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Chunky trades, do you think they are retail? Maybe not.
Sp ticking up, been running some dummy sells. Good to see the large trades yesterday were buys. I wonder if we will get a RNS when TSX is open as opposed to 7am. I know the rest have been at 7am but just a thought. Trek, trying not to think too much!
https://youtu.be/iXdq65xzsus
This may help!
Trek/IJWT; Iam no expert but sat through many a drilling conference call as the client; Anyway I think casing needs to be run in some form to complete the drilling process; its use to provide integrity to the drill typically to prevent a "cave in" and allow Mud to circulate to return cuttings and provide well security. These Driller have their own language! Some outrageous! Anyway reckon good stuff today.
Hi Trek,
I'm not an.ops guy am afraid, I'm a deal jockey on risk in the city.
My feeling is the production casing is done at the time and means a wider drill to put down a stronger pipe casing which can cope with production. It is done as the drill goes as to retro fit wouldnt give the strength to the pipeline I don't think. My understanding is it forms the casing around the drill bore.
Expecting a big blue day here. Next week firecracker. Multibillion barrel asset, game changerr for ECO.
IJT, or another knowledgeable ops guy, re productive casing, is this set from the start of drilling or is it added after the drill is underway. So could they have been prepared for casing and then after x number of days when they may have had indications of oil bearing sands decided to lag the casing. This may, if possible, have been the intention and explain the longer drill lead time given but that said the RNS only refers to drilling operations being underway. The source of the casing is from a media interview with Gil. I guess it would not be included in an RNS as ‘drilling operations’ covers all eventualities. Trek from oil room 101.
To complicate the typical drilling timescales, the Orinduik block is shallower than Starbroek, so drilling to target depths quicker?
I'd have thought Hess and Exxon have been laying production casing in most of their wells given the prolific discovery pattern. You do it because you're expecting a productive well not for fun or ****ing away funds so it must be a very strong sign.
Hence, I'd say the 20 days mark still seems about right but as a first drill I dare say they want to do some imaging, chromatography and other sampling/testing to see what they have.
The Tullow.update seems perfectly timed but may take a bit longer. End of month is 27 days and with another zone to hit between then and first week of August news should def be forthcoming.
Be great to see it next week though.
I have been looking at TLW historical wildcat drills, they have always provided a ‘well update’ prior to reaching target depth and completion of well operations in the event of a discovery.
The latest I would hope for an announcement before being concerned would be the 5th August. But for the reasons stated earlier, next week is going to be a big week.
I guess the message I was sending in my post was that it is possible to be in the pay-zone over the weekend and I would imagine they would RNS or it would be announced in the Guyana media.
I have some experience in drilling but only Gas wells in the SNS when I was field OIM; And don't think the casing runs would make that much difference however would welcome correction if wrong. And remember this drill ship took their time to spud and where we are now really is anybody guess.
I got interested due to the volume increase, seemed a bit of a coincidence? TSX doesn't seem to have reacted; Think the shares can cross the pond in Aug. GLA.
The whole oil world is looking at this drill including the government of Guyana, tight hole or not, they won’t be able to keep quiet in the event of a discovery.
22 days seems about right, but like I said before, if they are laying production casing how much will that delay the drill to target depth
TLW update next week which is roughly 20 odd days - coincidence or not?
OK not ‘must’ - what I mean is that, to me, it would be a slight red flag if we only get an RNS at the end of the guided 40 day period...
For my education, how long does it take to evaluate each play ?
Trenz, get a grip. MUST be taken as a bad sign.... what a load of ballacks. Statements like that just highlight the lack of knowledge of drilling operations. Jesus.
100 percent agree @wallact. No RNS next week must be taken as a bad sign. Strict obligation on Eco and Tullow to release immediately when in possession of price sensitive information, which would would beg the question why...
Thanks for explaining trek. I see that at the time the sp was below the bought level making it a buy.
Interesting to look at it in the reverse order; If an RNS is lodged soon this will go crazy, if however we trundle on to the Cretaceous play without news then its a tense time. IMO (wont be able to concentrate on the Open this weekend).
Looking at Yellowtail and also comments today from the Hess CEO suggesting that majority of wells are drilled to depth within 22 days. I think it’s pretty safe to assume an average drill rate of 250m a day.
As such on Monday morning we could be 4500m deep, with the first prospect at 4300m, next week could provide fireworks!
So yes, in anticipation of this, tomorrow should be quite exciting.
We know that Gill has referred to the drilling estimate as conservative and I believe in the event of a discovery, like so many other oil discoveries, this price sensitive information will be reported to the market in real time.
Should be interesting tomorrow.
I expect the SP to gap up soon. This will give the MM more profit if demand comes through. So basically they fabricate a spread so the shares sold on the way down to 70p can only be bought at say 78p so they could miss out a few pence in the middle in one go. Trek
Hi, anything over 72p from 08:00 to 10:09 when the order would have been filled was a buy. So that makes it a buy. As the float would be quite high off the back of recent profit taking I would suggest the stock was reasonably available to fill that buy. Trek.
How do you know it’s a buy jungmana? I know we can’t trust the red and blue.
Does the 1 trade backed up by volume signify news!
Yes the 250k is a buy
Something is definitely happening in the background.. Next week we could see both hammerhead and our own initial results