RE: SAVP1 Jan 2018 19:49
Reggie72,
"looks as though discoveries are on savp's boundaries across the license area. huge amount of acreage not explored."
Oh dear. Usual interpersonal bickering going on on this BB, with the result that the interesting and pertinent stuff gets shoved to the sidelines, most unfortunately.
As a disclaimer, I'll repeat what I've already posted here. I bought in here late April 2017 because of my interest in the drilling campaign, then trading was supended and drilling 'postponed'. When trading restarted on the 22nd Dec I dumped the whole lot like a hot potato at a loss, because my confidence in SAVP's management has become completely eroded.
That doesn't stop me looking at this BB (very occasionally posting), because I'm still interested in an eventual drilling campaign, whether it's conducted by Savannah or someone else. Because from the point of view of an oilfield professional (which I am), it's promising territory. Maybe.
To go part-way to answering your question, yes, some of SAVP's acreage has been explored, but only partially. Let's say exploration has started. By seismic survey. Seismic is considered (and classified) as an 'exploration tool'. But all it tells us is that the potential is there. It's not proof of anything. Proof of hydrocarbons in place (and their possible commerciability) can only been done through drilling. Until that's done, any hypothetical valuation of the assets only runs into single-figure cents per bbl, not dollars.
So has drilling been done in the past by CNPC on Savannah's blocks? Don't know. Obtaining such information is normally exceedingly difficult, especially given the region and the company involved. It would be costly, using channels which are unlikely to be easily available to the public, without having close contacts in the area.
However the Corporate Presentation of Nov 2016, although extremely equivocal and vague, gives a hint that MAYBE some drilling has been done, in that it briefly explains that earlier exploration drilling attempts failed due to 'breaching of trap-seals'. Which is petrophysics-speak which would be too long to explain here. However, it's not specific whether the wells hinted at were on SAVP's blocks, or just the Agadem area in general.
I suppose a way of trying to get a 'straight answer' as to whether any drilling has been done on the blocks would be by posing the question to SAVP's IR dept. But you might not get a straight reply. I've only contacted them once, in October, I think it was. I was curious about the CPR based on the 3D seismic shot early in the year, and asked who was compiling said CPR on the company's request. The answer I got back (within 24 hours, it must be said), was that 'that information has not been divulged'. In other words telling me something I already knew, and left me none the wiser... So good luck if you tyy that route!
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