will be interesting to see how the first lot of siesmic in sc 55 comes out whether it can help define the hakeye and b1 prospects should be a very interesting next quarterly thats for sure
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will be interesting to see how the first lot of siesmic in sc 55 comes out whether it can help define the hakeye and b1 prospects should be a very interesting next quarterly thats for sure
latest from transatlantic
"Thrace Basin
On the Edirne license, the Company has drilled the Yolboyu-1, a 6,500-foot exploratory well targeting deeper gas potential to the south of the existing 3D seismic survey. Based upon initial evaluation of the first logs, the well appears to have encountered pay."
so much news out today from otto though none is coming from them directly more so there partners
- Galoc reserves up grade from nido -http://www.hotcopper.com.au/announcementFiles/2010/NDO/d4e60bcf-e9d9-438f-b5bc-3e64bd82bb7b-NDO484602.pdf
-Yolboyu-1 update - http://www.transatlanticpetroleum.co...onference-Call
- Then good morning vietnam - First private petrol company officially launches - http://vietnambusiness.asia/first-pr...ally-launches/
Plenty of news to digest though all of it seems positive wonder what will happen to the sp
hey boysy, i have been so busy of late that i haven't been able to catch up with developments here. i haven't even looked at the reserves upgrade - how did it turnout? i did see the result from Yolboyu - a bit inconclusive, really. although that was always a wild punt, it would have been nice to see it come up with something special...or even a definitive answer. next news is gas being sold by the end of the month. i'm remain very happy with OEL, and may look to increase my holding.
-j
galoc reserves would increase from 1.46mmbl to over 2.5 mmbl based on nidos figures this is very exciting stuff but the market didnt move a notch plenty of good work being done in the back ground . About the recent turkey release im not sure what to read from it one would think they would either know if they had found something commercial or not i guess they need to do more work there but bring on first gas in the plant should be happening anyday now.
transatlantic share price on the up recently hopefully this good news should spread once we get turkey gas online. Then theres sc 55 should get an update on progress and finally a farm out of sc 51 or sc 50 could be on the cards one would think if the veitnam foray is in fact true.
looks as though things are looking on the up and up for oel
- first gas sales this week from turkey
- Update on sc 55 siesmic progress hopefully
- An update must be due on sao nam parnership
- higher oil price must make the other farm out look incresingly economic - sc 50, sc 51 ?
- Galoc update progress on facility upgrade decision ? possible devlopment decision ?
So many questions left unanswered so much upside at this point in time i just hope the company doesnt take the foot off the gas
MANILA, Philippines?The Consortium Operating Service Contract 51 in offshore Argao, Cebu, is spending $36 million to drill an exploration well in the area in the fourth quarter this year.
?No wells have ever been drilled in the waters between Cebu and Bohol, and [its] success could open up a new oil and gas province outside of northwest Palawan,? said consortium member Trans-Asia Oil and Energy Development Corp.
In a filing with the Philippine Stock Exchange, minority investor Trans-Asia Oil said it expected the consortium to begin drilling activities in the East Visayan basin by December 2010.
Australian firm Otto Energy Ltd. has an 80-percent interest and is the operator of the field, while the balance is shared among Alcorn Gold Resources Corp., Trans-Asia Oil and PetroEnergy Resources Corp.
SC 51, which covers 3,320 square kilometer in the East Visayan basin, contains the Argao area, which is reportedly a ?drill-ready prospect.?
http://business.inquirer.net/money/t...-offshore-Cebu
80% * 36 million = $29 million is ottos share. One would think they would like to farm out a bit of this will be interesting to see how it all pans out.
thanks so much for the info, boysy. we must be in for an announcement today (potentially with multiple bits of news). by december OEL may have the funds to go it alone in SC51 - but what a punt that would be. if she came in we would be dancing for days. there's going to be no shortage of excitement in the next 12 months. i'm still considering substantially increasing my holding.
-j
yes jdg i increased my holdings last week glad i got my main holding at 6-7 cents. But i absolutely agree a announcement needs to come out just putting to rest so many questions that have been put out there we have
-sao nam whats the deal ?
-Turkish update gas should be online this week first gas sales this week
- SC 55 siesmic progress any update , perhaps a few nice pictures from hawkeye siesmic ( 600km siesmic SC 55 finished in dec 2009)
- SC 51 what is happening with this ?
- Galoc facility upgrade ?
- Does otto agree with nido galoc reserve upgrade ?
- Results of latest tukish drills ?
- How things are going in regards to otherfarm out opportunities ?
so many questions , so much possibility yet the sp seems to have stagnated at around 11 cents still severly undervalued. The increase in oil price must have the economics of all projects looking better and better.