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Red Emperor Resources

Back in here with a small punt ....

(ASX & AIM: RMP)
Informed Discussion. No ramping. No deramping.

Back in here with a small punt ....

Post Thu Jun 04, 2015 12:15 pm

Has to be good for a PR/ramp frenzy ahead of and during the drill?
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fatJock
 
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Re: Back in here with a small punt ....

Post Thu Jun 04, 2015 1:44 pm

FJ

Agree but the only concern is we are now up from a low of 1.25 so not sure how much of the frenzy has already taken place. I was too late into Tangiers and got stung.

fatJock wrote:
> Has to be good for a PR/ramp frenzy ahead of and during the drill?
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Mike_Mac
 
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Re: Back in here with a small punt ....

Post Thu Jun 04, 2015 5:24 pm

Still legs in it IMHO. Not after a massive return - as soon as the drill turns Broxy will be ramping it everywhere ;)
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fatJock
 
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Re: Back in here with a small punt ....

Post Thu Jun 04, 2015 11:12 pm

ha ha yes, follow the bear ;)

fatJock wrote:
> Still legs in it IMHO. Not after a massive return - as soon as the drill
> turns Broxy will be ramping it everywhere ;)
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Mike_Mac
 
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Re: Back in here with a small punt ....

Post Sun Jun 07, 2015 8:43 am

Toot toot
Overthebridge
 
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Re: Back in here with a small punt ....

Post Mon Jun 08, 2015 8:58 am

FJ

Good timing!
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Mike_Mac
 
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Re: Back in here with a small punt ....

Post Mon Jun 08, 2015 9:12 am

Yeah nice to see some movement today.

Hopefully just the start - doubt I'll stay in fully until drill results though. Couple of months to grow though :)
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fatJock
 
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Re: Back in here with a small punt ....

Post Mon Jun 08, 2015 9:14 am

FJ

Agreed, now can you just let me know when you are going into Bowleven. :)

Thanks
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Mike_Mac
 
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Re: Back in here with a small punt ....

Post Mon Jun 08, 2015 2:41 pm

Out again, 3.64 to 4.55 - like I said, wasn't in for a massive gain.
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fatJock
 
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Re: Back in here with a small punt ....

Post Mon Jun 08, 2015 2:53 pm

Will be interesting to see if this falls back a bit and whether (incorrectly or not) folks still see RMP and RRL closely aligned and are buying in on the RRL increase.

Volume today has been significant compared to past few weeks.

The penny may drop ....
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fatJock
 
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Re: Back in here with a small punt ....

Post Mon Jun 08, 2015 7:21 pm

FJ
Me too. With the spud not starting for a good few weeks, that is a lifetime on AIM and there are ramp muppets on LSE that RRL profits will come into RMP. Profits, are they taking the f in piss?

Be back to mid 3' s within a fotnight and will jump back in for the spud hype and spike
GiftedBigBollocks
 
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Re: Back in here with a small punt ....

Post Mon Jun 08, 2015 8:23 pm

GBB - yeah, I was thinking a few weeks before movement. With the 25%+ since punt I took some profit.

If it drops back to 3.3-3.5 I'll have another dabble.
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fatJock
 
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Re: Back in here with a small punt ....

Post Mon Jun 08, 2015 9:22 pm

FJ, you and me both.
GiftedBigBollocks
 
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Re: Back in here with a small punt ....

Post Tue Jun 09, 2015 7:27 am

I am expecting one more push up today before consolidation.... good luck guys whatever you decide to do... :)

Best Regards
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Fantasy
 
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Re: Back in here with a small punt ....

Post Tue Jun 09, 2015 10:22 am

i am expecting today the last day before it will start drifting back again to around 3p (or even lower?). low volume trades today and traders from yesterday will not have patience to wait for anothet 1-2 mths. drilling is between mid july to mid aug (per RNS) .
londonz
 
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Re: Back in here with a small punt ....

Post Tue Jun 09, 2015 6:18 pm

Held up well today. I'll have another look at the end of the week.

