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Hyperdynamics Corporation Message Board

laurie_nath 4 posts  |  Last Activity: Jun 5, 2014 2:47 PM Member since: Jun 5, 2012
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  • The observation that Sabu should never have been drilled is the prime example of lack of technical skills. Tullow does not want to repeat the same mistakes and they are "gun shy" at this moment with what has happened over the course of their own last 12 months of drilling and failures.

    Sentiment: Strong Sell

  • Ignorance is no excuse here, Tullow had problems with the two Mauritania wells that resulted in being P & A two months ago offshore Morocco. They didn't anticipate the velocity inversions and they didn't set intermediate casing point in fact and lost the first well altogether. By the time they realized that this velocity inversion existed, they had already gone overpressured. They lost the well as result.

    They realized the importance of the pore pressure prediction analysis (particularly, in a clastic regime such as a stacked turbidite fan system) and only prevented the lost of the second well in time but still there was no commercial oil shows and the well was declared P & A. The same problem exists for Fatala and even worst, the water depths are deeper and the turbidite fan system is more complex. Tullow does not want to touch this one with little working knowledge of this area offshore Guinea. The offshore regime is a "minefield" of problems for the untrained and unskilled explorationist, be it a geophysicist/geologist/geomechanics professionnal.

    Basically, they have not enough working knowledge nor the technical skills set to understand this regime south of the GFZ.

    Sentiment: Strong Sell

  • The technical staffs never did any interval velocity inversion work on the stacked gathers and as result have not determine where they go pressure overburden for the Fatala prospect. Further, upon this work neither technical staffs did any pore pressure prediction analysis. This work is crtical to any pre-spud date and this looks ever off into the future or even never to see the contraction of a rig. The rig itself is going to require a large riser assembly to drill to the ultra-deepwater depths of Fatala. One cannot envision Tullow spending these kinds of costs at any time in the future, if ever.

    Sentiment: Strong Sell

  • laurie_nath laurie_nath Jun 5, 2014 2:38 AM Flag

    Charts are showing that this stock was deeply oversold/bottom on full stochastics. Potential for more bad news in the coming days not give anyone confidence that this stock has any legs left.

    Sentiment: Strong Sell

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