Elliot must have been on the line. Still doing 500km loops but velocity now 1.5 knts, not 15 knts. Saves fuel for costcutter BP! |
Nothing on that. Sorry I can't find the link but it was a Sparebank energy conference on small W.Afr producers like Panoro, Eco etc. |
Interesting in many ways. Just listening now.
Did Eco say much about the farm down in the Walvis? |
AOC recording now available. Sorry to see Pascal leave as a result of BTG Pactual consolidation. He's been great. Maybe the new CFO is from BTG (hope so, they are really smart)? I know, as when bumming around Brazil, I taught one of the three founding Pactual partners some english. Well actually he taught me english, as Brazil is very strong on grammar whereas we english know next to nothing about the subject. Back to AOC. RT came over very well this time. The whole audio only recording of the presentation was very polished. It's all about cash on the balance sheet, cash returns of $25m/qtr and more cash. Should support the stock price. Namibia? Basically we are a junior partner and are totally subservient to Patrick P these days (thats a good thing). I was listening to the chap from ECO the other day. According to him, Total's mission is to dominate the orange basin. |
Uh-oh! After 200kms of steaming north the LNG tanker is doing a u-turn in a very Bp like way! So much for KOS & BP making similar statements, such as
"The first LNG cargo is expected later this quarter, with an LNG tanker currently standing by the Hub Terminal ready for loading." After standing by it was alongside for 3 days then departed.....
Only, one presumes to return again. Well it is Bp! |
Most of the trading happens on NYSE. Hence the low liquidity in UK.
I suggest you hurry up with the buying. As looks like good news, stressing "looks like" but it may account for the recent flurry of buys just now! The LNG vessel has just departed GTA-Gimi
so it "looks like" the first cargo is on it's way!!!!
If so - that is a major milestone/achievement :)
Vessel is "British Sponsor" by the way. Will confirm if and when vessel destination is updated. |
Thanks guys - started buying today, but appears very illiquid... |
KOS have been somewhat shafted by severe delays and cost overruns on BP operated GTA. Ditto in Ghana by Tullow operated Jubilee/TEN although it's not yet clear is Ghana is operator issues or actual shortcomings of the fields themselves. As a result
"Kosmos exited the fourth quarter of 2024 with approximately $2.8 billion of total long-term debt and approximately $2.7 billion of net debt"
which is a lot of debt. OTOH annual CAPEX going forwards is reducing by 50% from $800 to $400m (assuming GTA facilities work ok!) so with a bit (actually quite a lot) of luck the debt should reduce going forwards. One +VE if you could call it that is that interest on the bonds is nowhere near the crippling levels Tullow have been paying (from Memory). Even so - will KOS need to sell some assets to reduce debt? Not on the radar now, but you never know! |
Might be, beaten down cos of the financials and that should be turning round in teh coming year with minimal capex and extra income. After that who knows. they're now talking about phase 1 plus not phase 2 at gta and drilling only to keep ghana going and some expro in gulf of mexico. Could be good when the next results come out or the interims. Strategy seems a bit wooly now though |
KOS seems good value at these levels.
Anyone have a view? |
They aren't on the same page!
GTA ph1 BP 56% net w/int = >50K mboepd
KOS 27% net w/int = >24K mboepd
Gross Production = >90K mboepd, or 540,000 mmscfd
So there's some de-bottlenecking assumed by BP over KOS 400 mmscfd?
GTA ph 2+ is described as a "Potential Future Major Project".
Not exactly top of the pile but same size as ph1 |
Yes Kosmos seem to have lost their way.
I meant it might be an idea for Kosmos to message BP and ask if they're interested in a second phase and all that. Thought they might want to find out, just out of curiosity. |
Man overboard at BP later today?
Ditto for KOS due to SP? |
In my experience KOS IR don't reply..... |
We'll have to see if BP are fully on board????? Might be an idea to message them and ask. |
Interesting indeed. Where is the sweet spot in the basin? It's all looking very confusing at the moment. Good news for Sintana though. |
Yep - their hit rate is very good. You need a bit of luck (as well as expertise) and it looks like luck is on their side. |
One thing for sure - GALP have really dialled-in the seismic and other survey work to keep on delivering great results like this.Cash |
xxnjr,It could be. I would like them to appraise the area Inbetween AVO-1 and AVO-10. Would be good to get an idea of how far both extend towards each.So, the second hub GALP were talking about on their earnings call, must be this AVO-10 & 13 area (plus the deeper sand, confirmed as light oil bearing).Cash |
The "X" (rather than "A") indicates this is primarily a new prospect on the same structure? Whatever - Upstream seem to be getting excited in an upstreamly like way! |
I was thinking that. The structure just keeps on delivering.18km stepout!Cash |
Sounds promising! "Mopane-3X, located at an 18 km distance from the first Mopane-1X well, targeted two stacked prospects, AVO-10 & AVO-13, and a deeper sand, in the southeast region of the Mopane complex, at c.1,200 m water depth.
Preliminary data confirm light oil and gas-condensate significant columns across AVO-10, and light oil columns on AVO-13 and on the deeper sand, in high-quality sandstones.
The reservoirs log measures confirm good porosities, high pressures and high permeabilities. Initial fluid samples show low oil viscosity and minimum CO2 and H2S concentrations. Samples were sent for lab testing...." |
Mopane 3X - Discovery confirmed!hTtps://www.galp.com/corp/en/investors/publications-and-announcements/investor-announcements/investor-announcement/id/1591/mopane-3x-well-confirming-new-exploration-discovery |
Next Phase(1+)
We'll have to see if BP are fully on board but there's apparently scope to de-bottleneck the FPSO and double throughput from 400 to 800 mmscfd with some of the extra possibly supplying local market in 2030. |
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