Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
The last placing was at 8.5p on 2nd Aug 2017 Charts: Hargreaves Lansdown (Digital Look): 200 day moving average: Simple 14.5p; weighted 13.5p; exponential 11.5p Volume: low momentum: -3 (and returning to zero) Relative Strength Index (20): now in oversold territory (not yet a reversal of this trend, but would expect one soon) Fundamentals (newsflow): China: Migration pathway studies (perhaps highlighting specific drills, and making it a 'drill-ready' prospect for near-term farm-out) are due within days imo. Indonesia: Duyung development plan also due June - and possible asset sale thereafter (and soon according to Malcy). California: Dempsey frac permit expected June. Decision to frac Dempsey soon, or to start work on Alvares, should also arrive in June imo. Also Raven corporate action due end of June may provide useful partner to JV venture (perhaps they will buy part of our Working Interest?) DYOR. GLA.
This is end of the Raven Energy RNS on Tulaiyno 2-7: ....The Company will remain in voluntary suspension pending an announcement in respect of the corporate activities relating to divestments in Botswana and finalisation of its current negotiations with respect to a significant and strategic US domiciled energy acquisition...... Note that it is US domiciled - this is not XST
Good summary post from Safiande (on A D V F N) regarding 7th June RNS from Pancontinental, copied below: 'J284, Thanks for your posts. More encouraging potential in the basin but no real substantial jam yet! Alvares & Tulainyo are on trend but this current section of the Tulainyo well which is very shallow, deliberately so, is not comparable with Alvares. The Hunter gas discovery well drilled in 1982 at Alvares is very deep by comparison. Deeper than Dempsey. Based on the Begg release today it seems as though they have learned a fair bit on the Tulainyo structure from the Tulainyo 2 - 7 well to date & that they probably will deepen the well following further analysis etc in the next few months esp considering the oil potential. CRC who are the operator & biggest contractor in California have been very complimentary on Tulainyo recently & also on the Sacremanto Basin in general in their presentation to the Bank of America today. Regardless of Tulainyo, the JV has finally applied for the permit for Alvares ( sidetrack or log thro� the casing ) based on the Dempsey results it seems, so they appear to be sufficiently encouraged so far. They could have applied for the Alvares permit last year. In any event John Begg is the only partner in both projects, so they will continue to compare notes at will I�m sure. Alvares work is scheduled for Q3 as per SGC, whereas Tulainyo is likely to be Q4 at the earliest. So interesting days ahead as always in O & G exploration! safiande ' My take on this is that, as Sacgasco's funds are short, there was always going to be an either / or choice for a Dempsey frac; or to fund Alvares. As Dempsey is producing, the easy choice seemed to be to push back the frac at Dempsey forever; and use the Dempsey cash inflow to help fund some of the Alvares work. However, they always expected to get the comparison Tulainyo drill done before Alvares; and I think this remains important. So I think Alvares will now get pushed back to Q1 2019; and a frac at Dempsey will become the priority, and hopefully done within the next few months. Of course, they may push back Alvares to Q1 2019 - and still not do the Dempsey frac! I hope we get a JV decision on this announced very soon.
This was at the bottom of the RNS (in case you missed it): n addition, Empyrean has made significant progress on an "Oil Migration study" to identify and map effective migration of hydrocarbons to the prospects from the proven "Baiyun Sag" hydrocarbon kitchen. China National Offshore Oil Corporation ("CNOOC") (Shenzhen branch) has been highly supportive and cooperative during this study. CNOOC technical team shared data and analysis with Empyrean freely and contributed enormously in developing a basin-wide understanding of hydrocarbon source rock, maturity and migration pathways. Empyrean will make a further update with regards to the Oil Migration study as soon as it is completed in the near future.
From W H Ireland's broker note 13/11/2015 on Panr: Vision Gas Resources: Vision is jointly owned by Bobby Gray and George Kaiser. Bobby Gray is a Managing Partner of Vision. He has 40 years of oil & gas experience with independent companies in Texas and Louisiana. He has operated in the Tyler and Polk counties for more than 25 years. George Kaiser is the CEO of Kaiser Francis Oil. He is ranked number 118 on the Forbes Rich List. He is majority owner of the Bank of Oklahoma and Cactus Drilling Company. He has been actively involved in the oil & gas industry in the Gulf Coast area for over forty years.
