Member Info for dai2belts

No1.. compare...both for the announcement of the rig coming on contract for the JV

EOG, a bit highfalutin
"We are pleased to announce the start of operations at Serenity where the well objective is to prove up additional volumes of hydrocarbons beyond those encountered in the original discovery well, which alone the Operator considers commercially viable. Serenity is a late-stage appraisal and development asset that provides our shareholders with exposure to a very exciting asset that could deliver significant value to our shareholders. This is an exciting time for Europa and I look forward to providing further updates in due course."

To the point
"i3 is very pleased to have commenced the appraisal of the Serenity discovery. The well is designed to prove the extension of the reservoir to the west of the discovery well 13/23c-10 and so prove up additional hydrocarbon volumes in place. This will enable optimisation of any necessary further appraisal and a development plan for the field. Further updates will be provided in due course."

Possible further Appraisal costs

Fund raise will have its advantages, it will allow for an enhanced plan for 2023, maybe as good as phase 1

@No1, I dont know that much, took me by surprise, but really the RNS was just no thrills, start and finish, sweet and short.. Its saying its not going to be a production well, just an appraisal thats going to be left safe..
Even if a good result, and was finished to production standards and design, the traders would leave as it will be years before production starts, just looks like they have gone early.. I guess AIM is about being quick and nimble, any doubt take your profit..

All the wells he 1 were drilling in phase 1 were going to be plugged, but with a bridge plug designed for re-entry to allow further testing if the well was a discovery.. The rest abandoned..
Phase 2, they are going to be finished for production, that implies the hole will be cased to production standards, and well head fitted I guess, if its a duster it will be plug and abandoned and the hole cost more..

No1, I hope your not asking me, I just got my fingers burnt there, ave just under 2.6p.. another long term holding..
When I should have bought here sub 6p :( lol...

Is there a rush to buy, drill is estimated at 30 days, could let price & BB settle and see what the sentiment is
hopefully some experienced posters will give some insight, EOG/e3i Boards

So 30 days drill then testing, logging; porosity & permeability, formation thickness,,,, sampling and down hole production capacity testing, apparently results reasonably promptly whatever that means..

So maybe a rise if gas is found and updated before results, maybe check i3e announcement history to see how they update, seeing the Spud & Abandonment in the same RNS they certainly are not rampers, DM would have got that price moving, missing him now..

Seems the mention of plug & abandon is being blamed for the drop, but it started when the rig was announced under contract, so I suspect it could be the norm, especially since a drift down started before then..

If thats the reason then PRD are touting an extended well test, selling the gas, and initially a small solution to get the gas to market quickly...

Sitting tight hoping some buy to in for the result with being 50% CoS, with oil already discovered.
They are speculating on the oil migrating across the formation

See you have DELT, thats going to get plugged too, might be worth looking into their announcements, what a game..

He1 is looking predictable for basic news flows, and I dont think any background activities will be revealed for a while

For those interest in Spuds n Plugs,
Worth a read, with all the options ending plugged, and EOG falling from the day they collected the rig
Poster Exploration
DELT BB

Shell will have submitted an operational plan which complies with NSTA guidelines. I would guess that it covers several possible outcomes.

1) No shows = plug and abandon with cement plugs placed at intervals determined by the geology. Casing remains in the hole, but is cut at or below seabed. Actually, casing is relatively cheap item of operational costs despite rising cost of steel.

2) Hydrocarbon shows with cores and logs = several options including downhole formation tester to recover fluids at reservoir temperature and pressure to evaluate deliverability. Known in the trade as ‘PVT sampling’. Then plug/abandon.

3) Drill stem test = much more complex operation requiring all sorts of approvals just for a few hours - and still expensive with rig on location. Then plug and abandon.

4) Extended well test = 30 days flow test which poster ‘Geochem’ noted requires a lot of permits and money. Not sure if Deltic is carried by Shell for EWT.

Likely outcome will be gas, and maybe condensate, shows - as in previous three wells on licence in Zechstein carbonates. Followed by the usual RNS saying ‘further analysis is underway to assess commerciality of the discovery’.

@deep100,
LP was efficient, got the job done, unfortunately it was a duster..

Is there any difference
DM comes across as he strongly believes in Tai, but he does'nt know.. LP was convinced, he was wrong..

@Kev, 50% is very good,
If there are 4 risks involved, all equally weighted, source x migration x trap x seal then each has about 84% likely hood of being good..

@Deep100, Is your alias a beer by any chance....
I only took my initial investment out of ADV, it was priority after my Tai-2 lesson, losing almost all in put into that drill, He1 mentioned they could cut the casing to test less than 400m, so when they announced Tai2 I assumed the were going down to the bubbles at 560m.. Made sense since the did'nt say they were going to test the river bed show, but 1 of the shows, so 1 of 2, ...

So LP did sell me a good line and I lost the opportunity to take £12,000 profit, and was chancing staying that long.

