Equator Exploration Share Discussion Threads

[lagos40] 15/10/2017 18:24

Kosmos EnergyCEO: Beyond Mauritania/Senegal, our exploration portfolio is rich in opportunity, with prospects being matured for drilling in 2018 & 2019CEO: 3D seismic survey offshore Sao Tome is largest in Kosmos history & nearly complete. Pending review of the data, we could drill in 2019CFO Tom Chambers: Combing our low cost assets w/ rigorous capital discipline means we can thrive in $50/bbl worldCFO: We exited 2Q17 with $1.2 billion in total liquidity

[geordieduke2] 13/10/2017 09:50

Is 10+ years moving at pace? Before/if drilling starts could be another 10 years. Who are we supposed to be putting our faith in here, MrK, Dimmock, Pade?

[wantmorethan24p] 12/10/2017 18:58

at least we are not in afren

[wantmorethan24p] 10/10/2017 18:01

a re listing would be nice before the drilling starts.

[wantmorethan24p] 10/10/2017 16:34

at least opl 321 and 323 are moving at pace.

[wantmorethan24p] 10/10/2017 15:55

cheers mr k

[gussie14] 10/10/2017 13:08

Glad you are feeling better Mr K.
Hope you will get the tonic from EEL you
deserve from all your hard work.

[jpjhmercerhouse] 10/10/2017 07:18

Cheers mr k , Glad your back and wishing you well, Keeping the faith :-)kind regards Paul

[jeaniehow] 09/10/2017 22:18

Good to hear from you Mr K and that you're keeping well.

[moormoney] 09/10/2017 21:48

Glad you’re feeling better Mr K, let’s hope the end of the saga is in sight!

[smart solution] 09/10/2017 20:48

Good to hear you are well Mr K and thanks for the update.

Very encouraging.

[mrkeysersoze] 09/10/2017 20:10

Hi Guys,

Thanks for the kind words wishing me well, much appreciated....

Right, back to Equator business, of which there have been more than a few interesting developments, some of which SPP has brought you all up to speed with, some he hasn't...

The EEZ is beginning to attract a level of interest, which will only further increase the value of Equators blocks 5 & 12....

Kosmos currently have interests in blocks 5,6,11 & 12 and are currently looking at blocks 10 & 13 with BP after completing their biggest ever 3D Seismic acquisition....Galp initially only had an interest in block 6 which they have further increased to a 20% stake in blocks 5,11 & 12

A number of 3rd parties are currently showing interest in Equators EEZ assets... & possibly OPL 321 & 323.....

Equator after many years of being in a corporate coma, is slowly starting to move forward, and with the transparency of the likes of Mid and Major Oil Co's in Kosmos, Galp & the possibility of BP being our neighbors.

Whilst this update has focused primarily on the EEZ, as I currently understand progress on OPL 321 & 323 is gathering significant pace....

Please see below links.

Regards,

Mr K.

São Tomé and Príncipe launches public tender for oil prospecting
4 October 2017
| São Tomé and Príncipe

São Tomé and Príncipe̵7;s National Petroleum Agency (ANP) has launched a public tender to receive expressions of interest in oil prospecting blocks 10 and 13 of the Exclusive Economic Zone, according to an official statement.

The decision to launch a tender was based on the interest shown by the consortium made up of US company Kosmos Energy and BP to prospect in those two blocks, “under the framework law of oil operations,” said the chief executive of the ANP, Orlando Sousa Pontes, in a statement sent to Macauhub in São Tomé.

“The National Petroleum Agency, following the request submitted by the British Petroleum and Kosmos Energy consortium, invites companies or consortia eligible to express their interest in the areas corresponding to blocks 10 and 13 of the São Tomé and Príncipe Exclusive Economic Zone, under the terms of the framework law on oil operations,” the statement said.

This joint interest comes four weeks after oil company Kosmos Energy announced the completion of seismic research in four oil blocks – 5, 6, 11 and 12 – of the São Tomé and Príncipe EEZ under a production sharing agreement.

hxxps://macauhub.com.mo/2017/10/04/pt-sao-tome-e-principe-abre-concurso-publico-para-prospeccao-de-petroleo/

Kosmos Energy conducting seismic research in São Tomé and Príncipe
1 September 2017
| São Tomé and Príncipe

The American oil company Kosmos Energy has spent nearly US$36 million conducting seismic research to detect eventual petroleum deposits in four blocs of the exclusive economic zone of São Tomé and Príncipe, the company’s CEO announced on Wednesday in São Tomé.