- China seismic on migration pathways and resource update (due June). News on farm-out (June possible, but more likely end of Q3/Q4 2018) - WST fracking permit on Dempsey received (due June) - Fracking decision on Dempsey (June or July, perhaps with result by July/August)) - Duyung development plan approved (June) - Sale of Indonesia assets (could be June, most likely end of Q3 / Q4 2018) - Raven corporate action (June) - further news on work programme (and read across) on Tulaiyno; and Alvares (June/July) Hope this helps, Didso.
Aren't we expecting the resource update from ERC Equipoise on the Tain and Blake fields in May?
Doesn't the option for UOG to take 10% more of the Colter drill expire today?
RAVEN ENERGY LIMITED 30 May 2018 UPDATE ON PROPOSED USA ENERGY ACQUISITIONS Raven Energy Limited (Company or Raven) is pleased to provide an update in respect to its previously announced North American energy strategy. Further to the Company�s announcement of 7 May 2018, Raven remains in ongoing discussions in relation to increasing its Sacramento Basin natural gas interests. Whilst currently incomplete and non-binding, these negotiations are expected to conclude before 30 June 2018. Additionally, the Company is continuing preparations for an extraordinary general meeting of shareholders (EGM) to be held in July 2018, with a notice of meeting expected to be sent to shareholders within the coming weeks. It is anticipated that trading in the Company�s securities will remain suspended until the EGM is completed. Consistent with its jurisdictional focus, Raven has been in ongoing discussions with various interests since March 2018 regarding the potential sale of its remaining 100% owned Northern Licences in Botswana. These discussions are ongoing and there is no certainty that they will result in a sale, though the Company remains committed to divesting of these licenses. Further to this, the Company has also engaged CorpServe Botswana to advise and assist with its delisting from the Botswana Stock Exchange, as approved by the Company�s shareholders in November 2017. This process involves organising a share sale facility for Botswana Stock Exchange shareholders, to be conducted via an Australian based broker. The Company is currently in discussions with proposed brokers to progress this delisting and will provide the market with an update as it advances. The Company remains committed to growing the overall scale of its US focused energy business through further North American oil and gas acquisitions and remains engaged with leading US affiliated banks and institutions with respect to potential financing alternatives. The Company looks forward to providing the market with an update on its activities in the coming weeks. Yours faithfully, Nathan Featherby Executive Chairman Raven Energy Limited
Trouble is, Orchy, I'm concerned that GJ will never frac Dempsey (or not for several years) unless a lot of JV pressure is applied - he needs the production income to keep afloat now, may not have the readies for it anyway, cannot raise on the low share price, and won't take the risk. I very much hope I'm wrong on this - frac permit should arrive in June - then let's see if the JV puts GJ sufficiently through the mangle.
Thanks, Drewky - a great help.
Doing research here. Grateful if anyone could update me on the dispute with TPDC regarding $2.73m which AEX doesn't accept (and hasn't made provision for). Will this hold up the granting of new licences? Thanks. MC
Now being quoted 10.46 to sell; but 10.4 to buy
I thought I'd repost this - might help calm nerves. Useful post from Safiande on A D V F N. Thanks. 'Stew, So June it is as per bb�s earlier post. Certainly looking promising. SACRAMENTO BASIN - Dempsey on-going & throughout the summer. Testing of Zone 4 natural flow; co-mingling of deeper zones; stimulation if needed; testing & sales of the field level producing levels. - Tulainyo Testing of current zones. Deeper drill if needed. - Alvares Permit for sidetrack of deep 1982 commercial discovery by Hunter. DUYUNG Indonesian Energy Ministry on visit to Riau Islands Regional Govt which is the location of Duyung PSC, has confirmed that Dev Plan by Conrad / WNEL is to be submitted /agreed in June followed by further exploration thereafter. This ties in with Malcy statement from Tom that Duyung will be good to go in Q3. BLOCK 29 / 11 Info on oil migration pathway, improved estimates, any farm out to be released end Jun latest as per Gaz audio interview last Oct 2017. The geological work on the oil migration pathway is a key focus according to EME as it will enable the exploration effort to move forward with more precision and lower exploration risks. This geological work should already be well in hand as it was part of a 6 month comprehensive techical asessment phase from Autumn 2017. There has been four CNOOC discoveries since 2010 in close proximity to Jade & Topaz so it is a proven area for effective oil migration as per EME. So June could be a pivotal month going forward to say end Q1 2019.' To the above I would add: - Raven corporate action - XST + more? (end of May, apparently) - WST Dempsey fracking permit received (June) - Further California licence / land acquisitions, with EME having W.I. (I'll believe this one when I see it!) - news on Dempsey look-a-likes (asset sale? - after Dempsey proved-up) - Takeover of Sacgasgo by CRC, then buyout of all California assets from PCL / EME (total make-believe. Put your own date here).
