Interview with Paul in the papers.... A good interview with Paul.
Extracts below with my comments....for the full interview click the link.....
https://trinidadexpress.com/business/local/touchstone-celebrating-oil-and-gas-milestones/article_ab46b658-65b1-11eb-baa7-07ee2b415b65.html Coho-1 online in April.
Definitely looks like oil drilling in the SouthWest (waiting on new 10 year agreements to be signed off) with 5 to 10 oil wells drilled in 2021 from an inventory of 200. Oil breaks even at 28$ and any oil wells make a lot of money. In terms of the benchmark with Brent crude the Canadian firm produce, he explained that the company sells it to Heritage Petroleum and then they pay them every month, which works out to be 12 to 13 per cent discount to Brent.
Casca on line Q4 2021.
Baay said within the Ortoire Block, the Coho-1 exploration well was spud on August 7, 2019, and is expected to come on stream in April this year with about 10 million cubic feet a day of natural gas. And in the fourth quarter of 2021, the Cascadura-1 well will come on stream with 100 million cubic feet a day of natural gas and 2,000 barrels a day of oil.
“Assuming there is more success in the block, and a couple more exploratory wells that we have to drill, the company can see themselves over the next 24 months adding over 200 million cubic feet a day and somewhere around 4,000 barrels a day of oil.”
Baay said in his 30 years’ experience in the oil and gas sector the Ortoire block has surpassed his expectations, as the trajectory from 10 million to 200 million cubic feet a day is the advantage of drilling onshore, which means it can come on stream more quickly.