Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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Lea - I guess the new management actually want to run the company rather than run it into the ground.
"so I'd guess $5-10m per well?" Be surprising if any well was that cheap, let alone one in difficult country in W Africa but perhaps that was what the old management at Bowleven thought before blowing $100m on Bomono to come up with gas flows of c 6mmcfd
Oh, and we are selling about 6 MMscf/d currently.
Lea:
From my post of 8th June:
'...this was from Q4 2020 update:
'La-108 Remediation work was completed mid November 2020 and during initial testing the well flowed at the 19 to 20 MMscf/d limit of the surface equipment, with a Flowing Well Head Pressure (FWHP) of 3,580 psig. The full potential of the well is highly likely to exceed the capacity of the plant, which is 20 MMscf/d.'
We have 3 more Logbaba wells producing gas....'
Don't know the cost of drilling Matanda, but they are shallow wells, onshore, accessible, so I'd guess $5-10m per well?
"who is going to buy the gas from Matanda as we have more gas now than we can use and we don't have enough gas customers now , so where are they going to come from.?"
Leaving aside Matanda, how much is being produced from the existing well(s) and is there capacity to increase production there without further expensive work?
Any indication been given for likely cost of drilling Matanda?
And then Foo was summarily booted out of the company.
Jed. Three AGMs ago, Foo was telling a small group of us afterwards that he was hoping they would be doing at least 100 mscuffs within 18 months to 2 years.
Given that we are operating at about breakeven, cash cannot be thrown about willy-nilly. G&A has been reduced considerably. Thus the company must be very confident that they have a market for that gas - as is New Age / Bowleven, working on the Etinde FID, and have gone for a domestic solution (sell to Cameroon) rather than export.
Again very good points!
Absurd to drill anymore until we have customers to buy!
I guess it all does depend on the drills and how much gas is there, but the bigger question is who is going to buy the gas from Matanda as we have more gas now than we can use and we don't have enough gas customers now , so where are they going to come from.?
Even 5 years ago Foo said we would have 40scuffs a day but we could never find the customers, so same old problem.