mrmoshe hello
The Tassie Shoal projects will most likely be supplied initially by Evans Shoal.
With supply talks due to be carried out this quarter.
As we all know Shell have their share of Evans Shoal on the market.( Roughly 1/3rd of the partnership)
The intrigue for me is whom will take up where Shell leave of.
The intrigue started in earnest when MEO handed Blackwood to ENI for naught, except for regulatory cost involved in carving up Heron (100% MEO) and Blackwood to be 100% ENI.
Question is :- IF Blackwood is not going to be commercial ( MEO view). Why are ENI spending time on holding it?
My feeling all along is that ENI have been telling MEO what is not there, rather than telling what is there.
From the final ASX release 6/1/14 Re Blackwood 2 ,
(Since the last report, in accordance with pre-drilling plans, the well was plugged and abandoned following conclusion of production testing. The rig was released from the drilling location at 14:45 hrs (local time) on 3rd January 2014.
The drilling of Blackwood-2 was an obligation under the NT/P68 Farm-in Agreement (FIA) dated 17th May 2011 between Eni and MEO. Under the FIA and subsequent amendment, MEO’s 50% participating interest share of the well costs were fully carried.)
Tells me absolutely nothing regarding previously drilled resource estimate.
Who is not coming clean ?
From ASX release 9/2/15
MEO’s MD and CEO Peter Stickland, commented on the announcement:
"We have assessed that the Blackwood field is too small to underpin development of the Tassie Shoal Methanol Project and that the value of the resource to MEO is insufficient to warrant incurring further costs. Consequently, we are exercising commercial discipline by withdrawing from Blackwood and focusing our efforts on the Heron gas discovery."
Peter Stickland
Tells me nothing , or does it tell me "exercising commercial discipline" may mean a deal regarding Evans Shoal as a supply for Tassie Shoal is in the wind.(Blackwood will not sit there idle, and Heron (MEO) will be snapped up by the future partners in the Tassie Shoal consortium.
Just my thoughts.
Blackwood & Caldita will have their own path.
Greater Sunrise may be in the supply mix for Tassie Shoal LNG.
Just my thoughts also
Cheers IFINO
