I'm good, thanks SS. Trust you are well and safe. This just out from Total
https://www.total.com/media/news/press- ... sets-ghana
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Tullow Oil (TLW)
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Re: Tullow Oil (TLW)
Suriname News
hTTps://www.energy-pedia.com/news/surin ... bil-179595
Tullow Share a small Border as they are in block 54
hTTps://www.energy-pedia.com/news/cote- ... tal-179582
In the Tano Basin
Again Tullow well represented in the area.
hTTps://www.energy-pedia.com/news/surin ... bil-179595
Tullow Share a small Border as they are in block 54
hTTps://www.energy-pedia.com/news/cote- ... tal-179582
In the Tano Basin
Again Tullow well represented in the area.
Re: Tullow Oil (TLW)
Positive read through for TLW SS. Petronas/Exxon planning to drill in Q3/20. It's perhaps noteworthy on two counts.
1. This well will be jumping the existing queue of drill ready prospects Exxon already have on their existing blocks in Suriname and Guyana, suggesting a relatively high confidence in a positive outcome.
2. Exxon's zone of interest, up to this farm in, has basically been beyond 1000m WD, with TLW (so far) having disappointing results further up the slope. Exxon now targeting same WD as TLW's blocks must be seen as a positive.
Would be interesting to know if it is a carbonate prospect, like Walker on Stabroek, or a sandstone target similar to TLW's fails. Anyway one to watch.
I hold Apache as well. Liked Total's farm-in, basically paying for 87.5% of FPSO 1 costs, with Apache paying 12.5% for their 50% share of vessel.
1. This well will be jumping the existing queue of drill ready prospects Exxon already have on their existing blocks in Suriname and Guyana, suggesting a relatively high confidence in a positive outcome.
2. Exxon's zone of interest, up to this farm in, has basically been beyond 1000m WD, with TLW (so far) having disappointing results further up the slope. Exxon now targeting same WD as TLW's blocks must be seen as a positive.
Would be interesting to know if it is a carbonate prospect, like Walker on Stabroek, or a sandstone target similar to TLW's fails. Anyway one to watch.
I hold Apache as well. Liked Total's farm-in, basically paying for 87.5% of FPSO 1 costs, with Apache paying 12.5% for their 50% share of vessel.
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Re: Tullow Oil (TLW)
Suriname .Apache have a new presentation/conference call and Q/A
Block 58 two significant Oil discoveries Maka and Sapokara also started drilling Kwaskwasi 8th May then on to Keskesi. independent plays.
They are very excited in Suriname,very strong Petroleum working system that has lots of charge and features very large stacked plays and over 50+ prospects mapped with different play types.
Lets hope Tullow can come up with something in Suriname.
Block 58 two significant Oil discoveries Maka and Sapokara also started drilling Kwaskwasi 8th May then on to Keskesi. independent plays.
They are very excited in Suriname,very strong Petroleum working system that has lots of charge and features very large stacked plays and over 50+ prospects mapped with different play types.
Lets hope Tullow can come up with something in Suriname.
Re: Tullow Oil (TLW)
Sloppy terminology in my previous. Total aren't "paying" 87.5%, they are giving Apache a 'Free Carry' which eventually comes back to Total as Cost Recovery Oil. Still a good deal for Apache though. Just thought I ought to make that clear, see terms here
http://investor.apachecorp.com/static-f ... 09573cc8ef
and to the actual reason I'm posting now; apparently Suriname have temporarily suspended the count in their election at 73% votes counted, as at that stage the vote appeared to be going against the government!
http://investor.apachecorp.com/static-f ... 09573cc8ef
and to the actual reason I'm posting now; apparently Suriname have temporarily suspended the count in their election at 73% votes counted, as at that stage the vote appeared to be going against the government!
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Re: Tullow Oil (TLW)
Hi xx
Suriname's incumbent President Desi Bouterse must be worried as a convicted murderer he will go to jail if not re elected.
