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https://twitter.com/Share_Talk/status/1638152249619935233?t=IV4qmLNw5RJw2_eBjnyi0g&s=19
Guess we will see
HI Gordon
Yes a lot has changed ,more dilution of the share base is a negative but owning the whole of Cambay a positive etc etc.
hard to put a figure on the deal but it gives a "finger in the air "reference point
By the way Happy st Pats all, Im out for a Guinness later then a nice Irish whiskey (note how I spelt whiskey )
Slan go foil
I knew it was somwhere
03 October 2013
MAGNA CAMBAY TRANSACTION UPDATE
Oilex Ltd (ASX: OEX, AIM: OEX. "Oilex"), refers to its announcement of 9 August 2013 (Announcement) in relation to its agreement (Sale Agreement) with Magna Energy Limited (Magna) whereby Oilex has agreed to sell up to a 15% participating interest in the Cambay Production Sharing Contract (Participating Interest) incorporating its Tight Hydrocarbon Project in Gujarat, India.
Under the Sale Agreement, Magna has the right to acquire:
(a) a 10% Participating Interest for US$4 million (Sale Interest); and
(b) an additional 5% Participating Interest for US$2 million (Option Interest).
Magna has already paid Oilex a US$ 200,000 deposit towards the Sale Interest.
15% for $6M adjusted for inflation it was 2013 after all so $10m for 15% sounds right or maybe $35M for 50%
so NPV $70M minimum just with cambay excluding CCS etc and progress on wells
all back of *** packet stuff
Also this is due by April some time
UK CCS
The Company has submitted applications under the North Sea Transition Authority's ("NSTA") 1st carbon storage licensing round. Synergia has made two separate license applications covering depleted gas fields in the UKCS, which if successful will provide c.100 MT of CO2 storage capacity to complement the Company's Medway Hub CCS project. Development of the project would be subject to the Company securing the necessary funding.
That torrent power the local power utility and they are mentioned in the tOP 20 oil and gas comapanies article i posted
Torrent Power Limited
Torrent Power Limited is an Indian private sector electric utility company. It was founded in 1996 and is headquartered in Ahmedabad. The company is engaged in the generation, transmission, and distribution of electricity to industrial, commercial, and residential customers.
Torrent Power operates in several cities , including Ahmedabad, Bhiwandi, Surat, and Gandhinagar, and has a total installed capacity of over 4,000 MW.
The company is focused on providing reliable and cost-effective electricity services to its customers and is involved in various initiatives to promote energy efficiency and conservation.
In addition to its power generation and distribution business, Torrent Power is involved in various other businesses including natural gas distribution, solar power generation, and power trading.
so we have a top twenty National power company intrested in our CCS scheme ,SYN tweeted /RNS it
which makes me bet we will get several of those top twenty oil and gas companies bidding for the 50% and maybe few of the newer ones who are owned by Indian billionaires etc maybe like Baharat petroleum
https://www.bharatpetroleum.in/
Just my guess
https://www.rigzone.com/news/oil_gas/a/128372/Oilex_to_Sell_Partial_Stake_in_Cambay_PSC_to_Magna_Energy/?pgNum=1
For the life of me cant remember how much it was but does give some idea of NPV etc
MY second guess would be
BPRL
In BPRL’s Indian OALP Operated block, CB-ONHP-2017/9, located in onshore Cambay Basin, Gujarat, exploration drilling prospects have been identified and activities are planned towards the minimum work program.
and the others a few of the lesser known but cash rich EP companies
Just my two cents take it or leave it its jsut a game to fill in the time
Cairn have been linked to Oilex (Syn )way back to Miller and Mike watts
I think Mike watts and I think it was magna or something like that paid a premium for a certain percentage of Oilex back then so that give some rough guides
Its interesting Cairn have a large field In Cambay next door to our Field CB/OS-2
I guess if you can prove up SYNS field then the whole area opens up as the geolgy is similar
Or maybe one of these?
https://www.inventiva.co.in/trends/top-20-oil-energy-companies-in-india/
How about we play a game
its called guess who the Joint venture will be with
here's one candidate
https://www.cnbctv18.com/economy/vedanta-chairman-anil-agarwal-renewable-energy-india-explore-oil-gas-twitter-hzl-16161281.htm
https://jpt.spe.org/twa/jet-pumps-an-efficient-technology-for-production-enhancement-of-mature-oil-fields
Some other advantages of jet pumps over other lift systems are as follows (Lea and Henry, 1999):
Typically, no rig is required to retrieve free pumps. In many cases, this may be the primary advantage of jet pump systems as compared to the other systems
Can operate reliably in deviated wells. They can adapt to tight turns up to 24°/100 ft in severity and are as reliable in deviated holes as in straight holes
Have no moving parts and therefore no mechanical wear
Can perform better in higher gas-to-liquid ratio wells than ESPs
Standard jet pumps can operate successfully in temperatures as high as 500°F by simply using high-temperature elastomers for their O-rings and seal rings
Have low maintenance costs
Compact, simple, and rig-free design enables easy transportation to remote well sites
Manufactured using corrosion-resistant alloy
Ability to produce as low as 6 °API oil
Economic Analysis
The selection and suitability of jet pump lift systems are governed by a variety of technical and economic factors. Jet pumps are low-cost items in any application, compared with alternative boosting systems, and can be used effectively to maximize the production performance. A case study was done on a dead well of a mature oilfield, which was completed with dual strings of size 2?-in. and 7-in. casing and producing from two separate formations. The upper formation being produced independently via short string was loaded up for almost 3 years, because the API and GOR from the formation were very low along with high water cut. To revive the well, a jet pump was installed in the short string in a sliding side door (SSD), and the short string was tested first with the long string being isolated (S. A. K. et al., 2016; Brown, 1977).
The results of the study: A dead well was successfully revitalized with the cumulative production of 380 B/D, i.e., an average of 100 BOPD and 280 BWPD, which was higher than the targeted production rates evaluated for this well. The conclusion drawn from this case study was that the jet pump was successfully deployed in the SSD of the upper formation with a 7A N/T combination.
"A dead well was successfully revitalized with the cumulative production of 380 B/D," how many of those is there in Cambay?
#syn #ccs #know what your invested in
European carbon price reaches €100 a tonne threshold https://www.ft.com/content/926cd95c-0ca4-4e88-9638-eed20ac1ef24#post-7c8c4cdc-6df5-43cb-9c5a-f7ea393b64fa via @financialtimes
Latest in cairn our neighbours in Cambay seems they are interested in shale oil and gas again !
https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/oil/020923-interview-cairn-india-to-accelerate-oil-gas-exploration-despite-energy-transition-says-ceo