Member Info for Ribeye

That shitty caravan, car without hubcaps and day-glo yellow test REALLY improve that site of natural beauty.

I hope where get some of those here in the Cotswolds to tart the place up a bit.

Any climate pressure with fall on coal much more severely than oil. Much of the world simply lack the electrical distribution infrastructure for renewable electricity to replace storable, transportable hydrocarbon fluids (O&G).

They could apply for funding for the 'transportation facilities' part of the project then.......the MTS and the Port. Every little helps.

11 Days days since PMO trading update - they were already at the reservoir and drilling ahead.

Talos as operator will control news flow. PMO will be keen not to sit on potentially price sensitive info for longer than necessary - it's in their interest to do 3 updates: 1) Zama main reservoir, 2) Deeper Marte Prospect and 3) Zama sidetrack update.

US markets are shut today I believe, so less likely news today IMO.

Biscathorpe 1 was plugged and abandoned.

Seer said "e will never have the billions of dollars to make Sea Lion commercial and the deep water wells and hostile weather and hostile Argentinians and her South American allies "

However, Sealion IS NOT DEEP WATER. It's North Sea kind of depth, and it's also a LOT closer to the equator than the North Sea. The oil is slightly waxy being from a lacustrine source rock, but it can be kept warm in tanks/tankers. It will command a premium to Brent.

Engineering wise, the development is actually more or less a 'copy and paste' of Catcher...so rinse and repeat.

The Falklands Fiscal Regime will also make the profit on a barrel of oil highly attractive.

The Argentinians are not in any kind of position to impose blockades or any form of action, and their new president Macri is also a sanguine chap who hasn't swallowed the Nationalist lies about British colonialists kicking out Argentinians (Argentina didn't even exist when the grandfathers of the grandfathers of today's Falklanders arrived in an empty and barren land.The rest of South America couldn't give a shit.

Sea Lion is a belter

Here's the story of last time Chris got all all 'TR1' about a company:

https://www.dailymail.co.uk/news/article-3079298/The-accidental-oil-tycoon-B-B-owner-faces-multi-million-pound-bill-trader-son-accidentally-buys-half-oil-firm-Belize-City-watchdog-says-buy-rest.html

Love the mounting tension. The shit will really hit the fan when Chris Oil has to launch a takeover bid because he's accidentally acquired 42% of the share capital in his Mum's name......again.

RKH not moved in IG

Remember Zama is a 'news flow' not a one off - appraisal of reservoir... possible follow up reservoir analysis....... Deeper target (Marte) oil discovery.....further Marte alaysis..........sidetrack up dip and reservoir characteristics there........flow test of sidetrack.............plugged and abandoned or suspended as future producer.......

On second thoughts, it looks like Zama 1 wasn't cored:

http://www.searchanddiscovery.com/abstracts/html/2018/ace2018/abstracts/2824223.html

I would not be surprised if they were coring this time and that slows them down a bit.

So last Thursday: "The well has encountered the main Zama reservoir and is currently drilling ahead as planned."

Already into the reservoir interval at that time, but in Zama 1 that was a monstrous 344 meters thick, so down dip looking for OWC might be thicker.

Whilst it's possible that after 6-7 days they've gone through and logged the first target, I'd be surprised if they have enough for a first RNS.

The main 'upside' to this drill seems to be the deeper Marte prospect. Even less chance of an RNS about that tomorrow IMO.

I think Saturday (copy deadline for Sunday Times) would not have been late enough to plant a story to create an excuse to sell into if insiders had drill findings they considered less good than expected.

Development drilling improves production and cash flow in a relativelt short timescale - good ROI!!

That's a bloody interesting article Tom

One packet of paracetamol wouldn't kill a small child.

Either he wasn't expecting to die and wanted to treat a headache, or it was planted on him .

Both of those (according to Ockham's razor) are more likely than he went to woods to commit suicide.

(DOI - I'm a Doctor and former forensic physician)

Zama spud announced on Twitter today!

https://twitter.com/PremierOilplc/status/1069518643879428096

Oiluser - the 'realised price' is much higher surely. The current hedges are well in the 60s and the price has been higher for the spot sales recently.

Catcher sells at a premium to Brent, as does the Indonesian oil I seem to recall reading.

Is that NEW detail about Zama appraisal - i.e. Flow testing the SIDETRACK? I'd read about the deeper target before.

Reading around about Zama suggests that the Mexican State is attaching a lot of importance to it too.......

At 2.4bn year end, that would be £320m reduction. That’s at better end expectations from half year isn’t it?

Even Catcher gas export?