Member Info for MTSparky

The Zaedyus discovery well, GM-ES-1, was drilled in 2011 and encountered 72m of net oil pay in two turbidite fan sequences. This was the first deep water well to be drilled offshore French Guiana and has opened up a new petroleum province offshore South America, confirming the validity of the West African field analogue models that were used ahead of drilling. The Zaedyus prospect is located on the Cingulata fan system and is one of several prospects that have been mapped from the 3D seismic data. Since making the GM-ES-1 discovery, Northern and its partners have undertaken a four well drilling programme which commenced in July 2012 and will continue through to the end of 2013 with well GM-ES-5. Wells GM-ES-2 and GM-ES-3 were drilled to confirm the up-dip extent of the Zaedyus discovery and the Priodontes exploration prospect respectively. Both wells were plugged and abandoned having encountered well developed reservoirs and oil shows. During 2012 a major 3D seismic survey covering some 4300km2 was acquired over the Central Slope area to the west of the Cingulata fan. Preliminary reviews of the processed data which was delivered in August 2013 have identified the presence of several basin slope/floor fan systems, similar to the Cingulata fan system on which the Zaedyus discovery was made.Shell and its joint venture partners have integrated the data from the five wells with newly processed 3D seismic. This data has been interpreted and mapped, and Northern Petroleum will decide on how best to proceed with its involvement in the acreage.

That was incredible and it shows what can be achieved on AIM if you have the right people pumping the volume !! You have to ask, how come WSX were at 1.2p when rumour of SC54a was out. Now we have SC54a and South of England in the bag, where is the pumping volume ?!?!?

Yep, very good. WSX cherry picked the acreages based on previous due diligence carried out by WSX. WSX is looking pretty good for a re-rating...;o)))

Agreed 100%. You cannot trade online, buy or sell all NT. Maybe a large trade being worked. Hopefully a large buy. Chunky holding RNS to follow would be great. We have assets!!

That oil find must be worth circa £10m to Wessex. If it contains say 100m barrels of oil. Would Shell pay off WSX just to get them out of the way ?!?! m/c £5m WSX looks a good entry level at this price IMO. We have assets !!!

...any news on the exploration front there and we will surpass 1p surely. The 10p offer talk will return...;o))) Cant think Shell would mothball the acreage indefinitely with an oil discovery already in the bag. The partner interests in the offshore Guyane Maritime licence are: Shell 45.0% Tullow 27.5% Total 25.0% Northpet Investments 2.5% (Wessex owns a 50% equity interest in Northpet) Wessex Exploration PLC ("Wessex Exploration" or "the Company") announces that on 9 September 2011 Tullow Oil plc ("Tullow") issued a news release stating that the Zaedyus exploration well (GM-ES-1), offshore French Guiana, has made an oil discovery having encountered 72 metres of net oil pay in two turbidite fans. Results of drilling, wireline logs and samples of reservoir fluids show that the well has encountered good quality reservoir sands on prognosis.

Maybe UK Gov had a hand in getting Cochran and Wessex together? There has to be some reason Cochran came to Wessex, not sure 15% in the Philippines was it.

This could be the news Cochran is looking for to push the SP up to 1p range then have his placing. 1p values WSX at £10m. They have about £4m cash?

"The joint venture group has acquired a considerable volume of new technical information across the area of these three relinquished licences, including onshore and offshore seismic acquisition, extensive seismic reprocessing, Full Tensor Gravity Gradiometry and geochemical analysis. Analysis of these data over the past year has given the group unparalleled insight into both conventional and unconventional plays in the region. This will allow the group to focus its re-applications around the most prospective parts of each of these areas, which are located on the northern flank of the English Channel Basin, on trend with the prolific Wytch Farm oilfield." ...WSX already have processed lots of data for the area and only applied for the most prospective areas !! on trend with the prolific Wytch Farm oilfield!!

OK maybe now we can be 100% sure. Looks very promising acreage. We got assets folks !!!

This could be Mr C's first WSX RNS. 0.5p is a bargain !!...;o))

Cheers mate ! I have been watching RNS because I knew an announcement was due soon. I just hope we get a positive reaction to the value of WSX.

"on trend with the prolific Wytch Farm oilfield" ...me likey !!!

Well within the space of a week we have 15% offshore in the Philippines and now 3x blocks offshore UK. "The joint venture group has acquired a considerable volume of new technical information across the area of these three relinquished licences, including onshore and offshore seismic acquisition, extensive seismic reprocessing, Full Tensor Gravity Gradiometry and geochemical analysis. Analysis of these data over the past year has given the group unparalleled insight into both conventional and unconventional plays in the region. This will allow the group to focus its re-applications around the most prospective parts of each of these areas, which are located on the northern flank of the English Channel Basin, on trend with the prolific Wytch Farm oilfield."

I am 98% sure Wessex have got those licenses. IOG's are shown on the same group of maps and coloured red, the same as Wessex license map. Need RNS to be 100% certain, may have to wait until tomorrow am though.

NO...lol

Three blocks West of Isle of Wight

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/367315/28R_Award_map5_EC.pdf

98/7b, 98/8a & 98/12 (Part) Wessex Hydrocarbons NWE Mirrabooka Reprocess 3D D/D Promote

just now mate.