Harbour Energy Share Discussion Threads

[whackford] 30/1/2019 10:16

Thanks Lageraemia. I'm wondering if PMO might sell it to expedite debt repayment and then push on with Sea Lion or maybe something else.

I think another well is due after the current Zama side-track, so maybe PMO will have a more definite view on size of Zama after that.

[lageraemia] 30/1/2019 09:58

Appraised asset in a new part of Mexico with additional prospectivity?

$5 per barrel in the ground - call it 200mmbls with upside.

A BILLION would be in the spread of possibilities on that basis.

How many recoverable barrels are Chevron trying to flog in the north sea for £1.5bn? It can't be much more than 300 mmbls so the valuation would see in the right ballpark.

[whackford] 30/1/2019 09:33

Thanks for that Jelenko. Are there any other opinions from knowledgeable people, please?

[whackford] 30/1/2019 08:53

With a view to debt reduction, what could PMO's share of Zama (P50 is 600mb) be sold for?

25% of 600mb P50 is 150mn. How much for a barrel of P50 yet to be developed?

Any views would be welcome.

[lageraemia] 30/1/2019 08:28

Lee

That's a best case rough calculation based on eventual STOIIP closer to 2bn barrels and a recoverability factor higher than assumed.

Also chucking in another prospect or two on the block.....best case proved up recoverable....

Pre-drill stuff is always a bit over cautious.

[steve73] 30/1/2019 08:12

thanks OR.. works for me..

[oilretire] 30/1/2019 07:58

rationaleee29 Jan '19 - 21:39 - 43252 of 43258
0 0 0
oilretire - Do you have a latest link to that?


Not sure how if this will work, it comes in as a pdf link in an email.

[the guardian] 30/1/2019 07:49

You can say that again!

[asa8] 29/1/2019 21:43

Pmo needs a bid that would focus the mind of marketmakers/shorters it’s the only way you will see some type of value here

[rationaleee] 29/1/2019 21:39

oilretire - Do you have a latest link to that? Most recently it was in the news that Pemex had postponed the drilling on their side of the block from Mar 2019.

lageraemia - Really? "400m recoverable barrels net to PMO in Zama"? What part of the companys communication do you not understand, when they say Zama is well defined on the seismic with a range of 400-800mn gross recoverable? We will be lucky to have anything more than 150mn net!

[lageraemia] 29/1/2019 20:41

Bloomin 'eck - hadn't heard about the drill on the neighbouring block with PEMEX. Thanks oilretire!

I presume that's deeper water given its a drill ship. However, that possibly forms part of appraisal and a step towards unitisation? If so that makes the reserves bookable and possible some/all of the interest sellable sooner than I expected. We count be looking at 400m recoverable barrels net to PMO in Zama. Appraised in a country REALLY keen to get that working for it. $5 per barrel in the ground sale price would net $2bn for Zama at possibly.

With luck, the asset value will be reflected i the share price sooner rather than later......it's starting to look a bit silly:

Market Cap: £574m.....producing >80k boepd.....debt £2bn but PE ratio of <4, Tolmount coming on line in next 18 months and Catcher on plateau until then at least. BIG-P also in development, possibly Solan workover and now Zama close to an appraised asset and known quantity. Then there's Sealion which is a major quality asset for the medium term.

[manics] 29/1/2019 17:18

Saudi Arabia is determined to restore the balance on the oil market and is cutting deeper than required in the OPEC+ deal, with February crude production likely close to 10.1 million bpd, compared to the 10.3-million-bpd ceiling in the production cut agreement, Saudi Energy Minister Khalid al-Falih told Bloomberg Television

[deanroberthunt] 29/1/2019 16:13

he who loffs last loffs loudest...

[leoneobull] 29/1/2019 14:38

The only issue is the astronomers tax in Mexico

[oilretire] 29/1/2019 13:10

Indeed lager,

According to Edison today there will be two more appraisals on Zama after the sidetrack. Zama 3 and a possible extension next door which spuds in March.


The appraisal of Zama has been underway since December 2018
with the Zama-2 well, which encountered oil as expected and will now be sidetracked up-dip and tested. This will be followed up with Zama-3, which will test the southern part of the field. Meanwhile Pemex is due to spud its Asab-1 appraisal well in March 2019 with the Tiger-1 drillship, which will test the extent to which Zama extends into its adjacent block.

[stansmith3] 29/1/2019 10:48

onedb please listen to whiskeyafter all you did start this because i said pmo was a better bet than enquest

[whiskeyinthejar] 29/1/2019 10:46

Getting in the last reply in an argument doesn't mean you've won, it means you are five. Grow up ffs.