Dec 29: Enthused by the discovery of gas in the well — dubbed Cambay-77H — in the Cambay block, the Oilex-GSPC combine, which owns the block, has drawn up a plan to invest upto $2.4 billion in the contract area. 8The flow of gas from the well, Cambay-77H, has been registered at 1 million scf/day. The hydrocarbon gas to liquid ratio (LGR) has been worked out to around 100 barrels/mmscf. 8The duo plans to drill between 100 to 200 wells at a cost which could come in the range of $800 million to $2.4 billion over a period of 10 years. 8The production potential of the field is pegged between 75 million barrels of oil equivalent (boe) to 150 million boe over the 10-year period. 8The field is likely to produce gas between 50 mmscf/day to 150 mmscf/day. 8The revenue from the field is estimated between $3.8 billion to $7.6 billion over the 10-year tenure.
Cambay block-II: Lessons drawn from Marcellus field to test proof of concept in India
Dec 29: The Oilex-GSPC combine has drawn lessons from the Marcellus shale gas fields in the US to test its proof of concept in India. 8The duo believes that the experience of others will help it shorten the learning curve in the Cambay field. 8However, even partial replication of the US experience would require immediate proactive and non-financial support from the government, the Oilex-GSPC consortium claims. 8The operator, as of now, has successfully perforated, isolated and treated eight fractures in four stages in the Cambay field. 8In future wells, it plans to have wider frac spacings to save on costs. The frac efficiency is expected to improve with more wells being drilled during the 10-year drilling programme. 8In the immediate future, the Oilex-GSPC combine plans to put the well Cambay-77H, along with two other wells — dubbed Cambay-73 and Bhandut-3 — into production and sell gas and condensate. 8In the longer term, the duo plans to drill more than 30 wells per year to achieve its drilling target.
Rather than cheat shareholders further, or create an sp of zilch with further dilution. Being an honest guy, and having achieved all the objectives, also not having my mate paying 15% of any future expenses. I would seek out one of the parties that were actually prepared to take the risk prior to 77 . and now sell a 15% psc for a lot more, as it is now worth a hell of a lot more than that which buddy boys actually didn't pay. take that money and the cash flow, then the latest 600k for 10 million options at 5.1p and we may be aqble to spud second drill 1/2 way through the first and poss options money that would prob had of arrived had they taken a pittance from Darwin. well sorry thatleads me back to previous post and feel its exactly on plan. 5p a hope now for me
Over the weekend. and was thinking what I would do now if I had the interests of shareholders in mind. I came to the conclusion that was a wasted thought, because whilst putting it together I kept thinking and realising all the things I wouldn't have done if I had given one iota about shareholders rather than beneficiaries along the way since Aug 2012. I will post the only way I see us to realise above %p in the medium term, but firstly I will list all the things I would not have done and would feel surely people would see through me and never again trust me, had I done these things. 1/ in august 2012 I convice for a rights at 4.7p + 2 shares for every 5 owned and a free bonus an option at 8.45p valid till sept 2015. Rights issue over, followed by video in 2013. Can find it if you like to see ron said this. Interview with RON MILLER of oilex 2013............"Yes we now haveb the money due to the rights issue for 77. this will be completed in the second half of 2013 as the whole process from spud to production test will take between 6 to 8 weeks. That's the 1st thing I would never have said were I a/ an expert and/or b/ honest 2/ ok after saying that and by august 2013 nothing had materialised, I would not then sell a psc for 15% to a friend, call it a cornerstone investor, get my puppet to say its deal done when I have an unwind deal in place. 3/ I would not then tell the world early in 2014 that NOW again we have enough money due to the done deal..and then go make a placing. 4/ I would have done a psc in 2013 not 2014 if needed so as I would be assured that I had enough time (greater than 6 months) from officials to sanction Magna. 5/ I would never have placed prior to the unwind date and allow magna more shares at cheaper due to the unwind deal. I would have placed after the unwind deal. 6/ never would I have drawn Darwin money under the terms (if you read them) one week before I knew we had cleared critical stage and gas flare will be lit. 7/ Boolicks to this as I've said the above facts and what I cant be bothered to continue with in "the I wouldn't have done list", over and over again. So Although due to all that it seems pointless to say what I would do now if it were mine and I wanted an mcap, but although pointless, I will
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