Can't see much volatility upwards near term given the drilling date ....
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fatJock
 
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Re: Back in here with a small punt ....

Post Tue Jun 09, 2015 10:09 pm

FJ

I bought all mine back today at a premium to selling yesterday.The volume a trade sizes looked like order filling to me and the sp seems to be gaining strength. I think it could carry on but either way, didn't want to miss the pre spud and spud excitement! Its a good few weeks off but these could be held due to blow free float. Time will tell.
GiftedBigBollocks
 
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Re: Back in here with a small punt ....

Post Tue Jun 09, 2015 11:27 pm

GBB - I'll keep an eye on it.

It closed lower than I sold so I'm not upset.

Personally I still think it'll drop under 4 in the next fortnight.
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fatJock
 
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Re: Back in here with a small punt ....

Post Wed Jun 10, 2015 10:35 am

another to look at would be JLP

looks like those in placing in JLP last month are long term holders as they are not selling.

AMC shooting near £150mcap since licence approval in russia, but with no income revenue as yet (they will need to raise funding for progressing mine)

JLP already have some income and will be generating revenue and not to mention will get more cash on licence approval (will get around 6m?) as part of small sale of the minority assets.

as such, JLP can and hopefully will rerate like AMC, going to double digit soon after mining licence is approved. platinum project worth 800m to JLP

buy and hold.
londonz
 
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Re: Back in here with a small punt ....

Post Wed Jun 10, 2015 10:37 am

Back in GBB.

You could be right about free float.
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fatJock
 
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Re: Back in here with a small punt ....

Post Wed Jun 10, 2015 10:48 am

i sold a bit RMP... just in case.
londonz
 
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Re: Back in here with a small punt ....

Post Wed Jun 10, 2015 11:00 am

5.35 just paid! Something's going on. Question is is it just bluster or something else. We are still weeks away from drill starting.
FUBAR@Birth
 
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Re: Back in here with a small punt ....

Post Wed Jun 10, 2015 11:07 am

I know Fubs. I suppose the question is how close do you leave it before the early value is gone?

Hmmmm. I'll sit on my hands this time and evaluate during drill.
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fatJock
 
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Re: Back in here with a small punt ....

Post Wed Jun 10, 2015 12:54 pm

anyone got a scoobies as to why RMP are going vertical ?
I keep forgetting to sell out at work & each day it carries on going up

It cant be the excitement of the drill weeks away ?
Something to do with Georgia & maybe RRL share of ?
Or a rise in order to raise some money ?

Nice to see something blue anyway !

Even nicer to see OMA hasn't a view(s) (only kidding OMA) :-)
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Loadsamoney
 
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Re: Back in here with a small punt ....

Post Wed Jun 10, 2015 12:57 pm

I've come to the conclusion that it is the forthcoming drill fella.
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fatJock
 
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Re: Back in here with a small punt ....

Post Wed Jun 10, 2015 1:04 pm

fj....but that's weeks away isn't it ?

a bit of premature drill-elation me thinks !
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Loadsamoney
 
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Re: Back in here with a small punt ....

Post Wed Jun 10, 2015 1:10 pm

looks like slowly loosing momentum... another 4 weeks at least before drill
londonz
 
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Re: Back in here with a small punt ....

Post Wed Jun 10, 2015 2:07 pm

It is weeks away. Like I said in PM though, spose it depends if folks are buying in now to avoid the inevitable herd once the PR rolls?
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fatJock
 
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Re: Back in here with a small punt ....

Post Wed Jun 10, 2015 2:23 pm

i think it is all pre drill hype. i think the expectation is that definite drill date will be announced late June and that there will be a PR campaign around then, so i guess some people are doing buy and hold now for spud
LondonCharlie
 
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Re: Back in here with a small punt ....

