focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
Thanks for posting nas
F.Y.I
Company officials, during their Q1 results call, gave updates on different operational areas, and commented on the potential impact of an investment promotion regime in the government’s economic reform bill.
OFFSHORE
YPF partner Equinor in April began drilling exploratory well Argerich-1 offshore Buenos Aires province, work expected to continue over the next two months, the call heard.
YPF, which holds a 35% equity stake, expects an eventual production rate of 200,000b/d if oil is struck at the Argentina Norte basin license, known as CAN-100.
“It’s targeting a very big structure… we’re looking for something quite material,” YPF strategy VP Maximiliano Westen said, referring to similarities between geological formations offshore South America and those off the coast of West Africa, where discoveries have been made.
Argerich-1 would be Argentina’s first ultra-deepwater well. Exploration work was carried out in shallower waters offshore Buenos Aires, in the Colorado basin, in 1969-97, with 18 wells drilled. Oil was extracted from one during repeat formation testing.
Elsewhere on the exploration map, YPF has the environmental nod to shoot 3D seismic at CAN-102.
Hi Interestking = Ahhh M+W Should have fell in on that one - Certainly a nod to them, but is a homage to my first 10 bagger - Rensola (Solar Wafers)
Thanks for posting NAS - a bit monotone - but worth listento over the rubbish on here.
Interestking- whos M&W -Mitchell and Webb:) I'm confused.com
Morning - IMO the only thing stopping this being in high .2s to .3s is the gov approval of the Chevron Deal and the current cash balance. both of these are process and a time activity. I see this as a good intial 3-6 month play to just sit back and wait. Chevrom worth at least 0.5p a share alone on their investment for the 60% , so take half off, ignore any farm out of OFF 2 and fully funded and its still worth alot more.. so will Uraguay Approve? - I dont think ive ever seen a AIM Oiler farm in with a Major the hasnt been approved by the Gov's? not in 20 years that i can think off , even in highly political countires/ Issues. but there will always be doubt in the minds of punters - so for me its just sit back and wait - I wouldnt waste my time petty arguing on these boards, not worth the brain space - GLA
Equinor rolls up its sleeves for imminent Argentina exploration well
Drillship Valaris DS-17 is en route to spud closely watched Argerich-1 wildcat.
https://www.upstreamonline.com/exploration/equinor-rolls-up-its-sleeves-for-imminent-argentina-exploration-well/2-1-1633211
And before some village idiot posts some rubbish about it not being relevant .. take google of S&P Globals Assessment of the Namiba, Argentina and Uraguay basins - including ours
F.Y.I
Drillship DS-17 is due to arrive in Argentina this week, local media outlet Eolo Media reported.
The vessel is tasked with drilling well Argerich-1, in area CAN-100 of the Argentina Norte basin, a license held by Equinor, YPF and Shell.
According to shipping website VesselFinder, DS-17 is due to arrive in Mar de Plata, Buenos Aires province, on Wednesday.
An environmental license establishes the drilling work window runs between December 15, 2023, and June 15, 2024.
BNamericas has contacted block operator Equinor for comment.
Im in ..
Not sure why anyone would come up with a statement that consoldation will somehow relate to a SP fall - the Mkt CAP stays the same .. make no difference at all other than it looks better than billions of shares @ 0.15p on the requster. its a good thing. Also Whist there is signicant risk on a wildcat you have to base that risk v market cap not SP. Chevon have put that risk based value on One licence at many multiples than the current Market Cap, and now we have Intitutions getting in on at premium.. Whether Uraguay is the next Nambia remains to be seem , but if you want to get involved CEG is worth a fraction of what other much more knowledgable world leading oiler are ready to invest. These boards are full of Desperate gamblers and Fools IMO
F.Y.I
Valaris D17 Drillship is moving down towards Falklands offshore Argentina arriving tomorrow to start drilling. Targeting 1 billion barrels.
Equinor in April will begin drilling the Argerich-1 exploration well in the CAN 100 block in the North Argentinian basin, offshore Argentina.
