Member Info for Adon30

https://www.malcysblog.com/2022/01/oil-price-predator-pharos-uog-and-finally/

Hence why I posted on Char earlier this morning.
Char already have agreements in place for off takes. Now all those large companies and investors sitting on the fence will take notice of that and start looking at what else is available in the area or who they can cut a deal with and quickly before they are beaten to it by someone else. Big success story for Morocco.
Char still also have re-entry to anchors-1 to come as well so can see them making even further growth and sets them up nicely for their other projects.

Gas sands B “the lower reservoir being newly identified.” This is a significant addition to their previous analysis.

“no water-bearing reservoirs identified, materially exceeding pre-drill expectations.”

For info Chariot have announced a Significant Gas Discovery at Anchois-2 Well offshore Morocco. Further details in the rns

Rig is still there (6/1) and has not moved. Island defender next to it and still popping back and forth with supplies.

Repost of mine from another board for info. Also if people weren’t aware it was posted today that the newly drilled WD-4 well was producing and the two WD-8 wells had now been drilled.

With the current legacy drills ongoing I thought I’d have a quick look at production figures for the last few years. So below is the daily average rate for each year with 2021 based on the last 9 months.

2021 - 1344
2020 - 1392
2019 - 1825
2018 - 1718
2017 - 1375
2016 - 1301

So WD-4 online should see legacy daily back above 1400. And WD-4 continue as the main contributor to legacy production. WD-8 appears to be the producing area in greatest decline so the two completed wells online shortly will bring production back up there.
Will probably not see these increases in the Q4 report but will be in Q1 2022…. Hopefully along with first gas from coho…

Going into 'dry' season in T&T so need to make hay while the sun shines and all that....

(although was currently raining according to XM)

That's what they do in China. So the electric cars driving around are actually less clean than the fossil fuel ones

My HL died this morning... thought it was just my rubbish phone signal

40-60% of what flowed was oil

90% water means less than 10% oil. But we know that they perforated at the wrong point and will revise that going forward for greater oil output.

Despite on land delays in Morocco a drill is about to commence just off the coast. Chariots (CHAR) drill at Anchois has an imminent spud. The rig arrived yesterday after travelling down from north of Scotland and currently has supply ships in situ. So could be any day now for that one to begin.
One of the benefits of not having to enter the country even though the drilling costs a lot more. Be interesting to see what they have.

Last time there was a delay due to covid they found Mou-4…. I wonder what they’ll find this time??

Another drill, from the same pad (so no extra infrastructure), using a rig that could complete in under 30 days, at a cost of $3-5m, targeting 500m barrels in place (plus the currently being defined upper zones), flow rates of 1000bopd+ (maybe even 2000bopd), with a payback of around 4 months.....

Yes there are pipeline facilities across white sands. It’s been mentioned before several months ago.

Well Services 80 rig went months ago. Would like to see them use that rig though for the additional Royston pad targets once permits and approvals applied for and received.

Star valley rig needs to finish the legacy commitments. Second one (first at WD-8) should be complete next week assuming no problems. Then 3rd well at WD-8 before moving to the final one which I think was Coora (?).
Between them they should add a fair bit of extra production output to reverse the decline.

Then Cascadura EIA should be approved and bring the Star valley rig over to pop the 4 extra wells in there. The initial consultation meeting was Nov 10th so think that should be closing shortly and have everything stamped off by the Ministry by early next year. Would be nice to see an update on the EIA process and facilities timescale as at present with the current SP Casc and Royston are completely free ride.

Yes. May as well fill those big pipes and facilities that are going into Cascadura. Plus the extra condensate revenue

Notice that the presentation no longer has any mention of additional development wells on Coho.
All those are reserved for Cascadura and legacy oil.

Also, interestingly, the development locations at Royston are still also shown as Gas. Although no plan for them next year just further exploration with krakken etc.

Netback figures will be in the financial reports on the Txp website

Last flaring seen on satellite was on 28th. Nothing on the 30th but looked like equipment moving. Latest image for 3rd appears to show even less equipment.
Are they moving things out ready for the next stage of full production?? And also now looking at capturing this excess gas?
Hopefully hear some news this coming week…

Equinor sells non-op position in the Corrib gas project in Ireland for $434m:-
https://www.equinor.com/en/news/20211129-sells-corrib-position-ireland.html

"We have taken the decision to sell the asset to focus our portfolio, in line with our strategy, to capture value from the current strong market and to free up capital that we can re-invest elsewhere,”

I wonder what other projects they will be investing in then....