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No idea.
What is important rig is nor fix in place and all the helping ships are gone.
So they can start work towards spud... well I am sure they started already.
So what is the process once the rig is anchored in place, other than assembling the drill string & bit? Any guesses on how long it takes to get started?
I am currently on bleo holm fpso and I can see dolphins semi sub, nice to see it fi aly arrive
Month ago price around 50p and investors were wondering if the rig will arrive this summer.
Now rig is here and price still around 50p, so much derisked investment. I topped up a bit :)
Your talking circa. 12 hours to lay the 8 anchor spread, then 2 - 3 days to drill the 26β hole, run & cement the 30β x 20β conductor.
Exciting times...!
@BBN first drill could be as little as 15 days
Ophidian
Big bite what will decide the result for drill number one as no testing to be done will it just be number of predicted barrels and does this unlock senior debt facility
The rig has indeed arrived in position.
This is going to be very intriguing to watch. The size of the risk reward clearly points to a valuation substantially higher than where we are now prior to first drill result.
However, there is clearly some selling going on be it placement or warrants, which thus far is countering this. I have searched high and wide for the approximate individual drill periods but without success. 94 days is the full drill programme but that included rig mobilization.
Given the first drill is the pilot and may not be tested, one would expect a shorter time frame. So we could be looking at 20-25 days, which would place the numbering of trading days at circa 14-18 days if the drill commences by Weds 21st August. That's not a lot of time.
So something has to give here because that reward has in my view got to be attractive to a wide AIM audience.
I think it is there. Safety vessel, Esvagt Sigma and supply vessel Hermit (Nao) Fighter just arriving. Anchor handlers, Siem Opal , Horizon Arctic and Skandi Iceman did a great job. Not sure when the drilling starts!
True, this is why I invested here and I am happy to wait.
You can add hurricane as well with 760mln valuation (it was 1bln without oil)
Looking at mcaps like ECO, UKOG, 88e and MATD our mcap is just ridiculous with 20k bpod projected for next year and good CoS prospects, JOG for comparison have similar mcap with first oil in 2025 and a lot more funding required.... ridiculous
Would be nice to have that reflected in the SP donβt you think?
Coldjoe, I do not care much. I follow I3E progress and they keep delivering, doing what they planned.
What do you think about the endless block sells guys? Without any RNS regarding reduced holdings or warrants conversion?
Borgland Dolphin Rig almost at Liberator Field.
https://www.marinetraffic.com/en/ais/home/shipid:726648/zoom:10
We can see BLEO HOLM couple miles south, which is serving Blake Field (adjacent to Liberator).
I understand I3E will connect later to this infrastructure with production wells.
https://www.marinetraffic.com/en/ais/home/shipid:367333/zoom:10
BLOE HOLM is from the same fleet as Hurricane's Aoka Mizu production ship.
https://www.bluewater.com/fleet-operations/our-fpso-fleet/bleo-holm/