Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Origin & Santos are 3-4x and TBN just drilled vertical for 37.
D&C cost will come down with scale - right now lots of resources are wasted on rigs moving in and out, sand coming from South Australia, etc. Compliance cost is horrendous - government makes you do a lot of stupid things. It’ll change when lights go off - with the change of government. No fun here w/o AC
Empire announced the start of the C-3H ~40 stages frac program and revised the cost of drilling the well to under AUD 10MM.
C-2H is opened for the Production Logging survey.
Fingers xssed for the weather to stay dry.
https://app.sharelinktechnologies.com/announcement/asx/22a589daa8c14540c7453bf4bd7210eb
directors buying token amounts (350K) https://falconoilandgas.com/2022/12/07/director-purchase-of-common-shares-of-falcon/
Looks like some water is loaded to hold the liner. Wondering is any truth in a certain frac tanks company badmouthing plastic liner field welding by an inexperienced crew
4 to 5 wells can be placed on each bench without worrying about frac & production interference. This is depth-dependent, can drill more of the deeper wells. Than same amount can go into opposite direction. No, they aren’t in wagon wheel pattern bc of maximum horizontal stress drives optimum wellbore direction to maximise reservoir contact (transverse fracs, and lots of them).
It is quite conceivable to have 3-4 benches in the Velkerri A, B & C. Empire’s vertical Carpentaria-1 produced from all four tested intervals, albeit shale B produced better.
Hope the water access be will be sorted as well https://www.abc.net.au/news/2022-11-19/nt-draft-water-allocation-plan-backlash/101672438
2632 - 1345 <> 150
Origin buyout may be derailed somewhat by an American “poison pill” - an ongoing legal dispute. Pity Tri-Star is private
https://www.tri-stargroup.com/media-hub/shcz20mf1qjujiigj1wci9s42cl17l
ShareCafe just sent CorporateConnect report with a 12-month TBN target price of $1.1, a 520% increase.
No opinion, not an endorsement.
Interestingly TBN unsure on the 3H location again.
no worries. Page 4 here has a fresher pic https://investi.com.au/api/announcements/tbn/e947e7e6-70b.pdf
page 3 here is a bit higher resolution than santinel
https://www.investi.com.au/api/announcements/tbn/5c9fcf47-ef4.pdf
nothing hard - just soft skills & people familiar w/ the matter
today is the day
suspect that the geothermal project is located the same place - greenies will be blown up by cognitive dissonance
https://www.goodwaterenergy.com/good-h2/
Glad to see the government losing its cool w/ greenies. Middle Arm Sustainable development project is not about subsidising the fossil fuel industry - it's a typical feeding frenzy on federal funds
https://dipl.nt.gov.au/__data/assets/pdf_file/0005/1103756/masdp-project-overview-factsheet.pdf
@Derrik 30-50 cm of water is placed on top of the plastic liner to prevent it from being lifted by the wind. Smaller square is likely an in-ground pond (aka "turkey's nest") for freshwater used to mix drilling mud. Cuttings pond has to be next to the rig - don't see it in this resolution. The larger above-ground pond is used for the frac; unsure why they put it b4 the drilling and why the colours changed.
POQ relinquished his power to influence the drilling schedule when he farmed out to Origin and become a non-operating partner.
There is some activity happening at the wellsite; hard to tell from Sentinel where they are. Word on the street ~week away from the spud.
so far practically no rain. Last year was very dry, let's hope 2nd La Nina year plays out similarly.
Empire's C-3H drilling is in progress; fracs & C-4V to follow immediately thereafter
https://app.sharelinktechnologies.com/announcement/asx/b93f1443920b320170e2e99de621d6a7
• Carpentaria-2H achieved a peak flow rate of > 11 mmcf per day, an initial production rate over 30 days of 2.4 mmcf per day (normalized to 2.6 mmcf per day per 1,000m of stimulated horizontal section), and an initial production rate over 51 days of 2.2 million cubic feet per day (normalized to 2.4 mmcf per day per 1,000m of stimulated horizontal section)
• Carpentaria-3H drilling commenced on 13 October 2022 targeting a 2,000 metre horizontal section that is to be hydraulically stimulated and placed on extended production testing. The well has been successfully landed in the Middle Velkerri B shale and is drilling ahead
• Carpentaria-4V drilling is planned to commence immediately following the completion of Carpentaria-3H
• Land Access and Compensation Agreements (LACA) have been executed with a number of pastoralists to allow for planned activity within the Gas Discovery Area (GDA) in EP167 and EP168
• Empire received Beetaloo Cooperative Drilling Program progress payments totaling $0.8 million in cash (ex-GST) during the Quarter
• Empire’s US business operations continue to benefit from strong gas prices and reported a positive EBITDA for Q3 2022 of US$1.66 million
• Cash at the end of the Quarter was $32.6 million
2nd frac pond was installed on the Carpentaria site https://apps.sentinel-hub.com/eo-browser/?zoom=18&lat=-16.70114&lng=135.10124&themeId=DEFAULT-THEME&visualizationUrl=https%3A%2F%2Fservices.sentinel-hub.com%2Fogc%2Fwms%2Fbd86bcc0-f318-402b-a145-015f85b9427e&datasetId=S2L2A&fromTime=2022-10-30T00%3A00%3A00.000Z&toTime=2022-10-30T23%3A59%3A59.999Z&layerId=1_TRUE_COLOR&demSource3D=%22MAPZEN%22
@WetWater Origin's plan was to drill Amungee 3H from a separate location to apprise that area. It was later changed to the same pad as Amungee NW-1H and 2H (public knowledge); we are back to the original idea. I'm not sure what the reasoning is, but I wouldn't drill 3rd well from the same pad unless planning to produce there and fine-tune the technique. We have a humongous area to explore, surely, some sports are sweeter than others.
Sidetracking from 4-1/2" casing isn't practical, and at 3400-3600m vertical depth hardly possible. This is because of drilling & logging tools availability and physical limits on the strength of drill string and casing. It will also limit you to the use of 2-7/8" casing where you'd be lucky to achieve a 15bpm pump rate during the frac. Not impossible, just impractical and restrictive. No issues to sidetrack from 7" Maverick-1V.
What do you have in mind?