Zenith soon to own big Barracuda asset
ADM Energy have now admitted they have lost ONL14, this is great news for Zenith as it removes any confusion about how the acquisition would play out. There had been lots of suggestions that we would be sharing the license with them, and although these were dismissed by AC in the recent conference call when he stated that the Zenith agreement was exclusive and so there was nobody else involved, it is great to see that it is clear that these would be exclusively ours once we get a deal done. From memory I think ADM suggested that every well drilled here could produce 4000 to 5000 bopd, and they were planning to run a 4 well program so this could be very big. Once we sign Tilapia, and produce from Tunisia and Tilapia, another huge asset such as Barracuda will transform this company to one of the biggest oil plays on the market we have very exciting times ahead.
Redigert 16.11.2021 kl 11:42
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initial finance less than $5 million so it is well under control of zenith, Oil sell will give $6million in Jan 2022. Aslo SLK $10million the reason behind to postponed EBB-3 (workover cost - $3.5 million) is Nigeria.
Redigert 16.11.2021 kl 12:42
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Mdg1
16.11.2021 kl 12:36
6016
Skal de klare å utvikle alt dette må de klare å få en solid avtale med en eller flere finansiellle institusjoner. Kan ikke finansiere så mange felter gjennom emisjoner
"The company believes initial production of 4,000 b/d could be achieved in 2H 2021, with potential to increase productivity via drilling of six wells by 2026 to around 23,000 b/d"
"ADM estimates recoverable resources of 73 MMbbl from the D-1B reservoir with other potential leads to be further appraised following initial production."
We are discussing Tilapia II -10MMbbl so at least 4 times more than Tilapia II if enters into 50% partnership.
As per announcement from RNS 31 - August 2021
"NW OML 141 covers an area of approximately 105 square kilometres in the swamp area of the Niger Delta region. The NW OML 141 RSC contains two discovered fields and one prospective field with an estimated 232.7 million barrels of discovered oil (Degeconek 2019 CPR) with the potential to grow to more than 500 million barrels of Contingent and Prospective Resources with several TCF of prospective natural gas and condensate. "
"ADM estimates recoverable resources of 73 MMbbl from the D-1B reservoir with other potential leads to be further appraised following initial production."
We are discussing Tilapia II -10MMbbl so at least 4 times more than Tilapia II if enters into 50% partnership.
As per announcement from RNS 31 - August 2021
"NW OML 141 covers an area of approximately 105 square kilometres in the swamp area of the Niger Delta region. The NW OML 141 RSC contains two discovered fields and one prospective field with an estimated 232.7 million barrels of discovered oil (Degeconek 2019 CPR) with the potential to grow to more than 500 million barrels of Contingent and Prospective Resources with several TCF of prospective natural gas and condensate. "
Redigert 16.11.2021 kl 12:33
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