Appreciate your support Mike. Get in touch and tell me what you like most, what you would like to see more of/less of. My contact details are at the end of every video. ATB, Mike
Thanks Goran. Let me say that when a deep water well costing~$200mm+/- fails to find a very substantial accumulation which may become commercial, we refer to it as a "dry hole". In our TROVE database we will carry "oil shows" but when verbalising in our short video overviews we may say 'dry hole'. At these well costs we expect there will be no return to the Nara feature unless the calibration of the rock physics identifies a major upside, not identified pre-drill. But in exploration, never say never! ATB, Mike
Mea culpa! Our mistake. Great news if it happens earlier than we said, we will correct it in our next update. Cullinan-1X result will have altered the risk assessment for the prospects being considered.
A conflicting news snippet from the investor day presentation : "Pouyanne (CEO) described the the Nara-1X well as a success but said the company would need more work to confirm its commerciality." This is the only written confirmation I've found about Nara. To me.. it sounds it was not completely dry, assuming Pouyanne meant more work on the well, not the Nara location in general. I have a hard time imagining CEO describes a dry well a success and referring to only the technical feat of drilling the well. Patrick is super conservative but seems pretty bullish on Namibia . Wonder how long before the numbers come out.
Thanks Shoppy. Monsieur Pouyanne certainly knows more than we will and happy to be corrected. We'd love to interview him on our channel! As stated elsewhere - such deepwater wells need to prove a substantial accumulation before they are considered for follow-up appraisal drilling, flow testing and ultimately development. Nara-1X may have had thin oil columns/shows throughout - but probably insufficient to declare a commercial success. Technical successes don't move the needle. We still think it is impressive TotalEnergies are continuing to explore and calibrate their seismic anomalies. Venus has now got an appraisal well from which the continuity and extent of the sands will be revealed. The results of the flow test may well be released to confirm there are 'no surprises' We hope for a mid-30s API gravity sweet crude with minimal drawdown on test. Bon chance!
I agree GeoGuy. the problem is the pointer I can see when recording is not visible on the video. There is a special pointer which I unfortunately forgot to activate. I must do better! Apologies.
Sounds like a question an investor might make. We have a consultancy service to advise on individual opportunities. Unlike our TROVE News channel on UA-cam, we have to earn a living and charge for such services. I hope you understand - our channel is a major cost and earns pennies. We too have to earn a living!
I totally understand that, however, it still remains your opinion. These days you have 1000s of experts offering their opinions for free. Deepsea drilling is quite risky as well. @@TROVE-1stSubsurface
Mike, really appreciate Trove insights. Listen to every episode to stay up to date
Appreciate your support Mike. Get in touch and tell me what you like most, what you would like to see more of/less of. My contact details are at the end of every video. ATB, Mike
Another great update, Thankyou. Especially as you are so busy at the moment 😉
You know the adage Mr Paul - "give work to a busy man"
Absolutely
@@TROVE-1stSubsurface
The Nara well did encounter hydrocarbons, but was deemed non-commercial, according to AOI. It seemed that the oil had to a large extent “escaped”.
Thanks Goran. Let me say that when a deep water well costing~$200mm+/- fails to find a very substantial accumulation which may become commercial, we refer to it as a "dry hole". In our TROVE database we will carry "oil shows" but when verbalising in our short video overviews we may say 'dry hole'. At these well costs we expect there will be no return to the Nara feature unless the calibration of the rock physics identifies a major upside, not identified pre-drill. But in exploration, never say never! ATB, Mike
Your video is wrong Galp will drill now in November 2023 back to back wells.
Mea culpa! Our mistake. Great news if it happens earlier than we said, we will correct it in our next update. Cullinan-1X result will have altered the risk assessment for the prospects being considered.
@@TROVE-1stSubsurfaceIt has now been spud, according to UpStreamOnline
Hello what about Uruguay please ?
Latest video, released 11 October, covers Uruguay. Hope you enjoy Abdul. Let me know what you think. ATB, Mike
A conflicting news snippet from the investor day presentation : "Pouyanne (CEO) described the the Nara-1X well as a success but said the company would need more work to confirm its commerciality." This is the only written confirmation I've found about Nara. To me.. it sounds it was not completely dry, assuming Pouyanne meant more work on the well, not the Nara location in general. I have a hard time imagining CEO describes a dry well a success and referring to only the technical feat of drilling the well. Patrick is super conservative but seems pretty bullish on Namibia . Wonder how long before the numbers come out.
Thanks Shoppy. Monsieur Pouyanne certainly knows more than we will and happy to be corrected. We'd love to interview him on our channel! As stated elsewhere - such deepwater wells need to prove a substantial accumulation before they are considered for follow-up appraisal drilling, flow testing and ultimately development. Nara-1X may have had thin oil columns/shows throughout - but probably insufficient to declare a commercial success. Technical successes don't move the needle. We still think it is impressive TotalEnergies are continuing to explore and calibrate their seismic anomalies. Venus has now got an appraisal well from which the continuity and extent of the sands will be revealed. The results of the flow test may well be released to confirm there are 'no surprises' We hope for a mid-30s API gravity sweet crude with minimal drawdown on test. Bon chance!
Thanks for all the info !
@7:30 hard to follow what your talking about ; would've been easier with a pointer or something...
I agree GeoGuy. the problem is the pointer I can see when recording is not visible on the video. There is a special pointer which I unfortunately forgot to activate. I must do better! Apologies.
PEL 87 could be something special.. What's your thoughts?
Sounds like a question an investor might make. We have a consultancy service to advise on individual opportunities. Unlike our TROVE News channel on UA-cam, we have to earn a living and charge for such services. I hope you understand - our channel is a major cost and earns pennies. We too have to earn a living!
I totally understand that, however, it still remains your opinion. These days you have 1000s of experts offering their opinions for free. Deepsea drilling is quite risky as well. @@TROVE-1stSubsurface