Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I liked this paragraph......
Lower capital costs, for barrels of oil developed, has allowed ConocoPhillips to reduce its minimum price threshold for new slope projects from $55 per barrel in 2015 to $42 per barrel now, the company told analysts in presentations last July.
Incremental expansion of existing fields can be done for even less cost, down to $30 per barrel, using technologies like coiled-tubing drilling, the analysts were told.
Right time, right place....
https://www.juneauempire.com/news/oil-exploration-predicted-to-increase-on-north-slope/
I think this was discussed a few days back - but some more detail here seems to suggest it's unlikely to impact Winx permits.
https://www.argusmedia.com/en/news/1823562-us-processes-oil-gas-permits-during-shutdown?backToResults=true
New Year's eve feels like a good time to reflect on what's gone before and apply the lessons to what's likely to be ahead. We invest for a variety of reasons but sentiment is a risk to logical analysis of the risks.
I bought in around a year ago, expecting a rise ahead of IW2 drilling. I was right, the share price rose and make good returns consistently in the run up. I waited for the well to be reopened, thinking I'd top slice before flow test results as I understood the risk. On well reopening the share price dropped and I couldn't see the reason for it, so I held on a bit longer, the news seemed positive but the market wasn't reacting, we all know what happened next, I was left with my entire holding and a big paper loss. I made a mistake, with hindsight. If we'd only had that one project I would then have sold out. Since then I missed two other opportunities to average down. I'm not happy with my own performance on this one.
But since the disappointment of all that I feel more positive about the future of my investment than ever, and that's trying to be dispassionate and logical and learn from the past. Four chances now, where we had one. In the next 3 months we've been told we'll have discernible news on two of those chances that will positively impact the share price (news released formally on ASX which is highly regulated). If either of those fail we still have the HRZ and Yukon Gold with news on both expected in 2019.
This still looks like a risk, but a more solid one than ever to me. I'd be interested to hear others stories and thoughts I they want to share. Happy New Year to all investors and good fortune in 2019.
Happy Christmas to all on here. Was 2018 a year of disappointment or the foundations to a prosperous 2019? Time will tell but keep the faith.
https://www.youtube.com/watch?v=eZQyVUTcpM4
If anyone missed last nights broadcast on North Slope oil you can listen to it here....
https://www.alaskapublic.org/2018/11/26/alaskas-oil-production-prospects/
Anyone around 7pm today (UK time) this could be worth a listen online.....
https://www.alaskapublic.org/2018/11/26/alaskas-oil-production-prospects/
CP news, maybe they need some spare cash....
https://www.energyvoice.com/oilandgas/north-sea/186263/conocophillips-confirms-unsolicited-offer-for-north-sea-portfolio/
I like this quote...
'Mr Parker said ConocoPhillips had “other priorities closer to home”, namely in US shale oil and Alaska.'
Thanks Brom, great to see yet more investment in O&G exploration in Alaska, bodes well for a successful farm out.
Also interesting to see Chinese money arrive...... https://en.wikipedia.org/wiki/88_(number)#In_Chinese_culture
and more positive news on the slope......
http://www.alaskajournal.com/2018-10-10/oil-search-planning-two-new-wells-southern-pikka-unit#.W75mTS-ZMcg
More positivity from ConocoPhilips about the NS, I liked this part:
'Bruner said additional exploration is planned and that the company is primarily looking at the production of horizontal wells. She also said the company is looking at Arctic National Wildlife Refuge and is waiting to learn more about upcoming leases.'
Sounds like they're still looking to expand.
https://www.peninsulaclarion.com/news/conocophillips-bullish-alaska-prospects/
Just a thought, but if the Chairman/BOD now felt some news may come out before the GM on the 15th which would spike the share price, and they want to reward DW, it would make sense to set the performance rights allocation price at a fixed sum - 0.03c should do it!
Unlikely perhaps, but stranger things have happened.....
Optimism from Conoco on the NS......
http://www.alaskastar.com/2018-09-27/conocophillips-exec-shares-slope-optimism-local-business-leaders#.W61FNi-ZMcg
“We just see a ton of potential”
Good summary of the many projects on the NS.....
http://www.alaskajournal.com/2018-09-19/north-slope-bustling-projects-all-sizes#.W6K8OC-ZPBI
Interesting recent article on Oil Search plans and progress on NS
https://www.epmag.com/natural-gas-player-oil-search-ltd-talks-alaskan-oil-1715561#p=1
Sure, but the judgement for me is would another MD have pulled the deals off. Why did 88E get these low cost/potentially high return opportunities and not one of the many other junior oil explorers. I think it demonstrates his value to the company - just my view.
My view on the bonus is to decide who I attribute the Winx and Yukon Gold deals to, as in my view they were deftly done, opportunistic, timely and are as good a safety net as any junior explorer has. If you think DW was the critical factor in this then I think the bonus scheme, to reward future initiatives like this, is worth voting for. If you think the company would have had YG and Winx with or without DW then vote it down.
My view, which seems to be backed up from those who attended last night, is that DW was critical in these deals - anyone who attended last night disagree?