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Well spotted lets hope this one is a gusher.
Drilling about to recommence at Jabillo.
Thanks,
Celtics.
https://marad.gov.gy/wp-content/uploads/2021/06/No.-57_2021_EEPGL_Drilling_Operation.pdf
Not the same coordinates.
Jabillo will spud early june.
Should read jabillo even iam mixed up!
Or exxon wants to carry on with bulletwood check the coordinates.
My guess is they got kobei-1 and bulletwood-1 mixed up..
https://marad.gov.gy/wp-content/uploads/2021/04/Notice-To-Mariners-39-of-2021.pdf
Not sure what this means.
thanks,
Celtics.
So they spudded and moved off for maintenance; Seems a bit unusual?
Content to wait. We have 2 very high impact drills to be done this year with full carry by Total. Note, Sapote is very close to the source rock.
If one returns Commercial from Jabillo or Sapote, Exxon will very likely add another campaign for 2022 to progress exploration /appraisal, for which JHI will have 1 remaining carry by Total, and are fully funded for additional wells (wells not well).
Exxon, have indicated quite explicitly that Guyana is core to their business case and their intent to work at speed. Look at the number of drill ships that they will have contracted in 2H21 on Guyana exploration.
In my opinion, JHI's 4 well carry by Total is certainly the most appealing factor underpinning an attractive Risk-Reward ratio to WTE.
thanks,
Celtics.
Jabillo-1 will resume drilling in around mid to late May.
So result probably not until early July at best?
Operational Update from JHI directly - https://www.jhiassociates.com/media/bulletwood-1-well-results-and-jabillo-1-operational-update
Provides guidance on drillings operations /plans /timelines.
There is also an updated basin map - https://www.jhiassociates.com/guyana-basin
thanks,
Celtics.
Stena Carron at Jabillo-1 well site coordinates this morning. I assume drilling ops have started now.
thanks,
Celtics.
the carron is equipped with a managed pressure drilling (mpd), might be the subject for maintenance then.
It looks like they are spudding Koebi, then moving off to spud Jabilo, then some maintenance, then back to finish Koebi? Then presumably back to finish Jabilo.
“The Stena Carron has INITIATED (My caps) drilling of the Koebi-1 well in the Stabroek block. It will then move to the Jabillo-1 in the Canje block to INITIATE similar drilling activities later this week,” ExxonMobil Guyana Public and Government Affairs Advisor, Janelle Persaud said in a comment to OilNOW on Tuesday. “After a brief period of maintenance, the Stena Carron is expected to continue drilling of the Koebi-1 well in the Stabroek block.”
They can't drill full depth in 2/3 weeks which is why the dates sounded odd on the Mariner's. Doesn't seem an efficient way to do it, but maybe the maintenance is needed because something broke and they can't get deeper until it is fixed?
couldnt understand nothing from this article, they say the stena will spud jabillo this week, then they quote: ” ExxonMobil Guyana Public and Government Affairs Advisor, Janelle Persaud said in a comment to OilNOW on Tuesday. “After a brief period of maintenance, the Stena Carron is expected to continue drilling of the Koebi-1 well in the Stabroek block.”
Exxon have commented - back to back drilling
https://oilnow.gy/featured/exxon-conducting-back-to-back-exploration-drilling-across-two-guyana-blocks/
thanks,
Celtics.
Hydrocarbon presence on the Canje block has been confirmed with Bulletwood-1, and is further supported by Tanager-1, which is outward at a similar water depth to Jabillo and Bulletwood.
JHI Associates is fully funded for 4 wells (via Total farm out) and drilling of additional wells.
Note - additional wells and not well.
Effectively, JHI Associates are funded to drill >= 6 wells (one down already) and there are 2 known prospects remaining to be drilled in this current campaign - Jabillo-1 and Sapote-1.
Both prospects are confirmed as having a DHI. Trap integrity appears to be the main risk, not hydrocarbon presence.
Only one successful discovery is required to move the WTE valuation significantly, and with Exxon's exploration success performance in the region to date, I think that the risk to reward ratio is good here.
Other small/mid cap exploration companies that drill are often sufficiently funded for only 2 to 3 wells. JHI is funded for >=6.
thanks,
Celtics.
Third time lucky I hope. Interesting looking a the basin drill success, need a discovery in the ~ northern blocks. Fingers crossed.
Well i hope Stena Caron gets a move on its way to Jabillo 50/60miles ( unless its got a new strectchy, elasticated new drillbit onboard) because it hasnt moved off the Koebi site as yet.
Happy days.
That's a very nice surprise and SP is currently very low. Jabillo is 13.5 MMBOE net to WTE, which is huge for the market cap. Fantastic buying opportunity.
12p a share here is an absolute steal .Many multiples from this price by year end!
Wait and see it may be a mistake mariners notice was corrected b4 i remember.But iam an optimist and either way thing are moving fast offshore guyana.
Don, given #30 says it will be moving to Koebi-1 on 3 March and conclude 20 March (which is a very fast drill in itself?), and this one says it will start Jabilo-1 on 10 March and conclude March 27....it can't be in two places at once.
And this another very fast drill if dates correct.
I'm no pessimist, I'm very optimistic or I wouldn't be here! But a realist also!
Such a pessimist "strange and doubtful timing".
You guys what can i say ,think you know it all.
Still have the Stena Carron showing up 22m NW of Liza.
Very strange, what a suprise RNS.