Member Info for bigspike

Baron oil ceo is the geologist who generated the colter prospect, he gave quite a good presentation of the prospect here. It’s an old video but some may not have seen it yet. https://www.brrmedia.co.uk/broadcasts/5bd340bf355d6764a6235b6e/121-oil-gas-london-baron-oil-presentation

Yeah unitisation is a joke, definitely not happening. But, should colter prove successful, Perenco already have a long reach well in the area to tap it! Of course they will want to buy the asset....

I agree with badger. It’s a long reaching well drilled by BP to test old harry. This well was drilled just off / bottom of structure, found hydrocarbons but at the time considered sub comercial. Later (2013 ish) the 3D was reprocessed by the Boil CEO and now they believe the colter structure could potentially extend from 93/11-1 to as far as old harry! So, the fact Perenco already have a well very close to the potential 20mmbbl colter structure makes it even more compelling to Perenco. On success of Colter, perenco could potentially re enter this old well and drill horizontally through Colter to produce from it.

Very interesting cervelo, thanks for sharing.

https://www.iol.co.za/business-report/opinion/opinion-nigeria-could-be-the-continents-gas-powerhouse-13029734?utm_source=email_share&utm_medium=email

Didn’t FM say that these wells flow at 100mmscf/d and just keep going? What is the gas price in Bolivia? Given Shell and Repsol are drilling this well further validates the quality of this asset, and if this well goes as thought they’ll be wanting another drill ready prospect. Echo will farm it down, only leaving themselves with 10% or 15%, a quality asset and partnered with majors.

Excellent find Cervelo, very exciting indeed.

*sm x 1001

It’s worth remembering that the SM x 1001 well drilled by crown point energy tested this well in 2 zones of the Tobifera. The lower zone flowed water, the upper zone flowed oil. http://crownpointenergy.com/2017/10/oct-5-2017/ During the extended well test the flow rate in an x 1001 increased to over 2000 bopd. 2 more appraisal wells were then drilled in the same structure, sm x 1002 flowed over 2000bopd, sm x 1003 didn’t flow and is waiting feature stimulation equipment.

So q1 we can expect production testing on Gbetiokun, expected to be limited by EPS at 15kbopd. George did also suggest an EWT on Ubima in early 2019 too, oil price back up. Future looks good for ELA... Quality asset with management that seem to be doing everything right!

Few large trades and improved volume, can this be a ride back to 140p?

Completion of Gbetiokun-3 is now expected in January and once completed, production testing of the Gbetiokun-1 and Gbetiokun-3 wells will be conducted using an early production system ("EPS") with initial gross combined production estimated to be approximately 15,000 barrels of oil per day ("bopd") (6,750 bopd net to Elcrest). Start-up of the EPS is expected to be Q1 2019. George Maxwell, CEO of Eland, commented: "Gbetiokun has the potential to deliver a 50% increase in oil production from OML 40. We look forward to updating shareholders on the completion of Gbetiokun-3 in January 2019."

https://www.elandoilandgas.com/umbraco/Surface/MediaDownload/Download?file=umb%3A%2F%2Fmedia%2F86f3b5ab6435431ea0a99058360ae7d2 It’s worth remembering at $60 oil, 30kbpd to pipeline delivers a net back to Elcrest of $35.98.

Amerisur Resources – 2019 Entry price 15p. Y/E Target Price 60p. Amerisur Resources has been hammered over the last 2 years by the presence of a persistent High Net Worth individual called Rex Harbour. A sizable amount of stock was dripped into the market on a daily basis which over time dented sentiment and eroded any good news issued by the company. Strategic pipelines were built, costs lowered, prime exploration acreage bought and increased. Cash pile increased. Production doubled. Oil Price doubled. Debt free. Yet Amer’s share price has virtually halved from levels seen 2 years ago. Odd indeed. Today, the company is in a better position than it was when the share price was last at 32p. Recent success with the Indico-1, OXY farm out deal and a plethora of director sales… a company brimming with confidence. 2019 is a busy year on all AMER’s assets and by the end of 2019, any potential predator out there will have a very good idea of what value AMER presents. TheShareHub predicts a take out price of 60p. Success across the exploration folio is crucial in attaining this price.

https://www.energyvoice.com/oilandgas/189120/eland-targets-start-up-of-nigerian-appraisal-well/

Great update, Gbetiokun progressing as per geological expectations a step closer to 50% increase to production. In the old core finance interview George Maxwell suggested Gbetiokun-1 may deliver 10kbpd alone although the CPR suggests rates closer to 8kbpd with the new well Gbetiokun 3 in addition to that. GLA and happy Christmas ....

At what point can we expect to know if mariposa and indico are in communication? I believe the perforations on mariposa were limited to support potential interference tests. Given the success at indico today and the further testing of this well, they’ll be able to compare reservoir parameters between both wells, will this be succificent data to reveal this is one biggy?

Jointgedots, I’ve been pondering the same question. It’s an important point made in today’s rns imo. So to me the whole structure is oil, no water cut encountered! I’m know expert in this but oil is lighter than water so sits on top of the water in the structure so I agree with your comments, does this mean the oil extends out of this structure and may be found at lower levels ie Mariposa! We know indico is updip. It’s an exciting comment in today’s rns.

http://www.valuethemarkets.com/index.php/2018/12/10/amerisur-resources-finds-oil-lower-sands-formation-indico-1-amer/?utm_campaign=shareaholic&utm_medium=twitter&utm_source=socialnetwork

https://m.guardian.ng/business-services/opec-cuts-oil-production-by-1-2-million-barrels-to-offset-price/

Check out the 2 x £1.5m buys, is that you munchbox?