Member Info for SpArmada

MTucker, you are going to be diluted either directly (placement to finance capex) or indirectly (farm-our or, what I see more probable, a royalty sale). It seems the doors to debt are closed for the company.

I bet Colin is trying to raise capital through a debt instrument to finance the growth paths. If he fails in this endeavour, an equity financing will be the only choice. Farm-out to a smallish partner or a placement is the same thing in the end, because the Paradox won't attract a large player.

They have just released the peak production figure and liquid yield, when they have plenty of data from the tests. A serious company would have published the full data with chokes, pressures and duration of the different tests.

It is interesting to read that Kistos seems to ignore the previous cost overrun that was announced in 2023. The $45 million earnout should be calculated against both additional cost increase. Will this be the LAST increase of the CAPEX? I'm afraid it won't

I've shared those tweets with a friend that works in the o&g industry and she has provided to me the list of fields included in the DEWA cluster and told me that there are 31 wells already drilled, most of them exploration wells. There isn't public information about reserves or past production, it seems she would need a paid access for that. She has told me that this data can be found in the Petronas' platform, but I cannot find anything. She also told me that these fields produced from a couple of MOPUs, which are gone, and wellhead platforms, which may still be there.

DRO/Fields - D30

DRO/Fields - D30W

DRO/Fields - D41

DRO/Fields - D41W

DRO/Fields - DAFNAH WEST

DRO/Fields - DANA

DRO/Fields - DANAU

DRO/Fields - DARMA

DRO/Fields - DAYA

DRO/Fields - DAYA NORTH

DRO/Fields - SPAOH

DRO/Fields - WEST ACIS

Very useful, thanks!

Zengas, I have been trying to find information about the DEWA cluster, but every attempt has been unsuccessful, have you found information about the reserves and previous development? Thanks in advance

I don't understand how a public company can be in this situation, it's not serious. Shell not claiming a loan back, a potential farminee that is giving some money forward, an almost bankrupt company receiving exploration licences, the only project in a development-ready state virtually on hold ... I don't know why Orcadian hasn't been excluded at this point.

Herminator, it should be in the 3,000-3,600 boepd range, the exact amount depends on the calorific value of the gas produced, not all types of natural gas are the same

*Akatara

Started at 4 mmscfd and to reach 20 mmscfd within 2 weeks. A new and necessary cashflow stream for the company!

What makes the ESIM a joke is that it is not using inflation-adjusted oil prices. If they were adjusted, the current oil price would be below the 20-year average, and the EPL wouldn't be in place anymore.

Kistos' future value lies on the Norwegian acquisition of Balder that still has to resume production. Serica may try to buy it, but I don't think it is worth what Austin might ask for it, and I don't see them merging their businesses. If an acquisition outside the UK isn't possible, just sell the company to HBR, ENQ or ITH.

"lovely growth prospects in 2025" Can you name one, please? The new licences in Malaysia (Puteri and PM428) are not out for development right now and will not be on production next year. Neither Vietnam will

Malcy is a nice chap but a terrible analysts, he cannot say a bad word about any company

I expect the company to announce a second contract with Petros for the acquisition and processing of the additional data before the block of out to tender. So, it's not all lost. That will keep the company busy for the rest of 2024 and until mid-2025. But I think an award is impossible after Petros' press release. If Petros doesn't award this contract to UPL, it will be the company's death sentence.

ChartaRex, don't you think that AOI has ears in the sector and can make a good idea by itself of the status of the farm-out negotiations for the Orinduik block? Besides, AOI even holds 1 seat of the BoD.

Bridgedogg1 got it right, it's not a 1%, it is a 16% for ECO Atlantic!

Not the best update, despite what cheerleaders like Roxi may say. The delay in Akatara is temporary and must be caused by the technical problems with a faulty gas compresor that were described in the report shared here last week. Without the replacements, Jadestone cannot begin sales on spec, but this is speculative. Akatara's production will be highly economical, not only for the gas but the LPG and condensates that will be produced. I had wished a more positive tone from other assets to balance these not-so-positive news, but we can rejoice with the update regarding Montara's tanks, avoiding to use tankers will surely reduce the opex in the next quarters.

Just look at this sentence "an exploration well in 2025" and then read Petros' release from its own website: "a full e-FTG survey over Block SK334 is envisaged in second half of 2025. It is necessary to acquire the e-FTG survey over the entire SK334 block in order to have a wider comprehensive dataset" https://www.petroleumsarawak.com/news-media/news-and-events/2024/20-jul-2024-rejuvenating-and-unlocking-sarawaks-onshore-hydrocarbon-potential

Basically, Upland is telling a totally different story to Petros', and an exploration well in 2025 is 100% off the table from Petros' POV.

I guess you are not aware that in the case in Malaysia, it is Petronas and Petros who grant the PSCs, not the government. In regards to oil and gas licences, you talk to either one of them, not the ministries.