MATD/UJO/RBD/ECO/CGX/UKOG/ALBA... | HDYNQ Message Board Posts

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Msg  129841 of 129852  at  11/16/2019 2:11:22 PM  by

JS490


MATD/UJO/RBD/ECO/CGX/UKOG/ALBA...

Just a brief update on some of the various oil & gas explorers that I follow:
 
MATD:
 
Petro Matad had very good flow rates from their test on the Heron prospect. Due to the harsh Mongolian winter season, many operations on the ground shut down, so it could be sometime later in 2020 for action to pick up again.
 
UJO/RBD:
 
Union Jack and Reabold appear to have a potentially large discovery at West Newton, onshore UK, with estimated OIP numbers recently being revised upward.
 
However, further appraisal is needed, and there needs to be a proper flow test done to demonstrate deliverability.
 
Both companies have been in 'fund raising mode' recently.
 
ECO/CGX:
 
Tullow surprised and disappointed many when they recently announced that the Jethro/Joe discoveries appear to be heavier grade, high sulphur oil.
 
In my view, this makes the Guyana acreage for Eco Atlantic and CGX Energy less valuable, at least until proven otherwise, ...particularly for the Tertiary and shallower water prospects.
 
Repsol is currently drilling the Carapa well on an adjacent block. This is a Cretaceous aged prospect, so the hope is that it not only is a discovery, but that the oil is of higher quality. That, of course, remains to be seen.
 
UKOG/ALBA:
 
Work and testing continues at the Horse Hill field, onshore UK. The Kimmeridge has shown some promise, but results have been inconsistent and mixed so far, so clearly more 'proving up' is needed, for this potentially very large oil resource.
 
The Portland interval has been much more encouraging, with good, steady test production being demonstrated over a significant period of time.
 
They recently completed a horizontal well in the Portland, which appears to have captured much of the 'sweet spot' of the reservoir.
 
Flow testing should begin soon, and hopefully they can achieve significantly higher rates than they have from the vertical well, ...so that's something to keep an eye on in the near-term.
 
 
GLA.
 
 
just my opinion 
 
 
 
 
 


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