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They sort of kept us waiting last time. But who cares when they discover Oil!
Maybe another psychological event leading to results? All good stuff.
I think Wednesday will be the spud day
Well done, we’re off to find more back gold.
On August 22, 2019, Tullow Guyana B. V will conclude drilling operations at the Jethro -1 well site and will be moving to the Joe- 1 well site to conduct drilling operations within the Orinduik Block of the Guyana Maritime Zone,
https://marad.gov.gy/wp-content/uploads/2019/08/No.-61_2019_Tullow_Guyana_B.-V.pdf
Maverick
There isnt a dilemma so far as I can see.
Appraise Jethro, drill Joe then drill 2 Cretaceous. That should find (if successful) oil in fields equivalent to 1.0 - 1.5bn barrels and prove the oil has migrated across various areas in the licence.
At this point Tullow can complete discussion but frankly I'd be surprised if they are not.opening a data room now or soon to share the info needed by majors to assess the prospectiviry of the field for themselves.
I've not doubt they've been invited to discuss selling a stake before.
It is not in their interests for QP/Total to have a closed run at it, they want a competitive bidding scene to maximise return.
This plays into the hands of ECO as a sell down from Tullow and sale of Guyana by Eco can give a major access to one of the hottest licences (potential wise) in years for a very reasonable upfront dollar per prospective/contingent barrel cost.
Mentioned below the figures put together for Faroe.petroleum plc by Gaffney Cline/Rothschild and would suggest Anadarko indicates a price of $12 plus per barrel of discovered reserves (I'd say one third/one quarter for derisked contingent).
TLW are probably in a dilemma. If they can't afford the expenses of taking the field into production with 60% costs (i think IJT referred to this on the TLW thread), then they will need to farm out a %% of their interests. QP & Total the obvious candidates. What price and how quickly can they get a deal done if they want to progress this asap.
The Jethro extension, pleeeze.
Or get the Stena forth to drill an appraisal well on Jethro.
Hi Olderandwiser,
Who knows what the old gits at TLW are up to!
Remember seeing the Analyst question the drilling programme at one of their events last year(Capital markets day?); Why are they paying a dividend when they should be using that money to drill more then two holes.
With the lower Tertiary de-risked, my money would be on them drilling another there. By the time that's done the Carapa results will be out, so the Rig could then move to a cretaceous target. Just my opinion.
Surely they're not going to send the Stena Forth back home after paying the demobilisation costs and then have to pay them again next year?
Hello itsyou,
What's your take on what TLW does next in this drilling campaign?
ATB.
It's still on Jethro.
For info, Exxons drill ships stay onsite for roughly a month after they announce a discovery. I'm not sure what they do, but that has been the case for all drills over the last couple of years. I've watched them all, which cross referencing with MARAD site and marine traffic.
For a week over Jethro her LAT was 08 14 54.94. Maybe when it's free ...
Starvin
Working to a Jethro drill location of LAT: 08 09 30.01 secs N LONG: 57 16 57.50 secs W
Stena Forth has moved .783 nautical miles or 1.45 kms in a 159 degrees SSE direction.
If the input figures are correct then people can draw their own conclusions :)
I'll leave that up to noix to calculate. 6 minutes of change from her drilling position over Jethro is roughly 6 nautical if she were located at the equator, but once again, I'm a landlubber and in over my head here.
correct, markets open at 2.30pm our time
I was under the impression that 9.30 in Canada equals 2.30 pm in the UK...but wtfdik!
Starvin, has it moved from Jethro yet?
In all the excitement does anyone really care ... as of 2:54 UTC
N 08 08' 46.20" W 057 16' 40.18"
Subject to correction by itsyou ; )
TSX-V opens @ 9:30 am.