Arrow Exploration Share Discussion Threads

[buffythebuffoon] 11/3/2024 09:17

I think it’s fair to say RR that you have fallen in love with your investment in AXL! 😂

Buffy

[rockyride] 10/3/2024 10:17

Super-excited to see the new report which is due out before the end of March and I think we will move through our current 52 week high of 26.25p which was set last May / June. I know Arrow have to draw a line in the sand as to when the new reserves are calculated which based on 31/12/2023 but it's a shame we can not count the 2 wells drilled to date in 2024 - especially CN5.Tick tock

[mount teide] 09/3/2024 13:50

Ecopetrol - The Colombian National O&G Company: 'posted a 2023 Q4 net profit of just over $1.07 billion, down 38% from the previous year. This was largely due to the reduced market price of crude, down by $17 a barrel. Nevertheless, Ecopetrol plans to invest up to $6.8 billion in 2024 “to maintain the historic levels of execution that we reached in 2023, with an emphasis in the energy transition,” according to the company’s CEO Ricardo Roa.

Ecopetrol experienced its highest output in eight years in 2023, with an average production of 737,000 barrels of oil equivalent per day, which was 3.8% higher than in 2022. This success was largely owing to successful production rates from its stake in the U.S. Permian Basin. The company’s refineries also reached their highest-ever processing rate, at 420,000 bpd.

Ecopetrol’s reserves stood at around 1.88 billion barrels in 2023, a decrease from 2.07 billion barrels at the end of 2022, which equates to around 7.6 years of production remaining. The company’s reserves are 89% in Colombia and 11% in the U.S. The limited lifespan of its existing reserves demonstrates the need to invest in exploration activities if the company hopes to continue to produce oil and gas in the coming decades, which is likely the case.

While Ecopetrol is investing in alternative energy operations, it is unlikely that Colombia will be able to replace fossil fuels with renewable alternatives at the rate needed to meet demand, although positive steps are being made towards a green transition across the country.....

....At the end of 2023, despite high commodity prices and oil output, a BN Americas report showed that rig numbers had decreased to the lowest number since the beginning of 2021, during the Covid pandemic. Meanwhile, private-sector exploration investments were expected to fall by 33% in 2023, to roughly $300 million.

The lower levels of investment were blamed on President Petro’s anti-oil rhetoric, as he talked of a future rooted in renewable energy.'

Source: Felicity Bradstock - a freelance writer specialising in Energy and Finance.


Colombia / Drilling Rigs - The price drop and increased availability of rigs from the collapse in onshore drilling during 2023 is playing perfectly into the hands of independents like Arrow and Parex Resources, who against the trend, elected to greatly increase their production development and exploration drilling programmes.

AIMHO/DYOR

[upwego] 08/3/2024 17:24

Had to buy £10k at best it got filled at just gone 4.30pm. Look forward to the reat of the year now i have a healthy amount.

[krall] 07/3/2024 18:03

From Geopark´s webcast Q&A today -

Then on the horizontal well at Llanos 34, how are things at the moment? Is it tracking performance better than expected, it'd be also curious to have a view of you given it's quite important for production. And then two perhaps simple accounting question. I saw in the account that there was an impairment I think, of $13 million, $13 million. I wonder what is that, maybe Chile, maybe not.

And there was also a write-off of $8 million for exploration. Also, I don't think there was any exploration negative results in Q4. So I was wondering what that was about.

Unidentified Company Representative

Hi, Stephane, this is Terrado. So I'm going to take the horizontal wells question. So far, we have already drilled seven horizontals in Llanos 34 in the Mirador formation in the Tigana field. So horizontal wells represents more than 20% of the production of Llanos 34. So it's around 10,500 barrels of oil per day.

Currently, we are drilling the first horizontal well in the Jacana field in the Mirador formation. So looking forward, we will continue with the horizontal well drilling campaign mainly in the Mirador formation, and we also have a well-planned in the Guadalupe formation. So one line, we will be drilling between five to seven more wells this year. And in parallel, we'll continue looking for ways to optimize drilling and completion costs.

Since the first well, we improved drilling and completion time by 30% and cost by 40%.

