IVZ media thread, page-7551

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Davy Boy

16,641 Posts.

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29/09/24

17:28

Post #: 75893493
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Originally posted by Greenocean: ↑

Unless I am mistaken it is field by field, ie the other prospects in the sg block haven’t been drilled or tested so no outcome can be assigned to them other than exploration.

M2 needs to be finished, then the field delineated by further wells, the 1.3TCF may stand for the area around M2 only as there is no proof of connection until flow testing and draw down results, and no definitive result will come from M1 as it is plugged and abandoned. With the faulting it’s not a given they are in connection.

The good news is the UA looked a lot better at M1 on the flank, no water contact, and more liquid prone. I have no doubt the earlier proposed M2 location will get some attention if 3D proves it up.

The prospects out East will be very interesting if the Dande and Forest are under seal, but there is still the deeper stuff there as well which is reassuring of some result if they drill multiple target wells.

The clock doesn’t start on the Mbuyu MOU until M2 drilling activity is completed, maybe another telling factor in the M2 completion hold up.

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Sg4571 is separate at this stage.
Like I said usually a production licence is granted for an area. It could be a small area around Mk2 but again as I said I don’t know what’s in the Pedpa.
SM said before that a declaration of commerciality brings on certain conditions/responsibilities.
He also said that they could add production wells almost one at a time.
If so it’s a fantastic way to develop a field and will be way way quicker than the norm.

IVZ Price at posting: 7.4¢ Sentiment: Buy Disclosure: Held
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