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schlemiel, 'billion' ? My guess would be they are planning a 2 well drilling program....
Oleo, thanks for taking the time to explain the fallacy of their extrapolation to 5mmcfd.
hydro, here's a technical paper on the the issue: https://www.sciencedirect.com/science/article/pii/S2352854021000772
Odie, thank you for the good luck wishes. And I wish the same to you. Who knows maybe in the next 6 months as the share price probably floats down, I may see something to bring me back in. FOG's capacities to raise funding just got more expensive, and their sale negotiating stance just took a nasty hit. But, it might all work out at some point in the future.
Since I have no faith in Origin, and hoped Tambo would prove up their prospect, I see bleak days ahead. Actually, I had wanted to sell yesterday, but there just didn't seem to be the vol. to get me out, so I closed my eyes and held on tight. That faint hope evaporated this AM. Good luck to everyone.
schlemiel, ya know, like all of us retail shareholder (and longer suffering), there is nothing that would like better than to see than a well that actually makes a profit. When, however, you see a statement "the drilling of the Velkerri 76 S2-1 well was completed with encouraging preliminary results indicating that the Velkerri shales at this location are within the wet gas maturity window. Core sample analysis is being undertaken to determine gas composition": you have to conclude,that you would rather see a well that proved to be commercially successful than one that seems promising and needs studying....
ooopps, not 1/3 but should have typed 2/3rds.....I was distracted by Mahomes amazing QBing.
new,
Your comment re why Santos only fracced a 1/3 of the length reminds me of the Christmas joke when the young boy opens his Christmas stocking and finds a horse turd in it. He reaches to conclude that he must have been given the pony he wanted.
Actually hit a 52 week high on the US.
Big jump in share price on the US exchange. 12%
new,
perhaps you or one of our seasoned experts can explain the danger a fault presents to the casing. I assume one would think a "fault" is automatically bad, but I can't understand it if the fault isn't active and simply an historical record of an early movement. Interestingly enough the Northern Territory basically has no earthquakes except at Tennant Creek, a small local that has hosted all the earthquakes that have occured in the NT. It's about 240 miles from Daly Waters. https://earthquaketrack.com/p/australia/northern-territory/recent
smallfish, actually since Origin is worse than awful in their management of the drilling, I'm happy to see they aren't heading out to build a new pad and thereby saving millions.. But, apparently they just couldn't break their habit of ****ing away money and decided to waste it on 40km2 of seismic. Gawd only knows how many hours are going to be costed internally to their inclusive committees studying the seismic results, and that's not even figuring in the cost of educating them on what a seismic study looks like.
new, thanks for the honorable mention. It really doesn't matter how much money is left in the Origin obligation....IT WON'T BE ENOUGH.
Hhaving a fixed carry. Origin will spend $10 for $1 worth of work.
what could conflict in Ukraine mean for energy markets 1) directly, very little, as domestic supplies are low and piped volumes could largely be re-routed 2) if sanctions were implemented, the world would see record oil and gas prices, even if sanctions were poorly enforced 3) sanctioning oil exports could be challenging, given Russia's ability to export to places like China; furthermore, higher prices would offset much of the volume impact to export receipts 4) sanctioning gas exports could cut into Russia's export revenue, but would create energy shortages globally and drive costs for everything from heat, to electricity and food to new highs 5) those most impacted by high prices and shortages would be the ~3b people worldwide living in energy poverty, as every molecule of coal, gas and oil would be bid up and exported to the wealthy, Western nations implementing the sanctions.
hydro, my only question re your theory on Sheffield being a mystery buyer is I really have a hard time seeing a successful oil man wanting to take subservient position to Origin. If we started to hear some comments from FOG or Origin regarding a break away of FOG's subservient positon to one of a more self directed self actualizing company, then I might be able to give your theory a little more credance.
JS490,
I'd love to revisit the Mako and I'd really love seeing the Karoo get drilled. But, we are not exactly flush with cash, nor do we have E&P talent. Other than those two limiting conditions, I'd say full steam ahead in the Mako.
Setbol,
This is going to be very expensive, and unless there is a large ransom paid upfront with a serious royalty arrangement following, I think this could drag on for years.
new,
I'd like to fantasize if Tambo/Santos have a hiccup in the drilling Origin could pickup their guys and have them work on the Orgin/Falcon prospect. One can dream.....
Woodside Petroleum (WPL.AX) and Santos (STO.AX), Australia's biggest oil and gas firms, climbed 4.1% and 3.3%, respectively, lifting the broader energy index (.AXEJ) nearly 3% higher.