RE:new year new opportunitiesWe could all argue whether there are still opportunities on Block 13, but the fact remains, and this is from the Vox interview that Art did, Exxon has all of this data on West Africa, they will put the drill results into the mix with that other information and then Exxon will determine if there is still an opportunity on Block 13. Exxon will make that decision from a much larger data set.
Is there any way to tell how many options and warrants were exercised prior to the drill result? That would give XOP more time before they have to finance again to cover their huge admin costs. I have read other posters here say that Exxon is making a second drill determination by end of January. Is there a reason for that date?
As for the Nigerian play, that is supposed to be drilled late 2017 (based on that Vox interview) - So reading the posts here, I am a bit confused. Is block 226 Nigeria a proven oil producer? Or is it a block in the middle of an area where all around it people have found oil, but 226 has not been proven? And has XOP clarified how that drill on 226 will be paid for? Because I understand that it is near impossible to get debt financing to do exploration.
I am hoping some other posters here have more information - as I am trying to figure out the likelihood of rollback and amount of potential dilution we might face in the next 6 months.