Post by
gamaray on Jul 25, 2024 8:19pm
Art's video interview TokStocks
Did you watch recent interview? Regarding Gabar oil block Art says they have only brute stack seismic but because of the size of the structures they still can give locations. This not proper approach. As we know the seismic company has not been paid and it seems the final data is not given to TCF yet. This is why they did not do processing. If you say you will drill wells without a proper seismic work then why you shot the seismic at first place? Art is geologist so he knows the importance of the seismic, i assume. He also admits that more seismic work is required according to agreement to earn the rights in the license. If you dont have the money to pay 150 kms how you plan to shoot and pay the rest?? Before the wells, somebody should explain if TCF will fulfill the obligations to earn the interest. What does the partner (license owner) say about the delay. What is the deadline according to the contract? Do they agree to drill a location without seismic? Lots of questions. I dont know if they will get to the drilling phase.
Comment by
mcnils on Jul 26, 2024 2:29am
These are valid arguments. We have learnt that 2D seismic is not enough to drill successfully. If Art starts drilling on the basis of these findings, chaos is inevitable. Only 3D seismic could prevent this next financial fiasco for TCF. In general, companies that award contracts and do not pay on time after completion of the work are dubious anyway.