Member Info for bigspike

https://www.mapstand.com/blog/2019/07/30/could-new-wells-rejuvenate-the-uks-north-sea-oil-production/

https://www.standard.co.uk/business/market-report-amerisur-sale-in-full-swing-pearson-signs-deal-with-egyptian-government-a4195386.html

Interesting GTE interview. 800mmbbls of prospective resource and the strategic OBA, a reliable cheap export route in a virgin basin! Will GTE want amer, you betcha!

https://www.bnnbloomberg.ca/commodities/video/gran-tierra-and-the-business-of-oil-in-colombia-part-2~1398115

Another huge trade, are these buys?

https://www.energyvoice.com/oilandgas/africa/203655/oil-giants-note-nigeria-now-has-chance-to-open-its-fields/

Manolo Zúñiga, President and CEO of PetroTal commented:

“Having executed like clockwork since taking over the Bretaña project at the end of 2017, while at the same time optimizing the operations as reflected by the 90% increase of the 2P NPV10 estimated by NSAI, our independent qualified reserves evaluator, in the most recent financial year end reserves report, the proposed Placing will allow the Company to reach its initial goal of 10,000 BOPD ahead of plan, resulting in optimized unit lifting and operating expenses, as well as per unit general and administrative costs going forward. This will also allow the Company to continue evaluating the expected crude oil recovery factor, and reach additional oil markets. This capital will allow PetroTal to maintain an active drilling schedule and avoid rig standby or de-mobilization costs. The proposed dividend policy is designed to reward shareholders as our increased production delivers significant cash generation.”

Even more important is the NPV-10 of the 3P reserves, estimated at $1.25 billion, which underpins our future value, which could primarily be obtained by increasing the field’s recovery factor.”

Ujo recently reported the following compelling, immediate and future economic value from a development of a gas discovery alone with the Operator's recently upgraded NPV10% in excess of US$300 million

The rbd presentation suggests on success of a gas discovery this is worth $61m to rbd. Think ujo presented a increased valuation for the project though in a recent rns. How rbd monetise this asset is intriguing.....

I agree, perhaps Rathlin will ipo prior to the next drill...

http://www.maxperf.ca/video-gallery.php

Not expecting the MS to produce over 100bopd per well in a long term flow rate. Regardless, these wells will have been drilled and put into production in a very short time frame. Each well is a re drill, a cheap and cost effective way of targeting the reservoir, approx cost of each well only $800K. Further MS costs will now be at 50/50 with IMS. Given the net pay has exceeded expectations there’s a very likely chance the resource is bigger than first thought. WB should be connecting to the gas pipeline Anytime, allowing oil production to optimise at VG4. Not forgetting WN should hit the primary target very soon and through an equity share in Rathlin, RBD have the biggest piece of the pie and potentially the quickest route to monetise.

That’s why they were doing much of it at night, it was common for the wind to drop during the evening.... I don’t believe they will accept anything else other than high quality data and we can be confident that modern seismic will deliver that! Define the structures, increase prospective resource, correlate and calibrate with previous legacy well data, increase the cos and optimise well locations to assess multiple plays in the wider license. Gas, tick Trap, tick Source, tick High pressure, tick Will it flow? It does next door....

Does anyone have any info on the well cgc proved commercial just outside the tapi aike block?

Rbd is cheap as chips and offers the biggest slice of the pie and imo the quickest route to monetisation, that is the model, quick cycle. On success I’m sure the joint ceo’s have clear plan to exit. Rbd’s focus is on appraisal assets so why take further exploration risk, further expense, IPO Rathlin and move on, scale up! WN1 hit gas last time, short term flowed at 4.5mmscf/d and now their targeting the crest, the optimal point of the structure. Yes a significantly derisked prospect, not without risk but the RvR is very good imo and RBD is backed with producing assets and near term appraisal at Parta which has an even better cos! On success at WN it’ll take years to put into production, but I don’t see why that should be a problem to RBD... GLA

3yr production targets 8kbopd & 15mmscfd, PH oozing confidence. Biting his tongue on acquisition discussion! Lots happening....

https://m.youtube.com/watch?feature=youtu.be&v=zzqPmQ27dGs

Great update, bought more!

https://oilprice.com/Energy/Energy-General/The-Driving-Force-Behind-Nigerias-Energy-Renaissance.amp.html?__twitter_impression=true

Thanks for the info chaps.... I’ll keep reading, I’m intrigued.

There doesn’t appear to be much information on the proposed drill campaign. The sea bed survey is expected q2 isn’t it? Has it started yet?