first_imgAfrica Finance Corporation (AFC), an infrastructure solutions provider in Africa, has decided to finance Aker Energy’s deepwater project located offshore Ghana by investing in $100 million of convertible bond notes with a commitment to participate in follow on fund raising activities.Pecan POD. Source: Aker EnergyAker Energy said last week it had issued subordinated convertible bonds to AFC of $100 million. The bonds have a coupon of 5.5 per cent per year and will be converted to equity in the event of an Initial Public Offering (IPO) of Aker Energy, at an agreed discount to an IPO offering price of 1.85 per cent per year. The bonds have a maturity of five years, with an option to extend with another three years.In a separate statement on Monday, July 15 AFC confirmed its support of Aker Energy and said the funds would be used by Aker Energy to finance the development of the Deepwater Tano Cape Three Points block (DWTCTP), a block offshore Ghana containing multiple oil fields.The asset is owned by joint venture partners, including Aker Energy (50%), Lukoil (38%), Fueltrade (2%) and a 10% carry for the Ghana National Petroleum Corporation (GNPC), wholly owned by the Government of Ghana. The Pecan field, which is the most appraised in the DWTCTP block and the field to be developed in the first phase, is an oil field estimated to contain reserves of about 334 million barrels of oil equivalent.AFC explained that this investment was in line with its overall natural resources strategy, which entails building a portfolio of value added assets across the energy value chain.This investment also marks the beginning of AFC and Aker’s relationship in the exploration and production sector across the African continent; AFC will offer support to Aker, open new opportunities, and mitigate potential geopolitical risks. On the other hand, AFC said that Aker was an ideal partner for AFC, as it seeks to broaden its partnerships with developers within the natural resources sector.The Deepwater Tano Cape Three Points field is one of the Ghana’s principal hydrocarbon assets and is expected to contribute to Ghana’s near term target of an annual production volume of 500,000 barrels of oil equivalent per day.Aker Energy submitted an integrated plan of Development and Operations (PDO) to Ghanaian authorities for the Deepwater Tano / Cape Three Points (DWT/CTP) block in late March 2019. The integrated PDO presents an overall plan for a phased development and production of the resources in the DWT/CTP contract area. The phased development plan will start with the development of the Pecan field as a firm phase one, being the largest of several discoveries in the area.Upon PDO approval, the partners will initiate a process to make a final investment decision (FID). First oil from the Pecan field is estimated 35 months after the FID is made.Samaila Zubairu, President & CEO of AFC, commented on the announcement: “This is an opportunity for AFC to invest alongside a technically and financially strong sponsor that requires project development expertise and public sector advice in Africa, both of which AFC is ideally placed to offer.”Jan Arve Haugan, CEO of Aker Energy, added: “We value AFC’s vote of confidence by collaborating with Aker Energy and the commitment to further strengthening this partnership going forward. We believe AFC will be a valuable partner to help Aker Energy navigate the opportunities and challenges that lies ahead of us.”Spotted a typo? Have something more to add to the story? Maybe a nice photo? Contact our editorial team via email. Also, if you’re interested in showcasing your company, product or technology on Offshore Energy Today please contact us via our advertising form where you can also see our media kit.last_img read more

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