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If the find is deemed Commercial, then we can tout it Globally!
One mans scrap is another mans treasure.
Also, PMO are big hitters and see Gas has taking too long, I mean when you are doing deals for 650 million, 23 million is a drop in the ocean, so they can afford to walk away.
www.google.co.uk/url?sa=t&rct=j&q=&esrc=s&source=web&cd=5&ved=2ahUKEwiz6bHE0tjoAhXOQEEAHR9ZBpMQFjAEegQIAxAB&url=https%3A%2F%2Fwww.insider.co.uk%2Fnews%2Fpremier-oil-buys-assets-bp-21229025&usg=AOvVaw3SCgKMpQ2RPqT-qwuEI7bq
We soooo miss PBs knowledge. Massive loss he was to this venture.
. If condensate is commercial then the audience is not just producers on the slope"
Sorry for being dumb but can somebody expand on DWs comment.
Thinking out loud, the condensate gas may have something to do with the HRZ and the "vapour phase".
Wall says Basinski identified the potential for a ‘vapour phase’ in Alaska. A situation where you have reservoir liquids with lower viscosity than normal and so they behave like a gas and can flow at higher rates. However, when you get them to the surface, because of the pressure differential, they are 70%+ liquids which are more attractive economically.
I might have lost £30k yesterday, but at least this BB is finally free of Lefkosia, MILOH and salida LOL!
The rest of the doofus brigade have been filtered, and replaced by a whole load of green bars.
When you read PMO rns they state “hydrocarbons sampled were gas condensate which is more challenging to commercialise than the light oil the well was targeting “.
It doesn’t say it can’t be commercialised, so if it can be commercialised then our joint venture would own 100%, also joint venture got hrz samples as part of this drill. Maybe this is why DW isn’t too disappointed with the results and PMO walking away.
In case it gets lost, kip1975 post.
“ Moneyhawk, I’ve had a couple of replies to emails from DW this morning, the 2nd reply says “Happy with the fact we have all the acres back and another shot at a better deal supported by better quality data and a proven discovery. If condensate is commercial then the audience is not just producers on the slope”
Thanks kip... I was wondering that yesterday and probably what stopped me pressing the sell button. The drill was not all bad news and there was plenty of other interested parties in the farm out talks. Maybe with the increased data another farm out could hapoen. Plenty of shale drillers in the states could be looking at other conventional opportunities.
No doubt DW will be doing a pod cast interview or something very shortly.
Thanks for sharing that info Kip1975.
Not ALL bad then!
Moneyhawk, I’ve had a couple of replies to emails from DW this morning, the 2nd reply says “Happy with the fact we have all the acres back and another shot at a better deal supported by better quality data and a proven discovery. If condensate is commercial then the audience is not just producers on the slope”
Off out for a bike ride.
FYI 12.90% up - another whole week of this please.
Agree with that, the RNS has rather left us in limbo with no idea what the forward plan is now. Some clarification on this would be good.
Also clarification on whether or not PMO have any WI in Area A now. Can't find a definitive answer looking back through the RNSs and presentations. Only clear part on the deal is that PMO had the option to take over as operator on successful completion of the agreed work program. So we're still the operator, whether or not the work program is complete, they've not taken the option.
But the RNSs have also been written in a way that suggests PMO receive 60% WI by paying for the drill. Would have expected that to also be conditional on completion of the work program, but its not clear. As most who have been around for a while will know, Farmout Contracts are long and complicated, hence I think clarification on this is required before we can assume we've reverted to full ownership of whatever has been discovered.
An RNS is very like to land before the AGM and that should boost confidence ..,, long live the rise
0.35p paid - 60M traded
Even a few sentences Jiddy, just before the extended break coming up would be nice, hopefully DW still has a plan going forward.
I agree - let's have some words from the man, and see the whites of his eyes!
We need a plan and we need it PDQ.
If DW will go on the offensive.. Maybe do a podcast or two, let everyone know if it wasn't that bad after all? Need something to lift the flagging spirits here. I'm certainly less hopeful now.