Member Info for ericnat17

Through out the FSC, BM was asked if the basin model was still intact after the result of TE9. Every time he said that the model was still valid. His statement that the COS of TE10 seemed to be paradoxical to statement about the Basin Model.

But of course it is not. The basin model is all about the amount of gas that has been produced in the Kitchen and trapped. The problem is now as far as I can see is that the Gas produced is far more likely to be trapped in a reservoir that is too tight to extract. Therefore we could have a basin model that predicts 100TCF of gas but none of its is extractable due to poor P&P.

Hi Steve

Really hard to say. JP appears very determined to carry on regardless. But the key word here is appears.

If something material happens then the plan will change

Hi Jack

Fastnet would have not known how poor and complex the P&P was in the TAGI, to be frank it was news to many LTH how severe the issue was at the DD. And the sound geologists spent alot of time on the explanation of the TE8 result.

So TE8 and now TE9 have provided information that Fastnet would not have known about.

hi Jobs

HE says Tighter.

"Thank you for the idea. This isn't our plan. There are lots of reasons why this isn't a great plan in our view (including the volume in SBL - about 80Bcf all compartmentalised and it is tighter and 1,000 metres deeper than TE5)."

and then BM says

"just to clarify further, the TAGI in SBK is 1000m deeper than Te5 and will be very tight and largely non-productive. also it is compartmentalised and a real non starter"

250

That argument has been put forward a few times. If there is loads of gas “trapped”and the reservoir is porous then it migrates to the he surface.

BM mentions it at the DD and they are analysing the areas of TE9 and TE10 now. It would be good to see the results before we SPUD.

It appears Sound wanted to understand Scotforth mechanisms of identifying leads, but Scotforth was not happy to share that. I guess I would not want to give away my intellectual property either.

80bcf is an awful lot of gas and you would think they would be interested in it, but on 2 occasions JP was asked about it he said the reservoir was too tight, and they would not look at it further. I wonder if that is the problem with all of the old wells that have been gas bearing.

That would be very concerning, that out of all the historical wells only TE5 Horst shows a reservoir quality that allows for extraction.

Morning PNE

I not sure I could go through the pain of going again. Currently you could argue that Sound needs to have the same fate as the dog......

https://m.youtube.com/watch?v=94aV1XFsMdg

I think I remeber that 2 out of 3 Algeria exploration wells miss the reservoir.

Difference is the Algeria reservoir does not have a P&P problem.

P&P is our major risk in Tendrara. So even after we are skilful enough to hit the reservoir we also need to be in area of good P&P.

From JPs comments on the FSC, even though SBK hit a gas bearing reservoir the P&P make it worthless.

https://gettingthedealthrough.com/area/24/jurisdiction/139/oil-regulation-morocco/

Cannae

Nice to see some of the old guard still about. Few and far......

I think we need to see the results of the ground analysis ASAP.....if neg for TE9 and positive for TE10 then...

Oh.....I get it now. That was far too subtle for me, very funny.

I am am just off to get a ready meal for the lucky lady, I will have you know only Waitrose will do....

Have a nice meal

So I read from that quote from BM, the team have not lost confidence in me yet, they only know about one of the dusters.

Why the £100 pound cost?

Is RELATE, listed on Aim. I would say we have some insider knowledge, they are going to have tremendous 2019....

Well PNE

I will wish you good luck.

I will buy more, but only sub 10. I have a buy order set up.

Is that the figure we have arrrived at 23p. Well that’s great....not.

And that is to sound taking it to development.

Any company that buys the asset will want a big discount so they can take a good margin and take out any risk. They also will want a discount for tying up 250 million in capital for 10 plus years.

How much of a discount, the guess is yours but I would not be surprised at 50%, equating to 12p per share. And loot at where we are now....the market...is annoying.

That was a bit weird, what was in our post that justified deletion?

Do we have to pay BOT cost out of this as well. The BOT is 45 million a year...

31v 39

Over 1 million iron the sell side

Grim

Oh bugger.

Sorry BlueB, Fellrunner