After announcing the conclusion of seismic research begun last February, Andy Inglis said that the process of analysing and interpreting the data collected in the four blocs should take about nine months.

“If the results are good, we believe that in 2019 we can begin the next phase, which is drilling,” said the CEO of Kosmos, the company which acts as operator in blocs 5, 11 and 12. The operator in bloc 6 is Portugal’s Galp Energia group.

Inglis, who was received in audience by the São Toméan prime minister on Wednesday, explained that the company had respected current environmental rules in the country and fulfilled the social obligations derived from the production-sharing contracts with the National Petroleum Agency.

Besides the exclusive zone, the island country has another area jointly shared with Nigeria, based on a treaty signed in 2001 which assigns 60 percent of the revenue to the Nigeria and 40 percent to São Tomé and Príncipe. (Macauhub)

hxxps://macauhub.com.mo/2017/09/01/pt-kosmos-energy-efectua-pesquisas-sismicas-em-sao-tome-e-principe/


São Tomé and Príncipe
Galp has been in São Tomé and Príncipe since 2015 through the acquisition of a 45% interest in Block 6, where the Company is the operator. In 2016, Galp expanded its interest with the acquisition of a 20% stake in blocks 5, 11 and 12.

In 2015, Galp reached an agreement with the Government of São Tomé and Príncipe and Kosmos Energy for the award of Block 6, offshore São Tomé and Príncipe. Block 6 is located in the country’s Exclusive Economic Zone in water depths of up to 2,500 m and covers an area of 5,024 km2.


Galp is the operator in Block 6, with a 45% stake, together with Kosmos Energy and the National Petroleum Agency (ANP), on behalf of the government, with a 45% and 10% stake, respectively.


The Block 6 is located in an underexplored area but with high potential, as it is close to proven oil provinces.



In November 2016, a Galp acquired a 20% participation in blocks 5, 11 and 12 to Kosmos Energy (Kosmos), which is the operator of those areas.


In block 5, the consortium also includes Kosmos, with a stake of 45%, together with Equator, with 20%, and ANP, with 15%. In block 11, Kosmos operates with a participating interest of 65%, with ANP holding the remaining 15%. Concerning block 12, Kosmos holds 45% while Equator and ANP hold, respectively, 22.5% e 12.5%.


In 2017, 3D seismic acquisition started covering all blocks in an area of 16 mil km2.




hxxp://www.galpenergia.com/EN/agalpenergia/Os-nossos-negocios/Presenca-no-mundo/Paginas/SaoTomeandPrincipe.aspx





CGG completes frontier 3D seismic shoot off Sao Tome

Iain Esau

13 Sep 2017 16:16 GMT

Paris-based CGG has completed a huge 3D seismic data shoot over four frontier blocks located east of Sao Tome & Principe that are operated by Lisbon-based Galp Energia and US player Kosmos Energy, writes Iain Esau.
Joao Casacao, a petroleum geologist at Galp, said the “last shot” of the 16,000 square kilometre survey took place on 20 August.
CGG’s Oceanic Endeavour vessel began the survey work in February this year.
Speaking at the PESGB/HGS Africa E&P event last week, Casacao said with the new 3D data “we expect we can really assess the full prospectivity” of a play that Galp has named the Sao Tome & Principe basin.
Industry has shown little interest in exploring this area which is sandwiched between Sao Tome & Principe, north Gabon and southern Equatorial Guinea.
This is due to a widespread belief that the Sao Tome & Principe basin sits on top of oceanic crust, has a “cold thermal regime” and therefore has no source rock. Or, if it has source rock, it is not mature.
However, Galp and Kosmos are trying to challenge these suppositions.
Casacao remarked that recent studies indicate the basin is “warmer than expected,” has “thick sediment” and “source rock… should be mature”.
Recent analysis of oil seeps on each of the two islands predicts that Upper Cretaceous marine source rocks should be oil mature and that reservoirs exist of the same age.
Of the four blocks, Galp operates block 6 while Kosmos operates blocks 5, 11 and 12.

