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Looking forward to more Short Position Closures here in coming days and of course the Dividend Payment next week on the 22nd.
Found the comments below interesting. A new government this year which could go either way and in an area already awash with gas.
Im not saying its not brilliant but its not quite as easy as if it was in Norway or NS.
fingers crossed that with a huge global partner all will be well....
"While Layaran-1 benefits from negligible reservoir CO2 and improved reservoir quality, the challenge lies in developing a resource of this magnitude," Harwood said. "With local demand constrained, Mubadala will need to explore new markets, potentially through improved connectivity with the rest of Sumatra or by restarting exports from the mothballed Arun LNG plant."
He claimed that pipeline connections to Singapore, Malaysia or Thailand would be under consideration, although the Sumatran/Indonesian authorities may push for domestic sales.
Dr. Munish Kumar, senior analyst for upstream at Wood Mackenzie, added, "The success of this endeavour will test the efforts made by Indonesia's authorities to streamline processes and create a more favorable investment environment. The upcoming installation of a new Indonesian administration in late 2024 adds an element of uncertainty, but the discovery of gas and condensate at the Layaran-1 exploration well is an exciting development, placing Indonesia ahead of Guyana, Namibia and Malaysia in terms of discovered resources in 2023."
Theres been that many majir discoveries in the last 2 years the Rockerfellas claim to fossil fuel seems to be teetering g on a knife edge
Trump gets in be a freind to oil but you'll see the mkt flooded and the price down
But her hoping it goes up alot more b4 that happens 😉
Agreed, Andaman easily has the potential to become another Qatar+, back to back discoveries look enormous, returns here will be extremely lucrative overtime.
'Game-changing': Mubadala Energy confirms another giant gas discovery offshore Indonesia
Back-to-back discovery with potential for more than 2 trillion cubic feet of gas-in-place positions South Andaman 'as one of the world’s most important gas plays'
https://www.upstreamonline.com/exploration/game-changing-mubadala-energy-confirms-another-giant-gas-discovery-offshore-indonesia/2-1-1642620
If we are talking about needle moving events, LBEs prospect is bigger and with a 10m mcap...go figure that one out
I especially like this bit…..
“I am confident we can realize the full potential of this block, in line with our commitment to support the government’s ambitious development timeframes.”
Don’t feed the Fish…….
oil struggling yeilds and $ flat will yesterdays news give it a boost
bit **** pooryesterday considering
Truly “Game Changing” discovery here, hopefully we now have a second Qatar in our hands!
** UAE's Mubadala Energy announces that the Tangkulo-1 exploration well has made significant gas discovery on the South Andaman license in which HBR holds a 20% interest
** Co says this follows another recent discovery from the Layaran-1 offshore exploration well in South Andaman in December 2023
Mubadala Energy makes second “game-changing” natural gas discovery offshore Indonesia
(WO) – Mubadala Energy announced another “substantial” natural gas discovery from the Tangkulo-1 exploration well, drilled in South Andaman, about 65 km offshore North Sumatra, Indonesia. This back-to-back discovery, combined with the company's earlier discovery at Layaran-1, has the potential for over 2 Tcf of gas-in-place and positions South Andaman as one of the world’s most important natural gas plays
The natural gas discovery marks the second deepwater well operated by the company. Tangkulo-1 was drilled to a depth of 3,400 m in 1,200 m water depth, just a few months after another major discovery at the Layaran-1 well, also in South Andaman.
The Tangkulo-1 well encountered 80 m of gas column in a good quality Oligocene sandstone reservoir confirmed through an extensive data gathering campaign that includes obtaining a full core of 72 m, wireline logging, sidewall core, pressure and fluid sampling.
Utilizing a new Drill Stem Test (DST) design, the well successfully flowed 47 MMcfd of excellent gas quality and 1,300 bbl of condensate. Although testing was constrained by testing facilities, the estimated well capacity is 80-100 MMcfd and over 2,000 bbl of condensate.
Mansoor Mohammed Al Hamed, CEO, Mubadala Energy, commented, “When added to our recent success at Layaran-1, this game-changing discovery promises to transform Indonesia’s and Southeast Asia’s energy landscape and demonstrates that South Andaman is one of the world’s most exciting energy plays.
By working with partners and harnessing our world class technical capabilities, I am confident we can realize the full potential of this block, in line with our commitment to support the government’s ambitious development timeframes. This news also strengthens our ability to play a proactive role in the energy transition through our gas biased strategy.”
With an 80% working interest in South Andaman, Mubadala Energy is the largest net acreage holder in the area. In line with company’s gas-biased strategy, Tangkulo-1 is an important pillar in the cluster’s development story, with the discovery unlocking further potential in the southern part of the block and indicating an additional multi-Tcf of prospective natural gas resources in nearby structures.
