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""Can't see them going back there.""
Well all I can say is thank ferk, total waste of time and money !!!
Exactly BDC, they are in full process for rig arrival. and the strategic changes will keep focus on this.
Most folk in Chariot were not here for the sideshow, only for the hydrocarbon efforts, so it's back to the real business as far as I am concerned.
Personally, I think it is very wise to push this strategic change through, they have a significant drilling program to start imminently, and all funds need focus on this, rather than spreading yourself too thinly.
Got an intense rest of 2024 ahead of us, gonna be VERY interesting times.
Ocelot,
Pretty certain the move on futures gas is primarily linked to the notable attacks on a good number of Russian refineries and gas plants ongoing, which could see a bigger push on prices, depends if these plants and refineries keep getting knocked out, as there are still importers of Russian gas within Europe.
GP,
The days of big pre spud rallies are long gone, but I do expect it to tick up quietly over the next week or so, but as ever drill bit rules so as planned, I have established my position, though still 10% down but I am OK with that as I never expected it to have such a pain in the butt seller that has haunted it since Energean del was announced.
One thing is certain, once they get that rig sited, it is going to be FAST n FURIOUS activity and news flow. and looking at the site update, there isn't long to go before kick off !!!
Looks like they are STILL fighting to get proper stability through the plant, rates are up and down like a like the SP, likely fighting a tough battle due to condensates/liquids causing too much interference in the flow dynamics.
I think the velocity string/s will be sooner than later.
YW Ocelot, just my view, nowt else.
Ocelot,
I would expect that to be the minimum they would expect from Brockham AFTER all works including reperforation, otherwise it is pointless.
As for todays oil price, you have to apply discount to that, likely 10%, tankering per bbl, any water removal, new site Opex, as it would almost certainly require manning while active.
There is insufficient pressure to surface, which is why they may well be able to complete works rigless, I also suspect they feel there are issues with wellbore replenishment, thus reperf to improve flow and possibly extend original perfs. 50/50 if it all does enough tbh.
""Stock is in waiting mode.""
More like stock is in "terminally ILL mode !!
Ocelot,
Although Brockham is almost certainly able to be done rigless, it is still likely to have a cost of around £1m to pull everything, fix or replace pump, replace the tubing string and possibly reperforate, which even with a modest improvement on production, would likely take a year to recover that Opex/Capex requirement.
Still, better than dormant, though not a game changer.
Tickkkkk tockkkkkkkkkkkkkkkkkkkkkkkkkkkkkk
Sooo EoA, lets hear your take on HOW Angus will make Soooo much money from the storage ??
I think you will find Trafigura will control the whole of any storage, at best Angus may get a tiny royalty of sorts, but it may result in them offloading the decommissioning & restoration cost to Trafigura.
And I wouldn't be wishing it anytime soon, as it means production ends to convert to storage, that, I assume you want Angus to get the most out of what is left in the reservoir first ?? So nothing on storage for at least the likely term of the refinanced debt.
PeeeBooo, they are not insults, just the ONLY way to describe such well informed, savvy folk such as yourself lol.... I deem them more a compliment in your case !!
Stop trying to change the point, ibug asked you to note ONE well producing FROM, and you came up with that lol.....
PMSL, Ibug is correct, it is NOT producing from the Kim.
Funny, I have been to that site in my early days, they actually tried to drill 5 or 6 other wells to try and tap into the same producing zone and failed on ALL attempts. it is likely a very small pocket or fracture zone, but hey Kimmeridge BAY is close enough for Peeeee Boooo lol
LOL Peebooo one day you might get it !!!
even IF they had produced 300k barrels, that would only equate to around £18m pre tax, discount, tanker costs, water costs etc etc, which is more than the total cost of the field, thus why you only ever see this sheite show on a downward trend.
Those fractures are watering out to match the downward trend, BUT the Gatwick Flusher may realise water is worth more than oil if they clean it up a bit lolol
Its a bit early to get too excited, it might be 30% up from rock bottom, but on 14m volume from 4.2 billion in issue, about £55k of trades all day, isn't a massive display of something brewing, though in fairness it was pushed too far sown, likely a more relative price at 0.4p, though i hope those holding see plenty more.
""This is going back up !""
You failed to complete the sentence !! This is going back up SCHIT CREEK !!
""Your just a GREEN box now lol!""
EWWWWWW yeAH,,,, that will work for a few hours until your are incinerated by admin as usual lol,,, best post you made all day !!! TICKKKK tockkkk!!!