Warnings
If your looking for a clue to why it was not the sure things LP claimed...Some times genuine experts join the BB..
"I've reread the section on the seismic reprocessing and I'm not surprised that you are struggling to read or understand it, its full of advanced geophysics. So I'll keep it simple. The reprocessing of the seismic has re-positioned the top of the reservoir. It has also done the same to the seismic imagery immediately above the reservoir. Some of these events are distinct and mapable markers on the seismic and will have target depths. If they are distinct lithology breaks then they can be picked easily and should be able to indicate if the well is on prognosis or not. Now the not so good news. I think all the key markers that they will look for are from the top of the Echuca Shoals formation which will be encountered just above the next casing point. I'm not sure that Carnarvon will make any mention of this in any press release though. From Leslie Peterkins interview today it also looks like they may be a few days behind schedule which would put the penetration of the reservoir conveniently on a Saturday.

ADV rose to highs the day before results, I had sold the day before, even that was too close
Checked, ADV were leaving the well ready for production

PRD, ordered well heads for all their wells, and if successful say they will be running extended testing and selling the gas.
So I guess that should add some support to the price ;)
Might be worth watching for updates around TD, morning RNS might get a spike as I guess there will be a wait for results if a discovery...so more news

He1, Phase 1 was exploration followed by appraisal drillings, so those wells would have been plugged too, totally different reaction...

Interestingly He1 said they would use bridge-plugs on discovery wells to allow re-entry if there was a need for further sampling. But you need a rig to remove the plug, and then to seal the hole once finished.. I have pondered over whether they did that after tai-2 was drilled, and if tai-2 was drilled in between.. You know, maybe waiting for helium to seep into the bore over a number of days ??
Pondering over the comment saying the wells would be capped for re-entry

@Kev EOG is been on a downward trend since the rig was announced on contract, so checked for news, checked the JV prices, blue... so just thought selling on news, will buy back, should get close to highs before announcement..
Then todays news has extended the losses...
Just mentions Spud, 30 days drill, abandon, non of the usual hype like, almost a given, transformational drill targeting mega million barrels of oil.. bubbles
Where is the excitement there,
They even have a backup plan if the well is 20 flipper paces out, funds ready for a sidetrack, so a second shot to get the big investors out ;)

By the way DM said this well will be finished for production, I hope he remembers that..

Oiler SPUD announced today accompanied by Appraisal well will be ABANDONED and PLUGGED..

The few I have followed have risen on spud as I guess that confirms its all go but looks like this particular share is being abandoned, traders done and dusted..

So I guess its worth knowing how a well will be left, before jumping in on a spud....

Appraisal has always been highlighted over an exploration well because oil has already been discovered so a lower risk, in this case to prove the extent of the field, transformational for the smaller JV partner.. But looks like not many are hanging around..maybe they will be back when the price is right..

Void, DM Maverick, maybe paid interview, Mr Crux would have crucified him,

The first mention of an Engine Management System issue was on this BB, remember the fault was injectors...
Could be coincidence????

All the licence numbers are in the RNS, corresponding maps in IPO doc and presentations..take a look

There are licences still full in the lake, they are only part relinquishing those up for renewal, you can relinquish at any time.. So why are they not part relinquishing all in the lake , it would Make Sense, they are in the criteria.. ;)
That satellite image, so promising is in a licence being part relinquished...

I dont really know....

Maybe the licences are made up of smaller blocks, and the areas are being down sized, and maybe we maintain the areas above the prospective closures, maybe they are relinquishing drilling rights but keeping surveying activities such as seismic.. Maybe a combination ???
We dont know do we?
We just know it Makes Sense...

but the licences hold our assests, thats all the company has, $13m impairment cost if all were relinquished..
So a lot has been invested, yet the changes are going to save just a few hundred thousand..

Not Making Sense now..????

So do you think its trivial ?

Void, Pornhub, a blast from the past ;)
Amazing you cant say checkout, the latest drilling video on
https://www.***************************/helium-one-on-track-and-progressing-well-for-2022-drilling-video/4121070971

But you can say say check out the latest drilling video on
Pornhub,com

Void, DD13 negative post , he is just Pi55ed, he believed DM was holding back to announce at the optimum time for 2022..
Now its all down to the to the bakers being on time..

Void, The partially relinquished licences are also still alive,
That satellite image tease, partially relinquished area, thats why he should explain the impact, not just cost savings..
If that Makes Sense

@Bluebay, he was asked about the licences, out of 14, 2 are being surrendered totally, 6 part relinquished, whats the impact if any on the portfolio of assets.. Describing the selection criteria is nice to know, but useless info, thats all he has told.. why?

Anyone got a free site that shows live spreads, accurately..
I normally use investing . com, but spreads seem to be lagging, or just not updating, been happening for a while now

@Scott, he still got around her, just like a politician,

@Alfred, I googled the letters, but you said no sympathy..;)
Did you win anything on your game, ?
listening to the youtube video promoting the site, I guess you can follow the top tipsters,
The only thing there will be when they jump I will be left holding the bag
Orr, apparently they have a rainy season so, its going to be quite, for a while.
Do you have a position there?