Member Info for LostAllMyShirts

I wonder if Corcel will become involved the Venezuela project/s ?. I have a feeling it will.

If you listen to the Malcy - Robert Bose it is possibly a "110 bagger" , but how long it will take I dont know.

I am hoping that Scott Gilbert, who operates CORCEL, will have obtained an interest for Corcel in Apertura .

I am hoping that Scott Gilbert, who operates CORCEL, will have obtained an interest for Corcel in Apertura .

Johnson and the Shell well (14/5-1A)

The key well is 14/5-1A, drilled by Shell in 1998 in roughly 500 m water depth within licence PL032. Shell encountered major gas-bearing intervals and recognised about 165 m net gas pay, but abandoned the well because the structure was not fully understood and economics were weak. Rockhopper later argued that the well had effectively drilled into a larger trap than Shell realised.

Rockhopper’s 2007 3D seismic reinterpretation concluded:

14/5-1A had penetrated a previously unmapped structural closure.

That closure became the Johnson structure.

The old Shell well was interpreted as penetrating the structure rather than merely recording isolated gas shows.

The main contrasts:

Feature Johnson Sea Lion

Discovery basis Reinterpreted Shell gas well New oil discovery drilling

Key well 14/5-1A 14/10-2

Hydrocarbon Mainly gas Mainly oil

Reservoir focus Older syn-rift interval Lower Cretaceous fan sands

Commercial focus Never advanced Became development focus

Johnson changed the industry view because it implied:

Shell’s 1998 campaign had not “failed” — it had under-interpreted some structures.

The basin hosted two petroleum systems: a gas-prone deeper system and the oil-prone system that later delivered Sea Lion.

3D seismic was revealing closures that 1990s data had missed.

The Shell well 14/5-1A did encounter substantial gas-bearing intervals:

Shell identified about 165 m of net gas pay in the well. That is not a trivial gas show.

Later reinterpretation by Rockhopper and consultants reclassified it from a gas show into a gas discovery / contingent resource, not merely a prospect.

2007 3D seismic suggested the well intersected a previously unmapped closure and may have been drilled on the flank rather than the crest of the structure.

Resource estimates remained large on paper: best estimate around 1.6 Tcf recoverable, mean around 3.4 Tcf, upside cases much larger.

Johnson and the Shell well (14/5-1A)

The key well is 14/5-1A, drilled by Shell in 1998 in roughly 500 m water depth within licence PL032. Shell encountered major gas-bearing intervals and recognised about 165 m net gas pay, but abandoned the well because the structure was not fully understood and economics were weak. Rockhopper later argued that the well had effectively drilled into a larger trap than Shell realised.

Rockhopper’s 2007 3D seismic reinterpretation concluded:

14/5-1A had penetrated a previously unmapped structural closure.

That closure became the Johnson structure.

The old Shell well was interpreted as penetrating the structure rather than merely recording isolated gas shows.

The main contrasts:

Feature Johnson Sea Lion

Discovery basis Reinterpreted Shell gas well New oil discovery drilling

Key well 14/5-1A 14/10-2

Hydrocarbon Mainly gas Mainly oil

Reservoir focus Older syn-rift interval Lower Cretaceous fan sands

Commercial focus Never advanced Became development focus

Johnson changed the industry view because it implied:

Shell’s 1998 campaign had not “failed” — it had under-interpreted some structures.

The basin hosted two petroleum systems: a gas-prone deeper system and the oil-prone system that later delivered Sea Lion.

3D seismic was revealing closures that 1990s data had missed.

The Shell well 14/5-1A did encounter substantial gas-bearing intervals:

Shell identified about 165 m of net gas pay in the well. That is not a trivial gas show.

Later reinterpretation by Rockhopper and consultants reclassified it from a gas show into a gas discovery / contingent resource, not merely a prospect.

2007 3D seismic suggested the well intersected a previously unmapped closure and may have been drilled on the flank rather than the crest of the structure.

Resource estimates remained large on paper: best estimate around 1.6 Tcf recoverable, mean around 3.4 Tcf, upside cases much larger.

Https://finance.yahoo.com/news/ousted-bp-chairman-hits-back-083155016.html

Hmm, I wonder if the resignation of BP chair has affected ECO ?. I cannot see that the Contract between BP and ECO would change but maybe has unnerved some ?

What I have learnt over my investing "career" has been that in small caps you should never ever expect instant success, even 1 to 2 years is far too short, you need to realise that you will need to wait maybe 5 to 7 years before get decent pay back. Just be sure of your research etc but these projects take time. I am not interested in how high the oil price goes because of war, what I am interested in is what Oil price is because of enonomic activity demand , and geographic location of that oil.

Peasant= Rionel Yep.

@rionel You want me to tell you, I will tell you. Either before Israel came into existence, or before Corrupt Netanyahu came into post, or Before Israel decided they wanted to steal Palestinians land and kill innocent people. Sufficient ?. Oh and to show how scared of the truth Israel is, Mossad made threats many times to the ICC Chief Prosecutor to drop the case re Palestinians or she or family would be harmed.

@Rionel 1. No, did I ssy that ?. NO. 2. Israel is itching to sucpper any deal. They want continous war. 3. Trump is as dumb as a rock and suggestable and Netanyahu uses him.

All I meant was actually, here we go peace, no peace, peace, no peace etc.

Https://www.zawya.com/en/press-release/africa-press-releases/guyana-confirmed-to-host-caribbean-energy-week-2027-as-regional-energy-integration-gains-momentum-n51rauru

Https://www.zawya.com/en/press-release/africa-press-releases/guyana-confirmed-to-host-caribbean-energy-week-2027-as-regional-energy-integration-gains-momentum-n51rauru

Https://www.zawya.com/en/press-release/africa-press-releases/guyana-confirmed-to-host-caribbean-energy-week-2027-as-regional-energy-integration-gains-momentum-n51rauru

Https://www.theguardian.com/world/2026/may/26/us-strikes-iran-missile-sites-vessels-trump-peace-deal-elusive

US strikes Iran missile sites and mine laying vessels as Trump’s promised peace deal remains elusive. HERE WE GO YET AGAIN !!

Even though the price of Oil is down around 5% ,and automatically *some* investors will think "oh god must sell now rush rush" I perosnally am not concerned as the price is still above what it was ,and it will be a year before oil starts flowing again, if it does, thru straits of hormuz ,imho.

This article is a good read, especially further down ,and highlights the types of Oil . There are not that many Refineries can handle the very heavy Oil of Venezuela (I doubt Trump even knows that at all to be honest the guy is thick) so anyone discovery light/medium OIl is going to have field day as that is type Oil market needs/wants ;

https://www.aljazeera.com/news/2026/5/25/could-brazilian-oil-emerge-as-one-of-the-big-winners-of-the-iran-war

@wallact Thanks for the "tip" Even in 2022 they were talking of shortage, now 4 years later the crunch is coming https://www.ucl.ac.uk/news/2022/aug/sulfur-shortage-potential-resource-crisis-looming-world-decarbonises

I listened to good video today about Iranian Oil and what will happen. WHEN a Peace deal is signed it will take over a Year to even start some Production up again at Kharg Island. They export around 1.5 Million Barrels per day and keep 2 Million Barrels per day for themselves. During the shutdown the Pipes and all machinery with get coated with OIl setting like Concrete ,akin to Cholesterol in arteries.

So likely 550 Million Barrels per YEAR will disappear from Iranian exports for at least 1 year and then maybe get a 3rd of that after 1 year.