Post Wed Jun 10, 2015 3:45 pm

from RNS.... not too far guys... :) Good luck

The window for commencement of mobilisation to the Hawkeye-1 drilling location will be between 17 July and 15 August 2015. Key services and equipment will continue to be mobilised and secured by Otto in the period leading up to this date....
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Fantasy
 
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Re: Back in here with a small punt ....

Post Wed Jun 10, 2015 3:53 pm

or more deals being brokered with $6m in hand?? more deals + potential placement pre-spud a possibility...

Good luck all..

Best Regards

FUBAR@Birth wrote:
> 5.35 just paid! Something's going on. Question is is it just bluster or
> something else. We are still weeks away from drill starting.
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Fantasy
 
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Re: Back in here with a small punt ....

Post Wed Jun 10, 2015 6:33 pm

Fantasy, do they really have $6m in hand ?
I must have missed something but I thought they had that & spend some/most on this 30% drill ?

Fantasy wrote:
> or more deals being brokered with $6m in hand?? more deals + potential placement
> pre-spud a possibility...
>
> Good luck all..
>
> Best Regards
>
> FUBAR@Birth wrote:
> > 5.35 just paid! Something's going on. Question is is it just bluster or
> > something else. We are still weeks away from drill starting.
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Loadsamoney
 
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Re: Back in here with a small punt ....

Post Wed Jun 10, 2015 6:56 pm

Loadsa. They're valued at almost cash and with their contribution to the drill they'll still have money left.

Admittedly rampy article below gives some detail. Ignore the 20 bag statements :)

http://catalysthunter.com/oil-gas/rmp/1 ... /20150505/

Spend capped at US$5.625M with seemingly Aus$13m in the bank.
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fatJock
 
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Re: Back in here with a small punt ....

Post Wed Jun 10, 2015 9:32 pm

16:08:50 5.28 1,800,000 O 4.76 5.10

That's quite a buy going through near end of today.

When you look at how many shares traded today and compare to traded range shares then consider how rmp have in circulation compared to range, it's quite scary
FUBAR@Birth
 
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Re: Back in here with a small punt ....

Post Thu Jun 11, 2015 10:33 am

per iii confirmed by GB. it seems drilling could take place the earliest is 17 Aug ( Maersk have 30days to prepare starting from 17 July) and could well be 17th Sep.

so assuming delays as always, the drilling will start 17th sep. 3 mths waiting time..
londonz
 
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Re: Back in here with a small punt ....

Post Fri Jun 12, 2015 8:00 am

After expenditure of this well, which is planned in Jul/Aug - Brandy mentioned in one of tip tv interviews that RMP has ~6m to spend..answering to question - is he looking for similar opportunities...

worth looking at their latest financials... will have a look as well..

Best regards

Loadsamoney wrote:
> Fantasy, do they really have $6m in hand ?
> I must have missed something but I thought they had that & spend some/most on
> this 30% drill ?
>
> Fantasy wrote:
> > or more deals being brokered with $6m in hand?? more deals + potential
> placement
> > pre-spud a possibility...
> >
> > Good luck all..
> >
> > Best Regards
> >
> > FUBAR@Birth wrote:
> > > 5.35 just paid! Something's going on. Question is is it just bluster or
> > > something else. We are still weeks away from drill starting.
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Fantasy
 
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Re: Back in here with a small punt ....

Post Fri Jun 12, 2015 1:34 pm

Hopefully the drill will have some success and they will use the funds to take part in another on the site. I wouldn't be surprised to see a capital raising at some point with a buoyant SP.

Fantasy wrote:
> After expenditure of this well, which is planned in Jul/Aug - Brandy mentioned in one
> of tip tv interviews that RMP has ~6m to spend..answering to question - is he looking
> for similar opportunities...
>
> worth looking at their latest financials... will have a look as well..
>
> Best regards
>
> Loadsamoney wrote:
> > Fantasy, do they really have $6m in hand ?
> > I must have missed something but I thought they had that & spend some/most
> on
> > this 30% drill ?
> >
> > Fantasy wrote:
> > > or more deals being brokered with $6m in hand?? more deals + potential
> > placement
> > > pre-spud a possibility...
> > >
> > > Good luck all..
> > >
> > > Best Regards
> > >
> > > FUBAR@Birth wrote:
> > > > 5.35 just paid! Something's going on. Question is is it just bluster
> or
> > > > something else. We are still weeks away from drill starting.
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Mike_Mac
 
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Re: Back in here with a small punt ....

