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nice TICK UP. moving an grooving as we wait for news.....
FULL ASK BABY
Cheers MM GLA
Lol , I stand corrected, the new share capital following the placing equates to a m/c of £35m at 1p. Gla ;-)
1p equates to £28.5m....still cheap as chips!!!
Hopefully multiples of current sp, but dependent on the detail of the JV funding and loan completion...1p on news would only equate to a market cap of c£20m, which would look very cheap on a drill with a 90% chance of commercial success....Gl :-)
HI MM if this Rig deployment is Towers any idea what the SP rerate will be ? Am hopping to get back to the breakeven point after a few year wait. Cheers JPNEB
Massive transformational UPSIDE potential. Gla :-)
Cameroon, Thali License
Summary
• Developing the Njonji structure alone has solid economics
– $14 million cost to complete NJOM-3 and confirm reservoir performance
– $45 million or so to get Njonji into production with 6-10,000 bbls per day to begin
– Base case economics are already excellent, and could reach 16,000 bbls per day of
total initial production depending on what is found in deeper reservoirs
– Njonji can return capital and support exploration of the Northern fault blocks at little or no risk, even with poor reservoir performance and outcomes
• Northern fault blocks could contain over 100 million boe and can be explored
without risk once Njonji is in production
– Smaller levels of oil production from Northern fault blocks could also be handled
through an existing MOPU at Njonji
– Larger levels of production could be handled through an upgraded production unit or tied into Addax/Perenco network
– Can be explored at little or no risk using Njonji cost recovery pool
– Potential to add $100s of millions of NPV
https://www.rns-pdf.londonstockexchange.com/rns/7147Q_1-2022-6-29.pdf
The Trident drilling platform, JA has in mind for NJOM-3, has had a host of tugs and supply vessels visiting over the last couple of weeks and is now accompanied by the MSB Lincoln Crew Boat this morning, it left Port Harcourt yesterday and so hopefully a strong indication the drilling platform is being prepared for its next contract and so every chance it could be for Tower given its close proximity to the NJOM-3 well site.....News from JA fast approaching imho... Gla ;-)
https://www.marinetraffic.com/hi/ais/home/shipid:5448571/zoom:11
Cheers MM yes was referring to the ECO ATLANTIC, lets hope JA gets a shift on and we get moving fast, am i right on thinking that rigs are deployed on Fridays after 4.30 pm .
ps the Island Innovator is a 6th generation heavy duty rig for deepwater and harsh weather environments, and so a bit over specified for the shallow waters of the NJOM-3 well site. Gl ;-)
Hi JPNEB, are you referring to ECO Atlantic???? They've contracted the Island Innovator rig for their upcoming drill and JA has already stated he has the Trident V111 in mind for the NJOM-3 drill, and so when he confirms funding/loan completion, they should be able to push ahead with drill fairly quickly given the Trident's close proximity to the well site. Gl :-)
Hi MM do you think this rig may be assigned to Tower for the next drill or is this still the rig that's assigned to Atlantic?
Cheers JPNEB
Thanks Much MM. I have always thought that Tower would eventually 'cut a break' and this one particular drill looks really very good to me. I hold a goodly few.
It's currently warm stacked not more than 50km or so from NJOM-3 well site, and has no customer details currently assigned at the moment according to shelf Drilling's fleet report......there has been significant activity at the Trident over the last week or so with a host of support and supply vessels visting, presumably preparing the drilling platform for its next contract. Gl ;-)
https://www.shelfdrilling.com/our-fleet/page/3/
Heyuuppski. Q: Does anyone know to whom the rig: Trident V111 - is currently leased by?