great post20 Jul 2018 13:58
Great post from northpole2 on that other BB
LK has previously stated that BP have shown an interest in the SWP and NR said likewise. They are active and operating in the area and any development of scale would almost certainly be of interest to them. BHP, Exxon and others have also had real exploration success in the recent past in the area but are all operating offshore, the SWP is onshore which is why Columbus have managed to get it (in a great deal). But the potential volumes available from the SWP will certainly be of interest to a major, upon exploration success by CERP, who are all desperate to fill their reserve coffers after 3-4 years of under-investment. It is a fact that there would be a 7% decline every year across the world in oil production without any new investment in new activity/fields. The majors therefore need to run fast to stand-still. Remember Columbus has noted prospective resources of between 20-400 million barrels for 12 separate prospects in the SWP EACH. Any volumes in excess of 50m barrels discovered would definitely attract the majors, independents and many others. CERP is simply playing a good game of planning to take on the first wells step by step using its own cash resources and, if they achieve success, the majors will then be there. That coming from someone who works in this industry. LK won't want any deals with the majors yet, far too early for that and you'd be giving too much away too early. NR said likewise. Upon success, there would be a queue of interested parties forming. That would be a nice place for Columbus to be as they can decide how to play things in so many ways then (go it alone and develop, farmdown, sell out all or part of the licence).
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