Member Info for Deeko19

Seav, I say this not in a patronising way but please read up on the last RNS’s.

Once an oil company has reserves I.e. drilled a well and found oil or gas that’s commercially viable, they can then approach a bank for Reserve lending.

Longboat are being awarded reserves I.e we are skipping the drilling part and going right to the ‘we found hydrocarbons, let’s develop it’ part.

Geraldine has just joined the board and has 35 years experience in financing within the oil and gas industry including RBL’s. That’s no coincidence IMO that they would bring her in days after finding out about the DRO award.

RBL will be used to fund this and 20p share price will look like a gift IMO.

Not really a fair assessment.

We’re being awarded several already drilled and proven fields - news pending next week.

Majors already wanting to farm in to the block - if they have a rig on contract already (typically a major will have a rig on contract for say 2 years (to do infill wells, exploration and work overs) and within that two years, they will have a large chunk of time that the rig is sat at port doing nothing. If they farm in that space will get filled quickly with an exploration well. Better to drill a well rather than paying 300,000k a day to sit in port.

Secondly there are the terms of a farm out, how much cash are they paying to farm in? Lots of work already done on Kieran’s and the partner will need to pay the going rate to get in.

Then there is the turf war between shell and total in Malaysia with shell dominating the acreage in our region and total wanting to get in. How much do total want it and how much do she’ll want them away from their adjacent blocks.

Lots going on. Market not caught up yet.

Https://www.petronas.com/media/media-releases/petronas-inks-2-dro-clusters-production-sharing-contracts-boost-gas-supply-0

Found an article on the PETRONAS website last night relating to 2023 DRO awards.

1 field was 4 TCF of discovered and appraised gas resource. Gas was high CO2 concentration so CCS required.

The second which was highlighted several times as a small award was 260 Bcf of sweet gas which is close to 50 MMboe resources. Amazing that Petronas are giving these away, in Norway people are spending £50+ million for half that.

To put it into context, Jadestones Akentara gas field development is 69 Bcf of gas resource.

Just done a quick google search on gas field developments offshore Sarawak.

Everything I’m finding is hundreds of Bcf to Tcf volumes and rates in the several 250 MMscf (50,000 boe) upto 1 bcf (175,000 boe).

I’m not by any means suggesting it will be anywhere near this but it shows that something like DEWA could still be magnitudes above what anything we would have found in Norway.

Not sure why it cut off the rest of the message.

Basically the gist was, your shells and Totals dominate the region. What’s small for them (25, 50,75,100 million now) is company making for us.

Kvikja was 3.5 million net. We’re being gifted what I would suspect is multiples of this by PETRONAS.

Great to know. Menzies has clout in Malaysia to pull this off.

Genuinely scary to imagine what this would if the DRO’s are decent volumes.

Considering Malaysia is dominated by majors only. A minor discovery to a major would be

Keeps marching on. Looking likely that we’ll start to see true value on the Mcap.

DRO, CPR, farm out partner and hopefully then a drill date!

Ezra Machnikowski - total capital under management of 3.7 billion! Chump change. Wonder if he’ll keep increasing?

He obviously see’s the value potential here.

The big guys are liking this!

It’s fairly common to leave a pipeline in place. Depending on the method of setting I.e if it’s trenched and buried generally you will do more harm than good removing it.

Similarly, pipelines will usually be pigged and left in place, lots of sea creatures make homes around these if not buried.

It’s really not hard to explain why removing X km of pipeline from a sea floor swarming with life is a silly idea. But the. Governments arnt run by scientist or engineers, usually just idiots with a politics degree without a single clue of the fundamentals for what they are actually arguing for or against.

Yes, the shares appear to be sitting in more patient hands now.

Looking forward to the CPR, DRO and investor presentation in the next week or so. Hopefully, Menzies is out speaking with institutions and storing up interest to remove even more shares from circulation.

Poor Alistair Bruce, he must be seething with Jonathan now!

Holdings

100%

Happy to sit back here and watch.

57,000,000 shares in circulation. MM are doing what they do, trying to make some cash on spreads, brokers are doing what they do, trying to make money on buys and sells.

Massively undervalued and LBE has huge news due in the next week

Zengas, brilliant analysis once again. Every post has been informative,

I noted the DRO’s last night as DEWA and Ketapu. Strangely I could t find anything on DEWA via google but managed to find some old info from JAPEX buying in on Ketapu. Suspected it may have been Ketapu but now confirmed as DEWA.

If anyone can find info on these assets (sounds like multiple fields as described in the RNS) please post it here

Ash, glad to have you fully engaged and looking forward to the future here!

I’m happy with my top ups but fully understand why, after several years here you decided to sit out! I have full faith this will come very good for you!

I recall James had presented the work on Kertang at the annual EAGA (European association of Geoscientist and engineers), I think they won an award for this presentation as explorer of the year.

But to present it here, there would have been some very good questions and challenges by some very competent senior geologist, geophysicists and petrophysicist. Generally companies large and small send representatives to conferences like this to present on their own work but also to identify opportunities within a region. I guess this is where all the excitement from majors has come from?

My guess would be the technical work is sound, it’s already been critiqued and the CRP reiterates what we think we’ve got. Roll on end of the month.

Comment from the CEO of total following the sale of mature assets in Brunei

‘This transaction fits with our strategy to actively manage our portfolio by monetising mature assets and to allocate our talents to the most promising assets’

They are hunting for monster fields in Malaysia

Zengas your bang on the money with the estimate.

To put it in perspective though, Consider the Kjottkate (no idea if that is spelled correctly) well in Norway is targeting 30 million boe. And there are many wells in Norway being drilled at similar resource vs cost.

1.5 billion Boe prospective resource is cheap, cheap! Farm in will likely include cash and free carry if the CPR looks good. With the added benefit that TOTAL have moved into Malaysia with an acquisition and growth objectives to rival shell, I’d hope that would inspire a bidding war particularly since she’ll own the block next door. If they even suspect something interesting straddles the boarder of the block they’ll be wanting to ensure total didn’t get a free ticket into their exploration drill.