Member Info for InJamesweTrust

Mrd
SXX looked clearly like a target. They had debt in place bar $500m then the boss came out with strategy he needed all along, boot strap by producing via lorry and build up cash. There was clearly potential value there.

If he was going to bid, he'd be getting funds lined up.now and likely nibbling at shares as he does.
From.todays price a bid of 80-90p could be successful.

Phoebus
This isnt so much a day to day oil movement stock, if reviewing value then it is a look through on financial models related to potential production and longer term oil price expectations not the up and down of daily markets.

Absolutely as while Exxon and Hess may not share info, yards will be happy to take the ship building work on their experience and subsurface providers happy to contribute to FEED and thus assist the learning.
See it all the time in finance, consultants have a view of the various banks and let you know how you compare.
Little in the Exxon designs will be definable as IP not to be replicated hence they're being so advanced is a huge benefit in terms of time to first oil.

Noix
Saw the 6 months but having been involved in Shipping construction aiming at being more realistic on timings. However, if the steel is cut and keel laid in anticipation then the 9 months might be closer to achievable. While refurb can be more complex and it was a harsh weather spec, I note it took HUR the full year plus to refurb the Aoka Mizu so I reckon 9-12 months will be the best they can reach. Likely needs that to complete Subsea well work in any case if looking at setting up a network to produce 120-220k bopd.
Unlikely to be a problem for Eco but huge advantage to any party mulling over the possibilities that payback begins so quickly after costs sunk.

Noix
Allied to the chatter from Hess posted on Advfn indicating the lead time on some of the bigger engineering could drop to 9/12 months the opportunity to have fields in the block paying back the bills so quickly is incredibly advantageous and benefits the investment case significantly. The size of the 3 key Cretaceous fields in the current CPR are bang on with these fields Exxon are developing.

Proselenses
That is why the value would be in c per barrel for prospective resources. The activity around gives rise to probability and hence chance of success and people can pay their money and take their chance or not.

Am not sure what is worse, the SP or the near format of LSE

Put it this way, @ 20c a barrel for Cretaceous (on current CPR volume) we are 70p a share. For every extra 20c value up the curve per barrel it is.another 70p per share or there abouts.

Shpunken
From what I hear it is on track for late Jan/early February. With Gil in town next week this would seem like a good opportunity for him to talk to it. Although he may be back in London later in the month to meet with fellow participants in licence.
We know the minimum number of barrels of Cretaceous. The CoS for J&J was increased due to understanding Hammerhead drill area and we should have similar understanding from Carapa drill results along with knowing the outcome of Exxon drills on Staebroek and how distribution channels link between the various fields/petroleum systems and hence likely very good CoS.

So, looks as though CPR will be sometime next week then.
What is it expected to show - current Cretaceous volumes are 2.8bn barrels, based on experience of other Cretaceous formations (and basic geology) this is very likely to be light and Colin Kinley is very confident of the reservoir formation.
So 2.8bn barrels at what CoS plus any uplift in resource estimate for excellent porosity encountered to date.....

Mrd
Think enterprise value, add the debt in as that needs to be repaid in any transaction.

With an FPSO on charter and 17 wells at around $60m each maybe as little as $1bn for a field producing potentially 150k bopd or at $60 oil around and $35 production costs c.$1.3bn FCF per annum. Exxon are building and buying FPSO (in Yr2 I think) so dont break even until Yr3!!!
Breaking even in Yr2 or 3 is simply phenomenal.

Shpunken
Agreed, if Totak weren't interested in drilling they wouldn't have done a deL on Suriname with Apache. The potential of these assets to be monetized quickly taking a lead on FEED work done by Exxon and partners is fairly unique.

This is beyond daft now, in 6 months cash will be 15p a share. In 15months theyll have the bond covered in cash and 15p a share in cash and potentially producing 40k bopd.

Noix
With him you are indeed correct, totally different agenda and patently false past posting (Repsol drop due to Carapa duster when it was ex dividend, Apache a duster in Suriname when it was a blockbuster etc).
The.purpose of responding is more to balance out his nonsense. Looking at the global markets and crude types is interesting given the high likelihood of API being lighter the sulphur alone is less of an issue. However, given the Cretaceous all around is light and sweet the it should be good when drilled

Proselenses
The sulphur can be managed and is a cost, Platts even have a benchmark for that type of oil. The heavier nature is principally a concern in terms of extraction and noises are that reservoir characteristics make this manageable.
It isnt a perfect situation by any means but Tullow clearly states the write down does not reflect their value of Guyana and booked resources against the completed drills.
Nobody is suggesting these are $8 per barrel fields but if Jethro and its channel contain the oil estimated then even at a buck a barrel Eco share is worth more than current SP.
The oil is in the Cretaceous and likely to be much less degraded due to increased depth so likely to be a medium/light API making it similar to the Dubai crude benchmark even if it was sour. There is.an estimated 3bn barrels of this and even at that grade it is likely very commercial and significantly more valuable per barrel.
Total paid $2 a barrel on their Apache deal before drilling was complete in Suriname.

Proselenses
The sulphur can be managed and is a cost, Platts even have a benchmark for that type of oil. The heavier nature is principally a concern in terms of extraction and noises are that reservoir characteristics make this manageable.
It isnt a perfect situation by any means but Tullow clearly states the write down does not reflect their value of Guyana and booked resources against the completed drills.
Nobody is suggesting these are $8 per barrel fields but if Jethro and its channel contain the oil estimated then even at a buck a barrel Eco share is worth more than current SP.
The oil is in the Cretaceous and likely to be much less degraded due to increased depth so likely to be a medium/light API making it similar to the Dubai crude benchmark even if it was sour.

Shpunken
That was my first concern but the fail of the dummy buy and success of Noix dummy sell would indicate there were buyers out there (but not open to Joe public in quantity to buy) which may mean demand is expected rather than continued selling....and some sales maybe triggering stop losses.

Proselenses
Fundraising for Naminbia is your latest on Advfn. Why would they fund raise for Namiba now with drilling activity ongoing throughout this year. Timing would be ridiculous