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Follow Xavier on FB and on Twitter. Informative and enjoyable.
sorry a couple of typos -DME and RHC obviously round out my coverage of Helium space, not lithium space. AND ( not “one”) I have added PMG to my watchlist.
ThanksTrek - I don’t have a good handle on the small north sea operators and the relative opportunities of the companies. I have followed a couple one have added PMG to my watchlist. I limit my special situation/turnarounds (high risk speculative) to 5-6 stocks and 5 percent of my portfolio. If one of them “graduates” then I have to sell it or move it to appropriate small cap growth or small cap value bucket ( to do that I have to like it better than something that is already there). Right now I am holding TXP (which I hope graduates to small cap growth), helium1 , jubilee minerals, frontier lithium. I am a little blocked in because I also hold DME and RHC to spread out my coverage of lithium space. But I am always looking for compelling ideas.
I have been following Wentworth, a natural gas producer in Tanzania. They are small, not growing (yet), actually pay a dividend. They might play a role if Tanzania makes some economic progress, even to point of getting power to whole country. I like the CEO. I haven’t pulled the trigger on buying any. Maybe if I pare my helium picks to two of the three (all have some strengths).
My highest conviction stocks in this space are TXP and Helium1. TXP in my opinion is more derisked. Their wild idea of big conventional reservoirs in turbidite sands on shore in Trinidad is now proven! And they have a 25 year contract to sell the gas at at a high margin to the NGC that has the responsibility of building the pipeline extensions to the well pads. The only risk is execution of the development wells and there is major upside in the ongoing exploration program.
Helium1 is maybe more exciting overall - are they really going to find a globally important resource that will provide 10 percent or more of an increasingly important commodity - for the next 100 years! That is truly wild stuff. And we are watching it unfold in real time after many years of necessary preliminary work. Does not get much better than to have a seat at that show.
I appreciate the insights on the rig-can't wait until its here and at work!
Xav moonan looks happy and relaxed.
They should have most, if not all of the seismic now.
I did ask him on Twitter how long it would take to interpret, the answer was almost straight away as “we know what we are looking for”.
So I am assuming he hasn’t seen any surprises?
OT,
Hi Scott,
We also share HE1, I bought shortly after the IPO.
After a lot of DMOR I have picked up some PMG. We all know about TC’s legacy in this space!
Don’t know if you have given it another glance following it’s recent run.
Happy for you to post over there or not bother.
Good luck with your investments
Trek
It is a Canadian rig and it is modern and high tech and maybe some of the crew are experienced Canadian operators, supplemented by local talent of course. Drilling has really progressed since the 50's and 60's. (needless to say). I own a couple of Canadian oil and gas companies of different sizes. Advantage is a small one. Ovintiv is a big one. They are amazing drillers. Ovintiv takes 9 days to drill 10,000 foot wells with 1 mile laterals. They just reported 55 wells in a row without a sidetrack at one of their main areas of focus. We don't have to do anything like that in Trinidad. But TXP can really have massive improvement from where they are operating now. These wells are into huge conventional reservoirs that can be drained by a few vertical wells with no fracking. That is not to say they are not complex with the high pressures but they should get better and better at doing this. They have learned from Chinook and from Cascadura Deep and from Cascadura1-ST. This new rig should be a step change in operations. There is nothing like it on shore in Trinidad.
The only thing that disturbs me a little bit from that tweet is the amount of drilling problems (stuck pipe, blowout, etc.) drilling into the Herrera. Granted, a lot of it is from Shell 50+ years ago. Couple with formation damage on a couple of our wells. Hopefully our boys on the drilling side have learned and can manage the mud weight to provide well control, without being too heavy and encroaching into the objective formations.
You mean Xavier in front of the old Royston well with Riga parts on a seminar truck trailer with a big mobile crane behind it.
RIG IS ARRIVING AT ROYSTON !!!
Tick Tock Shorters, you really sitting a on bomb you really should disarm before it blows you into space like a billionaire. But unlike the billionaire, you’ll be a broke *** trembling sack of meat in a state of shock. You’re new nickname will be Poor Fella.
More photos on XM Facebook story of OL-4