I am a wonderer..............a wonderer.........
I am wondering "what happens next"...... given the surprise discovery of oil in a secondary target at Chinook-1.
It seems that was in the Gr7bc. If the soon to start production test yields commerciality - thats a potential big cash upside in terms of immediate cash. The current thinking is that "if" the primary gas target flows then money comes in from Chinook-1 gas from Jan 2022 onwards.
But if the oil flows from the secondary target commercially, then we have "instant" cash flow from Chinook-1 oil with the primary gas being bought on stream later........... and what a time to be selling "upside" oil....at 70$+ a barrel.
If they move 1km North East and drill the sub-thrust in an optimal location 1000 feet higher up and strike oil.....then again......we have a 2nd oil production well on the Chinook structure.
Now move across to Cascadura Deep-1. The Gr7bc was the primary target and it struck net pay...........along with loads of other net pay in other structures in what is said to be "the best well drilled so far".
What happens if the Gr7bc at Cascadura Deep-1 yields oil....... if that were the case again we may see "instant" cash flow from oil while the infrastructure for gas flows from Jan 2022 is put into place from Cascaudra-1 and later adding on the gas from Cascadura Deep-1.
From the news of them mobilising an Ultra-Heavy telescopic drilling rig (capable down to 18,000 feet imv) from Canada into Trinidad, well to me, suggests they might be seeing a lot more cash coming in a lot more quickly - so thats why I am pondering on the Gr7bc and the sub-thrust oil potential.....
Balata West North (Cascadura) and Balata West South (Chinook) were both originally "oil" targets that seems to have discovered a hell of a lot of gas. However, they both might now be yielding quite a lot of oil as well. We shall see in due course.............................