[wantmorethan24p] 09/10/2017 18:04

looking good for EEL for once.

[exile] 08/10/2017 10:23

"Oando also noted that Ansbury, “the petitioner is not a shareholder of the company, but a shareholder in a company domiciled in a jurisdiction outside Nigeria which in turn holds shares in a Nigerian investment company that is a shareholder in Oando”."

Stretching ones imagination to the limits could it not be impossible that the $ 80 million is part of the Peak money that has gone around in a semi circle and appeared as a loan?

Mr Francesco Cuzzocrea, Ansbury's representative, had sat on the Oando board from July 25, 2013, to February 19, 2016, and approved the accounts and books. A senior executive of Oando who preffered not to be named said..
“So all this is an attempt to rubbish and blackmail Oando to buyout Ansbury’s shareholders because they are under financial pressure."

I should imagine that Francescos Nuke has a few more Terajoules of explosive yield than ours but we are under more financial pressure. I wonder what Francesco knows about our situation?

[geordieduke2] 07/10/2017 22:53

Who to trust then Tinubu or Ansbury? Probably neither.
Might be worth approaching Ansbury to see if he wants EEL shares.

[wantmorethan24p] 07/10/2017 17:48

they are a cash cow.

[wantmorethan24p] 07/10/2017 17:47

they have paid back $600m

[geordieduke2] 07/10/2017 12:48

wantmorethan24p4 64574 of 64578
i think we will re list.but on what exchange.

Do they have an exchange in Narnia? I take it that following the news on these people you trust so much that there will be an update on the make-believe share price? It must be wonderful to be oblivious to this cesspit. might be an idea to at least have a plan B in place by the time the inevitable and harsh truth finally hits home. the only way you would have got something out of this would have been to get into the SLG inner circle and help keep the lid on the cesspit.

[exile] 07/10/2017 09:04

"Opening up on Oando’s indebtedness, the company source said the company borrowed $900 million from the banks to acquire the oil and gas assets of ConocoPhillips, of which $600 million had been repaid to the lenders.

“In addition to the reduction of the loans associated with the ConocoPhillips acquisition, we have reduced our total indebtedness to the banks from $2.5 billion to $600 million in two and a half years."
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$ 2.5 Billion down to $ 600 million in 30 months !! Lets try and look on the bright side, they have a cash flow in the hundreds of millions.

[whowants2bamilionare] 06/10/2017 21:44

hxxp://sunnewsonline.com/court-orders-seizure-of-oandos-oil-rigs-over-n4-7bn-debt/

— 24th August 2017

A Federal High Court sitting in Port Harcourt, Rivers State, has ordered the arrest and detention of three crude oil drilling rigs belonging to Oando Energy Services Limited (also known as OES Energy Services Limited) over debts of $15,399,524.84 (equivalent of N4.7 billion) and N14,169,164.80.
The arrest and detention order for the three drilling rigs named OES Teamwork, OES Integrity and OES Passion was made by the court’s Vacation Judge, Justice J. K. Omotosho on August 17, 2017.
The court order was made consequent upon suit number FHC/PH/CS/102/2017 filed by oil and gas logistics services firm, INTELS Nigeria Limited against the three drilling rigs as 1st to 3rd Defendants; Oando Energy Services Limited, Oando Marketing Plc and Oando Plc as 4th to 6th Defendants respectively.
The court ordered the three drilling rigs, moored at the Federal Ocean Terminal (FOT), Onne Port Complex in Onne, Rivers State, to be detained pending the provision of a sufficient and acceptable bank guarantee from either the United Bank for Africa Plc (UBA), Guaranty Trust Bank Plc (GTB), Zenith Bank Plc (ZBN) or First Bank of Nigeria Plc (FBN) by the defendants to cover the debt of $15,399,524.84 and N14,169,164.80.
The amount is owed by Oando Energy Services Limited for general port and facilities services provided at the port for the three rigs over an extended period of time.
Justice Omotosho fixed further hearing in the matter for August 30, 2017.