The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Tullow Oil made a long-awaited discovery marking the first find beyond Stabroek block. In 2019, Tullow Oil and partners
have announced a discovery in the Jethro well and proved the extension of the petroleum system to outside the Stabroek block. Jethro is a huge boost for Tullow's exploration-led strategy. Jethro provides further evidence that the Guyana basin is a world-class petroleum province with multiple play types that hold commercially-viable volumes.
Tullow Oil: the company made a long-awaited discovery in 2019, marking the first find in Guyana beyond
ExxonMobil's Stabroek block. We estimate 150 mmbbl of oil discovered in Jethro. Jethro is a huge boost for Tullow`s
exploration-led strategy, after a few disappointing results outside Guyana. Tullow and Eco Atlantic acquired the
Orinduik licence in January 2016. The shallow water block lies to the west of the Liza discovery. During the first four
years, the partners committed to conducting 2D and 3D seismic surveys over the block. Tullow also has a nonoperated
stake in Repsol's Kanuku block.
Orinduik: Tullow (60%) and Eco Atlantic (40%) acquired the Orinduik licence in January 2016. The shallow water
block lies to the west of the Liza discovery. During the first four years, the partners committed to conducting 2D and 3D
seismic surveys over the block. In 2019, Total farmed out 10% of its 25% equity in the block to Qatar Petroleum –
subject to government approval. The Jethro discovery was made a few days after that in August 2019. The Joe-1 well
was also spudded in August 2019 and appraisal of Jethro is planned for 2020.
Kanuku: Repsol acquired the licence in May 2013, and subsequently farmed down 30% to Tullow Oil in July. Total
farmed into the block in 2018. Qatar Petroleum farmed into the block in 2019. The current participation is 37.5%
Repsol, 37.5% Tullow, 15% Total and 10% Qatar Petroleum. Repsol and partners spudded a well in September 2019
in the block. The Carapa-1 well will target Cretaceous sandstones in shallow waters.
Outside Stabroek, in August 2019, Tullow hit the mark with the Jethro-1 well. The well discovered volumes above the pre-drill
estimates of 100 mmboe in the Orinduik block. The discovery will potentially be a standalone development. Still in August 2019,
Tullow spud the Joe-1 well in the Orinduik block. Pre-drill estimates are also above 100 mmboe. In September 2019, Repsol
spudded the Carapa-1 well in Kanuku block.
And the world's longest sentence award goes to JAdam. Use a full stop laddie. It's like a comma grenade has gone off! More commas than MATDs got oil, that's for sure.
Called a deramper because we say it as it is. This was always pulling back. The RNS is weak. But those clutching at straws because they refuse to see the reality.
Smart money out on the spike.
Jealous?
I dont take risk?
I was in ECO at 30p. They announced an oil discovery with no flow test.
I'm just saying it's a very nervous RNS, lots of "potentials" worded in there.
Normally a good RNS starts with the words "pleased to announce". It may be good it may be not good. I'm going with the latter that's all.
Well not earth shattering. Thing is, if it was good it would have been announced as an oil discovery. Oil shows appears all the time in P&A wells.
The better than expected comment refers to the porosity, that doesn't mean it will be big upside.
I'll bet £250 to charity, the testing will lead to a non commercial well. All in my opinion.
Hallmark, what are you on about?
Currently 2:40 am in South Carolina, set my alarm just in case. I cant get back to sleep. I open a long SB on Friday at £50pp as well as holding plenty shares. I was going to close out as I thought I was stupid.
Well done all
https://energynow.tt/blog/tullow-completes-jethro-lobe-results-expected-soon
Regardless what happens, at some point this will be 80p, do you think those IIs who soaked up millions of shares at the 80p placing will accept such a loss? Nope, me neither.
Distance doesn't matter, it's a different play.
Well run*
Spike912 looks like no buyers for red deer. Credibility in this compamy is its lethal injection. Nothings changed in 10 years. Every well P&A, everystep a disaster. Why inevest here when there are so many more we run companies?
Excellent find!! So 45km survey required, this looks better and better.
Now this might he something or nothing.
The Pacific Harrier OSV is currently sailing to Jethro "1" its unusual to title a well 1 unless you know you need sequential numbering, such as Liza and Hammerhead.
No doubt it received its sailing orders with Jethro 1 as destination. So who has now numbered it 1? And importantly 1 of ?
Its helpful being updip!
https://www.scribd.com/document/263211488/Tectonostratigraphic-Evolution-of-the-Guyana-Basin
That last 50k reported trade is very interesting indeed. It was a non protected portfolio and a single protected transaction.
N: Non Protected Portfolio - A non-protected portfolio transaction or a fully disclosed portfolio transaction. Normally a transaction of a number of stocks dealt with by one market maker at an agreed discount to the market price.
T: Single - If reporting a single protected transaction. A protected transaction occurs when a large order is going through the market. The buyer (or seller) may wish to keep the order anonymous from the rest of the market as the size of the order could greatly alter the price of the stock.
Looking at the executed price this is a discounted buy (N) and the buyer has a large order to put through under the radar, an iceberg order.
This and the large tsx trades would indicate good news. All in my opinion of course.
Guys, eco drill results due this week. In with Tullow, Totak and Qatar Petroleum.
Agreed, sort off. But we have an obligation under the licence to drill the cretaceous so we need to go as deep as that, regardless of the tertiery. I still have full belief this is a discovery which triggered the QP farm in.
6p is realistic. Not because of this issue, but wider market sentiment. I wonder how long they have actually stopped drilling for. Too much of a coincidence for the suspension and spud on same day. I would imagine they haven't been drilling for a while and try to soften the blow by rolling it into the spud news.