Immediate works program Ongoing: Production optimisation, and production renewal through workovers of Sacgasco operated wellbores in six gas fields. Next 4 to 6 weeks: Connection and return to production of currently idle, but available, well bores in the Dempsey area and further south. Next Quarter: Alvares re-entry and assessment. Next Half: Infill appraisal and development drilling opportunity(ies) to increase gas production.
I understand WST frac permit went in on 11th April and will be with us sometime June (from A D V F N posters). But feel your frustration with GJ too.
Empyrean CEO Tom Kelly commented, "Thanks to the close proximity of existing infrastructure owned by the JV, the Dempsey Well can be connected to the sales pipeline in an expedited timeframe. With production of commercial gas flows at 1,200 mcf per day imminent, we look forward to reaping the benefit from this early cash flow as one of the JV partners with a 30% working interest. Additionally, there is significant upside potential from nearby wells where plans are in place to connect four idle wells into the grid to further increase production and cash flow. We also look forward to providing further updates on the Alvares 1 wellbore, where Sacgasco is planning to commence activities in Q3 2018."
To frack or not to frack? -that is the question - and has been for far too long. Just get on with it and frack the bloody thing.
Commenting on the announcement Pancontinental CEO John Begg said; �We are pleased that commercial production is soon to commence at Dempsey at healthy rates in the order of 1.2 MMcfd. Additionally there is good scope to further lift production from other, existing wells owned by the Joint Venture within the Dempsey Project lands. After such an extensive, multi-level testing phase, there will now be time to consider more fully the implications of the well results as a whole. Basically the section drilled in the well was saturated with gas over a very large interval. Additional future opportunities for gas production from within the Dempsey1-15 and other, as yet untested, gas production targets within the greater Dempsey land holdings can now be assessed.�
from interims: 'OPERATIONS REVIEW Etinde Exploitation, Offshore Cameroon (20% equity interest) In late 2017, the Etinde Joint venture comprising NewAge (operator), Lukoil and Bowleven reached agreement to implement a two well appraisal drilling programme in 2018. SNH, the Cameroon oil and gas regulator, has previously approved the concept. The first well, IM-6, is targeting the southern boundary of the "Intra-Isongo Marine" gas condensate field discovered by the IM-5 well in 2015. The primary objective is to firm-up the volume of petroleum resources in the field. The Gross Contingent Resources, on a P50 (2C) basis of the various fields have been determined at c0.9 tcf of gas with c95 million bbls of condensate (100 % basis). The IM-6 well is targeting an additional 0.7 tcf of gas in place on a 2C basis. The IM-6 well has a secondary target of clipping the geographical edge of a stratigraphically higher and lower sand packages that look to be similar to the existing Intra-Isongo discovery. The chance of success of the IM-6 well has been assessed as circa 50 %. The IM-7 well targets the main body of both these additional sand packages and has the potential to add a further 1.3 tcf of gas in place (on a 2C basis) to the overall resources. The IM-6 well has a target spud date in late Q2 2018. The entire programme is expected to complete in December 2018. The Joint Venture partners have previously agreed that a commercially viable FLNG scheme with a domestic gas offtake could present a credible forward development plan. The timing of this development activity is largely dependent on which development scheme the joint venture proceeds with. Bowleven remains committed to progressing development activities with the number one priority being the earliest possible monetisation of the Etinde asset.'