Uganda CNOOC has now informed Tullow and Total that it has elected not to exercise its pre-emption rights. perhaps it will help speed things up.
Suriname's incumbent President Desi Bouterse must be worried as a convicted murderer he will go to jail if not re elected.
Uganda CNOOC has now informed Tullow and Total that it has elected not to exercise its pre-emption rights. perhaps it will help speed things up.
Re: Tullow Oil (TLW)
Hi SS,
Apache's current drill 'Kwaskwasi-1' commenced operations "in second half of April". It's probably a 70 to 80 day well so a result (if positive) may get aired soon, unless Apache leave it until Q2's due around end of this month. None of the first 4 wells are being DST'd. The appraisal program for Maka should have been submitted to Staatsolie last month. They have 30 days to respond.
Interesting that XOM farmed into Block 52 leapfrogging their existing deep water exploration well queue in Guyana. Petronas have 6 candidate wells permitted; 3 in 500 ft to 600 ft and 3 in 50ft to 100ft water depths. Rig selection points to a c.550ft water depth, higher up the slope than previous XOM or Apache discoveries. https://www.offshore-technology.com/new ... ploration/
Meanwhile poor old Tullow maybe drilling a well on Goliathberg-Voltzberg on Block 47 later this year. Wouldn't surprise if it got delayed. They have one well permitted on Block 47. It's a huge fan system in a water depth of about 1900m. Statoil used to be partners but they left after the 3D was shot some years ago.... Ratio Oil (20%) and Pluspetro (30%) have entered through the revolving doors.
Apache's current drill 'Kwaskwasi-1' commenced operations "in second half of April". It's probably a 70 to 80 day well so a result (if positive) may get aired soon, unless Apache leave it until Q2's due around end of this month. None of the first 4 wells are being DST'd. The appraisal program for Maka should have been submitted to Staatsolie last month. They have 30 days to respond.
Interesting that XOM farmed into Block 52 leapfrogging their existing deep water exploration well queue in Guyana. Petronas have 6 candidate wells permitted; 3 in 500 ft to 600 ft and 3 in 50ft to 100ft water depths. Rig selection points to a c.550ft water depth, higher up the slope than previous XOM or Apache discoveries. https://www.offshore-technology.com/new ... ploration/
Meanwhile poor old Tullow maybe drilling a well on Goliathberg-Voltzberg on Block 47 later this year. Wouldn't surprise if it got delayed. They have one well permitted on Block 47. It's a huge fan system in a water depth of about 1900m. Statoil used to be partners but they left after the 3D was shot some years ago.... Ratio Oil (20%) and Pluspetro (30%) have entered through the revolving doors.
Re: Tullow Oil (TLW)
Big find in Suriname from APA/Total.
http://investor.apachecorp.com/news-rel ... y-block-58
http://investor.apachecorp.com/news-rel ... y-block-58
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Re: Tullow Oil (TLW)
1st half results out today, flagging capital markets day before the end of the year to "update the market on these plans to deliver on Tullow's true potential":
https://www.investegate.co.uk/tullow-oi ... 00104005Y/
· Group working interest production for the first half of 2020 averaged 77,700 bopd, in line with expectations
· Revenue of $731 million; gross profit of $164 million; loss after tax of $1.3 billion
· Loss after tax driven by exploration write-offs and impairments totalling $1.4 billion pre-tax
Looks like there might be a rights issue in the offing:
· Evaluation of various refinancing alternatives with respect to the Group's capital structure is ongoing in parallel
https://www.investegate.co.uk/tullow-oi ... 00104005Y/
· Group working interest production for the first half of 2020 averaged 77,700 bopd, in line with expectations
· Revenue of $731 million; gross profit of $164 million; loss after tax of $1.3 billion
· Loss after tax driven by exploration write-offs and impairments totalling $1.4 billion pre-tax
Looks like there might be a rights issue in the offing:
· Evaluation of various refinancing alternatives with respect to the Group's capital structure is ongoing in parallel
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