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Agree with all good valid points made bar the correlation regarding the drop of 20p/15p share price.
Watched this drill very closely as I have others over the years & the overall signs aren't promising for investor's.
Bulletwood-1 is a very important drill for ExxonMobil it would basically ( if successful confirm the extension of the Liza trend northwards derisking the other prospects on the Cranje/kaituer blocks to some extent.
I believe that a sniff of any major discovery in similar nature to what's been found on Strabroek comfirming what we all wished for including myself would have been way to difficult to suppress the excitement/optimistic news even for Exxon AND SHOULD have propelled the shareprice to at least the upper 40p limits & beyond by now.
But who knows???.
Or maybe it's a duster? Or not the right type of oil, or not economically viable as a standalone being 130 miles out at sea.
Or maybe Canje being the kitchen has nothing in the cupboards & the trend of guyanan oil is mostly to be found (on the table) in the Starbroek block running Southeast from Liza extending
Into Suriname.
Westmount have no interests in ExxonMobil confirmed discoveries (if only) which will pay huge oil profits for Hess etc.
Westmount have basically put their eggs in one basket with a large investment in JHi cranje block.
If Bulletwood-1 doesn't pay off the two other prospects although fully funded will not I fear be rushed, and ExxonMobil 6 drillships will all be put to work on Strabroek until the late part of 2021
All in my opinion.
Correct,have been jumping in & out of here with small amounts since November time as the increased price rises have arisen.
Small bit of trading turns the wheels.
But make no mistake ive been invested here for some time & have a healthly amount of stock tucked away ( kids isa's etc ) which i wont be touching for a good few years.
I have always believed this company and the fact that the increasing rise on the horizon of the sector that Enet is operating in is going to become absolutly huge, convinces me its not far away now from generating the sales & revenues it has promised all investors & propel it into a proper tech company with a Mcap to match.
Cheers.
Hess stated.
The next exploration well to be drilled is Koeb-1 Stabroek block which is located approximately 16 miles northeast of Liza. This well will target Liza type Campanian-aged reservoirs and is expected to spud in February using the Stena Carron drillship.
So should hear results very soon as Stena Carron moves off Bulletwood 1.
Cheers.
Hess president Greg Hill stated this.
The next exploration well to be drilled is Koeb-1, which is located approximately 16 miles northeast of Liza. This well will target Liza type Campanian-aged reservoirs and is expected to spud in February using the Stena Carron drillship.
So should hear results very soon as Stena Carron moves off Bulletwood 1.
Cheers.
Goliathberg voltzberg North, Suriname block 47
Is being drilled now.
Westmount have a small % interest.
https://www.offshore-mag.com/drilling-completion/article/14196124/tullow-oil-spuds-deepwater-gvn1-exploration-well-offshore-suriname
Busy wkend for the Stena Carron has support ships about unlike the beginning of this week where they were alone for 2/3 days.
If they were running wire line operations on the drilled cretaceous, then the drilling of the deeper structures as proposed for Bulletwood have timely begun.
roll on 23rd Feb.