Member Info for Foresight22

..getting soon the June Start-up Production data. Should be published/available 1st September through OGA. At least some clarity on that front soon.

..based on SP today, market has no clue whether Guyana well was wet, uncommercial or made MASSIVE discovery! Well, well. Very interesting... guess just have to wait and see. Interesting too, results were such that Eco gone VERY quiet toooo. New seismic survey (nodes?) ordered around time drilling Lower Tertiary...

Good news from IR HUR, even Clair discovery wells were classed as un-commercial when drilled back then. This well was significant vertical penetration into FB not just couple of feet and then TD. All targeted objectives were water bearing. Did HUR actually say any oil was found in FB?

...that could mean Tullow will RNS both wells results together - only some 20 days for well 2?

'Tullow previously indicated that the Jethro- Lobe field may share some common geology to Exxon’s Hammerhead field in the Stabroek block.'
Lower Tertiary reservoir drilled - had common geology as Hammerhead nearby..

https://energynow.tt/blog/tullow-completes-jethro-lobe-results-expected-soon

WC has been drilled already by 204/30-1. 205/26-1 discovered Lincoln.

Lincoln & Warwick crests are below Lancaster & Halifax, so HE/Spirit will not know how important the weathered FB is until LC is flown as well as the fracture meshwork. If that is good, then to place well at top of Warwick (above WD) should be relatively certain and could then be drilled (2020) & tied back (2021) to AM in addition to LC, if capacity spare. Gauges will be in LC by then, so testing WT (Top structure) would help give further insight, plus another producer for AM. WC to be drilled after LC this year, on the CPR maps looks as high as LC location, but HUR ppts suggests it will be deeper(?) -- so drilling WC is key appraisal plus gives confidence to have new boat over that area too as well as Halifax. WC has been drilled already by 205/26-1 so good depth control should exist. Key to the effectiveness of producers so far seems to be having most of build section OUT of FB - thereby giving max chance to encounter good weathered section in horizontal, as well as excellent fracture meshwork further along.

This is all very complex can see how the extend of all this is too much for SP - at the moment! Post LC & WC all should be 'plain sailing'. Key today & net week however (as everyone seems to agree now) is very commercial rates from LC around 19th...

..as Tullow only going to ‘toe poke’ Cretaceous - that means if going to plan, in Upper Tertiary sands at latest tomorrow.. hold the horses!

https://www.rigzone.com/news/bank_says_uganda_will_be_able_to_get_pipeline_cash-6-aug-2019-159495-article/?utm_campaign=DAILY_2019_08_06&utm_source=GLOBAL_ENG&utm_medium=EM_NW_F6

ronok,
until HUR have some 200,000 BOPD production from the crestal locations (HC, LanC, LinC, WC) no point in drilling below SC because need producers in best sweet spots. Drilling below SC is just pure experimentation - monies HUR & now Spirit do not have. HE understand where the water leg is - so can dynamically model based on that oil column from contract-to-crest. From production data HE/Spirit will get insight into whether they need deeper producers/or potentially injectors (long way off!) - but that insight is some 3-5 years off.

WD with hindsight was a bad idea! Need to learn from failures...

..guess Tullow will be coring so could take time to reach Base Tertiary? or encounter HWC? Doubt RNS before they have achieved BT or HWC...

..based on 206/7-1, some 10m^3 mud losses per significant fracture would be very positive. LC should have good weathered section as long as HE/Spirit don't set casing shoe to far in FB net rock -- so should have fall back openhole net pay (unlike with WD where ppt show build section mainly in FB).

cmlh,

..news losses would help us all sleep very soundly.

'market is saying'

..world oil price decline means Jethro-1 non commercial? that's interesting... are you sure? 100%? Tullow up today..

..something brewing.

Thanks cmlh,

That means LC must be running casing very soon to then drill the horizontal. Keep up the news feed...

SP up - Guyana? certainly against the trend..

WD was sidetracked - not that investors were told by RNS and not mentioned at CMD. So LC should take shorter to get to TD (Total Depth).

'detailed understanding of the reservoir[s] that we will realise full value for the company'

..so far current SP is way below any valuation published! No wonder Kerogen sold. Production pays the bills, need another boat over Halifax and Warwick - based on 10,000-20,000 BOPD that's pushing it - paying additionally for 'full value' (pipe dream) will be two or three more years further on from that.

Each crestal producer drilled - need another 6 over GLA & GWA, still adds to the reservoir modelling efforts. Drilling wells below SC now between Lancaster and Halifax is just for rock lovers. History matched models adds reserves - more producers - more reserves..

...certainly agree that Kerogen sale at discounted price well below 58p - has not helped BUT was this 'cause' or 'effect' of poor performance of HE technical history. Maybe sale was due to HUR wanting to spend GLA production on new related appraisal drilling - not new production from Halifax Crestal? Kerogen involved with other companies which need new monies too. Sure Kerogen would have known about Centrica plans too. Full GWA development of Resources was significant - questions about GWA development cause BoDs to act unexpectedly. LC success and additional production might stop future SP sales well below any asset valuation. Need strong HE technical success continuing going forward! - no more experimentation.