yes it will be farm out the process still ongoing. Cant understand though how its less risky. If TRP hit then Im sure there will be some blip here but there is no logical link or reason why oil in TRP block due to its geo will mean oil in GMP. There are no seismics or nothing yet TRP know they are the money shot. Look at the ration of failed drills in the North sea next to successful blocks to see what I mean. You just cant correlate these two COS at this stage
not sure it will. If il migrated to the TRP 4 way dip that has no bearing on adjacent geology. It could for example be sloping away. We have no idea what thier geology is like on the block so it could be worth nothing of could be OK. Seimics will tell us. On the scale of these blocks the oil is only in relatively small pockets. Look at the dry wells already drilled around TRPs drill. The fact that its adjacent doesnt mean much
Value of acreage will become apparent with drill results in my view, as indicated by this extract;...." The well to be drilled by Repsol and partners in the adjacent block during late 2013 or early 2014 will provide valuable information on the potential of one of these stratigraphic fairways."
Not sure this will go much higher yet. Its cheap and for a reason. No siesmic plan, no drill plan an no idea yet what the prospect looks like in tewrms of szie, cos etc etc. Hope this will build but right now its a distant dream but a nice dream. Ill keep in TRP for now as they are right on the money shot but will come here once there is a man with a plan and build as they find out if thier acreage is any good
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.