Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I think the water ingress bit was the concern Boyo:
Production from the Sarta pilot project continues to provide invaluable dynamic data from which we can plan future activities, and averaged over 7,000 bopd in H1 2021. June saw the highest average monthly production in the year to date, 8,400 bopd, following the maximisation of uptime in the month. Of this production, the Sarta-2 well produced c.6,400 bopd, and the Sarta-3 well c.2,000 bopd, with the latter having been partially plugged back to manage water ingress from the Adaiyah production stream, the origin of which is yet to be determined. With production temporarily limited to the thinner, less volumetrically significant Mus reservoir, a fall in pressure in June across both wells resulted in Genel and the operator, Chevron, reassessing the optimal way to produce these wells ahead of the addition of production from Sarta-1D, a well set to access production from the entire Adaiyah reservoir section for the first time and via a smart completion. Reservoir surveillance work at the start of the year had already proved strong communication between the Mus reservoir in Sarta-2 and the Mus reservoir in Sarta 3 over a short distance of c.3 km, together representing a portion of the container more limited than our expected extent of the Mus reservoir.
At Sarta, while pilot production has not reached the levels that we had hoped in H1, it is providing valuable information regarding the future development of the field while generating meaningful cash to support the funding of the appraisal campaign. The three well programme is a key focus this year, and we look forward to the results of the campaign, which is now underway following the spudding of Sarta-5. The wells will help give us an understanding of the potential of the field, as we work with Chevron to ascertain the optimal field development plan.
I mean I'm not much of a twitter sort of chap but neither is Genel seemingly, their contribution is not exactly pulse raising, in a good way.
Re QD - 3rd Aug 21:
Our high-impact appraisal campaign is now well underway. The Qara Dagh-2 well is currently at a depth of c.2,300 metres, targeting a portion of the 400 MMbbls of prospective resources. Results are anticipated around the end of Q3 2021.
Re Sarta - 3rd Aug 2021:
The Sarta-5 well spud in June, with results expected in late Q3/early Q4.
steady on IR machine.
GLA
Yep - things were looking good then Npusher, mistake I made was holding that tranche I purchased at 163p through Ex Divi, which was at a higher price if I remember rightly, - It didn't feel like a risk at the time but then we all know what followed, notably the KRG revised payment terms, (on Ex Div day) which hasn't materially impacted the others btw and the Gas PSC's, which were not priced in anyway imo.
As you say, here we are with o.p at an eye watering $75 and GKP 199p, I would say "where did it all go wrong" but I think we know. Whilst I say lets hope for a positive RNS, I have to admit to dreading the notification in my inbox , I've been in here for many years but I suspect I might be a seller into any short term rise, sorry Bill, to say I am despondent doesn't begin to cover it. (@Jim - Just a midweek checkin, nothing to see here lol..)
Phil - I wasn't swearing at you below buddy, think of something that rhymes with blocker starts with a C but has a perceived expletive as the first 4 letters, this amazing site can't seem to get the basics right but will block words within words if deemed sensitive.
Having ongoing trouble cracking the early 130's I see, going take something very special to get through imo, and no, Hawkey (NSS) showing up with his cross dressing blue chip frock and high heals in place of the usual hunter boots and smoking jacket didn't do it... the ensuing back slapping was embarrassing, could be anyone taking the ****.
Phil - what were you saying about the market not liking my posts? 2x up days and 3x down days prior to this post ****er.
Hey Klassic, good to hear from you - always a pleasure, dad dancing was very nice, even by your standards.
Of course I'd have preferred to look in and see a weekly rise, at least she had a go at 132p ..... maybe next week eh, o.p / RNS permitting. GLA
See this is where our friendly message board is invaluable, of course you're right Jim, and I will take your advice and try to step away more often for sure, thank you.
Hopefully you can also tell that I rarely lose my sense of humour, despite my maverick moments.
Oh, and the ole blood pressure is fine, I test it weekly and if anything it's on the low side - seriously good advice though so thanks for taking to time to post it - GLA
I notice the BP board have started running a Friday Club....
Genel LSE Members will take steps to protect its rights under the Friday Club (FC) contract and, if necessary, seek compensation, including for its material investment. As a first step, Genel LSE Members intend to issue notice of dispute to the BP LSE Members under FC contract, contesting the right of the BP LSE board members to embark upon FC malarkey and, in doing so, trigger an obligation to hold good faith negotiations to resolve this matter promptly and without the need for either party to refer the matter to enter arbitration.
so we're back to where we started the week (circa), but on low volume, lowest volume since Aug 18. Good job I have a rule of not trading during Casino Hour when we touched 120.4
The noisy neighbors still going strong, good luck to them, their market cap 405.29M Vs G 353.68M.
In the back of my mind I'm still thinking we were never going to safely pass 133p (ish) 27 31th Aug and this is just a drop back before another go, maybe next week - some positive news and or significant o.p rise is what we need to crack it. GLA, holder and contributors alike.
Genel reached agreement to acquire stakes in the Chevron operated Qara Dagh block, in the Kurdistan Region of Iraq, in January 2019.
Genel acquired 40% equity in the Qara Dagh appraisal licence and became the operator through a carry arrangement, covering activity for the QD-2 well.
Qara Dagh offers an exciting appraisal opportunity. The QD-1 well, completed in 2011, tested light oil in two zones from the Shiranish formation. The QD-2 well location has been selected c.10 km to the northwest of QD-1, and will test a more crestal position on the structure with a high angle well to maximise contact with reservoir fractures.
The well will test the crestal portion of the prospect which, based on a rigorous re-mapping exercise, has a mean prospective resource estimated by Genel at c.400 MMbbls. Genel estimates that the downdip segment tested by the QD-1 well defines a 2C resource of 47 MMbbls.
Genel’s high-potential 2021 drilling campaign began with the spud of the QD-2 well in April. Results are anticipated around the end of Q3 2021.