Member Info for AHP007

After Tullow Oil’s disclosure of its offshore discovery earlier this week, the Houston Chronicle, regarded as an authoritative media source on the global oil and gas industry, declared that the new find demonstrated that “Guyana’s newfound oil sector likely has a future beyond the Exxon development
https://www.stabroeknews.com/2019/business/08/16/tullow-find-puts-guyanas-oil-sector-future-beyond-exxonmobil/

Holzman noted that the thickness of this discovery surpassed the expectations of the Orinduik partners while noting that it has essentially de-risked all the tertiary sandstone plays on the block. Aug 16, 2019
https://www.kaieteurnewsonline.com/2019/08/16/orinduik-discovery-stretches-over-20-sq-km-and-full-of-oil-eco-atlantic-ceo/

No . Just my own thoughts as it cost up $7.6mln for the Jethro-Lobe and that's just a exploration well.

I speculate that the Corporate Presentation August is intended to showcase Eco Atlantic. To raise funds and get new investments because if Eco is planning to stay until production at Jethro 1, then money is needed. As the cost to Eco is 10 Million+. What ever the operational cost to Tullow we pay 15%.

https://www.ecooilandgas.com/wp-content/uploads/2019/08/ECO_Corporate-Presentation_August-2019.pdf

Yellowtail (>300 million barrels) – offshore Guyana
Tilapia (>300 million barrels) - offshore Guyana
https://www.rigzone.com/news/highimpact_discoveries_already_greater_than_2018-15-aug-2019-159565-article/

Exxon Mobil is now back in production growth mode though as the most active player in the booming Permian Basin and the leader of the next major deepwater development offshore of Guyana in South America

https://www.chron.com/business/energy/article/Gazprom-PetroChina-EQT-lead-oil-and-gas-growth-14306098.php

TULLOW OIL FIND SHOWS NEED FOR INCREASED PREPARATION
https://www.youtube.com/watch?v=XS5-dyBlhLw

Tullow strikes oil at Tethro-1 well
https://www.youtube.com/watch?v=ijaYJJ0xBT8

Guyana oil discovery means more opportunities for Ghanaians - Tullow boss
https://www.ghanaweb.com/GhanaHomePage/business/Guyana-oil-discovery-means-more-opportunities-for-Ghanaians-Tullow-boss-771969#

TULLOW STRIKES OIL OFFSHORE GUYANA
https://www.youtube.com/watch?v=eFFFgjdD8Eo

Offshore Guyana - Animated Overview
https://www.youtube.com/watch?v=wuNhqTX4gyw

The Liza Destiny floating, production, storage and offloading (FPSO) vessel is expected to arrive in September ahead of first oil planned in 2020
https://www.oedigital.com/news/468628-fpso-liza-destiny-sets-sail-for-guyana

the Stabroek block has the potential to drive Hess’s growth even beyond 2025. The Liza development, which will be responsible for a majority of Hess’s growth in the near-term, represents just one oil field at Stabroek. So far, Exxon Mobil and Hess have announced 13 major oil discoveries in the region. The new finds, combined with the analysis of previous discoveries, have enabled Exxon Mobil and Hess to significantly increase the block’s recoverable resource potential to six billion barrels of oil equivalents from 2.0-2.5 billion boe in 2017. The size of this asset base can grow significantly in the future as Exxon Mobil continues to carry exploration work. This can drive Hess’s growth for decades
https://seekingalpha.com/article/4282941-hess-corporations-turnaround-getting-closer

ExxonMobil, the major partner in Esso Exploration and Production Guyana Limited, expects to begin commercial oil production from Liza Phase 1 in early 2020, though some industry sources have said pumping could begin in the last quarter of 2019
https://demerarawaves.com/2019/07/31/stabroek-block-now-estimated-at-more-than-6-billion-barrels-of-oil-equivalent/
Thing are moving quick and they will want to get results out to maximize shareholder value before they start extracting oil
https://www.upstreamonline.com/live/1830957/stabroek-resources-boosted-to-6-billion-boe

Is about November third quarter announcement

Exxon will announce when they think is best for them and there shareholders. I personally think 4thQ as it will look good on the quarterly reports

Tullow Oil will be hoping to prove up a second play on its Orinduik block off Guyana when it spuds the Joe-1 exploration well in the next few days The London-headquartered company is moving the Stena Drilling-owned drillship Stena Forth off the Jethro-1 well, where the discovery probe has already been cased.

At Joe, Tullow and its partners — France's Total and London-listed junior Eco Atlantic Oil & Gas — will target a reservoir at a shallower depth than Jethro’s 4400 metres, and in shallower water.

Whereas Jethro is a Lower Tertiary find, Joe-1 will target an Upper Tertiary prospect.

Although the Jethro result has helped to de-risk Joe, Tullow executive vice president of new ventures Ian Cloke stressed it is an independent, younger target in an unproven play
https://www.upstreamonline.com/hardcopy/1836355/aiming-to-prove-up-a-second-play-at-orinduik

Holzman added: “The well is cased already... If the appraisal is successful, what I hear from Tullow is that they can definitely consider it as a standalone commercial development. It could be fast-tracked, but this kind of decision will be taken later.”

BMO Capital Markets analyst David Round revised the volumes the bank sees at Jethro to around 200 million barrels from 111 million.

“We value a standalone development at $631 million... assuming a $8 per barrel of oil equivalent and around $15 per boe operating expenditure, based on recent analogues,” the bank said.

“Using lower cost assumptions and 250 million barrels, we estimate a de-risked upside valuation of up to $1 billion, around 60% of which we would expect to be priced at this stage.”

RBC Europe analyst Al Stanton said: “Management appears keen to fast-track the Jethro appraisal and development — the combination of oil in a simple (massive) sand, good fiscal terms (75% cost oil) and current low offshore construction costs lends itself to a phased development
https://www.upstreamonline.com/hardcopy/1836354/tullow-confident-that-jethro-is-standalone

Your predictions of the SP are to far fetched. There is too much positive news flow going on around Guyana at the moment.
With positive results on Monday and the updated results we are awaiting on Hammerhead. Eco Atlantic is in a very good position.

https://www.upstreamonline.com/hardcopy/1836895/opinion-tullows-guyana-game-on

This discovery significantly de-risks other Tertiary age prospects on the Orinduik licence, including the shallower Upper Tertiary Joe prospect which will commence drilling later this month following the conclusion of operations at the Jethro-1 well. The non-operated Carapa 1 well will be drilled, later this year, on the adjacent Kanuku licence to test the Cretaceous oil play
https://www.tullowoil.com/media/press-releases/jethro-1-oil-discovery

Eco Atlantic (Guyana) Inc is a subsidiary of Eco Atlantic. Under local Business legislation in Guyana, Eco as to set up a Business The same with Tullow and Total