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That article also seems to imply that hammerhead extends below JL. Surely not!

The new seismic survey by Exxon covers our block and up to JL but that seems crazy!

- Looking at the volume, the market knows nothing
- Marine License extended to 45 square km
- Survey point with ‘Node’ capability hired and on block
- Tomorrow is 35 days of drilling
- TLW have completed dusters in 59% of allotted time, this is currently at 87%.

My question is, why would more money be spent on a node survey if they hit a duster. We know the strategy was to side track in the event of success. Well I think the market is missing a trick.

With a big late reported trade too. 1.8m

Spudz - I am getting excited now. Just to add, during the TLW presentation they said they will be drilling into the interesting bit ‘very soon’, the next day they requested the extension to drilling.

It costs a bloody fortune and would only be commissioned in the event the biggest target was successful imo. To consider the first drill has now been named JL-1 and they have various prospects surrounding the canyon that will be subject to sidetrack as per Gill interviews. Watch this space imo. With this level of info in public domain now, surely the company has to pass comment! Imminent imo.

Node survey. This is fantastic news.

Sorubim-1 was named as this well from Spud, JL has been renamed JL-1

https://onward-online.com/pacific-harriers-seismic-capability/

After being criticized about the ‘node survey’ following the marine update and increase to45 square meters. Looks like I was right as the Cacey vessel will assist the Pacific Harrier.

This is a survey that is normally only done if they want a clearer indication of what’s surrounding the canyon for future sidetracks which was only going to be the case in the vent of successful outcome.

Imo

I have been thinking about this one and to be honest, it’s not because of the volume that the buyer would wish to remain anonymous. Larger trades went through today that would of attracted more interest, so this leaves me to think, it must be an entity that is building a stake. We have seen a number of significant buy side trades over the last few trading days. I can’t help but think that after reports of appointing a broker who specializes over the sale of companies. Do we have someone building a stake at these lower prices in anticipation of a takeover bid?

QP/Total maybe! Any thoughts?

WilkC - Another great contribution, very interesting.

Jim, would it not be realistic to assume that logging associated with an oil discovery would take longer than a dry well? I may well be wrong, but I would be keen to gain as much data as possible and would pay for the privilege (additional drilling days), to gain this data in the event of a discovery, not so much if it’s dry. Coring also likely.

My point being, it’s possible to gain data while drilling but if it’s dry, you would plug and abandon ASAP. If it’s a discovery, you would be inclined to take it to full term as the 40 day drill period was always seen as conservative and Hess have drilled to TD and logged at an average rate of 22 days, into the Cretaceous.

New basin or not, the same applies for Namibia.

Wilk - I appreciate its taking my research/evaluation perhaps a step to far, however on the basis of the logical evaluation. The original 40 day drill period would take the lower Cretaceous target into consideration, making 80% logical.

For every day that passes, no news is good news imo.

Tullow Oil drilled Namibia which was expected to take 34 days and was drilled and abandoned in 20 days as it was a duster as their was nothing to evaluate. This equates to Spud - TD in 59% of the projected time.

Guyana - JL has now taken 32 days or 80% of the allotted time in an area where on the adjacent block the average drill time to TD has taken 22 days.

My point is, evaluate a dry hole and your done and dusted quickly as their is nothing to evaluate. Evaluate a discovery, this is more likely to go the full term or close too. I consider us in the close to bracket which is 80/100% of the full term. Especially when you consider we have a higher and lower target.

Pre market spread at 64 v 69 made me laugh as they bounce it back to 68 v 69 which was Friday’s true closing price due to the false 70p bump.

Tight ship, for now!

That beyond all reasonable doubt we will know we have drilled through our first prospect. While speculation exists and TLW have historically provided a ‘Well update’ before reaching TD, and that large volume on the TSX in the closing minutes on Friday was seen by some as to indicate the greater good, to date during this drilling period the ship appears to be tight!

Good luck everyone, for however prepared my mind is to be exposed to the outcome of the drill, I can’t help but feel confident!

Seen it before many times with intraday RNS’s that the market gets wind of an RNS being logged and the volume picks up significantly. I can vividly remember it with RKH.

If the companies have price sensitive information then it won’t matter if Canada is closed or not imo. TLW being the operator will do its thing, and if, if their has been a leak then expect the big hitter to continue buying the LSE listed shares first thing, with or without an announcement.

It’s a shame, because bright spot posts have historically been educated. Taking into consideration the high volume on TSX in the last hour yesterday and the fact that it’s now highly probable that we are in or have drilled through JL. Next week promises fireworks imo.

O&W, loads, Rockhopper for one, cant believe how worried people are, this is Exploration and a wildcat, what did everyone expect! Chill!

They will core and log, not sure they would do a dst right now but payzone makes next week very interesting

Tbh looking at the late close to TSX I take more comfort looking at our share price than a future development of currently unfound oil that will take 3 years odd to first oil!

Imminent update imo. Must be, surly, hopefully :-)