RE:TurkeyAfter 5 wells fracked and flowed, interest from others have been minimal last 3 years. So competition not fierce
JoeCurragh wrote: I think we could be in danger of losing the Turkey deep gas play licenses. Hope I'm wrong. I don't see how 3 exploration wells can be drilled in time for June '23. There's 6 months until end June 23. It takes time to find and hire a suitable rig. If they do find a suitable rig & assuming all long lead times ordered in time then they've then got to prepare & construct the 3 well pad sites, move the rig onto site and drill the 3 wells (assuming they all go to plan without a hitch). The point of the drilling is to target the deep gas play, which means a min depth of 4500m. It takes approx 2 - 2.5 months to reach that target depth. If one rig started tomorrow then we might be ok for time but that's not happening at moment. See what I mean by how time is running out ? That's assuming we've got the cash to fund the drilling as well. I'm no expert but drill cost could be @ $10-15m per well. We don't have that sort of cash readily available in next 6 months with Thai commitments. I hope someone can tell me I'm wrong. Only hope I see is if Turkish authorities agree to waive 3 exploration well requirements and extend license anyway beyond June 23. Why would a major farm in now when they could probably just wait until June and pick up 100% of license then ?