Member Info for robs12

Indeed.

WTE holds 7.2% of JHI, who in turn have 17.5% of the Canje block - so an effective 1.26% of the block.

Sapote-1 is described as potentially the largest drill on Canje to date, and Jabilo-1 (previous drill) was targeting 1Bnbbls.

So if a positive result and commercial, WTE should have at least 1.26% x 1bn = 12.6Mbbls, worth at say $10/bbl, approx £92m - on this well alone.

WTE market cap is ~£20m after yesterday's and today's rises.

With another 12 drills lined up starting Q1 next year, and seven prospective areas identified so far then the potential is huge.

https://oilnow.gy/uncategorized/exxon-targeting-2022-start-up-for-major-12-well-campaign-at-canje-block/

Of course the same applies to ECO...

It's not that long since the SP was above 20p anyway.
IF this is a positive result, then it will put a very different perspective on things. A commercial well and a plan to drill 12 further wells on Canje alone should propel the SP well north of that, and quickly.

IF it's a positive result... given the volumes traded and the extremely small amount of stock available, I doubt yesterday was anything more than a small sudden demand unable to be filled. Previous drills have been not been 'leaky'...

Looking good, though the volumes (at least that I can see) are still tiny.

Better be careful, someone will be along shortly telling us what they supposedly heard in the local bar... ;-)

@John117 - "So it’s up on last year then given the July figure."

No, the figures in the post are NM3/hr - normal cubic meters per hour flow rate. The flow is steadily decreasing.

SOTB. Possible, but Vermilion are not exactly pulling out all the stops to drill new wells. Two so far this year, but not on PMG's fields.
According to the interims "A new seismic reprocessing project is being carried out which will help define and high-grade the extensive prospectivity around Diever". That will take time to translate into new drills. It'll be too late to catch this gas price spike IMHO.
Last year's prelims stated "Boergrup well permitting and planning is underway" which is close to Diever, but no news of that yet, they refer to it as a 'potential' well in the AR.

The website linked to earlier is very informative. Piecing a few things together from PMG's site and that site (where production figures per field per month are shown up to end July)...

PMG have a stake in 4 producing fields - Brakel, Grolloo, Geesbrug and Diever. Diever is 7.5%, the others 15%.

Diever accounts for 90% of the gross gas produced (Geesbrug ~5%, Brakel 4%, Grolloo 1% (though it appears to have been shut in for 5 months this year)).

So Diever is the main driver here. Gas + condensate avg production (NM3/hr) from Diever has been:
2017 - 28,023
2018 - 58,003
2019 - 45,727
2020 - 39,038
2021 - 29,965 (to end July)

so has almost halved in 3 years...

I'm expecting an approx 23% decrease year on year in the average MMscfd production figure that PMG report in November - good thing that TTF is up massively to compensate!

When they (Vermilion) say 1.0 net, that means they own 100%, 0.5 net they own 50%, so don't think either is on the fields that PMG have a stake in, since Vermilion's % is 45% or 52.5% on those.
The Blesdijke sidetrack well is not with PMG, well code BLD-01-S2.
The other 100% well appears to be NIJEGA-06-SIDETRACK1, well code NGA-06-S1

https://www.nlog.nl/datacenter/brh-overview?lang=en

Lots of info on NL gas drills on the link if anyone is interested.

Including production figures month by month for individual wells. For example, looking at Diever-2,
2019 averaged 29.8 million m3 gas + 570m3 condensate per month.
2020 - 24.6mm3 gas + 213 m3 cond.
2021 - 19.2mm3 gas + 149m3 cond (6 months to June).

From PMG's own reports production is declining:

2019, Diever West alone was producing avg 44.6MMscfd.
2020 All NL was averaging 38.3MMscfd.
6 months to 31/12/2020 All NL avg was 32.8MMscfd.

So we shouldn't be surprised to see it significantly lower again in the November results.

And again...!

https://oilnow.gy/featured/breaking-exxon-makes-new-guyana-discovery-increases-resource-to-10-billion-barrels/

'Our' result must be next..."Drilling of Sapote-1 is anticipated to take 60 days, with results anticipated in late October."

Watch this space..

For the gas fans, just had a quick read through of Vermilion's Q2 report which often gives a good indicator of PMG's NL results.

NL gas production Q2 '21 vs Q2 '20 is down 21%.
H1 '21 vs '20 is down 17%.
No info on which specific fields are producing what of course, so may or may not follow through to PMG's production figures, but don't be surprised if lower than last year.

Operating expense (CAD$/boe) is up 13% YTD 21 vs 20. That may or may not follow across too, but I'd expect it to be up for us too.

The good news is (of course!) TTF, Q2 up 366% (€/mcf) compared with last year, and YTD + 187%.

https://www.vermilionenergy.com/files/Report_Q2_2021_.pdf

"Spare a thought for the director who made the decision to withdraw from Platypus....oh dear!!!"

Let's just hope that that doesn't refer to TC when the prelims are announced (19th November...not toooo long to wait..) ;-)

What makes you think that PMG are getting current spot price for their gas and aren't tied into a long term supply contract at a much lower price?

"Parkmead Group isn't currently profitable"

Quite correct.

Is that a bad thing? If you think so, can you clearly explain exactly why it is bad - given the company's current circumstances and strategy?

...and have been for a long time! ;-)

Good to see some very positive SP action after all this time. Most oilies up significantly today though.

Yep...but that's OK. Much better not to be muppet central!

The ball is rolling around the roulette wheel right now...red or black....red or black....let's hope it's black and this will fly.

https://oilnow.gy/featured/drilling-at-sapote-1-has-begun-jhi-confirms/

https://oilnow.gy/featured/drilling-at-sapote-1-has-begun-jhi-confirms/

I expect there may be an RNS or two (ECO) on Tuesday (if not tomorrow?)

https://oilnow.gy/featured/tanager-1-estimated-to-contain-over-65-million-barrels-of-oil/

NQM,
Davaar P2406 Phase A is only to reprocess 202sqkm of 3D seismic & AVO analysis.
Phase B is to shoot more 3D if necessary (by 1/10/2023)
Phase C is the drill or drop decision, which is needed by 1/10/2025

See here and here:
https://data-ogauthority.opendata.arcgis.com/datasets/oga-licences-ed50-1/explore?location=56.615900%2C-5.050750%2C5.87&showTable=true
https://dataogauthority.blob.core.windows.net/external/Redacted_Licence_Docs/P2406_LICENCE_Redacted.pdf

Err.....maybe the latest, but that statement is from March?

Nice.
Thanks celtics.

https://www.theguardian.com/environment/2021/aug/17/exxon-oil-drilling-guyana-disaster-risk