Member Info for Helpful

Sorry but Eagle is dead in the water for the moment. PH is 100% focussed on BLOE for the foreseeable future.

Colter and Indo are fine though.

Sorry when I said Purbright I should have said Purbeck.

Purbeck Anticline (PEDL345/ 31st Round Offer)

The Purbeck Anticline was drilled by the Southard Quarry-1 well in 1989, logging 8 metres hydrocarbon column in the Jurassic Bridport Sandstone. New seismic data was acquired over the prospect in 2016.

Corallian holds a 49% interest in the Wessex Basin licences and is Exploration Operator.

The point I was responding to is the assertion that Colter is a duster: it obviously is not. Can we agree that and move on? For the rest we are waiting for the partnership to update us, hopefully this week coming.

Try reading the posts: both RBD and UOG say that the partnership is planning the optimum way forward. It was always intended that the Colter well would be plugged and abandoned: that was a term of the PP. The intention was always that any exploitation would be from onshore using long-reach drilling.

My view is that the two drills and the two new licences change things slightly. One comment was that 30% of Colter was in the offshore block to the South, which they now hold.

Again, my view, not a fact, is that the data from the drills makes them think that the Purbright prospect is a goer. Purbright is part onshore and part offshore: it can be drilled from onshore and do is easier, cheaper and quicker.

What they will be doing now is rerunning the seismic data, recalibrating it using the hard data from the drill results. This should give a clearer view of the Colter structure and a more accurate volumetric calculation.

DYOR

In March 2019, the sidetrack operation at the Colter well was completed. The purpose of the well had been to delineate the Colter structure accurately to complement the existing well and seismic data in the area. As previously announced, the anticipated controlling fault between the Colter and Colter South areas is further to the north than had been mapped on the 3D seismic.



We were delighted to make an oil discovery with the Colter well, and with the sidetrack effectively giving us two wells worth of data, the operator is now in a position to undertake the necessary work to determine the optimum forward plan. The data from these well results and existing data will be incorporated to determine the best forward plan.

So not only not a duster, the partners are actively planning the optimum way forward.

Sounds like someone is trying to tell porkies.

DYOR

From the RBD AR.....


In February 2019, the Company was pleased to report that Corallian encountered pay[1] within the Colter South fault block. The Colter well (98/11a-6) was drilled as a vertical well with the ENSCO-72 jack-up rig and reached a Total Depth of 1,870 metres MD (measured depth) in the Sherwood Sandstone.



The Company was pleased that the well confirmed a discovery in the Colter South Prospect for which Corallian had estimated a PMean recoverable volume of 15 million barrels of oil equivalent (mmboe) pre-drill

From UOG's AR..
As is often the case with oil and gas exploration the results of the well surprised and disappointed at the same time in that a new and unexpected discovery was made at Colter South while the original target at Colter North was smaller than pre-drill estimates. However, in terms of the overall Colter prospect the company's commerciality threshold was exceeded and evaluation is ongoing as to the most appropriate way forward.

Larkin has repeatedly stated that there is at least 14mil recoverable at Colter South excluding other targets in that block.

Importantly, the word "discovery" was used not "duster".

DYOR

UOG and RBD disagree with you.

I think they will test the Purbright prospect next but not till next year. If you check out the UOG/RBD presentations, interviews and ARs they have been far more forthcoming on those blocks than ADL. Brian Larkin has repeatedly said Colter South is commercial.

I expect an update shortly.

DYOR

Double up you obviously do not understand this. ADL is part way through the first workover on a four workover programme. They will also be coming out with an update on Colter and the four licenses down there. Until all the info and the workovers is the public domain they cannot. UOG had exactly the same situation a couple of weeks ago.

The directors are in possession of price sensitive information and cannot trade. Don't believe call Christian Dennis.

DYOR

There is no repayment due under the loan. All the drawdown has been converted to shares.

The revenue from the 90% of incremental production comes to ADL until such time as they have recouped or elected to convert any outstanding amounts to a participation right.

On conversion to a participation right the pro-rata income on total production will flow through to ADL.

In effect ADL has an option on a participation right in exchange for funding and executing the operations.

DYOR

Directors Deals for Andalas Energy & Power (ADL)
Trade Date Action Notifier Price Currency Amount Holding
27-Dec-18 Buy Simon George Gorringe 0.66 GBX 3,000,000 5,057,503

As SG has said, it is actually quite difficult for directors to buy. The BOD have likely been closed off from buying since last year. They have been in possession of price sensitive information not in the public domain for most of the year. The Indo deal has been in train for a very long time.

DYOR

So we are agreed not zero ounces! When you do the calcs on Migori you will see it is a lot more than not zero ounces.

Fingers very crossed we should get the Migori license very shortly.

DYOR

https://twitter.com/RRR_RedRock/status/1154738383123599363?s=19

https://twitter.com/RRR_RedRock/status/1154672204900196353?s=19

Let me have your updated calculation when you have factored in El Limon and Migori.

https://twitter.com/zenithenergyltd/status/1154655309144739840?s=19

80 boepd.

Total flow rate post workover or the increment? Initial or stabilised?

It is supposed to be at the earliest opportunity, which is generally taken to be 3/5 days. However, there doesn't appear to be any sanction for late reporting. They have to notify the company and the FCA. I know of instances of really late reporting and nothing happened as a consequence.

Currently up 6%. Fingers crossed.