Wonder if we do actually pick up land parcels given we had the seismics and that we have a limit holding size of 500000 acres as permitted what it will mean for our potential reserve size?
We peaked at 8+ cents on Ice1 then 6+ on ann re the switch from horizontal to vertical? (or was it something else...can't recall for the moment) then somehow we managed to drop on seismic internal estimate of a half bill bbl on a few of our conventional cherries (oh yeah they could just be underground lakes of water..yeah right) down to an abysmally low of 3.5c although the only catchers at that SP were the bots...so ok we've been hammered by the manipulation...frankly not excited at SP...at all at this point!
We have seen POO up up up and going upper.
We have derisked with seismics etc.
We have been told at the London conference that our play mirrors Eagle Ford by the guy that pioneered Eagle Ford...yet everyone harps on about flow...REALLY? Sure it's a bit of a risk ...but let's not get carried away shall we...?
Weve heard about new rigs that can drill horizontal 10× what they were previously able to do already in Alaska. Meaning that no of reductions in spuds...all we read about is how much cheaper and efficient shale oil extraction has become. Then we have the fact that we have the sweetest premium oil around. Just the stuff needed to mix with Saudi sour.
Also...nothing factored into SP for gas reserves....but plenty of discussion on getting the Alaskan pipelne going (not a fantasy anymore State taking over)..and who is that Exec that Trumps just put up...you know the Exxon guy?
Now we're waiting on rest of seismics re more info on both unconventional and new conventionals...any day.
The seismics have been in the hands of our golden team for ages...the auction is closed...now if indeed we did bid (that's the surprise I've been going on about)...then we bid on parcels that our team had a clear insight into...and that means they would have cherry picked...so imagine what it means if we end up with our full land limit entitlement...
So no I'm not at all excited at current rise in SP...not mildly...but I'm not buying anymore...I've more than doubled my holdings over the last couple of months and set for Ice2 at these sub 5c prices.
If we bought land there are huge implications...so right now...just waiting for a confirmation. If doesn't come through we we're told...we had plenty and we would benefit by providing passage...but if that was smokescreen...which is my guess...then imagine how confident our team is to have blown our sophs extra $ rather than have held it in reserve in case we have to diddle around with Ice2 in case we get a "crumbly problem" and need to jig the drill a bit...that is without even considering a farm in/conventional JV or TO...
So waiting...double digits...or bust!
(20min delay)