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my opinion everyone is focused on chuditch... i see Dunrobin holding more value short term and also the fastest one to develop. Once our 3D seismic announced and JV to follow. thats when things get really interesting ;)
lets take baby steps first guys hahaa i like the optimism!!! first target is to get out of this range so .12-.19p then onto 2020 resistance of .57 then onto .66p then see where we go after that. It will come guys and girls. patience as always and fill your boots in the 7's. Q2 is 4 trading days away! ;)
Couldn't agree more. It should never have been ramped down. The north sea is the UK best and biggest asset. And for them to let it dwindle away like it has is appalling. This was always going to come round and sting them. now look at O&G prices oil will get to $140 this year and nat gas is still on the rip.
I have been working in the O&G for 12 years now and this is great news for jobs and all offshore workers.
just to put how big Dunrobin is to prospective...
I worked on the kraken it has reserves of 137 million barrels of heavy oil, with an anticipated field life of 25 years. At its peak, it is expected to produce more than 50,000 barrels per day (bpd).
We have potentially alot more than that. and its heavy oil, deep waters, very technical and problematic to get it out the ground.
The Beatrice took out 140 mmbbl of oil and had a peak production of over 50kbopd. Our field is also potentially bigger than that! HOLD for sweet black gold! Boil's time is coming very soon!
Commercially the Dunrobin is very attractive to any major.
- shallow lying waters 75M
-It could hold 187 MMboe recoverable
-cheap drilling costs £7M
-net zero achievable by utilizing the nearby wind farm (Beatrice field now a wind farm)for all energy usages.
-close to onshore and can utilize existing sub sea and for a tie in.
-The Moray Firth area attracted many bids, including successful ones from Chevron and Equinor.
-already drilled -The primary reservoir intervals for both prospects are sandstones of the Beatrice Formation and Dunrobin Bay Group as intersected in well 12/27-1 where reservoir quality is good to excellent.
I would expect we will have some big major lining up to sign the deal once the 3D seismic have been done and CPR produced!
our north sea field is oil btw. But still agree on the government now throwing cop26 out the window and pushing for new fields to be explored and drilled. also to note on Boris last speech said that he is going to remove all red tape that comes along with exploring. Boil has one of the largest fields left up for grabs in the north sea. It will be getting some attention i know that.
Knock knock.... why hello shell. fancy a slice of our 398mmbbl pie? ;)
https://www. ogv. energy/news-item/shell-to-invest-25bn-in-uk-after-cutting-ties-with-russia-in-huge-energy-crisis-boost
Shell on the hunt for new fields. ;) with dunrobin being probably the biggest reserves up for grabs. Just imagine a JV with these!
60 mil buys to 20mil sells and down 7%. MM's had some fun today but at least some one could grab some absolute bargains!
Thats what baron is after. Hense JV talks since Sep. Its just a case of who, how big, and what deal we get!
Its all piecing together nicely. But this is a major great start they are starting the FEED of it.
“Entry into the FEED phase has strong support from our five joint venture partners headquartered in Japan, Korea, and Italy. And last month, a meeting of the Timor-Leste and Australian Prime Ministers included a commitment by Australia to establish an LNG Partnership Fund to deepen links between Australia and Timor-Leste in gas development and trade, including in the use of carbon capture and storage.""
Totally agree HFB, I think Dubrobin will be fast tracked. Wonder who the JV will be...Any major would suffice haha ;) ;) Just one with deep pockets will do!
https://www.rigzone.com/news/eni_and_santos_sign_memo_to_strengthen_ties-04-may-2021-165328-article/
Join the dots… ENI JV ;) they have placed themselves next to us on the block. Here to more of hoping…. 3 way JV ENi SANTOS and little old baron oil ;) what dreams are made of! And retirement! Haha GLA
Guys the seismics were done by shell. Best in the business. Like HFB said we all know it’s a beast. This 3D will show us if it’s a ridiculous beast ;) 10Tcf inbound ;) ;)
Our time will come… patience… why chase rainbows when your sat on the biggest one ;)
Im very confident. hense my huge holdings. But now that the world has changed and all the majors on the hunt for natural gas and also oil worldwide and north sea. were in an amazing position.
My take on it for chuditch we will end up with a LNG FPSO.
Dubrobin has a huge field one of the last remaining fields over 100mil. but have potential for 400 p50 reserves.
beast in the making.
Great summary HFB and that’s just 1 asset. We have dubrobin aswell ;) targeting max 400mil barrels, shallow water, cheap to drill and refinery onshore waiting for it. Multi multi multi bags if we get both to production. It would actually be mental! Morgage and retire job ;) ;)
Hahaaa thats one way to destroy a BB.
Yes mate couldn’t agree more. Huge potential for both! I just keep adding when I can. Hopefully get my target of 100mil before news drops. Added a few mil todays ;)
Its refreshing isnt it manic, wait until this booms im sure that will all change.
has anyone got access to this to read it?
How many milkshakes can i get for 71million shares??? hahaaa
come on shouston havent seen you load up for a while haha Boom time soon you know... ;)
https://www. oedigital. com/news/495166-bp-wins-two-offshore-exploration-blocks-in-indonesia
"The area is underexplored with significant potential of gas resource close to growing gas demand," BP said Friday.
AND,
https://www. oedigital. com/news/495130-petronas-wins-bid-for-oil-and-gas-block-in-indonesia
"Petronas, through its subsidiary, will operate and hold a 100 percent equity in the 3,131.8-square kilometer block with water depths of up to 100 meters. According to a presentation by the Indonesian government, the stimated recoverable resources at the block are 270.08 mmbo and 1,580.81 bcf."
How much gas do we have at chuditch again.... between 6-10TCF...
Knock knock whos at Barons door... its me BP and Petronas ;);)
160k buy??? haha you sure...