.

the drilling campaign will have its ups and downs as it already has politically would expect some sort of a deal with that mad argy woman will happen in time - argies are nothing much on their own - depends how much other SA countries back them and what if any US involvment diplomatic or other

lol rf

COV is mainland Africa rf, with infrastructure already in place.

He's trying to talk himself into buying more...........@50p.,.

lol & lol

Going long (small punt).....we shall see...too many negative vibes here....

gl rf - see a bit of a rebound on small buying right now

As some people seem to struggle to understand what gas condensate is, I have put the following together quickly, apologies for errors in advance - this is just a simple way of giving an idea of what "gas condensate" is.


The most interesting question is what is the bngl/mmscf for the gas condensate ?

The company has said, in effect, this is not a "wet gas" find, they have said this is a "gas condensate" discovery.


"Wet gas" is as it says, its gas with fluids in it. Wet gas can be anything from tea cup of Natural Gas Liquids per MMSCF to around 10 barrels of NGL/MMSCF.

BNGL/MMSCF is Barrels of Natural Gas Liquids / Million SCF of gas.


Now, gas condensate discoveries, as opposed to wet gas discoveries, tend to have a value for bngl/mmscf from 10 barrels of NGL/MMSCF up to around 500 barrels of NGL per MMSCF at which point above 500 its into the realms of "volatile oil" before becoming "black liquid oil" at around 1000 BNGL/MMSCF equivalent values.

So

Up to 10 BNGL/MMSCF is "wet gas"
>10 BNGL/MMSCF up to 500 BNGL/MMSCF is "gas condensate".
>500 BGNL/MMSCF up to 1000 BNGL/MMSCF is "volatile oil".
>1000 BNGL/MMSCF equivalent is liquid black oil


To put that into perspective - if lets say the Darwin East + Darwin West structure is joined and has 5 Tcf of gas equivalent value and that "Gas Condensate" has a BNGL/MMSCF value of 100.

You would get :

5,000,000 MMSCF x 100 BNGL = 500 million barrels of condensate.

If its 2 Tcf and 200 BNGL = 400 million barrels of condensate.

If its 2 Tcf and 20 BNGL = 40 million barrels of condensate.


This is why at the moment its very hard to value this "gas condensate" discovery, but its certainly not a "wet gas" discovery as per RNS is clear, this is into the realms of gas condensate.

We await the fluid samples and therefore a value for the BNGL/MMSCF of the fluid recovered from Darwin.

If they recovered fluid from the reservoir it is possible this is actually in the borderline between gas condensate and volatile oil - if the BNGL/MMSCF were to be 500 then it would be fluid like, on the borderline state between condensate and volatile oil.

I see plenty of jealousy when others are making money ............


Jealousy QUOTES

A competent and self-confident person is incapable of jealousy in anything. Jealousy is invariably a symptom of neurotic insecurity.
Robert A. Heinlein

A negative judgment gives you more satisfaction than praise, provided it smacks of jealousy.
Jean Baudrillard

Anger and jealousy can no more bear to lose sight of their objects than love.
George Eliot

Back then I didn't think a woman like that, or a relationship like that, could exist with complete freedom and no jealousy or possessiveness. I thought it sounded too good to be true and I was certainly convinced it wasn't the life for me!
Sylvia Kristel

But when I would see the surrogate, my first instinct, my first reaction would be jealousy, because she was doing what I wanted to do.
Cheryl Tiegs

Don't waste time on jealousy. Sometimes you're ahead, sometimes you're behind.
Mary Schmich

From heresy, frenzy and jealousy, good Lord deliver me.
Ludovico Ariosto

I do not say anything from jealousy.
Anna Held

It is not love that is blind, but jealousy.
Lawrence Durrell

It is remarkable that jealousy of individual property in land often goes along with very exaggerated doctrines of tribal or national property in land.
William Graham Sumner

It will be found an unjust and unwise jealousy to deprive a man of his natural liberty upon the supposition he may abuse it.
George Washington

It's amazing the clarity that comes with psychotic jealousy.
Rupert Everett

Jealousy - that jumble of secret worship and ostensible aversion.
Emile M. Cioran

Jealousy contains more of self-love than of love.
Francois de La Rochefoucauld

Jealousy is a dog's bark which attracts thieves.
Karl Kraus

Jealousy is all the fun you think they had.
Erica Jong

Jealousy is both reasonable and belongs to reasonable men, while envy is base and belongs to the base, for the one makes himself get good things by jealousy, while the other does not allow his neighbour to have them through envy.
Aristotle

Jealousy is bred in doubts. When those doubts change into certainties, then the passion either ceases or turns absolute madness.
Francois de La Rochefoucauld

Jealousy is cruel as the grave: the coals thereof are coals of fire.
Solomon Ibn Gabirol

Jealousy is love bed of burning snarl.
George Meredith

.

