Member Info for Thenorseman

Sorry somehow 14 became 24…

24k bopd restriced!

Loads of rigs available going forward!

https://www.upstreamonline.com/field-development/on-tenterhooks-saudi-aramco-could-suspend-more-offshore-drilling-rig-deals/2-1-1622658

ChessM

«Ithaca Energy = Production 700,000

Market Cap 1.25B «

I think Itachas production for 2023 avreager 71000 barrrls per day so I think you got a zero extra :)

Best regards

N

Https://www.reddit.com/r/RealDayTrading/comments/r7l2by/the_definitive_guide_to_stock_forum_trolls/

That is near £20 million increase in market cap for those 70 barrels!

50% on 70 barrels per day ;)

Https://www.upstreamonline.com/exploration/alaska-oil-test-triggers-near-50-increase-in-companys-stock-price/2-1-1619284

“Meanwhile, Rystad forecasts that front-month Brent futures prices will average $86 per barrel this year, showing a recovery from $81 per barrel in the first quarter of 2024 to $86 per barrel in the second quarter, bolstered by the extension of the Opec+ group’s voluntary production cuts.

Oil prices are forecast to climb further to $88 per barrel in the third quarter of 2024 and eventually reach $90 per barrel in the fourth quarter, Rystad said.”

https://www.upstreamonline.com/exploration/deep-drive-39-more-deepwater-wells-forecast-in-2024-drilling-surge/2-1-1618489

“Meanwhile, Rystad forecasts that front-month Brent futures prices will average $86 per barrel this year, showing a recovery from $81 per barrel in the first quarter of 2024 to $86 per barrel in the second quarter, bolstered by the extension of the Opec+ group’s voluntary production cuts.

Oil prices are forecast to climb further to $88 per barrel in the third quarter of 2024 and eventually reach $90 per barrel in the fourth quarter, Rystad said.”

https://www.upstreamonline.com/exploration/deep-drive-39-more-deepwater-wells-forecast-in-2024-drilling-surge/2-1-1618489

Looks like they felt they had to RNS the current status of testing yesterday so that they could talk about this in the half year report issued today (report should not contain any new information only a summary of what is known already is what I understand).

N

“Following completion of the TO-14 well, Sonangol moved directly to testing, before encountering a series of weather and logistical delays that slowed progress early in the year. Now, at the time of writing, formal flow testing has begun, and while engineering challenges have been encountered and have been frustrating, we remain positive, knowing we have encountered oil in the well and don't yet know its ultimate commercial prospectivity. While success is never assured in oil and gas, we look forward to continued progress on TO-14 leading to definitive results and then to the operator proceeding to test the previously drilled TO-13 well.”

——

Remain positive !

Https://www.upstreamonline.com/exploration/totalenergies-wildcat-plan-for-south-africa-heads-to-court/2-1-1618312

Ed

Thank you for posting. I really enjoy reading your posts just like many many others on here by the look of it.

Corcel still keep (re)tweeting about Tobias oil “export and transportation” and “highly fractured” and I am sure they would have kept quiet (a low profile) if preliminary results were bad as I’m sure they would know at least something by know unofficially.

N

Daiki

Not sure but sort of what I understood also.

I noticed it first in Upstreamonline in an article on Energean”

“A recent court ruling in Italy, meanwhile, could unlock previously restricted acreage for E&P activities.”

https://www.upstreamonline.com/finance/energean-stock-price-rises-on-big-revenue-and-profit-surge/2-1-1616211

Sort of weakens Italys stance and with the new prime minister Meloni being pro oil and gas this might be the excuse she needs to say sorry and pay up and open up. Who knows

N

Https://www.unlaw.it/en/highlights/the-regional-administrative-court-rejects-the-pitesai-new-perspectives-for-the-oil-gas-sector/

Ed

Thank you SOO much for taking the time to reply.

I did notice in the recent Corcel presentation on page 25 indicates “Tobias Field Appraisal” ongoing until end of Q2. Makes me wonder if we will be drilling an appraisal well now after test?

Ed

I tempted to do a cheeky top up. The only thing holding me back is that as the reservoir has been tapped earlier the gas drive might not be as good as when the initial production started and this the new flowrates would be less excellent. Hopefully we still have efficient waterdrive, and who knows if new oil has replenished the reservoir, as management think, this oil might still be a bit gassey. Anyway the long term drive will always be the water I understand. Submersible pumps might also be an option later?

Any thoughts?

MattC

Give Godders a break please just let him keep moaning for a bit longer. I have some funds coming in soon to by more RKH and honestly don’t mind a bit lower share price:)

N

5+ weeks after RNS stating that testing of TO-14 had formally begun CRCL are adding the recent presentation with nearly 18000 barrels/day from Tobias when producing to Linkedin. Surely our management will already have an idea of the results so far and if not good they surely wouldn’t upload the presentation now would they???

N