Post Tue Jun 16, 2015 10:12 am

Ah, I never realised there was still some life on this old board!!

I was accumulating these bit by bit 6 months ago: Target 35-40m mcap around drilling phase, roughly 10p I reckon. The fireworks have yet to start, imo.

Best of luck!

cheers
DD
Diamond Don
 
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Re: Back in here with a small punt ....

Post Tue Jun 16, 2015 10:35 am

what does RMP have that RRL doesn't
im struggling to understand
kemp91
 
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Re: Back in here with a small punt ....

Post Tue Jun 16, 2015 3:07 pm

Some cash, a new drill project with an upcoming spud? Consistent (some would say consistently bad) management. No stat demand from a creditor. Small number of shares.
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fatJock
 
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Re: Back in here with a small punt ....

Post Tue Jun 16, 2015 7:38 pm

Not bad finish today all in all, slowly slowly catchy monkey !
FUBAR@Birth
 
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Re: Back in here with a small punt ....

Post Wed Jun 17, 2015 11:34 am

kemp91 wrote:
> what does RMP have that RRL doesn't
> im struggling to understand


Confirmed interest from Shell and a big drill that rivals Puntland.

http://manilastandardtoday.com/mobile/2 ... keye-well/
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SASP (the Legend)
 
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Re: Back in here with a small punt ....

Post Wed Jun 17, 2015 11:07 pm

Good article more focussed on Otto but goes into the upcoming drill in some detail.

Suggests we are waiting for end of Ramadan for mobilisation of rig which is 17 July. Also appears to give confirmation that if PNOC does farm in it will take 15% of Otto's share and not impact on RMP's share of the cake.

Worth a read if you have an interest in rmp

http://www.energynewspremium.net/StoryV ... =826951023§ion=Asia+Watch§ionsource=s1384047&aspdsc=yes

Fubs
FUBAR@Birth
 
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Re: Back in here with a small punt ....

