I put a thumbs up if that makes you feel better. Nothing happens though till we get news on success or failure in the EOG JV. My guess is we get news fairly soon
ZAZA is prohibited from discussing individual wells or activity regarding the EOG JV. What they can do however is report total production at the end of the quarter and provide guidance.
There is a chance we could see an end of quarter production report as early as next week. Any growth won't be large but it could give indications of what is to come and that would be all that's needed to blast off.
To be fair it is the 3rd quarter production update that will truly tell the story but my fingers are crossed that we get some meat to chew on in the 2nd qtr update.
Actually once the initial 4 to 5 carried wells are drilled and they all should be finish soon ZAZA must pay their 25% share going forward. You are right that EOG calls the shots. That is why we aren't getting news. EOG is keeping all the results quiet for now. The cat will be out of the bag soon though and if the wells are good the land will get drilled, no question. Basically all the EOG land in Walker county is held in a JV with ZAZA.
The fact that the well results are held tight is typically to allow the driller to acquire more land at a reasonable price before the news gets out.
ZAZA has confirmed that they are adding land
The EOG acres are all in Walker county which is considered the Eastern eagleford or Eaglebine
They do have the JV with Sabine in the prime eagleford shale are but it is 25% of a gross 8000 acres I believe. Again drilling carries. The first 2 Sabine wells have done very well
Sibley. ZAZA retains 25% ownership on their 100,000 plus acres transfer to EOG in exchange for the drilling carries and certain producing properties received from EOG. They have also added some small amount of new lands that they control 100%
Pirate. Posted some bad info. Proa 2 reach 900,000 bbl in 15 months, still very strong. Proa 3 is the vertical I believe, so 600 to 700 bopd is very strong. They don't say this in the presentation but it did jog my memory. I specifically asked about this well being a vertical or horizontal and was told it was a vertical. The PR tends to confirm this
"The well was drilled to a depth of approximately 3,920 metres and encountered oil in the Palmar Largo formation, as targeted. The well was perforated in the Palmar Largo formation between the depths of 3,858.5 metres and 3,866.5 metres and was subsequently tested."
So again as a vertical this is a really good well
Pirate the Proa-2 produced a million bbl in around 6 months. Proa-3 is not as strong but still and excellent well. Proa-4 is drilling now but for some reason is a vertical, not horizontal but company advised during a conversation I had with them that this well will likely be side tracked to a horizontal not far down the road.
Would be nice if they would put the presentation back up. I did post a link to the removed presentation over on the IV board
Nothing changes for NTI until the pipeline and distribution from the Bakken and Canada improves. That is not happening anytime soon.
The one thing it may do is push up condensate prices a bit
This should be a big plus for Triangle and all the Bakken players. The bakken gas is very rich in condensate liquids and anything to raise the value of these condensates which are in a HUGE over supply situation is a plus for the bakken boys. Double plus for Triangle and Caliber which just started up their gas plant to extract these condensates
Nice to see the share price continues to show strength. Share price will continue to strengthen as Rubicon gets closer to producing ore at the beginning of the year. Of course that's just my opinion
Pathus, those EUR numbers are only for the heart of the bakken. Declines rates have much to do with how the well was completed, sand, ceramic etc and what type of choke is put on the well when it goes to production
Then you need to consider the density or well spacing per drilling unit. 12 to 16 wells per unit is a whole lot different than 6. Right now the best data out there is from Kodiak
Was someone buying or was someone selling. I know two sides to every sale so maybe the better question a large seller or a large buyer?
If the answer was both then I would guess it was just a prearranged sale
OJ has posted on the IV board that company is shifting gears to prove reserves and re-position themselves for a sale.
To me this may answer the long nagging question. What is holding this stock back. Perhaps a large holder prefers a sale of the company vs developing the assets. If OJs post is confirmed we could see a quick strong move up. To me this provides an answer to that question, what are we missing........
We should know if OJ is correct very soon. I am hoping he is
I think OJ's post may well be the answer we have been searching for. Why is the share price lagging which the story is just so good. I am thinking a major holder has been selling to send a message. They want the company pointed in the direction of a sale. They don't want to stick around for the long haul to see everything developed.
Personally I hope OJ is correct and the story is confirmed next week