Katherine Roe, CEO at Wentworth Resources talks through the Ruvuma gas development in Tanzania. Watch the full video here.
2 new Legacy fields wells plus Coho plus Cascadura plus 2000 barrels of condensate from Cascadura and Royston side track up and running by Xmas I still say around £2 if they get them producing.
Purely because if they can do that then it's given the market a clear sign they can very much bring the Ortoire block assets online which will continue into 2023 with the infill wells at Cascadura and progress the Royston find which the market can't ignore as producing and it's a big find . And that's without anything else Txp could find during exploration drilling.
Will the Royston st be set up be different to what's already there . They had 550 bopd from a wrong set up ( gas) and had problems stopping the flow from that so they could go do second test. Would we get much better flow rates with a new set up for oil plus they haven't reached the bottom of that structure. Does it make a huge difference one set up to the other.
One of the biggest mistakes was not raising money while we waited for Coho and Cascadura because we would've had Royston st done and making money along with the 2 legacy wells. We didn't need to raise that much as the 2 legacy wells already done was 1 million each and the side track maybe 2/ 3 million.
The share will rebound for sure but will take a bit longer now . We have fantastic assets and I'm positive we will find more no the Ortoire block but we need Txp to plan much better than what is happening at present.
I think most investors agree that Paul has to go Trinidad and get Cascadura up and running on time and is the least he can do after what's happened with Coho. Get out to Trinidad and pull the company back on track Paul because we don't want anymore excuses.
What gets my back up is Txp put stuff out on twitter but Aim is built on news coming to market. Take the fact a huge part of the world class Cascadura facility is in America and about to be shipped to Trinidad which is fantastic news for shareholders yet f... all from the company to market . It's something positive for us all which then builds confidence and the market can see we have every chance of getting Cascadura up and running on time.
Some on twitter means jack sh.. to the market.
I would give him a chance because while Coho is very late you just can't lay the blame squarely at his feet. With Cascadura he has very little to fall back on like, it's been 20 plus years since onshore gas and of course Shell.
What I want from Paul is a commitment that he will be in Trinidad till Cascadura is in production and not thousands of miles away thinking he can sort things out over the phone.
There's no point in employing locals if they can't do the job and by the shambles of Coho it's there for all to see. Txp need highly experienced teams and not the teach locals and all is good attitude.
Get you act together Txp because your investors will not accept a other shambolic event like Coho and it would certainly point towards management not being good enough.
Well Paul has given some valid explanations and some not so for Coho. Something he will find hard with Cascadura especially if Ngc get the pipeline done in time. He stated the pipeline would be completed before they have.
Txp can't come out with an excuse like it's been over 20 years since the last gas was done onshore or waiting on Shell and Ngc.
And I don't want excuses about the bloody weather either. Just make sure with Cascadura you can prove to the market and investors Txp can hit it's target date .
And if not interested then why do Shell keep hold of their central block as it is small and the gas and oil production is small compared to what Casca will be producing and then you can put Coho wells on top and it's all on their doorstep .
They produce both oil and gas on some of the biggest projects in the world and will continue to do so for many many years yet.
The shell onshore block producers both oil and gas and they even drilled 2 wells if memory serves me right last year on the their block. Like I said if Shell deem it fit because it benefits them ( right next door to Coho and casca and basically anything else Txp find then they would buy it.
If not hey no problems as we will make excellent profits for many years. And if they sort out the taxes then even more profit.
They will also be by far the biggest onshore producer in Trinidad and that's without Royston or anything else they find.
The Ortoire block has been fantastic so far on the first phase of drilling and if phase 2 is good then of course others will be looking at us .
What Txp needs to do this year is get Coho / Cascadura/ Royston up and running and concentrate on infills.
Personally I have always stated that I think Shell will come in and my feeling was after Royston/ kraken if it was a big gas discovery its literally right on their doorstep. Find anything like Cascadura again I believe they will take Txp out. Coho will have the infrastructure done and 2 wells and same with Cascadura which would adding more infill wells and it's onshore so very cheap for them to do anything else needed on the block. Txp is small fry to them but could be also important for there works overall in Trinidad.
Just my opinion but it does make sense.
I think absolutely everyone agrees with MJ that they need a top man in Trinidad to move these projects forward who's not afraid to kick ass when needed.
It makes you think that employing locals just isn't working for Txp at present.
Going for a nice Sunday lunch with the family. Have a great day to all.
Sorry I should also have stated I do agree it has taken longer than I expected, but we can't change that can we so we move on to it's completion and first gas from the Ortoire block which no matter what is fantastic news.
Hopefully we will see Ngc do a better job in pushing the crews for Cascadura. We also get the money back for the Coho pipeline.
No it is not in all in Txp's court I'm afraid for obvious reasons. Government/ local councils still have huge control over the process on most aspects with safety being the most important and trust me they will stop a section of the job without hesitation on the simplest of things( I've had it done to me many times ).
So so many things have to come together for an underground structure to be put in it's bloody frightening. If you have a fantastic
crew it can be done very quickly but you do need good luck as we all know when doing projects something will always rear its ugly head when you least expect it.
Anyway we must be due news very soon.
I'll be really pis... off if Paul comes out and says thanks to our staff and contractors/ government for doing a great job in getting the coho facility online as it's been nothing short of totally embarrassing by the lot of them.
Personally Txp should of raised money from the market to continue drilling in this period and I'm not talking a huge amount but enough to do 2/3 drills especially when you think that Royston would have been st and flowing .
Need Paul in trinidad from now to at least Cascadura first gas to push these so called workers. And no more bs about the weather as machines can work in rain extremely easily as do people every single day around the world .
Shell must make very good profits from oil and gas In Trinidad or they would be here for over 100 years. Also didn't shell drill 2 new oil wells on the onshore central block last year. Do agree that shell at this moment would just wait and let Txp prove the Royston/ Kraken up then if interested would make a move. To have Royston and Kraken plus Cascadura would be good for any company at the right price and obviously producing so we great good value.
Dare I say news anything now .
Yep and I put in a recovery rate of 17% but could be more could be less. The point is absolutely nothing has been added for Royston whatsoever. Basically it's worth a crap load of money. Just got to see what this side track will do for Royston but we do know the bottom section can flow at 550 bopd and no water and top section I think was 75 bopd but could be wrong on that bit.
What's people's thoughts on a good realistic flow rate from the side track if successful at Royston. A few here have said between 750 to a 1000bopd would be great and I'm the same. Also got to remember if it flows at that rate its straight to market.