.

Been a good day for clearing out the weak after the earlier rises. Certainly is a buyer in the background accumulating and letting people sell into gradually rising prices.

Yeah, yeah, yeah. Suppose, maybe, if, perhaps..............

Only another 60 days to go of this stuff.

then the pp lemmings reach the edge of the cliff.........

hey, you guys ...... i got berated only the other day for being nasty to MrP

But we've been squelched and you are still one of the chosen few.

all us jews are of the chosen few!

wasn't that what the nazis used to say or was it the scots?

Edited today (Thurs at 0825 hrs) due to my mis reading of the meaning of Halifax's last post.

I took the meaning to be the Nazis refering to the Jews re how the Jews were chosen for the death camps, and was suprised that he could put such a post.

Having re-read the post, I realise the intended meaning, which was obvious.

Talk about putting 2+2 together and getting 5.

So humble apologies to Halifax!

the nazis reckoned they were "die Herrenrasse" (the Master race) and the Scots were always "also rans"

Looking at Noble energy you do see a lot of positives. The development of Tamar and Leviathan, the world's two largest deepwater gas finds. Deepwater drilling Gulf of Mexico (double the water depth of the Falklands areas). Their production activities began with a 34 percent working interest in the Alba field, offshore Equatorial Guinea. In addition to natural gas and crude oil production, related operations include an LPG processing plant where liquids are recovered and a methanol plant. Natural gas produced from the field is sold to the LPG and methanol plants as well as a third-party LNG facility. Their first operated major project in West Africa, Aseng, came online in late 2011 and they expect to bring the next project, Alen, to production in late 2013. And its West Africa I think that draws their attention to the Cretaceous area's of FOGL's licenses.

Add this on to Edison SPA, who are also leaders is developing gas, LNG etc.. and you now have 2 heavyweights in gas on board with FOGL, and no its not surprising given the 25 TCF recoverable potential of Loligo.

But, going back, its West Africa I think that draws Noble Energys' attention to the Cretaceous area's of FOGL's licenses, as West Africa and East Falklands used to be one..........many many years ago.

Noble have had a lot of success in West Africa, and West Africa is analogous to the Cretaceous of the East Falklands, Noble could really be a key here in developing the Cretaceous plays, starting with Scotia.

The Tertiary plays are analogous to the Campos Basin in Brazil, not an area of expertise for Noble but one which a lot of effort has been put into by FOGL.




Its also worth highlighting again at this stage the big differences between BOR's and FOGL's license areas. BOR were drilling the fold belt - high pressure was a very real risk. FOGL are not drilling any high pressure or high temperature wells. They are drilling well away from the hot spot area, which makes migration risk higher, but pressure and overcooking risks very much lower.

Its also interesting if you take GREEN in the above as FOGL's estimates of GAS, and YELLOW in the above as FOGL's estimates of OIL - well, look at Darwin, FOGL marked it as gas (gas condensate) long before the drill bit found gas (gas condensate).

Its going to be interesting to see if their expectation of GAS upper at Loligo and OIL lower is going to proven correct, would be lovely to a circa 10TCF to 12TCF recoverable gas find in the upper before the drill bit goes further down to check for any oil below.

i see toroa is marked in yellow, but wasn't that a total duster? ...... as i keep saying, none of these companies intentionally drills for sand, but all the seismics and every other bit of research under the sun can give no more than a "let's hope" chance, and that is being generous

Toroa had a 3.7% chance of success.

A well had to be drilled by late 2010 to comply with the license terms. The Ocean Guardian rig could only drill Toroa (very shallow water like North Falklands).

So Toroa had to be drilled. It was a duster pretty much as expected, but it meant the license terms were complied with and so it served its purpose.

fair comment other than your pretty pic implies that it should have held rather a lot of oil
wasn't scotia a duster too, or does my memory play me false?

Scotia is to be drilled after Loligo.

No drills have ever been done in the deeper southern basin. Toroa was a shoreline well, only 600 meter water depth and it basically found what you expect at shoreline, and thats coal.

Deep water is a different thing, thats gas or oil.

many thanks for the correction, but because there is no precedent at all in this area, everything but everything is based on hope

Cynic,

You do need to do more research.
Try as I might, I cant find any potential well called 'Hope' in the Fogl licencing areas.

"stupid boy, greek! it was a cunning ploy to deceive the bosch"

LOL, but I cant understand why anyone would want to deceive a washing machine manufacturer.

OK enough frivolity back to Fogl.

because they're already fixated with going round and round in circles :-)

There are a number off Workshop meetings going on today and over the weekend with FI companies who are working in the FI oil business whether these are bog standard meeting getting to know each other or more detailed I don’t know.

Whether this is why Desire is up and ARG I don’t know.