We would love to hear your thoughts about our site and services, please take our survey 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.
I am fully there. The initial indications were that Casca Deep would produce at 30-40 million a day and there was no indication that there was any problem with the well bore. Paul clearly implied it was a much better well than Casca 1-ST. Now I am fully aware (since I am there) that there is a lot of additional pay that was not completed or tested and that additional development wells including ones targeting the discoveries at Casca Deep could easily push Cascadura overall production to 200 mmcf/day.
But the actual production from the Casca Deep Well is less than expected, less than either of the zones tested at Casca1-ST, less than the one zone they will produce at Casca 1-ST (can’t produce both because of size of pipe). Plus the well bore at Casca Deep was injured by drilling and they “are confident” it will clean up and produce at 22-24 mmcf/day. All that is much less than I expected from the initial reports about that “work class” well. I believe it is a wounded world class well that did add some info to what was learned at Casca 1-ST (remember the two wells are 900 feet apart and drilled from same pad). But the final report was a little discouraging. Maybe there was a little relief bump up because it wasn’t as bad as Chinook, but that bump was not back to where it had been pre-Chinook results, and it was not sustained. Really it is hard to argue that the final Casca Deep results were not below expectations from the preliminary results and discussion thereof.
The idea of discounting the results from Cascadura Deep well has been mentioned many times but is not correct.
Why didn't Cascadura Deep final results get huge positive response? Mainly because they had already gotten credit for even more than it proved to be in the end. They talked about over 1000 feet of pay, world class discovery, best well yet. So that was all baked in.
Then we learned that production from the tested zone will be less than either tested zone at cascadura1-ST well. And also that the well bore was injured, but they are "confident" it will clean up and produce at tested rate. Why should mostly negative stuff warrant a jump compared to what we thought we already knew.
I am hopeful that the new minister will bring a sense of urgency to getting more gas to market. Hopeful.......
https://www.zerohedge.com/commodities/oil-300
I believe I might have seriously underestimated a future fossils' scenario.
My excuse: funds are limited.
!Hilarious. I can top both:
In Zim, I have been known to water the garden in a heavy thunderstorm.
In SA, water shortage? What water shortage? But, boss, there's water in the pipe!
Back to reality . . . I suspect a grapevine leak will precede heavy trading activity here.
So, I flew down here overnight, and filmed some of the Royston Road construction. Now, I’m not going to point any fingers or make colonial remarks, but I think you can see for yourself that there is a lack of planning and leadership on this job site.
https://www.itemfix.com/v?t=d1amln
Dear Monkey,
I've seen more than one born-in-a-backoe-bucket-on-a-wellsite rig hand from oilfield redneckville, crash and burn in Trinidad after expressing similar colonial sentiments to your own.
I'd like to see you go down there and try actually, with that attitude, and see where it gets you.
Chill Bro.
You can't stop the rain, (Credence Clearwater Revival)
Read 'Don't Stop the Carnival, by Herman Wouk.
Peace.
@ 12:00 - Although difficult to do so, it's a time to relax. I am in a similar position on three other AIM stocks. Prefer to be in sound projects rather than the HURs of this world.
Wouldn’t say Paul does tbh scott, cascadura deep was very conservatively perforated after chinook F up.
If it was not covid time there would be more senior people from Calgary spending more time in Trinidad. That said Paul does have a lot of confidence in the people on the ground in Trinidad. That team hopefully has benefited from increased responsibility and their gain in experience in the long run may prove to be an asset. The company clearly has to make some things happen over the coming weeks and months.
The stock price is getting pounded because the operational team in Trinidad is performing like a bunch of drunk baboons.
Gonna have to go down there one day to take a look, but it seems that some seriously simple tasks like building a road, the very simple processing equipment for Coho, and getting a rig refurbished to drill a well are being performed by absolute ******s.
Don’t understand if it’s a country wide thing, or just limited to the sub contractors and the persons responsible for running them.
I mean, I don’t expect things to be on the level of the way we do things in the North Sea and surrounding producing countries, but maybe what we need here is a bit less local content and some more disciplined foreign content with a whip to apply something more than gentle pressure constantly.
Big picture still intact, but extremely frustrated about what seems like a string of poorly planned and poorly executed basic construction projects that have nothing to do with geology, geophysics, or drilling. These functions are not core to TXP, but there is at least one person there running these projects that needs to get fired and replaced.
Looking forward to that second rig coming with a top drive and better pumps plus down to 15000ft so watch out kraken as we're coming for you and the rest. Can you imagine if Royston is good and kraken underneath is bigger. The Holy Grail.