Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Next news will surely be Zama-2ST results, no? Catcher reserves upgrade I would imagine comes with 2018 final results in March. Zama on the other hand...probably next week? Lot of variables there so it’s hard to predict accurately.
Wonder which company this might be? https://www.reed.co.uk/jobs/technical-assistant-oil-and-gas-competitive-salary-1-year-contract-initially/37004912?source=searchResults#/jobs/oil-and-gas-jobs?salaryfrom=40000&salaryto=80000&pageno=2
Bah, I don’t normally do these but: 59p GIvingthelowdown 74.5p IAmNotAnAnalyst 75.25 Yanbu-arabia 75.5 TarthDrader 76p Hawkey 76.5p Geo101 77p Investor6 78p Castello75 78p outofideas 79p TR61 80.8p Auson 81p Ammu123 82p Rookie1 82.35p Mremc2 84p loofer
Shell results boosting the market a bit. Let’s hope the other majors also outperform. $23.35 billion profit ain’t half bad.
Goldenbadger, I prefer to base my calculations on the actual drill results, not subjective interpretation of a single word that TD uttered a while back. Best case scenario, Zama comes in right at the top end of the stated recoverable range at 800 mmboe. Then perhaps we find only a quarter is in Pemex’s block. That leaves 150 mmboe net to PMO. Now that’s not the absolute limit of course, but bigger than that is probably <10% chance. I personally think PMO will aim to sell this off in the next 12 months to aid in funding Sea Lion.
Goldenbadger, those numbers are not in line with what’s been published and don’t account for any of the field being in Pemex’s block.
5 year average for this week is a 7.4 million build. Good set of numbers there, makes a nice change.
Goldenbadger, if Zama is 400-800 mmbo recoverable, with a not insignificant chunk not in block 7, how do you put PMO’s share at 300 mmbo? Sounds around triple what I’d expect.
How long they been looking to do that Alfa?
According to this article, PMO shares are currently trading at £70.97 ... I bloody wish! https://www.upstreamonline.com/live/1683766/talos-appraisal-result-boost-premier
That’s actually quite an outstanding result. Having a net to gross that high for such a thick interval is great, between that and the slightly deeper than expected OWC, I would imagine the 400-800 mmboe will have it’s lower end raised. It might not seem like much when they’re talking about hundreds of metres of sand, but that extra 30m at the base can have a big impact on reserves, as sankeys and I discussed a while back. Gross rock volumes within a structure tend to have an exponential relationship to hydrocarbon column height e.g. every metre you add adds more and more volumes as the structure broadens with depth. Strong aquifer support will also help the recovery factor and therefore recoverable volumes, plus it could cheapen up development as it means less water injectors requires to maintain pressure. Marte - didn’t like the look of it on seismic, but for $2.5 million you couldn’t really gone wrong even if it was dry, just to get extra information on the stratigraphy. Not sure how this will affect the share price, if at all, I imagine PMO will do their own RNS acknowledging the result, be interesting to see if they mention a revised reserve range, I think the partnership might be waiting to fully integrate the data before rushing anything out.
The other two might be nice, but history shows that we tend to get oil builds this time of year in inventories. We can always hope though.
I don’t think so with oil around these levels.
UK-listed Premier Oil is “probably” ready to take on new UK North Sea projects, possibly by making acquisitions. Chief executive Tony Durrant told Upstream he thinks there will be a “few opportunities” for acquisitions “as we go into 2019”. “We have always said if the right opportunity comes along on the M&A front, we would be interested in doing so. It probably makes sense for us," Durrant said. “We think we could take on more projects. We have probably got cost and tax synergies available to us. But it has to be the right opportunity at the right price." Durrant revealed that Premier had screened assets that Total is reported to be looking to sell but added: “We are no longer pursuing that. We will look at each opportunity as it comes up and decide if we want to do anything.” However, he did not comment on the possibility Premier was looking to buy a package of assets put up for sale by US supermajor Chevron.
It’s a thick reservoir, which they’re going through deviated + probably taking a lot of core. Combine that with the fact Talos aren’t an AIM company rushing to push out updates after each irrelevant event and you can see why I told people last week not to expect anything fast.
Now Ammu’s back, we only need Seymour and YChang to round off the Mensa crew. Welcome back Ammu.
TheCashFerret, you realise PMO have to actually have to have something to announce before they release another RNS? What do you want them to do, release an RNS each day saying how many feet the well has drilled since the last RNS the day before? Maybe they could include what was served on the rig for dinner and lunch? Personally, I’d rather they didn’t pander to the impatient and childish folk on an internet chat site who barely understand the industry they’re investing in.
Quote from exclusive interview with Talos CEO from upstreamonline.com a few days ago: However, as Talos further studies its Block 7 off Mexico, having reprocessed seismic for a second time and incorporated data from the initial wildcat, chief executive Tim Duncan told Upstream the company has high hopes that the play can become known for more than just a single well. “What that has brought forward is a geophysical look that we think is repeatable in other parts of the block,” said Duncan, who described the ongoing work from the company’s office in downtown Houston, where the drillbit from the Zama discovery well is prominently displayed in the foyer. “You’ll see an entire inventory that we think is available on Block 7 that admittedly we probably didn’t think was as robust as we think it is now. We’re really excited about how much resource potential is there.” As I said, let’s not flog it before the real value is known from other prospects.
That’s correct, but with a 300m+ column, it’s unlikely to shift more than a couple % I would imagine and not necessarily down. Key thing will he reservoir quality and how they think they will impact recovery factor. With 2bbo stoiip, a 5% recovery factor change equates to an extra 100 million barrels.
Unfortunately, the chance of the OWC contact shifting significantly is highly unlikely given the fact they have a flat spot on seismic, which is directly imaging the transition from oil filled sands to water filled sands. Still, lots of other parameters to be firmed up.