The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
GRH - I want to thank you for pointing us to the research papers re seepages. I hadn't realised the significance of this information in the CPR previously. Surface seepage surveys will now form part of my due diligence of any exploration play from now on. A great example of the BB being a tool for learning / sharing.
Maybe Ron was moving to another competitor which had a non-compete clause which meant Ron had to sell all his shares? Maybe as he was on the way out to somewhere else he wasn't privy to this information. Maybe Lonny was privy to this information which attracted him in as COO.
All I know is I have no idea, and neither do you.
......and still Ron didn't see it............?
"After some three years with the Company, Ronald Pilbeam is stepping down from the Board with immediate effect to pursue other interests"
All the best (oh (dry /duster) well.......... happy retirement Ron........ ! )
Pasta
please forgive me
but you really do need to read the Schumacher Paper again
as you seem to have the wrong end of the stick
The correlations percentages relate to whether or not commercial hydrocarbons are found
Where there is little/no evidence at surface ...there is scant chance of finding commercial hydrocarbons beneath
Where the IS evidence at surface, there is very good chance of finding commercial hydrocarbons beneath
There are many other factors that Schumacher does not cover in his excellent Paper
Example...hydrocarbon migration is NOT static ...
very far from it!!!!!!!
so there is a clear temporal requirement/aspect to accurate surface evaluations
Regards
GRH
BTW, If I'm coming across as far too Dopey or Negative for the Boards liking, I'd quite happily vacate the premises?
...and then secondly to that, given that oil and gas seepages have been noticed in Morocco for centuries, would that explain why those before PRD and our neighbours CDX keep finding relatively small reservoirs?
Perhaps we're all drilling in the right places, just maybe a few hundred thousand years too late??
Just asking again.
This may well be a stupid question but I would like to know the answer if there is one.
In which of the two groups, 80% versus 11%, were the largest finds?
I only wonder as logically speaking the finds with seepages would suggest a dissipation of the original volumes? So therefor the larger hydrocarbon fields would remain trapped in their entirety, whilst continually growing?
Just asking.
PB.
I will see if I can put a little post together on the subject
As some here know from (good) experience...
and others are starting to realise...
THIS is right up my street
Regards
GRH
I fully accept that any decent BB must accommodate all views, positive and negative.
And I would strongly oppose the idea of the likes of Little Nige being silenced, even though I think he (they?) speak crap and probably have an agenda.
But surely there must be a case for getting rid of this annouting twit, Chesh, who just writes unintelligible gobbledygook?
I have no idea whether he is for or ag'in but he just wastes space on here to no benefit whatever.
So, from the research papers:-
Of the wells drilled on prospects associated with a hydrocarbon seepage anomaly, 80% resulted in discoveries. In contrast,
only 11% of wells drilled on prospects without a microseepage anomaly yielded a discovery.
Of the 2610 wells drilled, 42% resulted in discoveries. For wells drilled on prospects with a microseepage anomaly, success
rates ranged from 73-87% with an average of 80%. Wells drilled on prospects without an associated hydrocarbon anomaly had success rates ranging from 2-29% with an average of 11%.
From the 2012 CPR:-
Two micro-seepage surveys were carried out by Geo-Microbial Technologies in 2006 and 2007. A total of 32 traverses were carried out over a 2500km2 area and 731 soil samples were analysed in 2006 and 2007. Pathfinder Energy Maghreb Plc/finnCap Limited 11 SLR 501.00269.0001 CPR Morocco May 2012 SLR
The results of the 2006-07 surveys (Geo-Microbial Technologies Inc, March/April 2007) identify several hydrocarbon types in the Guercif basin: thermogenic dry gas and some condensate around the GRF-1 well; oil and gas/condensate around the MSD-1 well, over the Jezira anticline and in southwest; and oil in all other anomalies. Particularly interesting is the abundant seepage in a large area around the TAF-1X well which appears to be oil rather than gas. The anomalies cover a larger area and have higher oil concentrations than the anomalies elsewhere. These surveys confirm there is an active hydrocarbon source system in the basin.
MSD-1 is just about 2km SW of GRF-1.