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Thursday, November 30, 2006 2:00:05 PM
In reply to: None Date:11/29/2006 11:14:05 AM
Post #of 82367
****UPDATE JDA***** FINALLY
Sorry this took so long. Looks to be well worth the wait. I had questioned/doubted Spec29's BD rig rumor but looks like he may be correct.
I spoke with my JDA source. He said all block consortiums are meeting next week and week after (next 10-15 days) to Finalise 2007 Budgets. I asked him about drilling and he commented drilling will begin in 2007 (Blocks 2,3,4). I asked him how certain he was of this and asked him if this was just hopeful thinking. He basically stopped me in my tracks and said he was 100% certain drilling would begin in 2007. This also includes CVX drilling another well in Block 1 in 2007. His point was that the operators have a lot of pressure to meet their minimum committments for drilling. I pointed out that Addax has been saying 2008 for start of drilling. He pointed out they have to be very conservative in their comments/presentations, which makes perfect sense. Addax did say however that if a "rig of opportunity" became available it could be 2007. I asked about timeline (1st,2nd,3rd,4th QTR 2007?). He said he could not be specific but he was certain drilling would begin in 2007 and very likely first 1/2 of 2007. He told me to call back in mid-dec after meetings have been concluded and he will be able to give me specifics. It was very interesting he mentioned the BD Rig that Spec29 has been talking about. I asked where he heard this info and he told me he heard from people very close to the companies. He said he was hearing the same thing about BD drilling early 2007 but would not comment on Exact date or which block. He says this has to be "formally submitted" before he can further comment on this. This should all happen within next 10-15 days.
Ok, now all the bashers can come out and say I am lying. What you can do is call for yourself. The numbers are on the JDA website. Also, I asked my JDA source numerous times how certain he was of drilling in 2007. Almost to the point of being offensive. He was adament that drilling will begin in 2007. In his tone he acted as if it was almost common knowledge and that I should have already known this.
IMO, I think we see drilling in JDZ Feb-March. Just my opinion based on my call and other sources.
Sorry if this update seems a little hard to follow. I am busy with work and have to hop back to it.
Cheers,
Mark
Take my posts for what they are worth. Better yet do your due dilligence. Long and Strong ERHE.
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