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A couple of things for perspective for you guys.
First I visit the mississippi coast often. During the right time of year I can buy 15count shrimp directly off the shrimp boats for 3.00 per lb if I buy at least 200.00 worth. Many Others do this as well. Point being these shrimpers can make money at 3.00 per lb after purchasing a boat, nets, ice, Desiel and deck hands.14.00 per lb will give lots of room for expense and profit.
Second, I buy live shrimp to fish with. I have an aerated live bait well in my boat. The bait well circulates gulf water and you would be surprised how hard it can be to keep the little suckers alive. If these guys are near 0% fatality they are wizards.
Everybody wake up and post some interesting things on SHMP already!!!!
:) :) :)
If Tau is a success then that 4mill will be paid back in about a week to a week or less. 4 mill is a drop in the bucket on this job.
Our industry is full of these surprises and it is not uncommon to go over budget by 10% or more.
We’ve gone over budget by 100% and still paid out in 3years.
I doubled my holdings today. As an industry veteran, I perceived the latest news to be positive and putting the odds more in our favor. I’ve been holding out to double holdings until I had some sort of wink. Granted it could still all go south but I’d say the odds are more favorable now. Good luck folks. Looking forward to good news this month or next.
Wonder how the Frac and drillout is coming in the walinda field?? Anyone know anything about it??
That’s a no brainer. Close-ology is not geology. But the W&T wells do give a snap shot of the economic Potiential. Because of the success at W&T and others this is now a proven reserve.
Of course there are geological/or operational reasons Tau could be not as good or worse. You shouldn’t use W&T’s success to say that 100% without doubt what Tau will do but don’t throw the baby out with the bath water either. If I personally was going to drill in any area and I could get my hands on the logs from producing wells in the same strata, you can guarantee I want that information. Doesn’t mean that’s the only info I’m banking on. But it does give me an idea of what economic Potiential I’m looking at should I find what I’m looking for. It’s good info but not definitive.
I missed the bus on this one by a day. Shoulda jumped. If it drops back down imma be on it like stank on shmp ????
W&T Offshore brings well on stream at Mahogany field in Gulf of Mexico
HOUSTON, Jan. 26
01/26/2017
By OGJ editors
W&T Offshore Inc., Houston, started production on Jan. 17 from the Ship Shoal 349 A-18 well at Mahogany field in the Gulf of Mexico.
The well is ramping up to full rates and thus far has achieved a production rate of 3,275 b/d of oil and 5.6 MMcfd of natural gas for a total of 4,200 boe/d at a flowing tubing pressure of more than 9,000 psi. The company expects to increase the A-18 production rate to more than 5,000 boe/d consistent with its reservoir management plan.
W&T earlier this month reported that the SS 349 A-18 well logged 149 ft of net oil pay in five zones and extended the size and depth of Mahogany field (OGJ Online, Jan. 6, 2017). The well was completed in the main objective 'T' sand, with future recompletion opportunities to additional pay zones available in the well.
The deep shelf subsalt well was drilled to a TVD of 20,000 ft in 372 ft of water on the western side of the field.
“With its high-quality rock properties, including very high porosity and permeability, we anticipate strong production rates from this well for years into the future,” commented Tracy Krohn, W&T's chairman and chief executive officer. “Our SS 349 A-14 well that originally discovered the 'T' sand in July 2013 has produced a total of 3.8 [million] boe gross from the 'T' sand to date."
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W&T’s 2017 capital budget includes the drilling and completion of three additional wells at Mahogany. “We have multiple 'P' sand, 'T' sand, and 'Q' sand targets, and the thick stacked pay sands that will offer drilling and recompletion opportunities for years to come," Krohn added.
Tom Murphy, W&T's chief operating officer, said, "The A-18 well has exceeded our pre-drill production rate expectations. Initial indications are that the A-18 well is located in the same large reservoir as the original 'T' sand discovery well, the A-14. This provides excellent encouragement for our expansion plans in this reservoir including exploitation of the newly discovered 'U' sand."
