Lol :) FRR having 18 months to get the Phase 1 online Niko #1 well is a walk in the park and you have it down as a negative - really!!! Remember the 18 months they state in the RNS is nothing more tha a period in time and most probably worst case scenario to complete the drill/works - so if they could move really quick (ok maybes not FRR's forte) and increase bopd well within that time :-) As for the 42 months to complete all 3 phases, this too could be significantly reduced if they move at a pace to complete the plan - yep I hear you say this argument could be flipped if there are delays etc but hey let's stay positive ;-) I note that over on the iii bb you also bemoan the 42 months to complete all 3 phases and have this as a sell - ok that's your choice and so be it so sell and move on! Have a nice afternoon. ATB. VW
During Phase II, at Varang Exploration's option, once Phase I is completed, over a period of six months, it will hold an additional 10% working interest in return for funding 100% of the costs associated with the drilling of a new well (estimated to be approximately US$7 million). The new well, T-#46, will be drilled at a mutually agreed location at the Taribani Field with a frac-completion in the same target zones as T-#31 and T-#16, with similar anticipated results
It clearly says once phase 1 is complete within 18 months, then phase 2 will start which will take 6 months. Then it says once phase 1 and 2 are complete phase 3 will start with 18 months to complete read it mate
The "Jewel in the crown" is Niko #1 well. It appears that will be 1st priority, The lions share of flowrates should come from this well, that will be the bopd that has most affect on the sp.. basically the well borehole is already drilled but there is some blockage/damage down there.. Frontera will sidetrack through the bore hole wall above the blockage/ damage. I don't remember seeing any information regarding how deep the blockage is but this certainly isn't a new well from scratch so after sidetracking, Fracking, cleanup etc we should get some info on flowrates.. I would think Varang will push Frontera for completion and commercial production of Niko #1 hopefully this year
thing is that as usual Frr have not made it clear on exactly what sort of time it will take for all 3 phases, as on phase 2 they do mention 6 mths, as if that is just for phase 2 & also 18mths for phase 1.
Phase 2 though, as there is a new well to be drilled then I would think that would take longer than phase 1, but as said above, not completely clear.
The new well, T-#46, will be drilled at a mutually agreed location at the Taribani Field with a frac-completion in the same target zones as T-#31 and T-#16, with similar anticipated results.
bugsy, as you have Liz as a best friend. do you think that sometime this week you can see if she would clear it up on the timelines for all 3 phases.
by the extract below it is phase 1 & 2 that will take 18mths. I will admit I was thinking all 3 would be completed in that time. I still see that phase 1 will be completed in either Jan/Feb of 2015 which is still good enough for me.
During Phase III, at Varang Exploration's option, once Phases I & II are completed, over a period of 18 months,
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