Member Info for robs12

WTE Final results 202: "Subsequent processing and interpretation of this dataset has been used to define a substantial prospect inventory on the Block with three prospects (Bulletwood, Jabillo, and Sapote) high-graded as potential targets for the initial drilling campaign. A 2018 DeGoyler McNaughton Competent Persons Report on the Canje Block remains unpublished. However, the block is reported by JHI2 to contain more than a dozen prospects in the Canje portion of the Liza play fairway, representing more than 10 billion barrels of prospective recoverable oil resources, with a number of the prospects exhibiting the same DHI (Direct Hydrocarbon Indicator) characteristics as the neighbouring Stabroek discoveries. As a result of a 2018 farm-out to Total, JHI is carried for the drilling of up to four wells and is funded for the drilling of additional wells."

This was text from the JHI website a little while back (I can't see it there now): "Canje Block is the same size and adjacent to the productive portion of the Stabroek Block operated by ExxonMobil, with recoverable reserves exceeding 4 billion barrels. Utilizing block wide 3D seismic, JHI’s technical team is working closely with ExxonMobil to select drilling locations on multiple billion-barrel prospects, each demonstrating direct hydrocarbon indicators identical to successful wells in the Stabroek Block." (JHI website)

I would think they are banking on better than 20% !!

1.26% of (potentially) 500MMbbls (that is the Bulletwood-1 expectation) is 6.3MMbbls, valued at say $5/bbl in the ground is about £23m, vs current mkt cap of £30m for WTE.
That's just the one well if it comes in as hoped for. Much more importantly, it will greatly increase the CoS on the other multiple prospects in the block with approx 10Bnbbls estimated.
So yes, I think it could easily hit 50/60 with a good discovery.

LOL! Good to hear it's still open during these exciting times. Enjoy.

LOL...good to know we have an ear close to the ground in the local tittie bar...

Quite encouraging to get a little more interest on the thread.

Harsh Dick, very harsh...

But fair.

https://oilnow.gy/featured/bulletwood-is-exxonmobils-second-attempt-at-hitting-pay-outside-of-prolific-stabroek-block/

https://oilnow.gy/featured/search-for-oil-underway-at-bulletwood-1-offshore-guyana/

Over 40 trades today...must be a record!
Some interest at last?

WTE

Indeed - at an average share price considerably higher than today.
All it will take is the GPA announcement and he will make his money back and much more. Let's hope this is the year!

Bulletwood-1 drilling expected to finish 23rd February:

https://marad.gov.gy/wp-content/uploads/2020/12/No.-13_2021_EEPGL_Operation.pdf

Amended now but still looks wrong! They must be enjoying Xmas a little too much down there... ;-)
Now it says they started drilling yesterday: "On December 29, 2020, Esso Exploration & Production Guyana Ltd (EEPGL) will commence its first exploration drilling operations at Bulletwood-1 Well Site within the Canje Block"

https://marad.gov.gy/wp-content/uploads/2020/12/Notice-To-Mariners-90-of-2020-3.pdf

Although it's a strange announcement - maybe a typo?

...we go:
https://marad.gov.gy/wp-content/uploads/2020/12/No.-90_2020_EEPGL_Operation.pdf

Three planned drills on Canje (hopefully!) - Bulletwood-1, Sapote-1 and Jabilo-1.

WTE also have an interest in Goliathburg-1 in Suriname (through their Ratio holding) planned early nest year too.

https://marad.gov.gy/wp-content/uploads/2020/12/No.-84_2020_EEPGL_Operations_Amended.pdf

I guess they need a few days after the testing ends to tidy up.

Stena Carron is due to finish testing on Redtail on Dec 22nd (according to Mariner's Notices). I'm assuming and hoping it will move to Bulletwood straight after.

No, just another factually incorrect and misinforming piece of journalism (if you can call it that) from that particular news outlet...
It's wrong.

Again, the Dutch gas assets are really small change in the scheme of things with PMG. They bring in a little cashflow to keep the wheels rolling, but are really not critical to the valuation. GPA is the main value driver, with Platypus secondary.
Renewables may be a good marketing point but not worth much at all yet other than the land value.
Take a look at the risked NAV (page 9) here: https://www.parkmeadgroup.com/uploaded/research/FinnCap_Research_20.11.20201.pdf