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Yes, one could probably say it actually puts us in a favourable position vs some of the other producers, if they’re introduced (and we get going).
Agree Callum, fyi when I read into this when they were initially introduced it was for large scale producers only. Significantly above the volume Syn would reach for a while even if we were to get started on drilling new wells next year. It was also based upon historical volumes, so nothing to lose any sleep over from what I understood.
Callum, good thing Syn is in gas business then, not crude.
Elegance, yes if not this week, I am hopeful that next week we will have an update if the tubing re-install alone has done the trick. Need to get ready to have stable operations in time for the price hike
$6.1 (current) —> $10.5 (Oct 1st) expected
https://www.bqprime.com/amp/economy-finance/natural-gas-prices-may-double-in-october-capping-it-may-not-be-a-solution
Sorry to hear Gordon, hope is short lived. Good to see we continue to move forward. And re CCS, I was thinking there would be some kind of update, based upon their last
sentence in the paragraph, within the quarterly report. I read on NSTA, the applicants aren’t publicly published, so great to see there is still a long-term play on the go, beyond Cambay.
Yes, I dont have the spreadsheet I pulled together here but yes I agree we really need to get to point where we’re close to break even (steady operations), that way they focus on the JV. If they can co-mingle the two wells then it shouldn’t be too far off if we can get to/sustain at 1.25 gas + equal increase in condensate, along w gas price increase. This despite increase in operational costs no doubt.
Yep, you’re right. still believe it’s worthwhile to do your own individual assessments, even if only it is to be told you were miles off! Surely we will have some kind of update either this or latest by end of next week one would think.
Agree Gordon, hence why I said conservative, as any downtime for essential works means less revenue etc. I agree, I did anyhow put in some allocation for rig hire etc. obviously, only a set of figures based upon estimate prices available in public domain. Also I have estimated actual production days vs non-production days
Past figures are in q report, so assume is used by BP to reach his conclusion. Looking forward to learn details and assumptions he has used.
Bp, things are novi forward. Why is funding the elephant? I ran conservative calculations based upon cash burn, cash position from last quarterly report. I’m not concerned, but obviously also keen to see some tangible and positive news in coming weeks.
They need to get flow rates stable, ideally at 1 from 77, and then co-mingle the two operational wells so we can to a stable flow of around 1.25 without any down-time. This coupled with increase in sales price come October should mean we’re close to break even until jv/new wells are started to be worked upon. Important month we’re in.
Jack, have a look to quarterly report for your flow question. It mentions various things.
S, I believe there are two ways of looking at this.
1. The impatient
2. The patient
If you look at last quarterly report it mentions 30-60 days to complete the work. The franc was completed 27th July, which means they have all of September to meet this long date.
I do however agree that the interim post-frac updates indicated it would be done in less time.
In the end, it is moving forward so although I do understand the ones with short-term perspective might feel as you say below. I’m however pleased to see they’re moving things forward, supported by very upbeat statuses on the success of proving the new franc methodology applied.
Seeing the offtake agreement price is due to increase significantly come October, must admit I prefer them spending time in September to get things done so we can have less down-time come the date when new price has come into effect.
Actual wording below, they simply forwarded a post already posted by Synergia adding below text to it:
Glad to announce that recently Manan and Bedrock Drilling Limited successfully completed workover and a Multistage Hydrofrac campaign for Synergia Energy (previous Oilex)
Hi Gordon, I see Knowles provided. I can’t see anything incorrect in your summary.
which becomes even more promising by noticing they are looking for additional resources in support of their Gujarat operations.
https://www.linkedin.com/posts/mananoilfieldservicesprivatelimited_hiring-oilandgasjobs-workoverjobs-activity-6970990596542857216-KLX5?utm_source=share&utm_medium=member_desktop
Nice to see Manan, from their end, also publish the re-frac as being successful. Although hardly a surprise, always nice to have it coming from more than one source.
https://www.linkedin.com/posts/mananoilfieldservicesprivatelimited_cambay-c-77h-re-frac-operations-update-no6-activity-6959732841651802112-YbC_?utm_source=share&utm_medium=member_desktop
..future looks strong.
https://oilprice.com/Latest-Energy-News/World-News/Oil-And-Gas-Producers-To-Break-New-Cash-Flow-Records.html
Have a fun Bank Holiday weekend all.