W&T holds 100% working interest in Mahogany.
I know. Market is getting hammered and this one starts moving. ????
I definitely hope you are right. You may have been apart of these types of operations as I have. If they are ready to turn to production within 36 months of completion I’ll be very happy. The experiences I’ve had tells me not to get my hopes up for 36-48 months. Anything faster than that is a bonus. I travel between Mississippi and South Texas regularly so if you’re close to that area and if you’re right and I’m wrong I’ll take ya to the Steakhouse of your choice. At that point we’ll both be sitting pretty anyhow.
For me personally I knew this is what I was getting into when I jumped in. I’m not surprised that we haven’t heard anything. In fact it’s one reason I jumped in. These guys aren’t trying to play the pump it with hype game. They are in this business to succeed at what they doing right now. 4,5, or 6 months won’t mean anything if the well is a success.
Granted, my thoughts are that stock prices shoots up if news is good. Then when everyone realizes it will be 3-4yrs minimum before a platform is built and the well is turned to production, many will jump out and try to re-enter when they get facilities in. That or Delek buys them out. IMO I don’t see Them selling unless it’s for a fat premium.
You have to set you mind for long term on this one. This isn’t your standard penny company which is why I’m in.
I agree with your assessment. I have a nice little slice of GSPE and ready to add owning good drilling results and again pending good flow test results. I am in this stock because i believe they truly have a chance with the technology and team that they have. But at the end of the day there are two things. First, is that it’s all or nothing if Tau makes a well and second, if it makes a well it will be years before production is flowing. We are talking 3.5 to 5 yrs before GSPE is actually a profitable company. They may have proven some reserves but they don’t get paid till it flows through the meter. I still think this stock has huge potential but it may take many years to see it.
Good info. I haven’t really dug into this wilinda project other than the press release. I’m just piggy backing TXSO because of the GSPE JV on Tau. Thanks for the info.
Couple of things, is the Austin that shallow in that area?? I’m not very far north and the Austin is around 9,000’ on average.
Also are we sure they were loosing returns to the pay zone?? Why would It not be leaking off to which ever zone between the surface casing shoe and the landing point?? All those will be behind production casing at this point.
O yeah, if the directional drillers did their job the 20’ thickness won’t mean anything. The geology of the rock will but not the thickness. The lower eagleford is mot very thick not to far north of there and we’ve turned on some barn burners. If the geology is right and the directional hands laid the lateral flat in the pay then it should produce well.
I agree with you. Most of these shallow wells are verticals. With over 4,000’ of lateral this could have some drive behind it. I’d like to know their stage spacing, pounds of sand per foot, and if they will do cross link, linear, or slickwater Frac. Personally
I’m very curious to see how this shallow formation responds to these methods. If well pressures are low they may consider an N2 foam Frac. I’m in TXSO Beacuse if the link to GSPE and the TAU well. It is a curious thing that TXSO is going to be completing this well so close to the time GSPE will be TD-ing the TAU well. Could be lots of good news for Christmas.
Don’t know if we should but I’m sure ready for one. We should be half way through this well at this point.
Thumbs up on that article. Thanks for sharing
Side note,
I’m from the dirty south and Work in the oilfield. I have often used HCL to dissolve carbonates in the formations we stimulate. I see that NioCorp plans on using HCL in their process to refine the product. My first thought is that they are stripping away carbonates (as well as other things). When HCL strips carbonates it creates CO2. You’d be surprised how much CO2 is released from a small amount of carbonate. I wonder if there is a market for CO2 that is stripped from the product during the process. Just a thought. Wish I could attend one of those town hall meetings.
