Who wouldn't want to be in oilers over this weekend? |
(off topic) Deepsea Bollsta ETA Ghana for Afina-1X DST: 18/Oct
so I guess Chevron's Namibia well will follow? (not other way round as I suggested before) |
Who wouldn't want to be in oilers over this weekend? |
Africa Oil week is on. Whilst Tullow are 'attending', it doesn't look like any of them are presenting in the sessions, nor are we a sponsor this time around. Quite a lot of interesting talks though. ExxonMobil, ENI, Chevron, Equinor, NNPC and Seplat to name some seem heavily engaged. Several sessions on Ghana exploration potential in light of discoveries next door in Cote d'Ivoire. Total Energies keeping a low profile, as I presume Patrick P doesn't like giving away expensively acquired geological insights for free! Anyway the program is here |
Forget the accounting treatment and just count the cash |
 @xxnjr Thank you for clarifying…really bugged me that i could not lay my hands on the charter schedule. Now consider the accounting treatment on Ten which calculates a negative value for the license based on early lease surrender and a large negative book value of US$300m ? from memory. In contrast , a sensible well programme on Ten to exploit the considerable reserves would write back large sums. The issue is more about establishing markets for the gas and condensates in the reserve mix ..and dealing with the antics of the current government in Ghana. My view.. there will be wholesale changes a month after the December 7th ? elections and the inauguration of a new Cabinet. In my opinion, to waste the resource in Ten is madness with all the facilities in place. Having said that I take on board the comments of Kosmos on the prospect inventories for both fields and which provides the best returns. It is important to remember the political pressure as the very generous cost recovery terms would deprive short term revenues for the host nation because of the way “cost” oil and “profit” oil is split. Booty
Please do not rely on the facts or opinions expressed in the above post when making an investment decision. |
Gabon: After about 60 days on location, the Axima rig drilling the Sarafina well has now moved to a new location on the 100% Perenco operated Barbier field. |
@bootycall. Well done. You nailed it! :)
reply from IR
"Morning xx,
That’s right. As we stand the annual net TLW cost of the TEN FPSO lease is c.$130m. In 2027 this drops to c.50% of that, then continues to tail off to licence expiry in 2036.
Regards
Matthew" |
https://www.fxempire.com/forecasts/article/oil-natural-gas-us-dollar-technical-analysis-in-the-face-of-geopolitical-uncertainty-1466796 |
https://www.fxempire.com/forecasts/article/oil-natural-gas-us-dollar-technical-analysis-in-the-face-of-geopolitical-uncertainty-1466796 |
@bootycall. No worries and many thanks for that. That explains it. I had mistakenly assumed potential lease savings would start in 2025, but as you say, it seems end of 10 yr fixed term is sometime 2027, which probably explains why Rahul (to my knowledge) hasn't flagged up an exact number yet. Anyway I'll do as you suggest and post any reply received from IR here. |
I can smell the oil bears burning everywhere. "We will go lower than $60" they all screamed unanimously. Now they'll be covering shorts till $80, just when it will be time to close long and go short. |
https://oilprice.com/Latest-Energy-News/World-News/Oil-Prices-Flat-as-Traders-Await-Developments-in-the-Iran-Israel-Conflict.html |
https://oilprice.com/Latest-Energy-News/World-News/Oil-Prices-Flat-as-Traders-Await-Developments-in-the-Iran-Israel-Conflict.html |
Good News Waldron hope its Offshore Nigeria.
A surprise last week
Nigeria: Exxon plans $10 billion oil investment in Nigeria
30 Sep 2024 |
@xxnjr. Apologies, i have not been able to find the schedule for the MODEC FPSO used at Ten. I roughly remember that rates peaked in the tenth year at $130m and then fell to approx $80m either the next year or the year after. I believe the field commenced production mid 2016 ? so need to check the official date for the commencement of the charter . I think the original information came either from either a bond prospectus or maybe the credit presentation linked to it … Whatever I say you are probably going to be a little dubious at the claims of a poster on an anonymous website…so why don't you give IR a call. If it was previously disclosed they shouldn’t have a problem confirming the info. Booty. |
7 Oct '24 - 11:29 - 4418 of 4418
0 0 0
Nigeria
Tullow Oil eyes maiden venture in Niger Delta
After 40 years of prospecting in Africa, the British junior is working behind the scenes to acquire a stake in Nigeria's oil-producing region for the first time in its history. [...]
Published on 07/10/2024 at 04:40 GMT |
https://www.africaintelligence.com/search?sqe=VHVsbG930 |
https://www.africaintelligence.com/search?sqe=VHVsbG930 |
They do have air defence system but no way near as good as heelsrael ones |
Does Iran have a similar incoming missile defence system to Israel? If so, it'll just be another VERY expensive firework display...... |
With that article it's time to sell? I always do opposite of articles advice suggestions. Iran has sanctions on them so their oil refineries won't make a differnce. Hence why the satans are going for it |
https://oilprice.com/Energy/Energy-General/Goldman-Sachs-Sees-20-Upside-to-Oil-Prices-on-Iran-Supply-Shock.html |
Back to 30p |
Brevarthan are just a mickey mouse outfit - a bit like those racing tips 0800 mumbers you used to see in the back of the Daily Sport (so I'm reliably informed!)... |
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