Member Info for davidblack

Dividends in Canada are very tax inefficient

Shell don’t find things they buy them.

Carapal Ridge was acquired through a takeover of a Canadian Junior by British Gas who Shell subsequently purchased.

Essentially the old Shell Company stopped exploring onshore when Trindad started to want to build its own oil company base post independence.

Also any investment in smaller exploration countries like Trinidad simply stopped when the Groningen field in Northern Holland was discovered and kicked off the Southern North Sea.

Groningen was a mega cash cow when it came into production but before that it ate up all their capital, manpower, geological and engineering capabilities.

The 1970s and 1980s were for Shell and BP all about the northern North Sea so Trinidad was parked for decades.

A juicy opportunity more like as capital is now required to complete this.

Should double EQT’s interest but discount that by 100% for delays with the result no change!

Drop down due to the Primary Bid placees many of whom were trying to “Stag” the placing ie looking for a quick profit.

That didn’t work out as the Green market pulled back so they just need to exit. Been 5 weeks so should be gone shortly and then let’s see the deals start to flow?

Used to own a tiny Hinomoto E23 tractor back in the 1980s which was great fun as it could get anywhere.

Not sure that qualifies as it was a toy in comparison.

Great for removing timber in a tightly planted wood.

Herr Goebbels would be proud of you Beckman.

Turning net buying into only selling.

Elegantly done but a deceitful lie none the less.

Sorry I meant whether the environmental report for Cascadura would also include Chinook?

Wonder if that block approval includes Chinook which historically was part of the Cascadura area until they changed to the fish naming convention?

No but maybe you have an agenda?

First post I see.

You are wrong on the new drill being a significant burden as it’s going to be “Run in” as it were drilling 4 short holes in the legacy area to make sure it’s running well and the local crews are trained in a low challenges environment.

All four wells will be quickly hooked up via the existing pipes with permits in place. And then bank financed if felt necessary.

Why four wholes on the legacy area? Well that’s likely to make the licence extension agreement there are lot easier.

So cash generative not the other way around.

The first deep exploration hole in 2022 will cost cashflow obviously.

Like that PB was thanking the Minister re untangling issues on Coho.

Bodes well.

Drilled for hydrocarbons and hit hydrocarbons.

Ok not the ones we expected but the one thing we now know is that TXP struggles to predict whether something is gas or oil. To date three targets drilled and only one ie Coho was the correct prediction.

But if we have to take 30m barrels of oil at Chinook then so be it?

Apparently the petroleum industry including exploration and support services is exempt.

The opportunity cost is against Coho further drills at present.

$3m spent at Coho will probably get them 10m mcf pd.

$5m spent at Cascadura probably 20-30m on the downside and upside 30-40m mcf pd.

So until Cascadura is drilled out Coho is likely to wait.

Two to three weeks is the expectation

Yes there is substance behind your comment.

All deals are papered with NDA’s so we will get news only when everything is signed and sealed. Till then we wait!

Many thanks yep and certainly oil was and apparently now has returned as the agenda item.

Still puzzled that there might be mud damage but I suppose we will find out soon enough.