RE: RE: Waiting23 May 2019 04:27
Production scheduled from April at the TLP-103C well on the Tilapia licence in the Republic of the Congo.
TLP-103C’s upper reservoirs will be targeted by blending the R2 and the Mengo intervals through a double completion in the well.
An initial aggregated flow rate in excess of 1,500 barrels of oil per day is expected over the first 14-18 months.
On that basis, cashflow will be US$1mln per month.
Operation will breakeven with an oil price as low as US$20 per barrel.
These plans are only delayed as expectations have been exceeded.
Not a huge delay given the news and bureaucracy involved. When this is up and running, with future drills in geology we clearly understand and have successfully modelled this is going to be massive.
Don’t get bored or distracted!
GLA