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Don’t think they can update until the farm out is complete which is dependent upon the license. Speculation again, but if I were to bother making a road to a drill site I would know when and from where the drill was coming from.
we need a update Smudger63 so we can move forward, you correct any crumbs is a bonus :o)
All good stuff smudger, thanks and keep it coming :)
One things for sure (I know I've taken up a lot of air time today), the BOD need to throw us a bone!
It's purely speculation from my side but these are 'Onshore wells' - equipment requirements are not too dissimilar to our needs (wouldn't you think). If we are to be timed and linked with this drill our wonderful BOD should inform us.
Have a look at Sakson client list, Dodsal are on there - be nice to see ARA there soon eh?
http://www.saksongroup.com/clients
thanks Smudger63 :o)
VS, as mentioned earlier keep an eye on Dodsal, according to this article they have satisfied the PSA and will be mobilising to drill during this quarter - could an indication of when appropriate rigs will be in the area. Purely speculation but potential oil will sort out the pecking order
https://tanzaniapetroleum.com/2019/10/02/dodsal-group-prepares-to-drill-three-wells-on-shore-tanzania/
Smudger, certainly will keep an eye out as you say.Thanks
Furthermore, I believe that our PSA is very attractive due to the oil shows. The TZ authorities mentioned the need to push potential oil discovery prospects during the recent Oil & Gas conference. I'm not ramping, just highlighting information that is out there in press . DYOR of course. GLA
VS, worth keeping an eye on all the other players in TZ, the paths will cross when the PSA's are done. We issued a statement regarding Sakson winning the CK-1 drill with a drill share with Heritage Oil. Don't forget our very own Linda Beal is a NED for Orca. Her latest appointment I believe is i3Energy plc.
https://markets.ft.com/data/announce/detail?dockey=1323-14228923-59KBCVI3RMHQPBC8OJIH25J7EK
Thanks Smudger, let's hope we will be soon. Understandably, patience is at a premium.
ATB VS
I believe Dodsal have had the green light on a PSA recently. Orca are waiting on the Songo Songo PSA and I'm almost sure I read somewhere that Sakson would be behind the drill.
http://www.orcaexploration.com/pdfs/ORCA-2019-Nov-6-press%20release-Reserves-Report.pdf
not just the huge find...also the ch-1 Jurassic secondary target below which could yield a bounty
"Some PSA issues appear to contradict or overlap with other contracts" Who know's but ARA will be looking for the 25 year license and the EPS sign-off and not just the license extension to drill. We already have a huge find and need to move it into production.
You can understand where the time lines came from and why the statement of confidence that indicated the extension to the long-stop agreement may not be needed. Something must be bubbling away in the background. I would expect all aspects to be under discussion, ARA will want signing off of the whole shebang - 25 year license, Early production system and Multi- drill agreements. The matter of KN-1 monies owed / tax is between AEX and TZ authorities and may form part of a separate discussion. Either way, I'm hoping for more than just a PSA RNS when that little red dot appears.
Has any company had the green light from the psa reviews yet or will TZ government announce the license awards en bloc at the end of the whole process?
I guess the missing word was "within three ". It does say "allow finalisation". Suggests things are close but who knows given the history.
It's a small crumb of comfort knowing there is a huuuuuuuuge LNG project suspended to allow PSA's to be finalised. Cannot be long now, surely.
So...even the likes of Shell are waiting for the psa process to conclude....and construction of LNG plant won't happen for 4-5 years... a lot hangs on these reviews
So the delaying the LNG HGA's in order to get the PSA's out of the way seems to have worked.
https://www.thecitizen.co.tz/news/Why-liquefied-natural-gas-project-faces-delay-in-Tanzania/1840340-5356574-u89rt7/index.html