Post Wed Jun 17, 2015 11:49 pm

OTTO ENERGY
Hawkeye critical test of Palawan prospectivity
Wednesday, 17 June 2015
Haydn Black
THERE aren’t many rank wildcat deepwater wells likely to be drilled this year, much less wells that could completely transform its host nation’s energy mix, or wells that are basically being funded by a former joint venture partner. Yet that is exactly the situation Otto Energy finds itself in as it prepares to spud the Hawkeye-1 well, off Palawan Island in the Philippines.
Time will tell if BHP made the smart decision or if it made a monumental blunder two years ago, but in any case it didn’t terminate its interest in the SC55 joint venture easily.
After funding seismic, past costs and other work, it agreed to pay $US3 million simply to walk away, with promise of $25 million if Otto successfully completes the well.
All up, BHP is believed to have spent $60 million within SC55, primarily working up the Cinco carbonate target it wanted to drill.
With BHP gone, Otto negotiated some attractive terms from its former partner and the local government that took the pressure off, refocused the SC 55 joint venture on its favoured prospect, Hawkeye, and then did what BHP was unable to do and secure a suitable rig.
The clastic Hawkeye prospect was originally identified on 2D seismic originally acquired by Otto in 2007 and further defined with the 600 square kilometres.
It has a best estimate 480 million barrels of oil-in-place, and will be one of the most important wells ever drilled in the Philippines if it is a discovery.
Spudding of the Hawkeye-1 well could happen within as little as four weeks, Otto CEO Matthew Allen told Energy News.
The approvals are in place, and as soon as Ramadan ends on July 17, Otto hopes the Maersk Venturer rig will start mobilisation.
The rig, which entered service in 2014 by drilling a number of wells for Total, is expected to take just 23 days to reach the target, culminating a decade-long journey for Otto in the Philippines.
Hawkeye-1 will be logged, but not tested as a cost-saving exercise, a common-sense decision considering Otto and its partners, TransAsia, Red Emperor Resources and potentially the Philippines National Oil Company, are all relatively small concerns.
If the PNOC deal doesn’t close, there are even a few other potential companies interested in taking a punt on Hawkeye, Allen said, so Otto expects to have around 78.18% working interest at worst, and at that level would be substantially carried for the estimated $US30-38 million campaign.
PNOC is keen to take a 15% interest, which would leave Otto with 63.18%.
“The objective is to intersect the reservoir intervals,” Allen told Energy News.
“We will wireline log and possibly use MDT depending on what we see in the well.”
Success will transform the company and open up a new oil province in the nation given Hawkeye-1 will be the first test in the southern Palawan region of deepwater play type, and one of the first 3D-defined targets.
Past drilling has been in the shallower waters, typically in less than 100m of water, but there has been little deeper water exploration.
There are just 150 wells in the entire Palawan Basin, and almost none in the deepwater.
Geologically, Otto believes the deepwater areas have not been affected by the thrusting coming out from Palawan Is that has increased the subsurface disturbance closer to Palawan Is.
“We believe that none of the inboard shallow wells have succeeded because of drilling in the wrong location,” Allen said.
“Out in the deeper water you start to get less interruption and disturbance from the Palawan Shelf, and in this setting we see a lot of evidence of charge, consistent with what happened to the north around the Malampaya and Galoc fields.”
Allen says about 30 million barrels would be economic, which is below the P50 potential assessed 112MMbbl recoverable.
Hawkeye is similar to Murphy Oil’s Kikeh field or Santos’ recent Bestari discovery in Malaysia.
“These deepwater clastics are still being found out there, but we think the lack of exploration in this area is a key issue,” Allen said.
Allen said Hawkeye will be the first 3D defined deepwater well in the Philippines, and because there is support from DHIs and flatspots, and as there are analogues, the company is internally giving itself a 27% chance of success.
The will be drilled on the crest of the structure, and the company expects to find gas-charge in good reservoir, with the expectation there is gas over oil.
There are gas chimneys in the adjacent area, consistent with gas migrating through the seafloor and there are pockmarks on the sea bed.
Hydrocarbons have been seen in the area, with trapping in the major risk. Given both prospects are mapped over some 50 square kilometres, the structures are large enough to host “Malampaya-sized” volumes of oil and gas.
Malampaya is the Philippines’s big enigma – a large 3.7 trillion cubic feet gas field that, since its discovery in 1992. The field is vital to the local economy, and common-sense suggests that Malampaya didn’t develop in a vacuum and should have siblings somewhere.
Hawkeye is targeting the Pagasa Formation, a clastic sandstone target similar to the Galoc field that Otto owned for a number of years.
Success drilling the clastic Hawkeye-1 means Otto will want to push forward with appraisal drilling, and it will be extremely tempting to drill the adjacent Cinco as quickly as possible.
Cinco, BHP’s favoured target, is analogous to Malampaya, which is located 400km northeast of the permit. It is one of a trend of carbonate prospects and leads and alone has potential for 2.4 trillion cubic feet of gas in place.
With encouragement, Otto would probably seek to farm out the discovery for an appraisal as deepwater environment is not a natural fit for a junior.
Failure will probably see Otto exit the country altogether, although that could be a six-month process.
“There is a scenario where we don’t see any hydrocarbon in the well at all, but we think that is pretty unlikely,” Allen said.
“At the best, if we have a stonking great oil leg below a gas cap we will probably move quickly to appraise it.
“Significant gas would open up the carbonate play, but Otto would not be the natural owner of that.”
Given the size of the prize, Allen says a large discovery could not only meet a large share of domestic demand to replace the existing coal-fired power stations and backfill Malampaya, but open up an LNG sector given the major gas markets are just three to four days sail away.
The nation imports over 90% of its oil requirements, and while Malampya is a boon to the local power sector, even with new compression being installed this year it will be gas-short within a decade.
Beyond SC 55 Otto has a 100% interest in SC 73, an 8440sq.km block offshore Mindoro with water depths ranging from 100m to 1300m.
Oil was discovered to the north in the 1990s at Maniguin and there are oil seeps the Mindoro Island region.
SC 73 is located in the southern part of the Mindoro Basin – Cuyo Platform, a continental rift basin located offshore the Philippines.
The company’s low cost work program is to spend about $800,000 reprocessing the existing 2000km of 2D seismic. If it thinks there is anything interesting it will enter the block’s next phase which requires new 2D seismic.
If not, it could drop the block and it is conceivable that in early 2016 Otto will have no ongoing interests in the Philippines for the first time since it signed a deal to develop the Calauit oil field in 2005.
Beyond the Philippines Otto has also a “plan B” in Africa.
The company, which floated in 2004 to drill some Turkish gas assets, teamed up with Swala Energy in 2010 to add some balance to its portfolio, believing that the well-trodden path of shooting seismic and farming out prospects is a dying model.
Tanzania offers wildcat onshore projects, with cost structures more viable to a company such as Otto.
Two wells will be drilled next year, and Swala recently farmed out to India’s giant Tata group, to help fund its share of well costs.
The drilling of the two wells will cost Otto $5 million each, with the 120MMbbl Kito prospect likely to be one of the firsts tests based on the existing data.
Otto does not need to farm-down, but may look to reduce its risk from 50%, depending on what the pre-drill data suggests.
Allen said the company is open to securing further interests along the East African Rift System, but it is more focused in to find a development or near-term production asset with near-term upside, probably in the broader Pan-Asian region.
The company expects to have around $50 million in the bank following a recently approved capital return.
Allen said Otto knows that if it wants to join AWE or Beach Energy in the $300-$500 market capitalisation club it knows it needs not be held captive to a single asset.
Diamond Don
 
