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JBT Thanks - excellent balanced post. States it as it is without bias.
GL
IK
This is why it's important.
An announcement made by the Argentine government in early July 2023 has focused attention on offshore activities. Equinor and partners have been granted permission to drill the country's first offshore ultra-deepwater well, Argerich-1, in the Argentina Basin's CAN-100 block. Most of the country's hydrocarbon exploration is concentrated onshore (with both conventional and unconventional plays), and in shallow shelf waters of the Austral and Malvinas basins. The Argerich-1 new-field wildcat well (NFW), in a water depth of over 1,500 m, will test a new exploration frontier.
The high expectations rest for Argerich are founded largely on the recent deepwater exploration success in Namibia's Orange subbasin, where Venus, Graff, and Jonker were discovered. The discovery of more than 6 billion barrels of oil equivalent (boe) of recoverable resources in the last two years in the south region of the African conjugate margin has reignited interest in the southern Atlantic coastal margin. Over the last four years, international oil companies and independents have built interesting positions in the Argentina, Colorado and Pelotas basins in Argentina and Uruguay. TotalEnergies, Shell, and QatarEnergy have all had success in southern Namibia's deepwater and are currently present in the Latin America Atlantic coast basins.
The Argerich-1 NFW is operated by Equinor in partnership with Shell and YPF and planned for the end of 2023. It is considered to be a high-impact well (HIW) with potential resources estimated at 1,100 million boe. The target is expected to be the Cretaceous basin floor fan sandstones, similar to those found in the Namibian discoveries, that remains untested in the Latin American Atlantic margin. TotalEnergies drilled a NFW in late 2016, the Raya-1 well, in deepwaters of Pelotas Basin targeting the Oligocene, however the result were disappointing. The well was plugged and abandoned after being declared dry. To date, the only evidence of hydrocarbons in exploration wells in this general area have been from shows seen in the shallow water of Colorado Basin. Argerich-1 results will likely shape exploration in the region for the foreseeable future.
Source: S&P Global Commodity Insights.
Uruguay : Raya-1, at a water depth of 3,404 m that was plugged and abandoned by TotalEnergies in 2016. Raya-1 was drilled to an approximate total depth (TD) of 6,000 m to target Miocene turbidite with prospective resources that was said to be between 500 MMboe and 1.5 billion barrels of oil equivalent (Bboe) that was identified through 3D seismic but proven to be dry due to lack of effective migration pathways between the Aptian source rock and the previously identified Oligocene reservoir interval, according to reports from post-drilling analysis.
Source: S&P Global Commodity Insights.
Equinor rolls up its sleeves for imminent Argentina exploration well
Drillship Valaris DS-17 is en route to spud closely watched Argerich-1 wildcat.
https://www.upstreamonline.com/exploration/equinor-rolls-up-its-sleeves-for-imminent-argentina-exploration-well/2-1-1633211
And before some village idiot posts some rubbish about it not being relevant .. take google of S&P Globals Assessment of the Namiba, Argentina and Uraguay basins - including ours
JohnBriggs, why don’t take your own advice and “mind your own” since you’re not invested in CEG? Still posting late at night, I see. No one to give you hug? Maybe dirty a pillow dirty with tears cause if the miserable life you must lead wasting your time on a share you’re not invested in. Why don’t you try volunteering for a charity organisation, you will feel good about yourself, trust me?
The deal with Cheveron will get done and this is probably the best position this company has been in for sometime. A lot of industry excitement around this block….
Willec thanks for that background info.
Interesting thing for me is that Namcor only got a 20% share out of Chevron!
I know Namibia probably get tax revenue etc to take into consideration on the deal
but nevertheless - Well done Eytan for us @ 40%!
GLA
IK
Getting involved in Namibia
https://www.ogj.com/general-interest/companies/article/55021812/chevron-joins-license-offshore-namibia-as-operator?o_eid=0991J9984523B8O&oly_enc_id=0991J9984523B8O&rdx.ident[pull]=omeda|0991J9984523B8O&utm_campaign=CPS240424034&utm_medium=email&utm_source=OGJ+Daily
@Mad most are paid trolls/bots to drive engagement or the sp down. Briggs is a special case of tragic though (trolling a share he has no interest in at 1130pm—cor dear).
His trolling aside—why wouldn’t people filter someone like Briggs, considering he has been wrong about absolutely everything?
i”M a diSseNtiNg vOice mUMmy
GLA DYOR
I'll never understand why some people are on these boards or investing in aim based companies, I'm just glad there's a filter.
ATB GLA DYOR
You'll be waiting a long time for any of that to happen, Sam...
I actually think that's John Briggs is not only right, but I am going to take his advice and go even one step further.
I am going to wait for the Chevron payment to be made, the 3D resuls to be processed, the drilling to take place and end and buy my shares after any oil has been discovered.
By that time the share price will be very high, but every investor knows that you must buy a share when the price is high.
In4cedros
They're just a couple of counts
Best ignored
JohnBriggs - see the quote from your most recent post below:-
‘ HIgh risk, low chance of reward. Avoid like the plague until Chevron puts money where its mouth is and post consolidation’
Does that mean you’ll be filling your boots with shares post completion by Chevron of the $12.5 million payment, after the subsequent consolidation?
GarryGraham - Surely if you are claiming to preach to the naïve investors on this high risk Oil Exploration share you wouldn’t omit the positive ramifications for the SP when the consolidation completes as mentioned by jbt! Quite frankly Garry I’m doubting more and more that you’re risking grandchildren money in this - surely if you thought you would lose shares at the rate of 50:1 without a compensatory uplift in SP you’d have sold out !
