Member Info for MozzaBezza

I think they probably would mark up.

I've dripped a little bit more in here. Not loads, but Oswig is now 46-48 days in so we're at/past the point of calling a duster, assuming they are on time scale.

Equally, it could be a cambozola repeat, so we'll just have to see what happens.

I think with conventional drills, in normal places, they can do them quite fast.

I mean Maersk Interceptor for example, did 1742 meters in a day once.

Shame. But we move on.

Alas. Fingers crossed for Oswig then, 2hich is even more important now!

I have similar worries. Their current discoveries are either too small (net boe terms to LBE) or carry too many question marks (Egyptian vulture) to be able to get a sensible valuation for the firm on those alone. Esspecially conaidering that the firm is burning through cash in that time.

A nice big discovery, say 15-20m net boe, in one field, to LBE gives us a much more solid base to then work from re. monetisation.

Well, we're now at 41 days in (or a few more if you think, like me, it probably spudded a few days before they RNSed it), so we're in the news zone now.

Fingers crossed!

I can't speak for Paul, but the reservoir depth is 2,140–2,300m for Copernicus, so that would speed it up relative to Oswig which is twice that, plus I'm sure I remember them saying it was more of the conventional dtill type somewhere, not a HTHP well, which again speeds it up.

In other news, ocean mermaid may nowbe done with what ever it was doing. Seems to be heading away now with no particular pattern. Let's just hope it bodes well for us!

Fingers crossed that at least one of these comes in. The thing is, as long as at least one of them does come in, it will be worth it because discoveries in safe jurisdictions, rightly so, get larger values per BOE, then places that are harder to operate in.

Even then, I would have preferred a production deal but it is what it is now and a big discovery or two will really help justify a higher valuation while we don't currently have the production we would all have wanted.

Well spotted! Very interesting document. I'll try and give it a proper read - not that I think i'll understand much!

Still seems to be mapping away, now doing an wierd spur off to the side. I'd lovw to know what they're looking at/for.

Reckoning that they spudded it a few days before they RNSed it, we'll be ~36 days in now.

Assuming it has all gone to plan, from the OMV document we know that we either are in the expected reservoir now, or have been for a week or so, depending on what numbers you use from the document.

OMV estimate 46.6 days in the event of a dry well and 57.9 days if they do find hydrocarbons. Presumably, we'll know by around the week beginning 12th September if it's a duster.

That being said, Olympic Delta, no longer seems to be doing the tracking/surveying motions, so I think Paul called that more correctly than I did.

Ocean Mermaid on the other hand, is still very much doing back and forth moves.

That's what I thought too initially, but it seems to be a multipurpose ship that does surveys too:

https://reachsubsea.no/assets/olympic-delta/

Right now at least, it seems to be going vack and forth like Ocean mermaid is.

I don't know what to make of it. Maybe they've lost a big and expensive bit of rig on the ocean floor and are trying to find it!

I have not a clue, but I guess time will tell.

Olymic Delta now seems to be tracking the field too. Albeit in different directions.

It may well have nothing to do with us, but assuming it does, it's presumably good (although I would say that), because if they drilled down and found nothing initially, I can't see why you'd spend a load of money getting ships out to survey.

The plot thickens... Fingers crossed all.

Wow. That's a lot of liquidity too. Esspecially if that's in one hit (presumably).

I'm hoping all this upwards momentum is because of a leak! Let's face it, we don't see run ups normally on spud RNS'.

And there we have it. Copernicus spudded. Fingers crossed.

It's wierd. Well, whatever it is doing, it's obviously very methodical, because when you track it, it's not moving randomly around. It looks like it's mapping something, but that's a complete guess on my part.

Brilliant!

Nice find, Paul! As ever you're completely on the ball. I can't find anything obvious to say that there's another drill first, but I guess time will tell.