Westmount Energy Share Discussion Threads

[robs12] 18/11/2020 08:07

“We can confirm that Tanager-1, the first well in the Kaieteur Block offshore Guyana, encountered hydrocarbons but based on initial analysis it does not appear to be economic on a standalone basis,” Janelle Persaud, ExxonMobil Guyana Public and Government Affairs Advisor said.

hxxps://oilnow.gy/featured/exxonmobil-plans-to-evaluate-tanager-1-well-data-continue-search-for-hydrocarbons/

[xxnjr] 18/11/2020 00:28

Generally speaking only successful Guyana exploration wells gets announced from Exxon or Hess. Maybe there will be an analyst asking a Q on Hess's Q4 call.

[mick] 17/11/2020 20:52

Any announcements yet from Exxon or Hess? It would be interesting to hear that their angle is.

[myfriendsharer] 17/11/2020 18:10

For DeGolyer read NSAI

[myfriendsharer] 17/11/2020 18:04

It's a bit of an odd RNS. Has anyone seen the original one from Ratio Petroleum ?An optimists interpretation might say RNS states that Tanager-1 is 'CURRENTLY considered to be non-commercial as a standalone development'. The RNS does not state heavy oil it states heavier oil than Lizzy in the Maastrichtian. For the Santonian and Turonian "interpretation of the reservoir fluids is reported to be equivocal at this stage" i.e. at present it is not known for sure whether the reservoir fluids are oil, water, gas or condensate. Perhaps there are conflicting interpretations and other reasons for not releasing further information.The 72% Geological Chance of Success related to finding at least one reservoir out of 10, as the DeGolyer report states.Onwards and upwards!

[plunger2] 17/11/2020 11:29

Worth remembering:

[xxnjr] 17/11/2020 08:29

Small scale selling started yesterday. Bit of a minor leak perhaps.
Think the 72% was perhaps misunderstood as "aggregated" over 3 intervals; i.e it was more like 25% per zone. Ratio Petroleum currently off 55%.

[plunger2] 17/11/2020 08:27

I would have expected an even sharper price drop but with more drilling of bigger prospects coming up soon maybe it will hold here.

WTE has a clever program lined up - the problem here was the dreaded 72% cos. It will have dazzled people and maybe wrongly. It was not the biggest prospect by a long way.

JMHO

[euclid5] 17/11/2020 08:16

so much for the 72% cos !!

[corrientes] 16/11/2020 12:07

It all looks good from here. I am not quite sure why the local press keeps on about Westmount, and how the oilers took advantage of supposed weak and corrupt government of both main parties, a few years back. In fact WTE are a bit player in the scheme of things, though obviously not as far as we're concerned.

Funny how previous dry holes a while back, or funds then provided to the country by oilers never seemed to attract the same amount of criticism as what we're seeing today from some sources. I think politics has a little bit to do with this. LOL.

Guyana has a tiny population, and major oil discoveries here are going to benefit the people enormously.

[xxnjr] 16/11/2020 00:20

Indeed there are..... "A 2018 DeGoyler McNaughton Competent Persons Report on the Canje Block remains unpublished. However, the block is reported by JHI2 to contain more than a dozen prospects in the Canje portion of the Liza play fairway, representing more than 10 billion barrels of prospective recoverable oil resources, with a number of the prospects exhibiting the same DHI (Direct Hydrocarbon Indicator) characteristics as the neighbouring Stabroek discoveries."

[mick] 15/11/2020 20:16

to MYFRIENDSHARER. Thanks, excellent article including the prospect maps. I wonder that the source of the prospect information is? As I understand it, there are more prospects in Canje than shown. Anyway, hopefully we will get news soon from Tanager 1.

[myfriendsharer] 15/11/2020 18:41

There's a good article and map in Geoexpro- "Guyana-Suriname: The hotspot that keeps on giving".

[xxnjr] 14/11/2020 00:28

Heck I'm still waiting for news on Ranger-2. That well finished drilling about a year ago. There's usually a 'cogitating' delay between completion of data gathering and letting the world know what has been found. Hopefully we'll learn something on Tanager in less than 12 months :-)

[mick] 13/11/2020 14:03

Mind you the Marine Administration Department are expecting operations to continue to 30 November. So my guess is no news for another couple of weeks.


