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Presenting WHAT!!!???!!!
Safe to say that Blk one is on development schedule.....and maybe all eyes on the next two wells...
QUESTIONS ...Ok Let me get this straight....MAy 19th we have a report that BLK2 received a 1 year extension on Phase1 and we already had an extension from Sept. of Phase1 in BLK 3&4...so what we have is the ending of the extension of 3 and 4 would occur sometime in September at which some announcement of progress or further extension or withdrawal from BLKs would occur.....???
Extension Phase1 Blk 3 ends Sept'11
Extension Phase1 Blk 4 ends Sept'11
Extension Phase1 Blk 2 ends May'12
Meanwhile in BLK 1 (no ERHE interests)there is a reported scheduled drilling by Total of two more exploration wells beginning NOV '11...do these wells constitute move to Phase two in BLK 1 or are they on an extension in BLK 1 ?
Thanks in advance
Didn't CVX knowingly drill off-structure?
The company has also noticed a surge in ultra-deepwater rig demand in West Africa, Southeast Asia, and Brazil. As a result, available rig capacity has diminished rapidly. The market appears to be close to a supply/demand balance, and based on known programs, the number of available rig years in 2011 could drop to less than two rig years and to less than 10 rig years in 2012.
this is what I was understanding the rig situation to be
Nigeria...but where? I dont know
They could get a rig slot in a couple of years, or sub-lease a rig but to outright get a rig in 6 months or so is still tight
Any speculation on ERHE SP if blk 1 were announced as commercial?....and wasn't Total to drill at least one well by Dec'11?
I don't think the extension has anything to do with analyzing data but everything to do with "saving face"....so that the Chineese do not look bad...it could have more to do with JVing due to rig shortage.
I'll ask it again...How many deep water rigs does SNP have under contract in West Africa??? Compare that number to Total and one can see that the extension is possibly based off of inability to have secured a deep water rig in the proper time frame.....and if Total will use one of its many rigs to drill another well in BLK 1 then SNP's wait could be seen as prudent.
Maybe it is this simple....HOW MANY DEEP WATER RIGS IN WEST AFRICA DOES SNP HAVE UNDER CONTRACT?????...WHEN MIGHT THEY GET THEM???
Now look at TOTAL and the number they have....doesn't it stand to reason SNP benefits from the extension by rig access alone, not to mention possible drilling results of a TOTAL spud in BLK1????
THanks!
Total is dominating the deep water rigs in West Africa!
Some one please help me find th reference to Total drilling by this December, thanks in advance
Total has the Jack Ryan, the West Cappela drilling in Nigeria and the Pacific Scirocco enroute to Nigeria as well as other ships in the West African region (Ghana)........surely something will be spudded soon in the JDZ......
First Oil Production in 2014 means that additional wells will be drilled and additional announcements of positive results will happen over a three year period...there will be many things in 3 years that must occur such as Phase 2 etc........just hang on a little longer!!!
unitization may simply be that sinopec is waiting on the next hole in in BLK 1 to proceed and that all have been stalling for the new drill ship.....
Pacific Drilling receives a Letter of Award from Total in Nigeria/
LUXEMBOURG, May 2, 2011 - Pacific Drilling S.A. (NOTC: PDSA) announced today that their latest generation drillship, the Pacific Scirocco, has received a Letter of Award from Total E&P Nigeria Limited, subject to completion of formalities with relevant government agencies in the near future, to perform exploration and development work in Nigeria. The minimum duration of the award is for a one-year initial term at a dayrate of $470,000 plus mobilization and client requested upgrades. The agreement further contemplates two one-year options at Total’s discretion
unitization may simply be that sinopec is waiting on the next hole in in BLK 1 to proceed and that all have been stalling for the new drill ship
ANYONE? Wasnt OBO-1 drilled outside of the prime drilling area and not right in a prime area according to 3d???? seems like I remember it was drilled "off channel or at the edge of a hyrocarbon zone....
share price is not reflective of any of the potential assets or potential JV's.......all we need is that new ship outfitted and spudding and then a positive announcement from BLK one will affect all blocks...a negative, then oh well......
NICE........THIS SHOULD HEAD TO BLK 1 and punch another hole/holes late summer early fall!
RIgzone states that it is enroute to Nigeria...looks like it will be dedicated to West Africa...hopefully Gulf of Guine...hopefully JDZ
Add to this the Pacific Scirocco which Pacific Drilling took delivery on in March...it is listed as enroute to Nigeria and is a dynamic positioning deep water drill ship...scheduled to be in service by the end of the year........Who HAS CONTRACTED FOR IT TO BE IN NIGERIA>>>>ANYONE KNOW?
in a hurry sorry about spelling and grammer
All this is can be found out through rigzone and search west africa rigs deep water and there are three enrout to their one two Ghanna and two to nigeria,,,,DEEP WATER!
CVX has the Pacific Drilling BORA contracted for 3 years located in Nigeria...Pacific also has two other dynamic positioning deep water rigs available one enroute to Nigeria and another simply available...go to pacific drilling houston website and check it out.....
Its time to start looking realistically about this.....ongoing negotiations for Phase1 to Phase 2, , May negotiations for EEZ PSC and JVs......it is as the company says it is...relax no amount of worry will make the share price pop, a lot of negative will hold it down.....so its not a day trade play...relax, get on with life...griping about it says more about the person griping than it does about ERHE and its management!
Let's not get our hopes up too high...that restructuring debt thing could be the bulk of it...but we can hope!!
color me Paranoid!......Something is going on to keep SNP around. It could be the early year announcement of converting all small engines and cars to LP in China and they see this an LPG field for their future, but the one that makes no sense is Total unless they are totally stupid to take over from CVX.......3 holes in Block?...were three of them desperation drillings...I dont think so!
Hold on People!! this is all based on OBO-1...we do not have any results from the other drillings.. and if it were a "duster" then why does Total want in and why is SNP hanging around???
Glad I had the smart phone and was able to buy in on this PANIC SALE while driving down the highway....trading and driving...not any safer than texting and driving, only hopefully more profitable!!
Wow...wish I had that "Job"!!!!.....How do you get a job like that?
tried, but e-mails were kicked back to me
Mark, are some of the same folks like Sam still at JDA?
Mark, would like to hear anything that you have,,,I'm a big boy and can do my own DD but like to balance it against all information....haven't been in contact with folks like I used to back in the day......hang in there and take care of your mom
Mark, good to see you back...I knew some of your sources and knew some of the timing....I am sorry for your loss...any info would be interesting..thanks
This latest "deal" may be a "response" to the letter.....they just went ahead in the share count by 10 million!
Just seems odd that we get the announcement so quickly...odd in the sense that we normally get to learn material events from other sources
OBVIOUSLY we were given the necessary permission to do this...why ERHC and not JDA or SNP???