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Re: Back in here with a small punt ....

Post Thu Jun 18, 2015 12:35 am

rmp guys now in UK
expect the usual PR ramping, cap raising, discussion about another new project and the sp to rocket in JULY

our time has come emperors - good luck
mathran
 
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Re: Back in here with a small punt ....

Post Thu Jun 18, 2015 11:07 pm

I hate you smug bastards in this board !!!!! Lol
kemp91
 
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Re: Back in here with a small punt ....

Post Fri Jun 19, 2015 3:14 pm

will sp stop retracing and bouncing back soon?
londonz
 
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Re: Back in here with a small punt ....

Post Sat Jun 20, 2015 11:46 pm

A check on Shipline app shows Maersk Venturer is still laid up in Brunei bay where it's been since 17 May.

Info is that it will take approximately 1 day for the ship to reach the drill site once it eventually sets off from Brunei so not a lot of time needed between RNS to say it's mobilised and being onsite on its target and spudding commenced. My understanding is that they are waiting for end of Ramadam before mobilising which depending on circumstances will be 17 July or sometime before which ties in with the drilling window Otto have of a month starting on 17 July.

Details of the ship below for anyone interested

http://www.maerskdrilling.com/en/drilli ... ifications

Fubs
FUBAR@Birth
 
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Re: Back in here with a small punt ....

Post Sun Jun 21, 2015 3:40 pm

Of course this will have nothing to do with the control of the waters and more importantly the natural resources under it! Bit close to the Phillipines and the upcoming drill but shouldn't affect it.

http://www.bbc.co.uk/news/world-asia-china-33166981
FUBAR@Birth
 
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Re: Back in here with a small punt ....

Post Mon Jun 22, 2015 4:16 pm

this is interesting for those who didnt see it:

http://catalysthunter.com/oil-gas/rmp/1 ... /20150505/
londonz
 
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