Member Info for mbarnholdt

Typically is on energy equivalent. I have seen factors used from 5.6-6.0 for the gas to oil conversion used over the years.

Anyone know what the sharp increase from US and Canada was driven by? I saw the tweet from the Minister, which was quite positive, but I wouldn't have thought enough for this gain. Was nice surprise when I got home from work.

My guess is they allowed the first well as proved developed and perhaps one offsetting location as proved undeveloped. Probably nothing below total depth of discovery well, although I seem to recall was hydrocarbon loaded to TD. Looks like they allowed some 2P as well, although with such a large structure, looks like they were conservative here too, perhaps only incorporating wells which have been committed to in the near term development plan. Looks like the in place volumes are more reflective of the entire structure being hc saturated. Noticed that this was only for the upper two sands, not the bottom (hc filled)? Or did I read it incorrectly?

Coho has planted the seed of doubt for the remaining projects. Bring Coho online, followed promptly by Cascadura as promised and many sins will be forgiven.

Its all about delivering Coho and Cascadura this year. Exploration is nice and has game changing possibilities longer term, but the key message here is to show that you can develop what you find promptly.

Question: I saw in the reserves note that barring stuck equipment, Royston could be producing 675 b/d, but did anyone catch anywhere what it is actually producing, and for how much longer? That would be useful information.

I would think that the Kraken result would affect/influence the development course at Kraken. However, with oil prices where they are at, It wouldn't bother me that much if the rig kept pumping out legacy oil wells for awhile and build up the cash flow. I'd be interested to know the thoughts of others on the board who are more tied into the economics of.

Coho: deliver the goods or continue to lose credibility. I think it has laid a big risk discount, rightly or wrongly, on all the potential future activities of TXP, reflected in the current share price. Hoping though that we are pumping a lot of crude on the extended well test at these prices, and that we get some help from the reserve report.

"failure to execute" your comments are spot on Scott, and Coho also gives doubts as to timing of follow on projects. It has haunted this company for quite awhile.

That would have been my experience with Shell also, recoup perhaps plus penalty if a farm out situation. Doubt there is penalty here, but free financing for Heritage, zero or less risk in the exploration phase. Nice work if you can get it.

Scott, maybe you know this; i had always wondered on the exploration carry whether TXP recoups the cost of heritage share of the exploration well (successful) from the early revenue before the 80/20 split kicks in.

I saw that Corentyne discovery. Also mentions well costs of $115-$125MM. Glad we are onshore.

I worked with GLJ many years back, and they are a competent engineering firm for this type of work.

That is sort of what I thought as well; from his tone, I think he believes this will be blowout reserve report with the new discoveries, etc.

Thats the best presentation i've seen from them. PB no equivocation, more technical data, comparative fields shown for the new items, etc.

I will Scott, always appreciate your input.

Positive reaction in the states, nice jump.

And at the risk of being burned at the stake, sounding like a broken record: the open wound that is Coho?

I was just trying to access, and don't seem to be able to get in. Would someone mind giving a brief report out later on?

I love the maple leaf idea. Maybe Queen Elizabeth image on the other side too.

I probably won't watch the presentation, think I have something on at that time. Here are my questions of behalf of our London Stock Exchange Shareholders group (Pick a better name someone please), if someone wants to add/edit submit in advance of the presentation:

1) The lack of progress on Coho has been disconcerting to our group for the last two years. Is there a light at the end of the tunnel?
2) Assuming success at Coho, how likely is a follow up well to be drilled in 2012 (when?) and are there any obstacles to putting on production immediately?
3) What kind of results (rates) have you achieved on the legacy wells?
4) What is the likely sequence of events and achievable timing for Cascadura first gas?
5) What sort of rates have you achieved on the extended well test? Will it continue? Will you attempt similar on other sands?
6) What is the likely exploration program this year and timing?
7) What are the obstacles which will prevent you from achieving your 2022 program?