Member Info for Midus

Interesting point DS, are there any other areas that need to be agreed before the GSA can be signed off?
I'm thinking that the design and funding arrangements look as though they might need to be signed off first. Would SOU really sign up to a long term gas supply agreement without the infrastructure design being complete (plus the cost projections) and without a funding agreement in place?
I'm not convinced SOU would.
The design is scheduled to be completed by the end of the year and funding could be around the same timescale.

We now have the Production Concession, so will the GSA follow shortly? With hindsight, could we really have signed the GSA without the Production Concession, probably not. I don't remember any of the experts mentioning this while we were all moaning about the GSA delay. I think that the major milestones, that are in the public domain, leading up to the LE are:<br />GSA<br />CPR for Seismic Phase 2<br />Drill & Test TE9<br />CPR for Seismic Phase 3<br />Drill & Test TE10<br />CPR for TE9<br />Production Concession Design & Funding<br />Drill & Test TE11<br />CPR for TE10<br />CPR for TE11<br /><br />This takes us up to March 2019 unless events slip.<br /><br />Events at Sidi Mokta would appear to be a side show, to keep the news flowing, and not materially affecting the LE (even with the possible 9 tcf's) and the new Paleo find may get switched into TE 11 or be left for the new owners.<br />

Perhaps thats why the GSA has been drifting for the lat 6 months or so

Ozzie43, think you have the right thinking there, thanks.

Ducati2, BM's comment “I am delighted to report receipt of the final basin model and the potential for a new oil play in the Paleozoic over the Anoual licence.”
How can the receipt of the final basin model (is this the same 34 tcf model that has been mentioned before) be final it does not include the new oil play in the Paleozoic?
Is this smoke and mirrors to disguise the true scale of what is being uncovered?

I think someone said that each stroke pulled 2/3 of a barrel. Chitty mentioned that the pump was on 2.5 stokes per minute.

I know its only testing but............0.66 x 2.5 x 60mins x 24hours = 2376 BOD....are will still in the Portland or have we moved on to first of the kimmeridge layers?

Presumably the data room is open for the Sidi farm out process and in order to allow a major to buy us out cleanly, SOU would need to have the majority of the farm out.

Great feedback, many thanks.

Thank you for your thoughts on the multiple drills before testing.

Keep us in the picture JB, plus if you can get the LE date and Sp that would be great......only jokeing.
Thanks in advance for all of the tit bits of info.

What's the advantage, in our current situation, of drilling 2 or 3 wells back to back before testing.

Its all good news, I wonder how long the team have been aware of the new structure and what else has JP up his sleeve?

New TE-9 video (12/08/18) on Sound's web site

In one of videos it was said that the ground works for TE-10 wold commence as soon as the TE-9 was complete.

Do we think that Phase 3 should be completed in a 7-10 days?

If 10 (think JP said 10) companies are interested in a Sidi farm out, then the interest in Eastern Morocco must be high.

I believe that the rules around the sulphur content of oil are changing and this is expected to have a big impact on the price of oil in the next year or so. As the GSA is being linked to the price of oil, could this be holding up the final agreement?

I like the MikeGP/JonR angle, it makes sense and it just feels like the sort of deal JP would have had up his sleeve for the last couple of years to bring a major in.
Sound investors get their LE, Schlumberger happy with a major as operator, OHNYM happy and Shell happy (oooops that should have been "a major")

Having mapped out potential time frames (where possible) Feb/Mar, where the seismic, wells and CPRs are all complete, seems to be when the fun should start (if it hasn't started before). Lots of news to come ......Phase 2 and 3 seismic CPRs and potentially Basin Model updates. T9-10-11 wells, if successful, will have their associated CPRs and potentially Basin Model updates. So plenty of news to come, plus updates on the FEED, BOOT and FID projects

Got to be $7 anything else is a bonus