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Patridge. U r right. Assuming slb were confident t10 was to deliver that shows they have confident in the asset. It would be reasonable to think since t10 found gas but not in commercial volumes slb would like to adjust the shot "around" t10 and may be thepressure monitoring aftert10 drill points to that. Bhk.
Sorry for the typos, lag on my iPad......
Partridge, you maybe close to the truth there, however, 5 minutes are I read that gas molecules came to the surface without stimulation, I was wondering why a flow rate wasn’t given. Te6 and 7 both had u stimulated flow rates. I started to get a bit concerned at that point and just hoped they could at least get a commercial flow post stimulation. I must admit, I used to think that Schlumberger would have the key to unlocking Tendrara, with access to the latest technology, turns out that was wrong.
I reckon Sound did too, so accepted the lower COS. Over at Coro, James Menzie’s assets are all quite low risk and pretty much appraisals, hopefully this proves to be correct. If the timings are right, I’ll definitely be transferring money from here to those kinds of plays......learnt some lessons here, that’s for sure.
I get the impression Mr Parsons felt let down by Schlumberger at Te10. Not only did the Sound experts think Te10 would flow but " our partners think it will flow". When it came to the crunch the experts were wrong. Sound, I think, ploughed a lot of money and time into Te10 and were left shocked by the result. The company is in a weakened state financially and operationally. The optimism of Schlumberger was the cause of a major drain on the Sound purse. Exciting times.
Esattamente, signor Maldini!
You could say that Schlumberger is the elephant in the room, invisible to our regular 'lost all hope'rs.
I did previously suggest that Schlumberger's involvement suggested that SOU wasn't the only party that believed there was gas to be found, but was shot down with a 'Schlumberger just did it for money' retort.
The fact is that the internet is the main vehicle for the promotion of conspiracy theories and this one is one of the wackiest I've seen: 'all the SOU directors pretended that they thought there was gas in Tendrara; Schlumberger went along with the pretence for money; JP is pretending to be trying to sell Tendrara so that he can drag things out and collect more salary (while he takes a salary cut); Rothschild think Tendrara is worthless but are pretending otherwise for money.'
So why don't Schlumberger sell?
Long, I think that Schlum see value in Morocco and the question is then whether they move forward in partnership with Sou, with SOU and other partner(s) or with completely new partners if SOU sell out. Either way value = value just in case some would have you believe otherwise.
The following thought occurs to me: if all the posters who are convinced that SOU's share of Tendrara is worth no more than ££100m are right, then why haven't Schlumberger joined in the sale and tried to get the £58m supposed maximum for their share?
After all, according to the posters, there isn't anything in Tendrara worth drilling, so why don't Schlumberger get rid of their share while they have the chance?
Oilfield services giant Schlumberger has appointed a former North Sea boss as its new chief executive.
Olivier Le Peuch will take on the top job on August 1, replacing Paal Kibsgaard who is retiring after more than 22 years at Schlumberger and eight years as CEO.
Mr Le Peuch is the current chief operating officer at the firm, having been with Schlumberger for 32 years.
In that time he had a spell between 2008 and 2010 as vice president for North Sea operations, overseeing work in the UK, Ireland, Norway, Denmark, the Netherlands and offshore north-west Africa.
He has also held a range of other senior positions within the company.
Current CEO, Mr Kibsgaard, said: “Olivier possesses the Company’s values, an in-depth knowledge of our business, and a proven industry track record—all together, he is ideally suited to lead Schlumberger into the next chapter of our history.”
Mr Kibsgaard is also being replaced as chairman by Mark Papa who will come in as non-executive chairman of the board.
Commenting on his new post, Mr Le Peuch said: “I am truly honoured at being chosen to lead Schlumberger and its world-class workforce at a very exciting time in our Company’s history.