Dear all,
Orca Exploration (previously East Coast Energy) states in its last quarterly (Q3 - November 2007) report the following...
"Shortly after the quarter end, successfully completed the SS-10 well, which was tested at rates up to 52 mmscf/d. It
is forecast that the well will be able to flow at a rate in excess of 55 mmscf/d once on production. The well is
expected to be one of the best producers in the field and takes the deliverability of the six wells in the field to greater than 200 mmscf/d."
"Increased Q3 2007 sales of Additional Gas to the power sector by 165% to 1,974 mmscf (an average of 21.5
mmscf/d) compared with 744 mmscf in Q3 2006, at an average price of US$2.19/mcf (Q3 2006: US$1.69/mcf)."
"Sold 442 mmscf of Additional Gas to Dar es Salaam industrial customers or an average of 4.8 mmscf/d. This
represented a 10% decrease on Q3 2006 when 491 mmscf was sold. However, average industrial prices increased
by 11% to an average of US$9.58/mcf (Q3 2006: US$8.63/mcf)."
"Advanced negotiations with the Tanzanian Ministry of Energy and Minerals and TANESCO for the supply of gas to
245 MWs of gas fired generation for a period of 16 years."
"Completed the installation of an additional 8 kilometers of low pressure distribution pipeline to improve security of supply. Four new industrial customers are in the process of being connected from this new line."
"Submitted a proposal to Songas that would enable the gas processing capacity to be increased by approximately 25 –
35 mmscf/d. It is estimated that the proposal would take less than six months to implement and could be introduced
before the third and fourth gas processing trains are installed by Songas."
.....Please note that, given the above figures, the majority of Songo Songo production was sold to the power sector at an average price of US$2.19/mcf.
Another interesting observation from the above figures is although the deliverability of the six Songo Songo wells is expected to be greater than 200 mmscf/d. It appears from the above figures that only a total of 26.3 mmscf/d was sold to the power sector (21.5mmscf/d @ US$2.19mcf) and industrial customers (4.8 mmscf/d @ US$9.58/mcf).
www.orcaexploration.com
Peace,
Marxist
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