Falkland O&G Share Discussion Threads

[moneymunch] 07/8/2015 13:40

or a black spot in his hand??? gl ;-)

[ngms27] 07/8/2015 13:32

Does anyone know who one legged Pete is?
Does he have a hump on his back as well?

[the black spanner] 07/8/2015 13:31

This drill is a costly distraction and there's plenty to be getting on with elsewhere that will add value to each company rather than create another 10 year hole in finances that none of them can afford in the present climate.
They'll do what they have to do here then start appraisals again asap imo.

[thorpematt] 07/8/2015 13:00

Yes, I would say that if there are no indications of well control problem, a successful drill at one level would continue to lower sequences if lower prospects are prognosed. OnlyIf no lower prospects are indicated below target you would NOT continue.

Sealion when initially drilled was no where near as advanced from a survey perspective as it is now and the understanding of the F3 sands was only later able to indicate other locations where a good discovery was likely. Indeed only recently has the first really promising location at F3 been drilled (a success BTW).

Noble will drill to all depths prognosed IMO. Yes if there is well control problems thing may change, but believe me if an oil discovery is made in one reservoir the opportunity to penetrate another would be taken - since oil generation has been proven in the locale and therefore other prospects would become de-risked.

[moneymunch] 07/8/2015 12:54

I'm in....gla ;-)

[efagie] 07/8/2015 12:50

only an assumption fadilz, took several days up north but given the extra depths involved at humpback i allowed more, could be a bit shorter or longer. If memory serves on average it was to 7 to 10 days to do the wireline logging and plugging sections up north, so with the given humpback depths, it again takes longer to do at humpback, though that would depend somewhat on sand depths and soforth. imo of course, so likely wrong.

[fadilz] 07/8/2015 12:04

original estimate was 65 days from 13th of June -> 17 Aug.

I believe they build in 30% contingency, which is about what we appear to have lost in downtime.

So I believe 17th of thereabouts is still about right. I think efagie you said about 14 days for logging, which means that they must have some indications around now.

I would not trust any share price spike pre news, though. Always happens: price rises, someone must know something (probably not), then collapse again.

Early news = bad news, IMO.

F

[efagie] 07/8/2015 11:32

agna.

Sorry! for me goldie is wrong regards sealion and the mudloss & f3 sequence. Sealions target depth was to 2700m it actually went too 2744m. the f3 sand was not targeted because of the way that area is situated regards the geological rock formation and the 3d shows little if any sort of f3 sand that may be able to produce oils. it was more to finances and costs, as going deeper would likely be a waste of monies for no return.

Just below sealion in the desire block, shows are totally different, as with the drill positions from phipps and desire, another missed opportunity.

[agnabeya] 07/8/2015 11:04

A very interesting collection of articles.
You can sign up free to read 5 articles a month.
The FT is worth it for any spam you might get.
It's a better quality of Spam...:D

[agnabeya] 07/8/2015 10:13

Efagie,
The Crown and Anchor it is then! Literally my old home...:)

[agnabeya] 07/8/2015 10:10

hxxp://www.wkrb13.com/markets/705826/premier-oil-plc-receives-gbx-224-43-consensus-pt-from-brokerages-lonpmo/

Goldie, thanks for that. I wasn't aware of any mudloss issues this time.
I just expected them to go as far as they could once TD had been reached on Diomeda as they'll be P&A at the end of it anyway.

We knew at the outset it would be a lengthy one. I'm just curious as to what caused the apparent delays.

[robpuguk] 07/8/2015 10:05

There were two weeks of no drilling so it'll be longer yet...

[ngms27] 07/8/2015 09:05

RXP have been going for 18 months on one drill so chillax ;)

[trulyscrumptious] 07/8/2015 09:00

Soon be two months since they started this drill. Are they planning to drill through the earth's crust?

[spacecake] 06/8/2015 22:42

Thanks Thorpematt, don't have a position here and best of luck for those who do.

[thorpematt] 06/8/2015 21:50

Spacecake
FOGL have grouped their map into complexes. Diomedea is one. They like to use names of sea creature presumably to make them sound enviro. friendly.

Mid Cretaceous sands on the edge of the Fitzroy Basin. These sands have been re-deposited in the Diomedea area as deep-water channels and fans. A large 3D seismic survey was acquired in 2012/13 to explore this play.

Humpback was graded highest as potential.Several additional prospects have also been mapped and these could provide follow-on opportunities in the event that initial drilling results are encouraging.

Regional studies undertaken by Noble Energy and FOGL suggest that the source rocks within the Diomedea area may be conducive to oil generation.

More info is in the pdf:-

[efagie] 06/8/2015 21:37

agna, The Pacific Legend will be docking at Aberdeen tomorrow, so you have permission for a good ole pub crawl. ;)

[efagie] 06/8/2015 21:26

agna, the nobles presentation,

Upcoming Impactful Exploration Results
Offshore Cameroon and Falkland Islands in 3Q.

[goldieshotz] 06/8/2015 20:31

If they find something worth reaching td early for they will. Why keep going with the drill into a deeper play which could lose you the well with mud loss issues etc. its the reason why rkh drilled sea lion and stopped, they could of continued onto the f3 sequence years ago but they didnt. Why? Because why risk losing the hole.

[spacecake] 06/8/2015 19:04

Diomedea Fan Complex - what is it ?
FOGL glossary don't define it.

Diomedea is an albatross - but what's that got to do with geology ?

Searched on google and only references to FOGL seem to come up, unless its a fan complex of carboniferous wandering albatrosses.

[agnabeya] 06/8/2015 13:01

Goldie, don't they plan to test the lower play anyway? I'd have thought it made sense to while they are there.



O/T...
Anyone watching the test match? WTF JUST HAPPENNED.????

[robpuguk] 06/8/2015 11:10

I reckon by end of august - fingers crossed!