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This might make it a bit clearer on P10:
https://www.ecooilandgas.com/wp-content/uploads/2019/04/Corporate-PresentationApril-2019.pdf

IJwT
The whole idea of drilling is hopefully to confirm their understanding of the seismic and find a reservoir with the trap and seal in place. What makes you believe they are planning to sidetrack ? I've certainly not seen any mention of one and would appreciate the source if you have one.

Sorry, that should have read "post message" :)

If you are not replying to an existing thread then click on "new message" in the blue rectangular box running across the page, below "regular share chat" etc and above the page numbers.

With so little data to go on we can only guess but two points spring to mind.
They hung about on site for well over a week. Perhaps they were not prepared to sidetrack (a much riskier sidetrack than the up-dip discovery 13z) without the benefit of the new seismic.
I also wonder if they were debating about having a stab another 500 metres or so to the north west, where they could have explored the deeper horizon as well - P8. All speculative, doesn't change the current situation but interesting (at least to me) none the less :)

It's certainly not a high impact rns but then again why should it be, given that there's no drilling currently taking place.
However, on first reading, I take the 50-300+ MMBOE for Verbier as a big step in the right direction, together with possible reasons for the absence of sands. Were we closer than we think ?
The time line on P11 looks to scale, in which case the 31st SLR awards (interest finally officially confirmed) look pencilled in for the period end of July to mid August. If so, that's definitely good news. I was previously expecting September at the earliest.

https://www.jerseyoilandgas.com/wp-content/uploads/2019/06/AGM-27-June-2019-Final-Version-Website.pdf

fairdealer20
The problem isn't finding the document when I'm on the site,it's getting onto the site :)
dickupham
thanks for the taster :)

fairdealer20
The problem isn't finding the document when I'm on the site,it's getting onto the site :)
dickupham
thanks for the taster :)

I've tried to look at those propositions but the JOG website appears to have some problems.

on the other board:
https://www.guyanapetroleumdigest.org/drilship-chases-4-bln-barrels-in-gu?fbclid=IwAR36FFN4MvVAq_RWRvmzBPUXEI3OyZoLBcgdlM-pAPGjbcvyu6AOOU7A6W4

Talking of prices, did you ever find a good alternative to Mon*y AM. I wrote to the boss in the end, at AJB, but it got routed back to the person I was initially communicating with, so gave Sh*res a miss.

I'll settle the little dispute by disclosing that it's actually 17.2% and if the 2.8% doesn't matter then I'll have it :)

Yes, this is the relevant paragraph from the final results rns:

In addition to the P2170 prospects, we believe that there is potential for the exploitation and development of existing discovered, but currently undeveloped reserves that would allow for an area development approach around Verbier. Further to this, in January 2019, the OGA launched its 31st Supplementary Offshore Licensing Round, covering what is referred to as the Greater Buchan Area, which will comprise eight blocks that surround the existing P2170 licence. The OGA has estimated that up to 300 MMboe of recoverable oil volumes exist within this area, a material volume that potentially could lead to an area hub development, thereby enhancing the commercial viability of volumes discovered within P2170. During the year and post year-end, JOG committed resources to evaluating the development potential of this wider area. Post completion of the Verbier appraisal well, JOG remains well funded for further potential drilling activity on P2170, should this be agreed by the joint venture parties."

When they have fully evaluated the broadband 3D seismic to determine the reservoir distribution of the Verbier discovery, we will presumably find out the revised volumetrics of the find.
"Well funded" in my view equates to three further wells and up to 18 months G&A.
Again, having relinquished the licence containing the 20/5a-10y discovery and with the decommissioning of Buchan, Repsol Sinopec are hopefully no longer that interested in the UKCS. They certainly didn't get any awards in the 31st licence round. If this is the case then we must stand a good chance of getting 20/5d and 21/1a in the 31sr SLR. Fingers crossed.

bullson
If you had read and digested the relinquishment report, which has been previously posted, or indeed the link from JOG's rns of 20th May, which you posted yourself, you would realise that 20/5a-10y is the J2 reservoir. So to say your figures do not include J2 is incorrect.
And you keep referring to the "10 year" well. The 20/5a-10y well carries the designation of y as part of the OGA well numbering system. It means that it was a mechanical sidetrack of the original 20/5a-10 well and cores were taken.

https://www.rns-pdf.londonstockexchange.com/rns/4835Z_1-2019-5-19.pdf

https://dataogauthority.blob.core.windows.net/external/relinqs/Jul2018/Repsol_Sinopec_P294_Block_20_5a_Relinquishment_Report_April_2018.pdf

I've now read the press release and out of the nearly 1800 frontier blocks on offer, only 141 have been awarded, covered by 37 licence areas. So presumably they awarded those that attracted interest bearing in mind the required work commitments.
Although they have never flagged up the 31st round proper, I hoped JOG might go after something, to extract the sort of value we have seen in P2170. However, realistically, they are a small outfit and have their hands full with developing the aforementioned licence. That and whatever else they may be after in the 31st SLR, the results of which should be known in around 3 months time.
https://www.ogauthority.co.uk/media/5806/oga-press-release-31st-lr-awards-4jun_2019.pdf

I've only had a very quick look, as I'm in the middle of something but on first view (and I stand to be corrected) but none of the maps appear to show the blocks that I believe we (either JOG or our partners) would be interested in. We must not forget that these are frontier blocks. The blocks in question are 20/2d,20/7d and 20/13 through to 20/30.
They were definitely included in the original tender but do not appear to have been awarded for whatever reason ?
It wouldn't surprise me if they have forgotten to release the Moray Firth map :)

I used to be an Islington resident. Grand dad used to have a flower stall in Chapel Street Market, opposite the jellied eel stall :)

I don't believe that Equinor are going anywhere and they have made representations to that effect, to both JOG, CIECO and the OGA. The partnership, in collaboration with the OGA, are putting together the pieces of a jigsaw and the picture will look completely different in 3-4 months time, with the award of the 31st SLR blocks.
I expect the 31st round proper awards in the next few days and that could also reveal some good news.
I recognise the point you make on the cash flow and hopefully that too will be addressed in the near to medium term.
However, even if the appraisal well been a success, we were still looking at a 3-4 year development time frame, so nothing has really changed in that respect.
In blunt terms the market is not pricing in Verbier, draw your own conclusions as to why.

Why on earth do they not include an edit function.
That should have read "aforementioned discoveries."