What goes UP can go DOWN

or maybe is the way around

.

TENSIONS are expected to escalate between the UK and Argentina following the discovery of £2 billion worth of gas off the Falkland Islands.


http://www.scotsman.com/the-scotsman/international/significant-gas-find-discovered-near-falkland-islands-1-2251058

take out cash market cap just £250m

.

.

Funny you saying that Pro as Merchant Securities analyst Brendan Long thinks different,another poor ramp trying to misslead people.

Stebbing is also now more likely to be a gas prospect, according to Merchant Securities analyst Brendan Long.

“The presence of condensate confirms that the South Falkland basin is condusive to the generation of liquid hydrocarbons,” he said in a note to clients.

“However, due to the close proximity of the Darwin and Stebbing prospects we believe that the probability of finding gas condensate at Stebbing has increased and the possibility of finding black oil has decreased.

If the two of you could actually bury your differences, you could pool your opinions and produce a very balanced thread! About time you bought each other a pint!

Interesting post at " iii " by - olaadio -

Condensate - A must read for some!!

The article is right at the point of gas, condensate, oil are all from the spectrum of hydrocarbons. The theory is correct. All three comes from the C1 - C35+ range but the most important factor is that what each part of the spectrum is worth both in term of cost of getting it to the market and the degree of important in the economy.

C1 - C3 (Natural Gas) is notoriously riously expensive to bring to market - LPG, LNG, GTL, Pipelines etc. Feedstock to Petrochemical to make plastics and all other forms of its derivates (rubber, tyres, carpets etc)

C4, C5 (Condensate) is slightly easier to handle but hasnt really got a huge market in terms of utilisation - u can use it to spike crude (make heavy oil lighter within contract specification - about 30% of C4,C5 can end up in gasoline) or use the C4 to make LPG blend but not much more else

C6+ is the current darling of the world economy. Despite the push for electric cars and :PG cars, 95+% of the automobiles in the world still count on C6+ (Crude oil) Cars, Trucks, Plane, Helicopters, Ships, Sub, Jet Fighters. Even the nasty stuff at the bottom of the crude oil still make there way onto roads (as Tar).

So this above makes it very important what you reservoir contains. Different reservoirs have different make up. If you reservoir is like 80-90+% C1, you know you have yourself a gas well (Non Associated Gas - NAG Well) pretty much and consequently its worth is proportional to the cost of monetisation and economy demand/utilisation as stated above. Any Liquids (Condensate) is a by product and can be used to spike much large quantities of crude oil.

If your reservoir has about 50+% C6+ then you have yourself an oil well and the vaue is proportotional to to the cost of monetisation and economy demand/utilisation as stated above. Any gas C1-C3 (Associated Gas) is a by product and the C4-C5, "condensate" can be kept in the main oil product as long as it keeps the sale product within contract specification.

Without wanting to go on and on and going further into technical details, the above makes it very significant if you discovery comes under what is terms gas well ot oil well.

That is my tupence as a Process Engineer who is invoved with hydrocarbons (oil & gas wells on a daily basis)

Not a chance in hell Harry the bloke misleads people especially on Advfn with his constant ramping,people do get taken in by him. I try to keep to the facts like when the rig was out of action you heard it here first or on the 17th I called it gas find on my BOR thread and sold out.
There is no market for this gas at this present time in the FI,its oil they need.

One more pop at Pro as he is a bare face liar, he told everyone here he had closed his long position but held all his shares.

Wrong he told everyone on motley fool he sold all his shares.

And for the record, I sold my BOR late yesterday but retained all my FOGL as it has no effect on FOGL, if the rumours are true (apart from perhaps some hot money pulling out short term which might give a short buying op on FOGL).