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thanks for reply well got my eggs in several baskets. really excited about boil
trp due a change of luck had a lot of dusters but gbp is an interesting one been waiting
must be 10 years to progress its next ventures, was in their back in the day when gbp
were 20p+ having had success in the Eagle Ford of Texas and sold out for millions
Namibia and some Island in the middle of nowhere where on the books back then
but not up to date on recent events so can give no real advice, other than if still the
same team in place should do well
have you any thoughts on trp and gbp im heavy here and in both of them i got small amount in msmn will top up more there
yes did say those figures, forget the full shell established 5.73 TCF / 974mboe
just take the discovery well they drilled estimated near 2 tcf of gas = 340mboe
oil in general around the world reserves are usually prices in at 10% npv with
other factors like regional risk etc when copl recently made its acquisition the
top end USA in the ground price was $7.50 a barrel
back when the last oil super cycle occurred the in the ground prices around the world
bottom end was the likes of iraq $4 and top end usa $12.50 a barrel
so usa just over half of what it was then , take that $4 and turn it into $2 the in the ground
valuation for the discovery well reservoir alone could be
2 tcf = 340 mboe x $2 = $680 ------- with Sundagas 75% / Boil indirect almost 64%
so that would equate to around £400m in the ground value, think its over the top
88e recently hit £560m on anticipation they might finally have some oil that will
flow this time
As said in several posts all ifs and guesswork BUT in this case we have inherited a
huge asset developed by a sector MAJOR, will not take much to fall into place if
the seals etc proved to be intact via the new seismic survey , or Shell coming back
15th February
Petrofac called in for crucial offshore well in Timor-Leste
Contractor to provide important drilling services to the owners of the Buffalo oil redevelopment
UPDATED 15 February 2021 3:11 GMT
By Russell Searancke
Petrofac has been appointed as drilling management services contractor for the crucial offshore well on the Buffalo oilfield south of Timor-Leste
we are also offshore south of T.L and a couple of the to the south west edge of our license
suspected to be oil and/or condensate in addition to the HUGE volumes of gas around
the North East of the license Chuditch discovery area
https://www.upstreamonline.com/field-development/petrofac-called-in-for-crucial-offshore-well-in-timor-leste/2-1-962666
10th March others starting to drill again the latest to announce Santos
Australian independent Santos is preparing to start a major multi-well shallow-water offshore drilling programme in Australia and Timor-Leste comprising up to five exploration targets and three production wells.
https://www.upstreamonline.com/exploration/australian-operator-limbers-up-for-big-offshore-exploration-push/2-1-975821
shell drilled the discovery well already and spent if I remember correctly 37m
in development cost, prior to the going nowhere political stalemate between
OZ and East Timor (so they left)
and our now to be boil majority owned SundaGas picked up 75% for a song with
the T.L NOC holding the other 25%
The only reason boil has not exploded already is the Shell data is all 20-30 years out
of date, discovery well drilled in 1998
The undersea area to the North East of the Island is prone to several earthquakes a
year, we are well to the South of the Island as is the monster Sunrise Gas Field and
its still fine
If Shell or similar decide to return for a JV and/or the new seismic survey that was done
by a Norwegian company of the entire area last year proves all seals still intact etc
the market will no longer be able to ignore an asset developed by an industry major
that previously established HUGE volumes of Gas and a couple of possible oil/condensate
leads on the wider license also GLA
:))
what do you think, current ultra low market cap if 20 bagged would from current
level only be 100m
Chuditch if proved to be still viable, Shell had established 5.73 TCF = 974.1 mbo equivalent
with further leads across the wider license, worth a tad more than a 100m market cap :))
Pepe. I remember HFB forecasting the SP rising to 1p/ 2p and maybe more should everything fall into place.
Buena suerte.
hopingforbags you think 0.40/0.50p IS possible longterm ?
£19k - please own up.