Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
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Thanks for sharing guys. Really appreciated.
FD
Early next year for 32nd Round
Couple of things;
First, 42/4-1 has opened a new play fairway in UKCS. A once in a decade event. Look at the positioning by others such a Simwell and Shell leading the charge.
Second, although the 42/4 discovery is a big news event, industry is sitting on news with 32nd Round coming up. Either way good news all round.
Exploration, just picked up your post, your knowledge knows no bounds.
Guess it remains to be seen if Cluff are awarded 2248? Not exactly sure but are the OGA licence awards due any time soon?
Fairdealer20 - a couple of weeks ago Hague and London announced results of their exploration well on 43/12 - see below. If you recall, this is right next to CLNR’s relinquished block 43/11 (formerly P2248) which they said they would re-apply for in 32nd Round. More recently, Spirit announced they will operate the 42/4 discovery/appraisal project and no doubt will do same for Andromeda. Then they can incorporate a development into the Cygnus system where Spirit has ~60% interest - although Cygnus is operated by Neptune.
OPERATIONAL UPDATE - Hague and London; December 2nd
Hague and London Oil PLC, the oil and gas company with a diverse portfolio of production, development, appraisal, exploration and infrastructure assets primarily focused on the Southern North Sea, is pleased to announce an operational update regarding the Andromeda North Well (“Andromeda North” or “The Well”) as well as an update regarding the awarding of the F5 Block, in the Dutch sector of the North Sea and HALO’s involvement in the pending United Kingdom ("UK") Offshore Licensing Round. The Group also notes that the previously announced proposed acquisition of several assets (the "Assets") in the Dutch & UK sectors of the North Sea from ONE-Dyas BV ("OND") is progressing with the Company expecting completion in early 2020.
Operations on the Andromeda North exploratory well (Andromeda or the Well) have been completed and the rig moved off location recently having proved a natural gas discovery in the targeted Carboniferous sandstones. Andromeda North is located in the block immediately to the west of the Greater Pegasus Area that has been successfully drilled and tested while currently under review for development concepts.
The Well found a significant gas column and reservoir section within the Westphalian A target section on the north side of Pegasus West bounding fault. The well encountered gas in good quality,
porous and permeable, sandstone, as was found in a similar reservoir section in Pegasus West.
The gas water contact was shallower than in Pegasus West indicating that Andromeda North is not in communication with Pegasus West. The well was drilled down-dip from the crest of the structure.
Pressure data demonstrates recoverable gas and there remains an, as yet, unquantified volume up- dip of the Andromeda North well. Consequently, the well met the minimum targets and was plugged and abandoned while the data is being studied for future activity.
The commitments have been met for the current phase of the 43/12 Block and the partners will evaluate the Andromeda North results for future planning, inclusive of a possible up-dip location as a potential appraisal well, alongside the ongoing development work within the Greater Pegasus Area.
Exploration as always a very informative Post. Thanks
Mike007
ONE have kept this quiet until after deadline for 32nd Round applications. Good news for P2252/Shell deal and backs up CLNR’s geology and strategy.
Dutch firm One-Dyas has confirmed an oil discovery with its Ossian-Darach well in the southern North Sea.
The area is better known for its gas reserves, but One-Dyas said it had struck oil.
One-Dyas would not provide a figure for discovered volumes.
The well was drilled using the Valaris 121 rig.
Drilling started in May. The well was sidetracked in July and completed at the end of August.
One-Dyas then asked the Oil and Gas Authority for permission to conduct and extended well test.
David Moseley, senior analyst at Westwood Global Energy Group, said in October that it could be assumed that hydrocarbons had been discovered.
An One-Dyas spokesperson said today: “One-Dyas and its partners are pleased with the encouraging results of the Ossian-Darach exploration well and can confirm that oil has been encountered.
“Further evaluations are ongoing to assess the commercial potential of the area.”
One-Dyas’ partners are Spirit Energy (35%) and Neptune (30%).
What does it say can’t open?
Thanks
Twitter first. Probably get rnsd