You need to allow for poorer prices for gas per unit of energy though, I think it works out as maybe a third in monetary terms after the BOE conversion - very happy to be corrected on that if someone knows more precise numbers
Yes but let’s say the Co started flowing the 6 well (dry) only from mid December til late January. It’s mid January, let’s say the well is now showing signs of water cut similar to 7z. Should the company update the market now, or at the end of the test?
Agreed on Kumaka, hopefully paired up with Iatuk-D. They are the deepest prospects in terms of reservior and water depth, and are both 600m bbls+ each. The point at which a drilling programme such as that is announced, I think we are a sitting duck at $150m mcap. Both also spill into Stabroek which might bring those partners to the table...
Niox
Cant find the specific resource I am thinking of, but this https://www.goga.gy/sites/default/files/Petroleum%20Geology%20Offshore%20Guyana%20-%20Newell%20Dennison.pdf is a decent illustration of the source, migration direction and play types we have now proven across the basin.
Don't believe the bilge talking this down for Eco - Carapa has proved that lighter, sweeter hydrocarbons migrated as far inshore as as 68 metres water depth, at a depth of 3,290 metres. The gravity and sulpher content fits exactly with Exxon's findings, and Eco are bang in the middle
Hoping that a very knowledgable poster is sued or worse based on a technically sound interpretation of public information (/data/facts) is a little steep, no?
No one said “it’s early coning”, all that was said was it was always a risk, and one explanation of the (perhaps not perfect data) was rate dependent water cut that is inconsistent with perched water.
We find out soon either way. I am underwater here now, like many others have missed the boat on banking profits, so am hoping for some good news but it really makes no sense to stifle well informed debate from knowledgable posters.
Reference https://www.offshoreenergytoday.com/bumi-armadas-fpso-in-worlds-first-molten-sulfur-offload/
https://www.energyvoice.com/oilandgas/north-sea/205645/equinor-looks-to-rosebank-and-bressay-projects-after-mariner/
Equinor would be an excellent replacement for Tullow!
Exxon would not allocate two drillships - in their most active basin - to anything other than top tier development potential. There are probably hundreds of prospects in their block. Hammerhead is rated as fourth best... Jethro + Channel is par with Hammerhead
Carapa is a Liza feeder, Orinduik likely owns the feeder channels to the most of Stabroek. If you think the chance at one appraisal well on Jethro Channel and two exploration wells in the Cretaceous wouldn’t be at the top of any oil co to do list you are a fool. Complete fool
Yes time to add a little sanity back into the debate
Hammerhead is shallower/ more (in the words of Hess CEO) inshore than Jethro Lobe - the maps can prove this https://www.rns-pdf.londonstockexchange.com/rns/9410Q_1-2019-10-23.pdf
And three of of the largest oil companies in the world consider it commercial and worthy of their fourth FPSO
Could be 450m barrels
If Tullow don’t want Orinduik, someone else will. We know ONGC are looking, Repsol need to buy in heavy crude https://www.bloomberg.com/amp/news/articles/2019-11-11/repsol-looks-to-alberta-to-replace-mexican-and-venezuelan-oil
Mariner is low API and lower reservoir temp than Jethro https://www.spe-uk.org/aberdeen/knowledgefiles/SPE_Aberdeen_Mariner-250913-%20Final.pdf
sulper content is a tricky one but I believe the technology does exist