Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
Really.......I just sold all mine.
Only joking')
You may as well hold some at least until we approach the Nanushuk during the drill. I'm sure the SP will be a lot higher then.
Premature evacuation funkinmonks.
Shame you couldn't stick around for the real fun to begin.
Thanks for your in depth technical analysis Jeffry.
PS. how's Bungle and Zippy nowadays?
one for those old enough to remember Rainbow ')
because there's some digits missing on the LCD of his calculator ')
The main target Nanushuk was reached prior to 10 days in recent oil Search/Repsol drill so those planning to sell on spud need to think twice if they are planning to buy back in during drill anticipating a significant drop in SP after spud. Also dont forget, days before the Nanushuk sands are reached we will drill through the Seabee where there may be significant oil shows in the drill cuttings and the SP will jump accordingly.
McG may be useful to you if you have quick read of these (if you haven't already) -I think adjacent discoveries are going to be developed for production by 2021.
https://www.oilsearch.com/__data/assets/pdf_file/0008/28457/Pikka-B-well-in-Alaska-encounters-hydrocarbons-in-the-Nanushuk-formation.pdf
https://www.repsol.com/imagenes/global/en/HR09032017_descubrimiento_Alaska_en_tcm14-62661.pdf
http://www.petroleumnews.com/pntruncate/533556056.shtml
Nanushuk are sands not rock deposits.
I think they will drill down to Torok only if Nanushuk 4 and 5 main targets prove disappointing and only if time permits. If, as we hope, the Nanushuk sands are drenched in oil then time (which is limited) may be better spent sampling taking cores and then sidetracking into the Nanushuk.
Nice to be updated regularly but maybe would have a greater impact if RNS released when Ice road and pad 100% complete. Rather like waking up the misses when you are 80% erect ')
I think quite a lot have been put through already, some even before the official release for trading date. SP held up well and continuing to rise toward spud date. Completion of ice road, ice pad and rig mobilisation RNS's next should give a nice further kick to SP imo.
Degsy there are multiple targets so not a simple answer. Also depends on drill rate which we won't know until drilling commences. Maybe get some more official information on this prior to spud.
Thanks boom.boom - anyone else know if drill is to go down to Torok? I guess it may also depend on the success in the other shallower targets and what testing and horizontal drilling may be performed. in any HC bearing zones encountered.
Took OilSearch/Repsol/Armstrong only 10 days to drill down through Nanushuk topset and hit oil- hopefully we will be kept informed with regular updates by the consortium during the drill. We have multiple stacked targets, including Seabee FM, Nanushuk 4 and 5, the deepest being Torok . (see slide 11 of presentation).
Interesting times ahead! ')
Sorry bynari was busy reading it and didn't notice you'd posted it already!
Just posted on ASX ')
Hopefully generate even more interest.
https://www.asx.com.au/asxpdf/20190121/pdf/441zpgt6674yr5.pdf
Only 4 miles east of Horseshoe.
They get more and more pathetic in their attempts don't they.
Pikka/Horseshoe Nanushuk oil properties
Lets hope we have lashings of it at around 4000ft
https://www.screencast.com/t/xSK1Pa5aF2eN
just got loads of stop losses triggering when bid was dropped - be careful if you have them set
'fraid I'm not getting my violin out for Islandgirl.
To post something useful and constructive
Very interesting article worth a read of the whole article for background and facts about our nearest neighbour Horseshoe - massive oil deposits just 4 miles west (Pet. News 28/5/17).
http://www.petroleumnews.com/pntruncate/533556056.shtml
here is an extract:
Horseshoe
Around the time of the first discovery at Pikka, Repsol was planning to make a public decision about how it would approach a development program in the Pikka region.
But instead, the joint venture reorganized. After the shuffle, Armstrong became the project operator and got a majority interest in the exploration and development acreage, and Repsol took a minority position - handing over control but remaining engaged.
The joint venture lost a year of drilling to the reorganization effort, but still conducted some limited fieldwork and reprocessed some 3-D seismic information from the region.
In an interview with Petroleum News in the summer of 2016, Bill Armstrong contrasted the discovery with the unconventional projects gaining attention across the Lower 48.
“We believe we have proven an oil pool that covers more than 25,000 acres, at a shallow depth of only 4,100 feet, with an oil column of 650-plus feet, up to 225 feet of net pay and an average porosity of 22 percent. Individual wells should be in excess of 10 million barrels each,” he said, noting, “to put it in perspective, this is 25 times larger than the average Bakken well,” referring to the famous tight oil play in the North Dakota region.
“Dream oil fields are still out there to be found, especially in Alaska,” he added.
This past winter was the first drilling season with Armstrong at the helm.
Armstrong initially planned to drill two wells. The Pikka No. 1 well would appraise the previous discoveries in the southern tip of the Pikka unit. The Horseshoe No. 1 well would be a wildcat well some 20 miles south of the Pikka unit, near a horseshoe bend in the Colville River, and was designed to “test a new idea,” according to Armstrong.
Concern from villagers in nearby Nuiqsut led Armstrong to cancel plans for the Pikka No. 1 well. The company struck a deal with ConocoPhillips to share information from the proposed Putu No. 1, which was located in the vicinity. But ConocoPhillips ultimately cancelled its plans as well, also in response to concerns from villagers in Nuiqsut.
The Horseshoe project went ahead.
The project involved a group of leases in a small swath of acreage that Armstrong acquired from the independent Royale Energy Inc. in late 2015. Royale had been at least partly interested in the source rock potential in the acreage, as well as the conventional potential of the Brookian and Beaufortian in the region. But Armstrong was exclusively interested in exploring conventional opportunities along the lines of its Pikka project.