[lexion] 07/3/2024 12:54

Just bought another 31k shares - had to pay 24.25 but will look cheap in June when we will hopefully have first Hz results !!GLA

[rockyride] 07/3/2024 11:48

MT - one of the best 81 seconds I've listened to and a couple of bits he says:-We're excited about the new reservesHZ wells capable of very high ratesI can see the 52 week high being smashed when we get the new reserves report later this month

[royalalbert] 06/3/2024 20:08

Super bullish isn't he.

[royalalbert] 06/3/2024 16:24

Oil through $84, every little helps.

[rockyride] 06/3/2024 15:47

Hi xxxxxWe expect the reserves report will be out before the end of the month.Are there any peeps on here who could post as to what a strong 2P might look like? Remember it will only cover wells drilled up to December 2023. Super excited to see the next one in 12 months time.

[buffythebuffoon] 06/3/2024 14:52

That’s a coincidence TTB. I was watching a documentary on Forrest Gump. The Mekong Delta in the film was filmed in and around South Carolina.

As for Tulips I loved the story of a sailor who was so hungry that he stole what he thought was an onion and ate it. It turned out to be a rare Semper Augustus tulip bulb, an expensive tulip bulb at the height of the mania.

Buffy

[taurusthebear] 06/3/2024 14:20

Buffy, I hate tours and package tours. I've only been on two, that I can remember, in my life. One was through the Mekong Delta, from Saigon to Phnom Penh, and the other was by bus to the Dutch bulbfields of Keukenhof (before budget airlines appeared). I'm embarrassed to say that I enjoyed both, even before I are some tulips. :0)

[buffythebuffoon] 06/3/2024 12:15

Whoever just voted me down, are you prepared to give a reason? You may well be justified, particularly if you are of the school that no comments other than those directly pertaining to the company is discussed during market hours. I’m interested, honestly.

If you are not prepared to come out of the closet then I’ll understand. You’ll be one of those people who are either unhappy in life or you have fallen in love with AXL and want nobody but cheerleaders posting on the board.

Buffy

[11_percent] 06/3/2024 10:59

"Corporate production will be updated each quarter with financial information."

Not monthly.....now quarterly....but do say with production number.

================

RR, where are you getting this data.....what happened last evening??

[rockyride] 06/3/2024 10:30

A few snippets from yesterday evening:-No concerns with CN5, completion in progress.OP3 and OP4 will not be on production in Q1 as we are focusing on the CN field.Corporate production will be updated each quarter with financial information.We expect to spud the first HZ well in April.

[buffythebuffoon] 06/3/2024 09:15

I know where you’re coming from TTB, but if the contents went up 60% would you be that crazy?

I’ve never been an advocate for momentum investing myself as it is by definition a short term trader strategy and I’m a LTBH investor, sometimes longer than I’d intended, but I do know someone who makes money consistently that way, but I think he’s not got it quite right as he can’t invest meaningful sums, and ends up relaxing his criteria to find something to invest in.

LTBH is as far as I know the only consistently successful strategy.

EDIT

TTB Have you ever tasted a tulip bulb?

Buffy

[taurusthebear] 06/3/2024 01:02

Buying just because others have is akin to following sheep off a cliff. Rushing to the shops to buy something that has just gone up 40 per cent would be considered utter madness.

And people wonder what causes bubbles...

[rockyride] 05/3/2024 11:55

Added 50k while the share price takes a little breather. Not many top ups left for me now.

[royalalbert] 05/3/2024 11:23

That monthly update will come before the 14th I presume.

[evelok] 05/3/2024 10:58

New company policy (like it or not) is to not RNS every "minor" update. My guess is reserves update with an operational update mid-late March.

[eaglehaslanded] 05/3/2024 10:53

H2CN-5 is probably producing, I asked Joe about it but he wrote they will address the results in a future RNS, this probably mean the monthly update as they now don't RNS every well results as far as I have understood.

[henley2] 05/3/2024 07:23

So is the CN5 well now on production or not?
Last MA interview said would be on production 8 days ago and we haven’t heard anything since!

[rckillco1] 04/3/2024 18:35

Haywood, interesting! They must have put a release out on it...very credible company.