Member Info for belisce6

Damn.. i missed the 8.6 buy price.. was there for like a minute.. i think it flashed really quickly below.. oh well.. will allow it to settle.. then see about a topup..

I wasnt sure what exactly topside issues mean..
So i found this :-))
The picture on page7 shows its the actual rig etc.. above the ground...

http://www.moog.com/content/dam/moog/literature/ICD/Moog-OilAndGas-TopsideSolutions-Overview-en.pdf

But i think they r waiting for tullows cormorant results.. cos if its a discovery then the prices on leases in the area will go up.. thats a given...

When i look at potential farmout figures i see that prospect s farmdown to about 25% net char should be easily done..
Around the industry ive seen 33 to 50% premium paid on drill cost and backcosts without premium (most of the time)..

Char has 65%.. but doesnt everyone have to cover the local groups with minor holding ??. So if azinam has 20%.. then char probably has to cover 65/85 of the 25mill drillcosts... or about 19mill usd..

If they give away 40% leaving net 25%..
40% of 25mill =10mill.. with 50% premium is 15mill usd..
With backcosts of 40% of up to 10mill backcosts (??).. thats an addition 4mill usd..
Total already covers the 19mill usd or so...

Yes.. whether it holds 3p before any successful conventional discovery may depend on whether in q12019 we sit waiting for winx and at least stellar multistack drill... :-))

I think just with those two.. with the high impact potential in there.. that that level should or would hold going into spud...

Would be tad dissapointed if omly winx is drilled.. i dont expect both stellar and bravo due to logistics involved around timing and rig availability.. but would think the rig could move down from winx to stellar, or they get another rig in for it...
Plenty of time to get that farmout.. permits r in place.. just need a company to sign the documents and transfer the money :-))) eventually..
I wouldnt expect any farmout just yet... cos final 3d should be completed around about now plus add in customary delays... so DWs prebious guidance of farmout by yrend is still best to follow :-)))

It is strange not taking some during placement... doing it afterwards.. havent seen that before...

New acreage will be purchased too..
So hope those whinging bout the excess real estate, dont mind :-)))

I agree.. am thinking if nnpc finally gets signed off and so to the service contract, then y would the sp be only like a couple pennies.. at tgat stage should have marketcap dwarfing todays..
Worth holding onto.. to see if they can clean up the admin...

Well isnt that african outfit part of the tlw cormorant drill at 10%??
So perhaps they get sniff of suuccess news like good oil shows seeing theyre insiders.. then sign docs for prosect s before positive announcement hits market.. or if cormorant is looking negative they just chill and sign on for prospect s b4 it spuds...

Tiptop.. yes.. a quadruple success would be quite astounding :-)))

Maestro.. ok about opinions.. but is official company guidance not that vanji is drilled only if djeno is successful ?? And not the other way around??

Maestro.. have you maybe mixed up my comments aboit djeno and vanji..
Cos you mention djeno being drilled or not.. its gonna be 100% drilled..

Personally i dont see sense in not extending the drill into vanji regardless of djeno outcome.. but aaog have stated theyll do it if djeno is good.. unless i am mistaken...
Would be ridiculous to have drill on location and not penetrate everything that could give joy :-)))
Cash may be the issue.. usually is... but even if mengo is good surely any extension into vanji wont be too much extra outlay..

Yes.. and if all goes well 104 is a mengo producer.. with reserves booked get loan.. should b easy.. 44% goverment project :-)) and then roll out the production wells :-))). A big lump sum loan wouldnt be required.. cos development could b spaced out over relevant time frames
. For example first 3 new wells drilled and producing for 6mnths.. cashflow used for new ones or back to loan etcetc.. probably a few decent ways to finance it with minimal debt facility :-))) "government backed" :-))
Sure hope djeno comes in cos then they r 1st to ever drill vanji.. government should give em a free interest loan for that.. haha

I actually think the signoff from nnpc is waiting for agamore issue to be buried... and possibly only that...
Service contract can be signed just like bank debt.. with provisos and contingencies.. opl226 is in essar nigeria hands now ? Or ?

The more i think about it.. the more i think if shorecan has been able to get such loan term sheet and final stage of service contract, then nnpc wants agamore finally sorted.. and might assist in sorting out essar m perhaps... cos they look to b the ones that may try to delay the whole project...

Its a shame they didnt take the offer of payment from future production.. perhaps a royalty or so.. shorecan could have used that 20% part and got someone to pay a fair whack of cash for it.. to go into covering the first drill plus some of their obligated development costs.. it could still play out that way...

I am happy cos being in at 8p may end up a bargain basement buy :-)))
Hope you did similar...

In the know ???
Why would you tell me about level headed?
I stated my expectations for first 2 horizons and nothing for your R3.. i guess you mean djeno.. that is a fifty fifty... it depends mainly on existance of oil rim :-)))
How you interpret the published data is your choice.. i will not try to persuade you otherwise :-))

Then they can look at dismissing essar mauritius... :-)))

Not necessarily.. depends on the content.. agamore may not turn up again so its postponed or they may do something administratively halfrsed again.. so it gets postponed.. so not necessarily very bad.. but yes.. would be ideal if it is simply dismissed...

Indi is also a stupendously ridiculous name.. but i guess there is no need to ask about your mental health status.. one can easily decifer :-)))