From Chunky Monkey
My highlights scratched on the back of an envelope:
Anticline Heart of Fairway - 3D Chess Match - We have the heart of the watermelon, no need to branch outside block.
Full Cycle now, not a well by well thing anymore.
3 Rigs ...... Gonna get me in trouble but 3 rigs ..... Bring it on I say!
Capital raise - not going to make any decisions now, will use debt where appropriate. I can't imagine they would even consider this before Cascadura Deep is finished and tested as well as Chinook. Royston would likely be funded with capital raise is what I interpret him trying to say. That will likely happen at a higher price I would also say the interpretation there could be. I'm not going to sit out and wait for it ....
Cascadura could do 10,000 boepd, but the pipe in the hole can't handle it. WTF! Can we have more problems like this please?
Chinook more significant that Cascadura + hydrocarbon show in lower sand sheet for first time. Getting a stiffy for that virgin sand?
Chinokk, at least in Paul's book is WORLD CLASS !!!! Go back and read that sentence a few times.
Cascadura Deep is a very large structure - well bigger is usually better, go Paul.
Chinook and Cascadura could be connected ..... STOP THE BUS! Get a drink ..... Start the bus again. %¤/"% Yeah.
Royston significantly de-risked - we knew that ......
Jan Feb Coho pipe - 57 meetings with locals due to Covid can't have town hall and difficult to go fast with under Covid since hasn't been done in 20 years on island. Government covering it's rear and going slowly.
NGC hopefully next month - will not be able to divulge specific gas price due to competition would gain advantage via info for end users costs. Gas will be priced in range as otherwise in Trinidad.
Rig moving this week to Cascadura Deep. Should be spudding within Nov 4 window I would think.,
Pools not spilling into other blocks, pretty well confined by faults, they doen't see any issues here yet.
Testing equipment used will be same, Covid makes bringing in from outside more problematic, and the data they could get with this equipment was good enough, did not need to have the additional drawdown.
Safety issue due to access if trying to test Chinook while drilling Cascadura is not acceptable to have two simultaneous operations on same access road. Fair enough, this is the oil industry who take the HSE thing very seriously and many times much too seriously. Incident days get reset to 0 because some slipped and scraped their shin. Don't ask, if you haven't worked in oil, you won't understand how utterly ridiculous it has become.
But anyways, switched on hostess, yes, we do view this as our company, because it is! She had good questions and was obviously paying attention, so would like to see her back. Well done again by Paul, and of course very well done by the TXP team!
Oh, and the last thing, but very important thing - Paul says there are so many different potential buyers on the island, so that it is not going to happen that we get this stolen from under us. There would be a bidding war since so many parties are interested in the gas, and we will get fair value if and when this event occurs.