The next focusIR Investor Webinar takes places on 14th May with guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Phrontist, thanks for the vivid explanation and I can almost see myself on that beach all those years ago!
Brom, I do not know the depth that 3D Seismic can go to with reasonable confidence.
Icewine HRZ is about 11,600 ft.
Charlie-1 it is almost the same.
I am not aware that anything has been published on HRZ other than Icewine, and soon Charlie-1
This data you refer to, I have no idea what it is.
The postulation that a very large sweetspot of HRZ exists was made by PB himself.
As a geologist, he would have known the layers of material, when they arrived, what their makeup is, etc. It seems the sea came inland to our area, maybe 1 million years ago, I do not know dates. And over the centuries 2 miles of dust, valcano, meteor, vegetation, god only knows what, has piled up.
Leaving the sweet spot to mature from the vegetation of the time, when sea was lapping on beaches, etc.
Phrontist
Phron
Just to clarify Peters, Houseknecht, Swanson and Decker have published the majority of the Central North Slope research via DNA(DOG) or USGS, we do know that Ken Peters & Paul had discussions about the sweet spot locations.
88E's 3D is still relatively limited.
PB was the geologist that created the database for Central North Slopes. It would include conventional as and when this shows up on 3D Seismic.
But his focus was on the HRZ layer known as a Sweet Spot. Once you flow oil commercially in one place, you know the same is/ could be contiguous over a substantial area.
He has studied the geology in the way geologists do and believed the sweet spot could cover 100,000 acres or more, much more. )))
Phrontist
Bromb greetings
you are correct PB was the king of shale and deferred to DR ss for conventional.
Amazing how too many, even those who know better or should know better believe that the lack of CONVENTIONAL success is because we do not have PB with us still!!
DW will have equally deferred to bot Eric and Steve re location. That PMO over ruled this as they are entitled to, as they who hold the gold make the rules etc, is down to them not DW .
Some are just so bitter and twisted they have not woken up to this reality
Would PB have disapproved of a free carry well with HRZ side cores, I think not.!
88e are short of cash and dilution is was inevitable just a question of how. Now we have the answer with additional prospective acres not in Icewine , is risk mitigation. Not a bad thing me thinks and if we can get two drills next year on similar terms to the last one I will be more than pleased.
Some think that PMO are infallible because they are a bigger company , well THEIR decision proves that not to be the case. Big oilers do get it wrong as did BP with Prudoe bay, they have a small cap wild cat operation to thank for their Alaskan salvation.
See ya al later much much later
14:49 we know for a FACT that the well bore moved ~2.4miles between 2018 permit and 2019 final approval.
14:20 even if Paul had lived we would never have seen volatile oil at Franklin Bluffs, as I have said before PB bid against GBP for the original few leases that included 392301 on the basis that the well could drilled off the gravel pad to test his ideas, as we all know the kerogen was over mature.
I doubt very much that DW is playing at being a petroleum geologist / reservoir engineer remember 88E has Dr Stephen Staley who is no slouch in terms of Petroleum Geology on the board.
He is a Fellow of the Geological Society, holds a BSc (Hons.) in Geophysics from Edinburgh University, a PhD in Petroleum Geology from Sheffield University and an MBA from Warwick University.
Hi SeeVee,
Maybe DW was correct in saying it was PMO who decided where to drill. Think about it, DW's main thing are farm outs. If he lied about it then he would get found out quickly and what company would be willing to trust him and invest in a FO? Don't forget DW is possibly going for 2 farm outs very soon.
I have expressed my opinion of Wall on this forum many times. I invested in PB, not Wall. What I am curious about is the lack of reaction from within PMO, or on their BB to his comments. They may be entitled to ask why £23m of their money was ****ed up the wall on a P and A, but they were told by duster Dave they were wrong to begin with. I cannot see how Wall knew more than they did, but his,very public comments, suggest they chose to ignore the advice from 88e, and this is why they lost their money. I would have thought some from of response would be required/desired by their own shareholders. Shareholders wanting an explanation of why their drill was a duster. Really? I thought they just kept paying so others could keep taking while they stuck pins in a map of Alaska.