The well will be drilled 315 km from the port of Mar del Plata by the Valaris DS-17 drillship in 1,527 m water depth. It will be the first to be drilled in the country in ultra-deep waters. The well is expected to reach about 2,500 m in depth and 106 cm in diameter at the sediment surface. Drilling work is estimated to take 55-65 days.
If the presence of oil is confirmed, Equinor and partners are expected to carry out an appraisal campaign in 2025 to gather technical data including field size and potential productivity.
The Argerich project is operated by Equinor with 35% interest. Partners are YPF (35%) and Shell plc (30%).
Morning - Cant really see how anyone could put a negative spin on that - always look at the details with these kind of thing, but on review looks a very clever piece of funding and a very good deal for shareholder - once again the strengh of this underpins the SP and demostrates the institutional "want" to get involved. Great deal
Morning
I wont get involved in the ramping / troll debate .. boring and who really cares ?
A snippet of information below - udated shipping info for the expected arrival of the Equinor CAN-100 Drill..
https://antaresshipping.com/news/april-10th-argentina-offshore-prospecting-can-100-area/
Hi All - See attached link
Explains the correlation between our block and the CAN C100 Block being drilled sonn by EQUINOR. S&P artical directly mention OFF-1 when discussing Equinors prospects in relation to Namibia.
https://www.spglobal.com/commodityinsights/en/ci/research-analysis/why-is-a-discovery-in-namibia-good-for-uruguay-and-argentina.html
Morning
Anyone know the details of the drill that's due to start in April southern to us in arg ? Would like to educate myself on the relationship it has this source rock that forms so much of the hype around Uraguay
Agree - That 40% carry is values at next to nothing at the moment - Once the Gov sign off the Chev Deal - which is not really in any doubt - at the current SP 40% of off 1 and 100% of OFF 3 is worth about £4m at the current SP!! Chevron think 60% of OFF-1 is worth punting at least $40 upto a total of $140million under this farmout, carrying almost all the cost burdern (100% 3D + 80% of a £100milion max first ) This certainly is one for the drawer . and will be a fun ride once those basin drill bits start going to the south
That presentation is well worth watching
26 mins 50sec - They have enough cash to see then thruogh to completion uraguay gov approval - 2-4 months . He will turn himself inside out before looking to ask SH for funds (or words to that effect)
VIdeo of the presentation peeps - Enjoy
https://www.google.com/search?sca_esv=5fddc3dd36c4976b&sca_upv=1&rlz=1C1ONGR_en-GBGB1053GB1053&sxsrf=ACQVn08-3E9sikkJLBW-fQJoQAPYqFVtEA:1710945610557&q=challenger+energy&tbm=vid&source=lnms&prmd=invmbtz&sa=X&ved=2ahUKEwjNj-OKiYOFAxUkQUEAHSZvADgQ0pQJegQIFhAB&biw=2400&bih=1138&dpr=0.8#fpstate=ive&vld=cid:beaa0814,vid:C85bB9ynH18,st:0
Hi All - I must admit its hard to work out how much cash CEG are has / using at the moment - discontinued operations, sale proceeds etc - current operations and$ 0.5 million retained as restricted cash collateral for the OFF-1 performance bond - (which could well be on its way back to CEG) ? I think at worst there may be a need for a small bridging loan
Hi Interestking
Good post - I think its an unbelivieably good deal for CEG - on top of paying 100% of 3D's Chevron are effectively covering 80% of the drill costs upto a max drill project cost of $100 million - 60/(40 -50%). so a $50 mill Drill CEG would have to stump up $10 million. All that and retaining 40% upto drill bit point makes this a huge gift IMO..Chevrom willing to chuck that much at it for 60% im amazed to is still at these levels TBH
Apologies - put that post on by accident - ponit was - CEG have $12.3 and a free carry only needing to pay 25% of drill costs.
Whereas Chevron will ha ve to spend a total of $110 million for thier 60% to the same point of progress on first drill. I think it shows how keen they are to get thier hand on OOF 1 with OFF 3 still to come. This is much cheaper at 17p today , than it was at 12p yesterday. That big mark up was justified big not quite bought into yet ... Think this will rerate quite a bit ..