Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Grimsby Town Nigel- you would know that if you are the horny handed working class northern boy you claim to be. Or are you a rugger-bugger (Union.of course) just like the rest the southern softies that you so envy because you only made it to grammar school and polytechnic...
Anyone for cricket?
Good post Charlotte, unfortunately Oz's brickbat re 4.8Tcf is pure speculation based on (as you are more than aware) GCE arithmetic.
Going to throw in a leftfield comment but isn't the tribalism fascinating, anthropologically speaking? Grh has essentially gathered a football team who brook no dissent that Grimsby United are a world class bunch of inflated pigs' bladder kicking!
Really Charlotte. The blokes shared everything barring the colour of his wife's knickers..
Cut it out lassie !
Be careful Charlotte you dare to challenge the Guru of PRD and it seems he can delve into your past investment history.
As I have posted before
it is my belief that there are TWO fields here:
One has to consider ...
depositional changes
AND
structural changes
I remain firmly of the view that Guercif is a Mighty and Energetic asset
Despite what some might think...
these come along VANISHINGLY RARELY in one's lifetime
Regards
GRH
4.8tcf on a conservative basis would still give more than the £27+ per share that GRH's Michael Caine came up with even including full dilution of around 380m shares in issue. That basically is just from one small area, Looks like this field is littered with all sorts of prospects as well .
Agree, far more agreeable to flip ideas with the numerate though and those with sufficient strength of will to vocalise scepticism and oppose the consensus.
The latest variant of PM over here has surrounded herself with sycophants, bit like GRH haha!
@Nigel. Yes for a lens, but this was a highly theoretical exercise just to demonstrate that this is nothing like one of SDX's 'puddles'. I will leave the detailed volumetric geometry to someone else, it's too late in the evening for me. I agree 3K psi is about right, assuming the same 500psi overpressure reported at MOU-1.
PS - I'm sure that I am not the only one here to be pleased that we are able to carry out a constructive and civilised discussion. Long may it continue.
Keith would you not go for a lens shaped formation rather than a cylinder? 3000 psi is a fair ball park number though.
On p.24 of the CPR they are using a gas expansion factor of 160. That looks rather conservative to me.
@Mick - not forgetting that this gas is overpressured. I don't know the temperature, so can't calculate the exact compression ratio, but my guesstimate is that at this depth it will be in the range 200-300 x the volume at STP.
So
volume (14M m x 300m)= 4.2Bm³
x porosity (25%) = 1.05Bm³
x recoverability (66%) = 693Mm³
x compression factor (say 200) = 138Bm³
x 35.31 (m³ to ft³) = 4.8 Tcf
This is just theoretical of course, someone needs to poke a hole in the ground and see what is actually there.
"p.11 "Safety case for possible 1000 feet gas column". 300m??? That's a whole lot of gas over 14km²."
That's a column as high as the Abu Dhabi Sky Tower over an area the size of Salisbury :-D
p.11 "Safety case for possible 1000 feet gas column". 300m??? That's a whole lot of gas over 14km².
Now imagine that geography repeated numerous times, please remember we have only scratched the surface of our License (5%)
The area is equivalent to 66 North Sea licenses, and we have only looked at approx half of one of the 66 area’s.
Possible 1,000 ft, repeated many many times.
The SP will continue to move up 0.25p to 0.5p per day increasing to about 15p ahead of spud, about a 85% uplift from here, not a bad return over the next 5 weeks and then we wait for testing/news.
MEM
I also like the the mention of the oil!
p.5 Nice to see a timeline to drilling that is only max 8 weeks away - not too much chance of going badly awry. JV is still being actively pursued, but PRD will get much better terms once gas is flowed from MOU-1 & MOU-2.
p.9 MOU-2 structural closure now increased to 14.33km² and gross gas column increased to 168m. Interesting that the P50 is given as 135.75BCF for net pay of only 21m. If this is uncompartmentalised as previously suggested, I would expect the actual net pay column to be a lot more than that, so a possible major upside.
p.11 "Safety case for possible 1000 feet gas column". 300m??? That's a whole lot of gas over 14km².
p.12 2nd well to target Jurassic an/or Tertiary within 6 months. Presumably as part of JV operations, hopefully MOU-NE.
p.22 Look at all those new prospects!! Quite incredible - will definitely require a lot of drilling, so JV will have to be set up before then.