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Loads of buys, people topping up
Spread is 12.5%
I think, we can get Colter result in Feb, drill depth can be reached within 15 days. Could have drilled 25% of the desired depth, if the drill bit is penetrating easily.
According to the Corallian documentation, the Mobile Offshore Drilling Unit will be on location for up to 45 days. After drilling, the well will be capped off and abandoned. Any commercial development would be carried out via extended-reach wells from onshore. Located approximately four kilometres off the coast of Studland, the rig can be seen from the coastline stretching from Christchurch to Purbeck
Six Oil and Gas Working Areas Become Gross Split The Ministry of Energy and Mineral Resources (ESDM) noted that there will be six Oil and Gas Working Areas (WK) that will change their oil and gas profit sharing scheme. From the previous use of the cost recovery production sharing contract (PSC) scheme, the scheme will be changed to gross split PSC Arcandra Tahar Deputy Minister of Energy and Mineral Resources (ESDM), Arcandra Tahar said, the change in the contract scheme from the cost recovery to gross split will be carried out in February 2019. "In two weeks two blocks will change to gross split, then there will be four more exploration and WK production, and six more until next month," he claimed in ESDM Ministry Office. Arcandra reasoned, the KKKS chose contract amendments to be gross split because it was far more efficient. "Efficient, not complicated, simple, there is also certainty," he added. The WK Migas whose contract scheme will change is first, the Block Supports the contractor Conrad; second, the Muralim and Tanjung Enim Blocks with the Dart Energy contractor; third, North Arafura WK with Madura Oil contractor; fourth, the Bungamas Block with the Bunga Mas International contractor; fifth, Blok Sebatik with Energy Star contractors. Of the several Work Areas mentioned, Arcandra stated that the Tanjung Enim Block would be the first conventional oil and gas block to be turned into a gross split this year. So far, Tanjung Enim Block is indeed a working area that has the production of cool bed methane (CBM) types. While Arcandra itself is targeting the signing of the Tanjung Enim Block contract to be carried out on the upcoming February 9, 2019. Source: monitoringoil . com/2019/02/six-oil-and-gas-working-areas-become.html
UKOG mc is 90m right now, 30x more than ADL.
Bunga Mas: 15 Feb + 5 days Colter: 25 Feb +/- 3 days DYOR, GLA
Wrong board TtMB?
It seems like Bunga mas news is going to land first now 👜👜👜
3 weeks ...approximately 3 weeks to reach a planned total depth of 1,830 metres.
Spud of the Colter well Corallian as Exploration Operator for Licence P1918 is pleased to report that drilling of the Colter exploration well (98/11a-5), using the Ensco-72 Jack-Up rig, commenced at 10:10 hrs on 6 February 2019. The drilling is expected to take approximately 3 65weeks to reach a planned total depth of 1,830 metres. Following the completion of drilling operations the well will be evaluated and permanently plugged and abandoned.
Some late reported trades, most likely spud RNS tomorrow.
When can we expect new on this project? Mid Feb?
Buys going through as sell
Due today anytime
Passed Brighton. 1p will be crossed soon. GLA
Rig near Dover, spud on Sunday/Monday, get ready to see 1p tomorrow. GLA
Hope they bagged enough fish and chips stock at Dover, multibag is coming!
7 hours ago: Last reported location: Latitude / Longitude: 53.75645° / 2.635937°
400 Miles away from Colter