As far as I understand things we are drilling to a depth of some 2000 meters, but this is an old well which has already been drilled to a certain depth so we only have to drill the difference. I can not find info for the old depth but it must have been 1500 - 2500 ft, so the drill only needs another 3000-3500 ft, 20-30 days at a good rate.
JTD... you are right. It is interesting that both BLVN and VOG are having a good run (so far) today. The potential synergies in Cameroon are obvious. VOG is hooking customers at a good rate (at long last), such they they will need additional gas before too long. There is a plan to drill a new well to meet increased demand. However, given that BLVN's Bomono drill is so close to the Bonaberi district of Douala, which is the focus of VOG's next phase of hook-ups, it would make sense for VOG to meet future demand by taking gas direct from Bomono.
I find it hard to believe that the two companies are not having discussions along these lines, so maybe there is news waiting to break once Bomono is proven to be viable.
The reaction to the announcement of the start of drilling was really surprising, in was massively delayed but it was still excellent news that removed a major worry.
Even more surprising is the complete lack enthusiasm for the drilling when it has the potential to change the company, it could be oil or if not there is a high chance that there will be some gas. Once completed and if successful the whole block and deeper horizons becomes highly prospective and make no mistake it is large scale.
In the meantime almost no one appears interested, except to whinge about the share price, when it really doesn't matter the drilling results will set a new price.
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.