Mubadala Energy announced its first discovery in the cluster in Dec. 2023. The Layaran-1 exploration well, roughly 100 km offshore Indonesia, successfully flowed over 30 MMcfd of excellent gas quality, according to a company statement.
Two combined discoveries here are enormous, totally game changing for Asia landscape, and of course HBR.
Indeed, Mubadala website states, "Discovery with potential for over 6 TCF of gas-in-place marks a major development for the Southeast Asia energy landscape...."
The only trouble with the link is they have the Gas in place wrong according to Mubadala...!!!
Kokomo,
Thanks for the link, I do like "With potential for over 2 TCF of gas-in-place, this positions the Andaman area as one of the world’s most important gas plays ..."
aimo & dyor
Dan et al, try not to get into discussion with Jackasse, as it knows nothing about upstream O&G plays and only wants to regurgitate propaganda about anti-vax and promote confrontation on our BB.
We both know how companies in this sector are valued and how reserves play a critical part in that. HBR is moving forward on several fronts and at speed. All good in the HBR camp afaic. atb
aimo & dyor
Second major discovery is even sweeter!
https://aogdigital.com/news/513653-mubadala-energy-makes-second-major-gas-discovery-in-indonesia
Not really a common sense answer tho is it just more waffle 😉
Maybe not just the UK but that doesn't make producing in the UK any more worthwhile while the tax take can be over 100%, particularly as there's an end date when tax will go back down so it would be silly not to cut UK production for a few years and see what happens. I'm sure other countries which steal profits in the same way as the UK get the same treatment, it's nothing personal just common sense.
Exactly that not just the uk is it tho or should we all carry on with the make believe ffs 😂
“Outstanding News, an incredibly huge discovery here for Asia, and as stated by others, “now soon to be FTSE 100 HBR is clearly firing on all cylinders”, so thank you HBR team!”
This will easily be in the £5-£6 range minimum by the year end, it’s currently just way too undervalued IMHO.
Whys production down on what theyve got could have trillions of barrels but if your not going to produce it what difference does it make 👀
----------------------------------------------
What's the point of producing in the UK when the govt take any profit?
Outstanding News, an incredibly huge discovery here for Asia, and as stated by others, “now soon to be FTSE 100 HBR is clearly firing on all cylinders”, so thank you HBR team!
Whys production down on what theyve got could have trillions of barrels but if your not going to produce it what difference does it make 👀
Does that equate to just over 1TCF Net to HBR?, large discovery,s only get bigger!!!, very nice!!
World and its cat making massive discoveries fossil fuels not so fossil after all😂
Absolutely massive discovery here with our extremely rich/professional UAE partners Mubadala Energy, another fantastic update by HBR now firing on all cylinders!
And on another interesting note, new upcoming FTSE 100 HBR will also become a very respected and viable challenger here to Equinor from Q4 onwards:
Bloomberg
Europe’s Gas Supply Once Again Hinges on One Company
Equinor now plays an outsized role in the ups and downs of the continent’s gas prices
When the world’s top gas traders met in late April at a canal-side hotel on the outskirts of Amsterdam, the atmosphere was business-as-usual: coffee, croissants and wrangling over deals for the upcoming winter. Then came news of a leak at Europe’s biggest liquefied natural gas plant, located above the Arctic circle in Norway.
The problem — discovered during a planned test of the facility’s safety systems — was quickly repaired, but not before it caused a momentary spike in the price of natural gas. Back in the Netherlands, it served as an uncomfortable reminder of the power of a single company, Equinor ASA.
In the more than two years since Russia invaded Ukraine, sending energy prices soaring, the Norwegian oil and gas giant has quietly picked up the crown that once belonged to Russia’s Gazprom PJSC. Norway now supplies 30% of the bloc’s gas; Gazprom provided about 35% of all Europe’s gas before the war. And of the more than 109 billion cubic meters of natural gas Norway exported to Europe last year — enough to power Germany until 2026 — roughly two-thirds was marketed and sold by Equinor.
So long as the bloc continues to depend heavily on fossil fuels, Norwegian hydrocarbons will be essential to keeping the lights on in Europe.
Equinor’s visibility “dramatically changed with reduced flows from Russia,” said Irene Rummelhoff, the company’s head of midstream, marketing and processing. “There was a point in time where [Europe] almost took us for granted. That is no longer the case.”
The company’s new prominence has also raised questions about whether European leaders are, once again, putting their countries at risk by relying too heavily on a single supplier. Although Norway is perceived as a steady trading partner with a long and consistent history of delivering energy to Europe, extended outages and its handling of maintenance challenges, both of which affect energy prices, have had ripple effects across the continent.
https://www.bloomberg.com/news/features/2024-05-13/equinor-how-norway-s-gas-giant-quietly-took-over-europe