Spot on DG. The main point for me is the Unitisation of the field, which sounds like a nightmare scenario to me with all the negotiations and legal aspects to resolve. It would be far easier to JV with our neighbours. I know OXY have the adjacent field 1 mile from Tapia. is this the real reason why SER have chosen not to drill the water disposal at this time? I think that's a real possibility. For me, it would make sense to complete the TSR, put a development plan together and present this to the likes of OXY. If this comes to fruition, Tapia would become a JV play with a free carry and Kansas would become the focus of their main production activities.
The stuff I bought last year and the year before won't come good for at least a year or so due to the enormous gaping void in economic confidence. SER will probably come good in a year or so. GOO I should have sold when I doubled my money. Got greedy.
12 min engineer is the one that bank like to use so he is referring to Dr Ali?? I believe yes.. so he does have credibility from them so what ever and when ever he does come out with the report it is valuable...
15 min cyclic steaming is an intermediate thing... full steam flood is required... if there are 4/5 lease holders.. inject steam on your lease could lead to oil loss from another lease to yours.. loss off revenue for other leases.. we need Unities the lease.. all in one unit x percent of new oil will need to share the revenue cost if from other leases ... both legal and engineering submission made to the state to unities is not very easy.. so who is talking about there then OXY.. how many more players that we have borders with?? I guess negotiating that will not be easy at all getting all parties together.. 15.35 be patient he says.. not an easy game this..
Until we see the report we cannot predict what the capital need is.. a project a large Institution maybe able to build..
Even building a house ain't easy I saw Grand Designs yesterday.. on CH4 +1.. the guy had all the planning permission he bought the land 20 years ago.. now had the money to build on it.. he had a ready made wood house shipped from America was in his barn for about 9 months.. he put the steel frame work on and then started to do the work himself.. while building the 2nd floor roof.. one day car arrives guess 'planning inspector'.. neighbours have complained of the height and privacy.. ok so he agrees adjustments.. neighbour still not happy.. the council then have a meeting with head planners and a mini court case is done.. he presents his case and wins by a majority all good so far.. starts building again.. before the council gives a written permission the neighbour sends a high court letter to the council..everything stops he can't continue to build or he is confused as to what to do.. the South Bucks gave him a vote to go ahead but it all fails.. off he goes to the high court but I missed the last but but saw the last 2 mins and the house was finally built.. moral of the story he thought it was plain sailing.. got one thing approved built according to his design and then one bomb shell drops then another and then another before he finally completes it.. that just to build an ordinary house let alone a huge oil field and what they might be encountering.... we have reached mars using robots but cannot see below ground which often can lead to surprises.. believe the tide will turn here hopefully soon.GLA..
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