The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
This may be the absolute bottom in the share price, as they allude to using financing, as per below from this morning's runs:
"As we have explained in the past, our plan is to fund the well primarily with asset-level financing, and we still believe that is realistic."
Morocco Sign Deal to Invest in Africa-Atlantic Gas Pipeline Fri, 12/08/2023Today 10:44
Morocco and the United Arab Emirates (UAE) have signed an agreement to invest in the construction of the Africa-Atlantic gas pipeline, a major project that will transport gas from Nigeria to North Africa and ultimately to Europe.
Https://www.pipeline-journal.net/news/uae-morocco-sign-deal-invest-africa-atlantic-gas-pipeline
Don't know what happened there 🤔
Morocco and the United Arab Emirates (UAE) have signed an agreement to invest in the construction of the Africa-Atlantic gas pipeline, a major project that will transport gas from Nigeria to North Africa and ultimately to Europe.
Https://www.pipeline-journal.net/news/uae-morocco-sign-deal-invest-africa-atlantic-gas-pipeline
Selection of maps/image's showing the geological Herrera Fairway sands (some showing Cory Moruga) via Google search:
https://www.google.co.uk/search?client=ms-opera-mobile&sca_esv=589042230&channel=new&espv=1&sxsrf=AM9HkKlyXLAOgY_JtlzMyUoruKc3Da2qYg:1702030501308&q=Herrera+Fairway+sands&tbm=isch&source=lnms&sa=X&ved=2ahUKEwijobXbzf-CAxXpU0EAHdQTBD8Q0pQJegQIChAB&biw=360&bih=610&dpr=3
The article below is interesting as regards the light oil discovery with the Snowcap-1 drill:
Trinidad gets rare onshore light oil discovery
Feb. 16, 2011
Parex Resources Inc., Calgary, and partner Primera Energy Resources Ltd. have reported an onshore discovery Primera calls the first onshore light oil discovery in Trinidad in 50 years.
Parex Resources Inc., Calgary, and partner Primera Energy Resources Ltd. have reported an onshore discovery Primera calls the first onshore light oil discovery in Trinidad in 50 years.
Snowcap-1, the second exploratory well drilled on the Cory Moruga block in south-central Trinidad, stabilized over 6 days on a three-point test at 578 b/d of 37° gravity oil and 4.6 MMcfd of gas from the primary objective Miocene Herrera formation at 4,597-4,603 ft. Tubinghead pressure at the end of the test was 600 psi.
The well tested at rates as high as 1,450 b/d and 6.2 MMcfd. The zone produced no water.
Deeper secondary targets, namely the Eocene and footwall Herrera zones, produced little or no hydrocarbons in commercial quantities (OGJ Online, Dec. 14, 2010). TD is 8,600 ft.
Appraisal drilling is required to determine the hanging wall Herrera reservoir areal extent, oil leg, gas cap structural positions, and potential hydrocarbon height.
Meanwhile, Parex Resources (Trinidad) is mobilizing a drilling rig back to the pair’s first well, Firecrown–1. Based on open hole wireline logs, mud logs, and cuttings samples, this well encountered hydrocarbon-bearing sandstones with oil shows at 6,600-7,200 ft and 8,150-8,275 ft in the Herrera. Drilling was suspended due to wellbore integrity problems.
The well will be deepened to the commitment depth of 10,500 ft to investigate deeper prospective horizons, following which all potentially productive zones will be tested including the Herrera.
Primera Energy said it has several additional "high impact," seismically identified prospects on the block and is seeking regulatory approval for further exploratory drilling.
The company is also sourcing a drilling rig to resume drilling on its WD-4 block. The first well, PS 131 RD, will to go 5,600 ft and target the Lower Forest formation.
Trinidad gets rare onshore light oil discovery
Parex Resources Inc., Calgary, and partner Primera Energy Resources Ltd. have reported an onshore discovery Primera calls the first onshore light oil discovery in Trinidad in ...
https://www.ogj.com/home/article/17267191/trinidad-gets-rare-onshore-light-oil-discovery
VUGS, should anyone not be aware:
1.
A cavity in a rock.
2.
A small cavern, larger than a pore but too small to contain a person.
Typically found in limestone subject to groundwater leaching.
http://oilgasglossary.com/vug.html
And to add to your post BRV, below is a section from the Update on Guercif testing Morocco and Trinidad RNS (30.11.23), which ties in with your post:
"Given the limited availability of the length of perforating gun strip for immediate use the following intervals were selected for perforating in sequence as follows:"
From Wikipedia
Condensate wells: These wells typically produce raw natural gas along with natural gas liquid with little to no crude oil and are called non-associated gas. Such raw natural gas is often referred to as wet gas.
Just to add to your post JH (I'm new here), regarding any exclusivity rights, below is a copy from the following RNS:
Polarean Imaging PLC Collaboration with Philips at ISMRM 2023
Dated 02 June 2023
This NON-EXCLUSIVE (my highlight in caps) collaboration facilitates the sharing of technical data and marketing materials to jointly advance the field of Xenon MRI into the clinical realm. The collaboration delivers an advanced solution for the evaluation of lung ventilation in patients 12 years of age and older based on Xenon gas MR imaging, providing clinicians with enhanced productivity and image quality improvements. XENOVIEW has not been evaluated for use with lung perfusion imaging.
https://www.lse.co.uk/rns/POLX/collaboration-with-philips-at-ismrm-2023-4v84yngg8r5qx3u.html
Namibia - Companies Investing Big (video)
By TROVE News (by 1st subsurface).
Dated: 5 month ago.
Namibia - Companies Investing Big
Namibia has been hitting the headlines over the last 18 months for a series of oil discoveries made by Shell & TotalEnergies. But who else has interests in t...
https://youtu.be/bEGhb16GnkE?si=_V8Io1x0vYM7Zecd
Transcript of TRP discussion:
Tower Resources - 2 prospects in PEL 96
From 11:42
and in the Walvis Base we've got Tower Resources and this is their block here Pel 96 and here's a map showing the two major prospects have been identified here Alpha and Gamma, now
this situation on a sort of regional structural high it's on the landword crest of the walvis ridge now what's
interesting here is you have the Namib bason into the north this Dolphin Graben
here now two Wells one dry hole and one with some oil shows but you can see they
weren't drilled on a structure at this particular level these are quite old wells and now you can see that this feature here has got a nose a structural nose that's pointing out into into the
graben and and likewise Alpha has one that's pointing out into the nib bason and so if there are source kitchens here there's a preferential migration path into the Alpha and from the Dolphin Graben into the Gamma and that's notwithstanding the outboard potential kitchens in the walvis ridge itself combination of these blocks and three blocks together is some 23 000 plus square kilometers and it's a 80 percent operated by tower now there are two prospects and ten leads and they're
talking about the next step being a new seismic being shot over this block.
End of transcript (TRP).