INFO Agree we are being impatient!! The timelines spelled out by...

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hardmano

16,288 Posts.

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10/07/14

15:26

Post #: 13640720

Originally posted by IFINO ↑

Straight from the Galp website.;

TAO-1 well spudded in Morocco

Galp Energia started its offshore exploration campaign in Morocco, with the drilling of TAO-1 well. The primary objective of this well is the Trident prospect, and it has a potential of 450 mbbl and an estimated probabilityof success of 21%.

It is important to note that this is the first offshore well that is being drilled by Galp Energia as project operator.

The Ralph Coffman jack-up rig arrived on site on June 13, and drilling operations started on June 26. Around 150 people are involved in this operation, including both Galp Energia employees and service providers.

It is expected that drilling of the well takes approximately three months.

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1 Galp Energia share09 Jul 2014, 17:35 GMT€ 12,94(0,00%) + information »

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And from the TPT AGM Presentation :-

The Trident prospect is expected to be penetrated about 50 days after spud.
The guess for the Assaka prospect would be some where around 10 to 15 days less.

Conclusion :- Hurry up and wait.

Cheers IFINO

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INFO

Agree we are being impatient!! The timelines spelled out by our MD were somewhat shorter for Assaka. He said 2-3 weeks and then another 3-4 weeks for Trident. Total up to 49 days = the "within 50 days" in the AGM presentation. His guess was up to 21 days for Assaka then as many as another 28 for Trident.

Your "guesstimate of only 10-15 from Assaka to Trident .. is that based on anything? The MD's numbers didn't seem right to me ... 21 days to go 2900m (3000m from 100m water depth) then another 28 to go the next 600m?

H

TPT Price at posting: 24.0¢ Sentiment: Buy Disclosure: Held

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