MARITIME ADMINISTRATION DEPARTMENT
NOTICE TO MARINERS
No. 068 (2020) Guyana
OFFSHORE GUYANA
Esso Exploration & Production Guyana Ltd (EEPGL) will continue with exploration
drilling operations at the Tanager -1 Well Site within the Kaieteur Block of Guyana
Maritime Zone
This exercise will concluded on November 30, 2020 and incorporate the use of the
undermentioned vessels that would display the international signal for vessels engaged in
such activities;
* MODU Stena Carron

[robs12] 13/11/2020 13:42

The wonders of modern technology eh!!
Let's just hope they're not fishing...
Exciting times.

[xxnjr] 13/11/2020 11:41

Well if everything went as scheduled we should be at TD round about now.



Previous announcements by Ratio Petroleum indicate that the Tanager-1 well has a target total depth of 8,000 metres and will take an estimated 90 days to drill2. In addition, the May 2019 Netherland, Sewell & Associates Inc. ("NSAI") report on the Kaieteur Block describes the Tanager Prospect as a stacked reservoir prospect (Maastrichtian to Turonian reservoir intervals) and assigns a 'Best Estimate' Unrisked Gross (100%) Prospective Oil Resource of 256.2 MMBBLs to the prospect (Low to High Estimates 135.6 MMBBLs to 451.6 MMBBLs), with an aggregate Probability of Geologic Success (POSg) of 72%.

72% is a bit higher than I had in my head but thats aggregated over 3 (or more) stacked targets. Will be interesting to see if they successfully get down to the Turonian without any pressure issues. The rig is currently on location with 3 vessels nearby. One of those could be a routine crew boat calling in but if all 3 are offshore supply ships then that might suggest theres a lot of loading/off-loading going on which might suggest ops are near to completion.

[xxnjr] 13/11/2020 09:20

thanks MFS. also a bit about upcoming wells here. join up the dots = the new more outboard exploration fairway. Apache's 5th Block 58 Suriname well Bonboni, probably spudding March/April 2021 is on the same trend although not shown on the map

Shell made a bit of a clanger when they relinquished their 50% Stabroek holding some years ago. At that time the block included what is now the Canje acreage, so Shell have lost out big time, although they have recently bought Kosmos Energy's 33.3% interest in Suriname Block 42.

[myfriendsharer] 12/11/2020 18:14

It's deepest well for Exxon this year . Video out from Exxon - ExxonMobil Guyana Virtual Energy Tunnel 2020 about 11mins in.Results at Tanager in'very near future'.First well in Canje towards end of year.

[xxnjr] 12/11/2020 12:08

"ExxonMobil is continuing to drill its deepest ever well"

Think they mean deepest water depth? Not deepest ever exxon TVD worldwide? Or maybe they mean deepest well in Guyana? 8000m TVD is pretty deep. In the GOM the deepest paleogene wells have got down to about 11,000m. I'd be surprised if Exxon's deepest ever well worldwide was 8000m TVD. Maybe it is. Anyone know?

[mick] 12/11/2020 09:45

According to Stabroek News today, drilling on Tanager 1 continues. Bulletwood to commence in early 2021. Hopefully, it is a positive sign that drilling(and testing?) continues.

By Marcelle Thomas November 12, 2020

ExxonMobil is continuing to drill its deepest ever well – the Tanager-1- in the controversial offshore Kaieteur Block and says that it will soon add a 5th drill ship and another next year for exploration in the equally contentious Canje Block.

“We continue to utilize four drill ships to drill exploration, appraisal and development wells. There are plans to add a fifth drillship offshore Guyana around the end of 2020 and a sixth in the first half of 2021,” ExxonMobil’s Public Affairs Advisor, Janelle Persaud told Stabroek News in response to a number of questions.

“The Stena Carron is currently drilling our first well, Tanager-1 in the Kaieteur Block. At ~2,900m water depth this is the deepest well drilled offshore Guyana and indeed globally by ExxonMobil. We expect to drill our first well in the Canje Block in early 2021,” she explained.

[corrientes] 09/11/2020 12:20

In other words, it's more of a natural resource investment company than an oiler. That suggest to me anyway, that rather than behaving like you'd expect of a tiny oiler with sudden movements in either direction, this one will remain fairly moribund, but will absolutely rocket if successful, when the analysts do their calculations.

On the other hand, if not successful,the price wouldn't collapse altogether as WTE has a few fingers in the pie -ARG apart ! In any case the company are looking to make further acquisitions which would keep the pot boiling.