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This time next year Rodders.
New CPR, new acquisition, Maple drill too and then (drum roll) RELIST !!
The E15c licence contains the ca. 20-50Bcf Maple prospect which is now scheduled to be drilled in 2020. Maple is a Triassic, sandstone target (Bunter fm.); the partners are Neptune Energy (30% Op.), HALO (20%), GasPlus (10%) & EBN (40%).
Maple is proximal to the existing Vincent Discovery (HALO 30%) and the F-16E production facilities (HALO 4.147%); in a success case Maple (& possibly Vincent) could be tied-back to F-16E for a “fast track” development. The well is considered low cost and of moderate risk for 2020 drilling.
Morning all, feel for those holding Tullow this morning. Maybe there’s a fire sale coming for them and any bits left over Halo could pick up again.
Yes AN results are a bit subdued but there is still potential I guess.
F5 award is exciting though. F4 & F12 are still outstanding and may be awarded too soon.
From May 2019 - HALO eagerly awaits a conclusion to this process in 2019. The adjacent F5 & F4 Blocks (as well as F12), if awarded, represent highly sought-after acreage on "ground floor" terms wholly consistent with the Group’s strategic focus.
Bit disappointing imo. Looks like AN was a discovery and technical success, but not enough to suspend as a future producer, nor connected to PW . And no further corporate update as to IPO/re-listing, so is this result a tick in the box for that or not. This announcement needs more detail.
I just hope that this less than perfect result at Andromeda West doesn't kick the re-listing date further into the 2021 long grass than it has been already.
Shallow water too, so de-com liabilities are less.
Looks like the focus for 2020 will be on the F5 block exploration work, and their other interests in the DNS area.
Cheers fella, keep it in simple terms for me on a monday morning.... 3 points will do me.
I think it's a win mate. 1-0 home win against Watford....;o)) The closer we stick to Neptune the better I reckon.
Morning all,
MT so are we calling this a draw rather than a loss.
F5 is located near infrastructure and its shallow objective would make it very cost-effect to explore. Formal exploration work shall begin next year and the partnership may further expand but Neptune will act as operator for the Block.
...partnering with Neptune too on new exploration work next year. Cochran is adding value, bit by bit. Re-list next year (hopefully) or potentially bought out. There is hope at least..;o))
Pressure data demonstrates recoverable gas and there remains an, as yet, unquantified volume updip 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.
No but the drilled downdip from the peak. We await volume data and a potential further drill into the crest area. Still adds more gas to the bank vaults ! F5 too partnering with Neptune.
Andromeda Westphalian has mean Bcf of about 267. This may prove to still be larger than PW.
"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."
But not quite the result that HNL was hoping for.
What a fantastic XMAS present Mr Cochran !! Really excited for 2020 now...;o)))
https://haloil.co.uk/wp-content/uploads/2019/12/2019-12-02-HALO-Ops-Update.pdf
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.
Award of F5 Block, Offshore Netherlands
Hague and London Oil Plc (HALO or the Company) is pleased to announce the Company has been awarded an exploration permit for block F5 (F5 or the Block) in the Dutch sector of the North Sea by the country’s Ministry of Economic Affairs & Climate Policy.
The Block, awarded in partnership with Neptune Energy (Neptune), is located 200 kilometres north of Den Helder (HALO 8.88%) and 25 kilometres southwest of the Neptune-operated F3-B platform (a, separate, unmanned oil offloading tower is located nearby).