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... would have had a more positive effect on the sp - a bit more like is happening over at PANR.
Wonder when we'll get more Roystone news and if that'll get us moving in the right direction again, since oil has the greater 'financial clout'.
Though, I thought that on the original Roystone-1 well, the RNS dated 21Dec2021 said that back then the well had proved commerciality:
"This third test confirms the commerciality of the newly discovered light oil pool at Royston. "
Yes, we were advised of the dates well in advance, in an RNS dated 8th Aug23:
"Q2 2023 Dividend Declaration. Based on the Company's current excess liquidity above $60 million and the described return of capital policy above, PetroTal confirms that a cash dividend of US$0.025 per common share will be declared and paid in Q3 2023. This represents a 4.7% quarterly dividend yield (18.7% annualized) based on current share price and includes the recurring US$0.015 per common share amount that was paid in the prior quarter, plus an amount for a minimum liquidity sweep equal to approximately US$0.01 per common share. The total dividend of US$0.025 per common share will be paid according to the following timetable:
· Ex dividend date: August 30, 2023
· Record date: August 31, 2023
· Payment date: September 15, 2023 "
The forecast shows, over the next 2 wks, several days as having a good chance of rain in the Iquitos to Lima area.
https://www.weatheronline.co.uk/weather/maps/forecastmaps?LANG=en&UP=0&R=0&MORE=1&MAPS=nw&CONT=samk&LAND=PR&ZEIT=202309110600
Just came across this video presentation from Petrotal, at the 2023 EnerCom Denver Energy Investment Conference
https://www.oilandgas360.com/edenver-petrotal-2/
Recalling RNS 21Dec2021:
“Paul Baay, President and Chief Executive Officer, commented:
"This third test confirms the commerciality of the newly discovered light oil pool at Royston. Data from all three of the production tests have confirmed that we have a long-term oil project that has the potential to provide future economic benefits to our shareholders and the country.“
The Niger military ruler, General Abdourahamane Tchiani, who seized power in a coup, has proposed a return to democracy within three years.
https://www.devdiscourse.com/article/international/2564177-nigers-military-ruler-general-tchiani-proposes-return-to-democracy-within-three-years
Looks currently like a forecast of a good chance of rain for the Amazon River area – Iquitos to Manus – 24th 25th 26th and then the chance of rain in the Bretana area 27th 28th Aug.
https://www.weatheronline.co.uk/weather/maps/forecastmaps?LANG=en&UP=0&R=0&MORE=1&MAPS=nw&CONT=samk&LAND=PR&ZEIT=202308250600
Has PB ever talked of TXP trying out horizontal drilling at Roystone - Horizontal wells over a mile long are now quite commonplace. In July, ConocoPhillips Alaska broke the state record for longest rotary well — 32,468 feet !! Drilling to a depth of 14,370 feet then turning horizontally through the reservoir and drilling another 18,098 feet - that's six miles of drilling.
If TXP could keep the horizontal in the best horizon, it would no doubt produce multiple production rates compared to what one would get from a vertical well. After all, vertical contact with the reservoir may only be in the order of, let's say, less than 100 feet.
Maybe they just don't have the kit and expertise on the island? Or maybe at the current time, it's the extra expense?
https://www.conocophillips.com/spiritnow/story/longest-rotary-well-in-alaska-for-the-17th-time/#:~:text=In%20July%2C%20ConocoPhillips%20Alaska%20broke,completing%20six%20miles%20of%20drilling.
ADVFN pointer to an article about South Sudan, from last month, that I'd not seen:
I rather like the line:
"... South Sudan's authorities are reevaluating their strategy. Their long-term goal is to attract investors and raise oil production to 450,000 b/d, supporting the state's oil policy."
Let's hope such words bode well for Savannah's future in SS.
https://www.ecofinagency.com/public-management/1807-44739-south-sudan-operational-challenges-hamper-daily-output-increase-plans
Reguarding the interview -
For those who, like me, find the accent a little difficult to 'tune into' at times, remember that You Tube does have a transcribe facility.
Once you have the You Tube video ready to play, click on the 3 dots below the bottom right of the video's rectangle, then click on Show transcript.
The text of the interview will then be displayed alongside the video.
… of the reservoirs, giving a good visual as to what Pantheon has discovered and drilled – this animation was made before the drilling of the Theta West & Alkaid 2 wells, but shows their proposed locations.
Animation starts about 58m 08s into the presentation.
https://www.youtube.com/watch?v=-2894QomlXQ#t=58m08s
The start of the 3D looking at the SMD and Alkaid starts about 1hr 04m 50s
https://www.youtube.com/watch?v=-2894QomlXQ#t=64m50s
88e reports today on their recent Hickory well which was drilled close up to the Pantheon Ahpun southern boundary.
Page 9 of the 88e presentation is their start of the Hickory well assessment.
They sound pleased with what they’ve found and compare to an analogue Codell field:
“The producing Codell1 field is a strong
developed analogue delivering robust
economics with lower permeability and
reservoir thickness”
https://clients3.weblink.com.au/pdf/88E/02691742.pdf
Estimated Ultimate recovery 18mm barrels x $80 oil price = $1.44 billion revenue.
Taking these wells as appearing to produce ~ 50% of ultimate recovery over first 5 years – from the charts we’ve been shown –
Then looking just at that, would be NPV10% over 5 years for 50% of $1.44bil
and to my knowledge that =~ 0.758 x 1.44bil/2
So average NPV10% for revenue over first 5 years =~ $545.7million
And PANR are saying $150mil of this comes through after Capex and Opex deducted to give their NPV10 ($80/bbl constant real ANS Price): $150 million with 52% IRR.
So, looking at the costs they’ve given, for the wells, pads, chiller and ‘hot tap’, the figures appear to fit together.
Anyone like to improve on the logic, or the maths – please do.
IMHO DYOR
This I found an interesting interview, about:
The Energy Cliff that we’re apparently headed for.
Oil & Gas discoveries not keeping up with world demand and depletion.
How Energy supply links in to currency inflation.
How liquid fuels are going to continue to be needed to power the world’s shipping and for aircraft.
So, looks like we’re going to need oil & gas for quite some years to come.
And looks like Pantheon will find a market for its oil well past 2028.
A good start point: 12m 51secs in.
https://www.youtube.com/watch?v=CeRJQFs5BrM#t=12m51s