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Jarovian,
If you look on most Supermajors website's the PR spin is that of transitioning into renewables .
Totally agree. Read somewhere that by 2025, battery and solar power would go head to head with oil cost. Liza not messing about getting oil out the ground and to market. Of course we all have to believe that oil will not collapse; then again, we see shale being the culprit for oversupply next year. Just how far does oil have to collapse before it stays in the ground. I have a large holding in ECO.
I sold some Friday, too much profit lying on the table. Would never have forgiving myself as it would have been irresponsible. Been in since early 30tees since I had great faith in Gil. Sold and left limit orders but didn't fire. I had a large holding and sold some of my other holdings and piled in this morning. Obviously lost some profit reducing risk but happy the way its worked out. Lets hope Gil drives a hard bargain when Eco is ultimately taking out.
I still think it’s step out drilling. If we forget about 45 square km and work on miles we can assume without squaring 6.7mls south east of Jethro which I believe the coordinates pointed to. We can all imagine more “lobes” but my speculation is still the Jethro extension and whether it’s a continuation of Jethro 1.
I know at the very beginning of the HH3 drill, Exxon said they were going to drill the Stabroek; by that I got the impression they weren't going to appraise beyond there boundary. Gil had already said he didn't want to waste money confirming overlap with another drill. Do we have to do a drill or are Exxon or Tlw going to say something?
Gil has said that Jethro had lit up, I assumed from AVO testing; indicating hydrocarbons. Tullow has independently done all kinds of tests from the seismic; one I believe showed hydrocarbons at Joe. We know Exxon studied there area for 8 year; Tlw for 3 year. We of course have piggybacked knowledge gained from Exxon, otherwise we would be drilling the Cretaceous . Sure a clearer picture will appear about the survey shortly.
I don't know if I'm missing something? We always had a drill conclusion of 31 Dec, its never changed. I believed that included JOE. What we had was a 1 square km drill sight. What we now have is a survey area covering 45 square km which I take to conclude 30 Nov. Looking at that I would then believe we had the time to Dec 31 to drill JOE. We also know within the next fortnight there should be news on Jethro. Is the assumption Stenna Forth will then appraise a 45 km area or look for where the oil has went for the next 3>4 month? Seems to be a lot of positives but are your thoughts different to mine? Latest Mariner update was 25July so was the result known then?
If they are doing more seismic will be surprised as they could have used the seismic which we have; unless of course they are looking further. We originally traded seismic with Repsol which covered Orinduik, overlapping into Stabroek. Gil of course made the point, why do an extra drill to prove overlap, equally, why not share seismic relative to HH which we have. Unitization means we have to share costs used in proving HH entering Orinduik. Agree Jethro could be part of a lobe tho' I would expect more than the small Jethro extension already identified. Looking at the map still think Latuk -D (Upper Cretaceous 4850 mtrs) is below HH (3550 mtrs) tho' it looks to be extending onto the Stabroek block? "The Latuk Lead on the Orinduik Block bears great similarities to Exxon’s Hammerhead discovery and shares many of the same channel characteristics". Eco quote.
Hess. Speaking on a 3rd quarter earnings call on Wednesday, Hill said Hammerhead is a massive accumulation and very thick sand package. “In fact, it’s the thickest single sand package that we drilled on the block. It’s a very large structure so it’s going to require some additional appraisal. What we can say is that the results of the DST were good, meaning that the reservoir quality is excellent and the reservoir seems to be well-connected.” Well, what about that to the seller's.
He added that results from those wells and from a well Tullow was drilling in September in an adjacent block could affect the resource estimate of the Orinduik block.
Repsol’s Kaieteur-1 (Kanuku Block, Tullow and Total partners) will target a similarUpper Cretaceous fan system. With dry wells to the north and south, this is not a straight extension of the Liza play. It will be closely watched by Tullow and partners Total and Eco on the adjacent Orinduik Block as it is apparently on trend with their planned Amatuk-1 and Latuk-1.
Ajax, I'm also in Eco, lost enormous amount in Jog, Put your money in PMO which has large debts but are paying this down. Above $45 bl they have fcf. Expect this sp to double within 2 yr and will become a bid target when debt reduces. Large swings but its not an Aim stock and you will sleep better. Honest advice and good luck.