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Pro - I'm with you there but I think all it will take is an oil find at SL before the media gets into a frenzy due to WH being in the top 20 drills to watch in 2018 as per the Wood Mackenzie report. I can also see a lot of big money coming in after SL even if it's a duster however if theres an oil find then it will go ballistic as those that were waiting for the big one at WH will be desperate to get a position with the SP as low as possible.
Well, I think this should be the week we have been waiting for, initial results could come in for SL and then we get an idea of a spud date for the big one at WH. I'm thinking rig down - move 300km - rig up approximately 14 days so expecting spud some time around the first week of Oct.
An interesting thing with MATD is the lack of coverage from any tipster, oil commentator etc.....
They appear to have got burnt by MATD in the past with the previous management and the incompetence at that time imo. This is the new MATD, new management, rebooted and going for it.
I am sure if MATD strikes oil with SL-1 and WH-1 they will all be jumping aboard and extolling the virtues of Block IV and V and the potential over 20 billion barrels of oil and that Mongolia is the new Saudi Arabia.
And if SL-1 and WH-1 are dusters they will all make comment that it was expected, this is Mongolia, nothing there really etc...
The calm before the storm.........storm of positive write ups and articles or storm of negative, same old crap type of articles.....
lololol...and he will go to blocks 4/5 pointing with the company people saying not here...its 10% oh look here its 50% and over there is 30% cos....lololozzz yea like that will fly...I wonder how long he would last with the company?
Some awesome posts today. Appreciate you taking the time out.
Just to add, the STOIIP in the 6 basins is an estimated 90 Billion barrels. 23 Billion barrels recoverable is after applying 25% recovery factor.
Other 6 of the 12 basins currently not at an advanced stage. Overall potential hence could be even higher once those other 6 basins are developed which is something one of the Super Majors will probably take on down the road. Got plenty Oil to deal with in these 6 basins first.
This is a Multi-year play with mammoth Upside.
Block XX should be the final fall back position if SL-1 and WH-1 and Fox-1 all fail.
Then ok....... go ahead and drill Block XX for some production and cashflow.
Strike at SL-1 or WH-1 or Fox-1 and then its farm out time........... or appraise and firm up more and then farm out.
Lets not forget, Blocks IV and V have the potential for over 20 BILLION barrels of oil in place.
Similar in potential oil size to say the licenses of BPC............. we are talking massive potential and its why already the then BG farmed into these 2 blocks before being bought out by Shell and thus dropped.
Say that again.........over 20 billion barrels of OIP potential in Blocks IV and V.
Proselene no matter what you say the likes of Victor14, Fund, CS and Bishand will argue black is blue for the sake of it - not worth bothering with responses mate - everyone of their posts are negative - apparently trying to protect people - load of crap - all traders waiting for cheaper entry and to make their 10% - no matter what you say they twist things- they intentionally miss out things to push their agenda - very sad people - and some not invested - pathetic really
I posted on 24th of August and 28th of August that if Snow Leopard-1 were to strike oil I would prefer they scrap Block XX drilling.
Block XX is small compared to Blocks IV and V.
If you strike oil on IV or V then you can throw away Block XX.........no need for it.
Block IV and V maybe more than 20 BILLION barrels of oil potential. Block XX maybe 150 million barrels.
You going to spend money on the 150 million barrels targets (spread over many many drills)...which are only 70% COS ? or you going to start appraising oil discoveries in Blocks IV and V if you strike oil where there is 20 billion barrels in play..............
So, as posted long before XX was deferred............. my posts say that if they strike oil they should cancel XX drilling.............and now they have deferred XX (and may cancel it if they have a confirmed oil strike at SL or WH).
Based on that, I think its positive for SL-1 that they have deferred..............maybe they have lots of oil shows in the cuttings of the drilling mud and are confident on SL-1 now.
Worst case.............they will save money now as rather than drilling 2 wells on XX this year and another tender for 1 well next year............now they do 3 wells back to back if they do drill XX and so, save money !!
My preferred scenario........SL-1 or WH-1 strikes oil...............then MATD forget Block XX and save having to spend 20 million US$ there - and focus solely on appraising at Blocks IV and V
Sundaysun, will take a few days for logging. They have to pull up the entire drill string once they get to TD, then put the logging tools on and lower all the way back down to TD........and then measure with the logging tools as they pull them back up the hole again.
Then the data gathered needs to be analyzed by the team.
That also seems to be the general read from market reaction on Friday. They onto something at SL otherwise would have got any bad news out of the way. Yesterday was perfect timing to do so...but they did not.
Mike Buck being fully aware of shenanigans in Block XX drilling back in 2010/11, would want to confirm things first before announcing results to market. They could already have had Oil shows but await wire logs data to gain more confidence before putting final drill results out. Should find out soon.
* WH coming up straight after SL also.
* Super Majors on standby.
Defo do not want to be out of this one.