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Https://x.com/chariot_energy/status/1768251646956409105?s=46&t=GXEMFIPiVMCp4flUoECNgQ
When we sign offshore drill unit contract, we will have drill timing.. MID YEAR 2024 still mooted as of 2 days ago by AP.
Waiting on:
Confirmation of site construction
Schedule for spud and 2nd drill
Reprocessed 3D seismic data
$10m from Energean
Offshore rig contract
Etana electricity offtake agreements
Further updates on the projects in development with Karo Platinum and First Quantum Minerals
Essakane solar project in Burkina Faso
40MW solar project at Tharisa
Green hydrogen
The report didn’t even use the most up to date data available in 2018 because it hadn’t been fully processed.
Fernan10.
You have rasied this numerous times and you have been advised numerous times, the report you refer to is very old (2018) and does not take into account any of the avo and seismic data from chariots offshore licenses which proved gas reservoirs and have now been established as same signals in Loukos as part of the 3d sesimic read through using chariots offshore data from Anchois..What is it you are not getting here as the reason for the old report being low ( they did not have the data! ) or are you intentionally hoping to spread FUD ?
Hi Fernan,
Looks like they are being very conservative in their resource estimates for the LNB-1 lower, due to the lack of log data.
If the original Anchois resource was upgraded tenfold by the latest processing techniques, then they must believe they can achieve similar results in Loukos.
IMHO
Sold the buy of 28th February 7.65 paid for 7.7p today , as I bought same amount for 7.3p yesterday.
Up 4.55% with 2.26% spread shown above.
7.7 to 7.3 = 5.1%
Thanks Jimmy. It would be interesting for you to review their numbers.
Regards
Thanks fernan , I will have a look.
I would note that chariot have reprocessed the seismic so that could explain the difference.
Jimmy
Jimmy:
ERC Equipoise Ltd (ERCE), the independent evaluator that issued a CPR for SDX for the Lalla Mimouna Nord area (now the Loukos concession) in 2018, assigned just 5.4 bcf of prospective resources to the deeper 300m gas bearing interval discovered by the LNB-1 well ( see page 129 of the report)
All prospects in the concession (including the deeper interval) were assigned 26.2 bcf of 2U prospective resources.
Have you checked the assumptions made by ERCE to get to that extremely low numbers?
It´s all in the report.
Regards
Love you Jimmy 👌
Barchart.com's opinion turned out to be marginally less valuable that the sample I posted this morning for the NHS to check whether I have bowel cancer or not.
Much appreciated Jimmy, makes sense, from a retired rig guy, cheers
Hi thebold.
Chariot have identified the deeper sand horizon on its reprocessed seismic only some of which has been received to date. They have identified the deeper zone below the main target of both of the forthcoming wells.
I expect they will want to drill both wells first, validate the gas in the deeper horizon, and then correlate the wells results to the seismic and then re map, using both Avo and spectral decomposition in the 3D seismic data to map the lateral continuity of the deeper gas reservoir. The fact that SDX drilled this deeper reservoir is very encouraging. The mapping of the shallower Avo reservoir indicates the presence of faults which appear to control the reservoir deposition fairway and I expect such fault control to prevail at the deeper reservoir also.
Chariot have identified this deeper reservoir in both its priority prospects . We know the shallower prospects have a reservoir thickness of 10.5 meters based on SDX published data, and that chariot have mapped these prospects in total at 79 bcf. So if the deeper reservoir is50% of what’s been found in lnb1 and the fault controlled area is the same as the shallower reservoir then back of the envelope pro rata that 1tcf.
For reference, anchois 1 had 50 meters of gas reservoir and anchois 2 updip had 150 meters of gas reservoir.
The drilling onshore is pursuing a similar concept and strategy, but at 10% of the drilling costs.
Jimmy
We do indeed .. Loukos looking like it could be a very high quality gas licence analogous to offshore Anchois/Lixus .
We have approval for 19 well locations plus re-entry to existing discoveries which total I suspect around 1T
7.30.....should be the end of the downtrend imo..
lets see
Not everyone Thebold maybe just more a damaged limitation exercise as we enter exciting times.
I am staying though living for the dream.
As that drill site must be getting pretty close to completion.
So everyone looking at that selling at a loss ha ha….
Traders chart site says 100% sell.
https://www.barchart.com/stocks/quotes/CHAR.LN/opinion
Hi Jimmy,
Do you think these prospective numbers form the basis of what DW advised as news imminent on new onshore data interpretations and upgrades ?
Thanks for clarifying. Strange that there has been no mention of such a large potential discovery. I can see SDX did announce the successful LNB-1 drill but declared mid-case estimates of c 10BCF. Any idea what Chariot think as to why/how SDX overlooked such a resource?
Mr plot.
Lnb1 found a deeper reservoir of 300 meters which will be drilled by the first two wells by chariot.
No prospective reserves announced, but I have estimated it at 1 tcf. Which is huge for onshore.
Jimmy
Agree completely, but I think it's precisely this point that is making it hard for the bigger institutions to invest..