Member Info for Espenviking

Thanks Dicko, agree. It was partially a tongue in cheek, seeing article was from 10 years ago. And yes Gordon. Hopefully the 6 months since officially announcing farm-out process means they are already discussing with future partner the FID ((financial investment decisions). Hopefully that’s why they’ve already starting procurement process.

Echo that Gordon. Wonder if rig delivery times are still as they were at time of this article: https://valve-world.net/oilex-secures-essar-rig-for-drilling-cambay-77h/

Nice reading, yes the $725m npv was modelled on 10-well model, whereas the full dev plan is for 30. Which basically means all is in place to start producing (exploration is done). One would assume that Roland has a requirement for rapid FID decisions to be made together with new partner. This appears to be supported by recent RNS about work for long lead time orders have been kicked off already. He wants this to get moving as swiftly as possible. Pumps is common, so yes with constant plateau production on test well, it’s looking promising.

No doubt new partner will risk assess everything, based upon their due diligence, which is common practice. This will be reflected in their offer indeed. I also see Moyes has corrected the brief on their web site. Roland/we need to get funding for initial two wells, but whoever teams up, are in for production from 30 wells initially.

God info dicko, appreciate. All seems to tie in with previous updates they’ve shared. Good to have it validated, along with some additional commentary

Two of the three RNS this year has come on a Wednesday, just saying..

So we know from public ally available information:
-13 areas open for grab
-26 bids
-19 companies
- 2 bids submitted by Syn

Nothing too specific, but mentions license awards are still due to early this year (as we know already) - always nice with confirmation it’s still on track

https://www.nstauthority.co.uk/news-publications/publications/2023/nsta-overview-2023/

In relation to below message
https://www.lse.co.uk/rns/SYN/cambay-ccs-scheme-presentation-ivf3x4wuovwihp8.html

Ongc estimates the cost at $1B for capacity of up to 0.5MTa of CO2. The CCS presentation mentions capacity of up to 43MTa at Cambay. Just some findings around (high-level) value, should it proceed.

https://m.economictimes.com/news/india/ongc-plans-to-capture-store-carbon/amp_articleshow/96069196.cms

I’ll take that update (any day of the week) - indeed very encouraging.

Overall, what a stellar build up to trip update due next week. Exciting period ahead, and still a decent increase this week, despite a wee drop today. Time to roll..

.2 to sell @ 08:13, not shabby

Dicko, suggest you read the update on NPV once more.

“Re: 13 Dec RNS: NPV10 means the value of pre-tax and finance net profit cash flows discounted at 10%. The 10-well model is illustrative; in a full field development it would be a 30+ wells. We believe a 40% pa decline rate is a realistic case”

The $725m is for a 10-well model illustration only..

Indeed, as long as constructive - keep ‘em coming

As you say sss, we’re all entitled to our own views (much driven by individual aims and circumstances). None necessarily being wrong. Yep, let’s see where we’re at end of next week.

If they had done it reverse, then someone would see that as being wrong. In the end, it was inevitable in my view based upon where we are. Quite ok with the sequencing they opted for. Then again I’ve always been a “give me the bad news first” kind of person. Based upon their updates, we now know Roland deemed it a successful visit and there is is lot info to digest no doubt and have it all out into an rns. Onwards and upwards. In the end we’re still up approximately 100% from recent lows. Let’s roll.

I am sure a lot of folks buying in when at single digit still have made a decent amount, and happy to secure their profit. Good on ‘em, well done

There’s always the one VF..

He will no doubt have a lot of writing up to do after a whole week “on the road”, many that will need reviewing by the BOD no doubt before being issued.

Indeed elegance, that’s what I wanted to put across yesterday. Full steam ahead..