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NWE - NORWEST ENERGY NL


theflasherman

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In reply to: Brierley on Wednesday 19/11/08 09:41am

Brierley,

 

The only reason P-11 is not going to be brought online sooner is because, P-12 and P-13 will meet the full FPSO capacity of 30,000bopd by mid 2009!

 

The review of P-11 was very very bullish with an additional oil sand in addition to the LK1a, and major additional potential.

 

There was also a mention of 60,000bopd in FPSO capacity with the MV1 available.

 

Given the rapid earning profile, it would be VERY easy for NWE to increase the Investec debt facility . . . no problem at all as far as l am concerned.

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In reply to: King Baz on Wednesday 19/11/08 06:58am

QUOTE
Given the rapid earning profile, it would be VERY easy for NWE to increase the Investec debt facility . . . no problem at all as far as l am concerned.   

 

Hi KB

I would prefer to see a rights issue with attached option

That would be sp supportive and P-12&13 drilling ,and P-7 remediation provides the short term speculative appeal.

Taking on more debt prior to production increase, (which is not guaranteed) is too risky imo.

Will be interesting to see which way they go, hopefully not a quickie to SI's.

 

 

 

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QUOTE (King Baz @ Wednesday 19/11/08 09:58am)

QUOTE
The only reason P-11 is not going to be brought online sooner is because, P-12 and P-13 will meet the full FPSO capacity of 30,000bopd by mid 2009!

This is an unlikely explaination IMO. Firstly we don't know the outcome of P12 and P13 yet.

 

Secondly, P11 timing is about right given planning, construction and implementation timeframe requirements of bringing an offshore well on stream. I suggested a 12 to 18 month timeframe back on 14/10/08.

 

Not sure if this will be a link to the post in question, but I will give it a try.

http://www.sharescene.com/index.php?showto...75entry586353

 

Cheers,

Mosaic

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In reply to: mosaic1996 on Wednesday 19/11/08 01:18pm

"FPSO available with capacity to upgrade to 60,000bopd"

"Potential to produce entire field (NE & SW regions) to a single FPSO

or develop SW as a separate field" <Quotes from AGM Preso.

 

Unless things have changed, Front Puffin's capacity is 40,000bopd.

 

Modec MV1 was previously noted as 32,000bopd

 

Does this refer to another FPSO other than Front Puffin or Modec MV1?

 

Or Possibly Modec MV1 can be upgraded to 60k for the single FPSO option?

 

The full field development schematic from preso, has 3 wells NE & 3 wells SW all tied back to single FPSO. Sure its only an option, but hey, why show that one then.

 

 

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In reply to: raauul on Wednesday 19/11/08 12:33pm

raauul - Front-Puffin capacity is only 30,000bopd, but may be upgraded with swivel ... to handle the 40,000bopd.

 

 

 

mosaic - l disagree.

 

You seem to form opinions based on a higher wisdom, rather than listening to what the company are telling you.

 

Just like you deciding that P-2 and P-9 were definitely not connected, based on the P-11 sidetrack, but as you will see from today's announcement this is not necessarily the case.

 

I thought today's presentation was very bullish, and KT's presentation was very upbeat from what l have heard. Not to mention the spare $300m AED hold and are looking at spending a proportion on acquisitions.

 

With only 5% of that sum they could theoretically buy NWE http://www.sharescene.com/html/emoticons/puke.gif

 

Drilling P-12 and even P-13 would have to be relatively low risk given they are drilling into a producing reservoir!

 

 

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In reply to: handel on Wednesday 19/11/08 02:14pm

Hi Handel,

QUOTE
I am reliably informed that NWE believe potentical GIIP is 400BCF

Who is your reliable source?

 

Is this a P50 (most likely figure, i.e., 50% chance) as the company has staed as 300BCF, or say P10 (unlikely, i.e., 10% chance)?

 

What is the P90 (very likely, i.e., 90%)? I suspect that this would be around 100BCF or less at this early stage.

 

Cheers,

Mosaic

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QUOTE (King Baz @ Wednesday 19/11/08 02:03pm)

Hi KB,

 

QUOTE
You seem to form opinions based on a higher wisdom, rather than listening to what the company are telling you.

I know that it takes time to develop offshore fields. I thought that it would take about 12 to 18 months to bring P11 on stream as I posted in October. Surprise, surprise, I was roughly correct.

 

On the other hand I have no idea where you got the following explaination/information.

QUOTE
The only reason P-11 is not going to be brought online sooner is because, P-12 and P-13 will meet the full FPSO capacity of 30,000bopd by mid 2009!

 

Cheers,

Mosaic

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In reply to: kiril on Wednesday 19/11/08 02:29pm

1 Barrel of Oil is approximately equivalent to 6000 cf of gas on a BTU basis.

 

400Bcf is approximately equal to 66million BOE - this is a GIP figure so you would have to place a recovery factor. Given the tight sands probably 50% - 60% recovery is the best we could get.

 

So if Cobra is commercial in the future NWE share of potential reserves is approx 8million BOE.

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