The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
So we know that 1H Production from Jubilee averaged 28k BOPD NET, 71.7k BOPD GROSS
In order for us to hit the average guidance levels then, we need 36k BOPD Net for the full 12 months 36k (Jubilee) + 11 k (TEN) + Other non operated 14k = 61k (average 58-64 guidance)
Therefore we need to produce 40k NET 102k GROSS for the remainder 5.5/6 months of the year from JUBILEE Alone.
So I make the 102 - 71 average of an increase of 31k BOPD.
But we are nearing mid July, so it makes me believe that Kosmos update saying 115k BOPD to be more likely by year-end ramping up production in Q4.
What a year 2024 will be, 70 - 75k BOPD OIL Sales, Gas sales equivalent to 10k BOPD & hedging at low of 11k.
800-900 Million FCF IN both 2024. & 2025, enough to be debt free.
Exciting times ahead.
Gl all
Https://energycapitalpower.com/ghana-oil-and-gas-outlook-2023-2027/
The Jubilee South East field, situated in Ghana’s Cape Three Points concession area, is expected to average 37,000 bpd by the end of 2023, and is operated by oil and gas exploration company Tullow Oil (38.98%), deepwater exploration and production company Kosmos Energy (38.61%); the GNPC (19.69%); and South Africa’s National Oil Company (NOC) PetroSA (2.72%).
Meanwhile, the potential discovery of significant oil and gas deposits within the Ntomme Far West Development have resulted in the implementation of a pre-feasibility analysis of the field, with the drilling of a proposed well poised to commence this year.
India's ONGC Videsh Ltd (OVL) is waiting for clarity on the equity structure of a block in the Lokichar basin in Kenya from Tullow Oil before bidding
It’s a case of how much of the pie they want to buy.
Key word is “Number of interested parties”.
BIDDING WAR FOR OUR BLOCKS
“The prospective partners remain engaged and detailed farm-out discussions continue with a number of companies,” a Tullow spokesperson said by email. The company remains focused on securing a partnership this year.
GL ALL
ONGC Videsh Reconsiders Plan to Buy Stake in Kenya Oil Project
https://www.bloomberg.com/news/articles/2023-07-04/ongc-videsh-reconsiders-plan-to-buy-stake-in-kenya-oil-project-ljoi0d5b
This could pave the way for more institutional investors to buy in.
Gl all
https://www.tullowoil.com/investors/corporate-bond-and-credit-rating/