Good morning miners,
I’ve just recently found NIOCorp and I’m getting excited. Haven’t bought in yet still doing DD. But so far I’m buying in on the dream. What I see is a huge market for Niobium, at home and abroad, but the recent news about scandium seems to be a game changer. The added Trump Admin news release on pulling back to American supplies is real good news too. What I’m taking from this is that since Niobium has a market here, though it will be competing with overseas markets, plus the POTUS decision, and the best news, the 10yr enforceable contract for scandium should 100% secure financing for this project.
So... let me see if I’m being realistic, these guys have leverage right now on investment banks, if they lean on the real hard now, and secure financing by the end of the year it will likely be spring/summer 2019 before loan closing. Construction begins and we start mining in 3.5yrs, first couple yrs are paying interest on loans and ramping up production, 6-7yrs profits are starting to soar and we are trading on the NYSE and real money prices.
Does this make since to y’all?? I’m sure they’re will be price hikes in SP with news of secured financing and project building but it won’t really get traded with the big boys until the balance sheet is green and climbing. I’m good holding for 6-7 yrs plus with the kind of Potiential I’m seeing. Just wondering what yalls thoughts and expectations are.
I’m still on the fence to jump in and buy until I see secured financing. But with the POTUS news and the 10yr contract on scandium I feel like i can already see it.
Give a newbie your personal opinion.
PS: I’m not jumping in for a 25cent Jump. When I jump in here I’m in for the long haul. I’m not a penny jumper.
https://globenewswire.com/news-release/2018/10/16/1622105/0/en/Texas-South-Energy-Completes-First-well-in-Wilinda-Project.html
Just need a good Frac on this one now to see what we have. I’m mainly in TXSO because of the Tao prospect through GSPE but I’m anxious to see what these wilinda wells do.
Anyone thinking this second hurricane will help LL our much. Seems like a lot of ruined floors in the last 2 months
With all the hedge funds dumping I don’t think this will recover quickly even if Thursday brings good news. Pending good news I think it will take awhile for the hedge funds to bite again. Should have plenty of time to load back up if Thursday’s news is positive. Still going to be a long game.
I 100% agree with Liquidgoldbaby, I believe this stock has significant upside but only if the Tao is a success and not until oil is flowing to market. At minimum that’s 3.5 to 4yrs away. I have personally worked on these type projects in the gulf. If Tao tests well I’m going to double my holdings and wait on production through the sales Meters.
If Tao is a bust better bail out fast, if it’s a success start looking for a vacation home.
Also added 8.05
Tried to buy more this morning when it took a drop to .014. Couldn’t find any buyers ????????. Now it’s back up ????
I’m in operations and on land now. I have a general knowledge of geology/reserves. It’s a big gamble (obviously) until they TD the well. But if they do, and the well is what they say it is this .06 stock could eventually be way up in the dollars. I don’t think it will be over night. I’m sure it will jump if there is good news on the Tao well but I don’t foresee it going up and staying until they start flowing the wells to production. That’s years away. There is also the possibility of a larger major buying them out if they have success. I’ve bought this one to hold long.
I’m in with GSPE and TXSO at roughly 80% HSPE and 20% TXSO. GSPE is operator and has more interest. I’ll likely dump TXSO if the well tests good and stock goes up. Then I’ll buy back in when it drops while everyone is waiting for the wells to go to production.
What I see is a legitimate company, with legitimate acreage, backed by a legitimate operator. For a .06 stock it sure has a lot going for it. Of course it all rides on drilling success, but there is enough going for them to see this as a serous buy and hold for big money down the road. This is not your average pump and dump penny stock. These guys have a legitimate chance to make it pending success of this well.
Guys,
I’m very new to this stock thing. I’ve been studying for years but have just recently started trading. I have been in the oilfield for 23yrs and have worked offshore in the past. If good results equal stock price hike anyone in on this one could be in for a nice pay day. It may take a couple years, but if they get this well to bottom and logs/well tests go well then it may be time for a new bass boat :) . I am very optimistic about this stock. Just have to get this well drilled and tested.