Below is one of my previous posts about timid trolls - beware particularly those that share their personal information claiming to be widow/orphan / investing in high risk AIM for grandchildren!
in4cedros
Posted in: CEG
Posts: 5,844
Price: 0.145
No Opinion
Timid Trolling!
25 Mar 2024 16:45
Willec - GarryGraham is an interesting case study on the Trolling spectrum - as the heading suggests he is a Timid Troll - instead of slating the company he pops up from time to time, makes some neutral/ positive comments, whinges a bit then slips in the negative comment.
I remember the pattern from the lead up to the Bahamas drill - found it difficult to believe he’d actually invested having regard to his state of anguish he’d been in then, when it failed, the buyers remorse kicked in big time!
If his posts are genuine it’s difficult to understand why someone with that attitude is prepared to go another 10 rounds with the company on a new drill venture whilst pooping their pants at each stage.
Furthermore in such a scenario why highlight negatives if you are genuinely invested - by way of example I give you fairly recent post where instead of just saying the Chevron deal is not complete until everything is agreed, including Government approval he decided to speculate that Chevron had included last minute caveats in the deal. He may be correct but why introduce that little bit of extra speculation based on zero knowledge - I could easily speculate that Chevron have done so many deals historically they have a rigorous tick box list to complete and want to see all the evidence before they even release the news they’ve done a deal because pulling out at the last moment suggests they didn’t do proper due diligence in the first place which is not great for a Super Major!
I wish all shareholders success in this venture - there’s plenty of proper trolls about - they don’t need your help!
Hello Garry, are you trying to say DYOR? Also you forgot to mention that as/when the consolidation happens the share price will also increase 50 fold. This is now a very different company compared to the BPC/CERP period. This is AIM E&P it is always high risk, high potential reward if potential investors don't already understand that they shouldn't be here in the first place!
GLA
To any new investors, remember this is a very high-risk share. The odds are you will lose all of your money, as with most AIM shares; it is an extremely high-risk/high-reward share, and this is at the top of the high-risk bracket. It is a binary share. If Chevron Oil does not go ahead or find oil at commercial levels, as is often the case in virgin fields, you will probably lose all your investment. It is entirely pointless when posters on this platform compare areas in Argentina and other parts of South America to Uruguay Blocks 1 and 3. What matters is Chevron's drills for oil, and they find it in many hundreds of millions if not billions of barrels. In addition, every million shares you buy will only transfer to 20,000 when the share is consolidated in the next few months. Take little notice of what is written on this bulletin board by the same people daily and weekly. Take a measured point of view and be prepared to lose it all. GG.
Sintana up nearly 500% in 1 year
In the begining of 2022 sintana energy was the same...
A lot of investors that lost there money talked about columbia and i told them that this asset = 0 to me and the main asset will be the nambian blocks.
Here as a new investor i dont know very well the history of the other blocks but the blocks area 1 and 3 on the atlantic margin seems to be very good opprtonity.
We can earn from drills in argentina and brazil in the offshore blocks... Equinor is the next drill that we shuold look and wait for the results.
Accourding for what i read this well will test the same geologic play as what found in the orenge basin.
If the mirror image of namibia is true we can hope to good results this year!
I wouldn’t want any of the well behaved trolls on here to take any inspiration from the hate poster on the other channel, over 40,000 posts > 10 years, but it’s got to be a positive sign when trolls are so desperate they make stuff up !
12bn24 Apr '24 - 08:56 - 21218 of 21232
0 0 0
So everything depends on the Chevron deal completing in SEVERAL months time. This may not complete at all if Chevron decide the 3D seismics don't warrant a completion. This means your shares could end up with very little value at all and several months time things could change a lot. RISKY.
arrynillson24 Apr '24 - 10:26 - 21219 of 21232 Edit
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Disgraced Compulsive Liar 12bn - there you go again with your lying - why make up this shyte !
The Chevron deal is subject to approval from Uruguay Government, that much is true but why make up that it’s also dependent on seismic ?
Always the same 12bn - when you’re on the ropes you become more and more desperate - people on here know that - it’s why you’ve got a FILTER LIST LONGER THAN SCHINDLER!
I’m posting up below relevant paragraphs from the RNS dealing with the Chevron deal. The cost of 3D seismic is clearly not cheap, up to $15 million mentioned in the RNS.
Try and follow the logic here 12bn, BEFORE Charlestown financing announcement you were telling us daily, sometimes multiple times daily, that CEG were rapidly running out of money. How did you think that CEG would complete 3D seismic, before completion of the Chevron deal LOL!!!!!!
· Chevron will pay to CEG US$12.5 million cash on completion of the Transaction, these funds will be used to support the further development of the Company's business.
· Chevron will carry 100% of CEG Uruguay's share of the costs associated with a 3D seismic campaign on AREA OFF-1, up to a maximum of US$15 million net to CEG Uruguay.
· Following the 3D seismic campaign, should Chevron decide to drill an initial exploration well on the AREA-OFF 1 block, Chevron will carry 50% of CEG Uruguay's share of costs associated with that well, up to a maximum of US$20 million net to CEG Uruguay.
Not absolutely true that it is rubber stamped. There are always hurdles and unknowns, but this is their first public declaration of intent.
IK Thanks, noted.
Nas - Real friendly word - the only reason I alluded to SIE is it is correlated to CEG.
If you talk about other stocks you give ammo to the defamers/disclaimers/Trolls etc. on here .
You do not deserve their attention so please beware mon ami.
XX
GL
IK