Otto Energy - Ölproduzent bereits in 2008 (Seite 189)
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Tuesday, 8 July 2008
Incremental flows gas from Edirne appraisal
INCREMENTAL Petroleum has flowed 2.4 million cubic feet of gas from its Arpaci-2A appraisal well at the Edirne gas project in the Thrace Basin, Turkey.
The gas was flowed from the deepest interval from 340-348m.
Two additional pay zones at shallower levels in the well will be a later stage. All three zones are at a depth of between 160-350m.
Arpaci-2A is the last well in the joint venture partners’ 2008 drilling campaign and was drilled through the same shallow gas sands encountered in Arapci-2, along with two deeper gas-bearing zones.
Incremental said construction of surface facilities is expected to be completed by the middle of next year.
The company added that once production tests are completed, the rig will undergo regular maintenance before being relocated to the Selmo field for workover operations.
Partners in the Edirne Gas project are Incremental Petroleum 55%, Otto Energy 35% and Petraco Energy 10%.
source: www.petroleumnews.net
Incremental flows gas from Edirne appraisal
INCREMENTAL Petroleum has flowed 2.4 million cubic feet of gas from its Arpaci-2A appraisal well at the Edirne gas project in the Thrace Basin, Turkey.
The gas was flowed from the deepest interval from 340-348m.
Two additional pay zones at shallower levels in the well will be a later stage. All three zones are at a depth of between 160-350m.
Arpaci-2A is the last well in the joint venture partners’ 2008 drilling campaign and was drilled through the same shallow gas sands encountered in Arapci-2, along with two deeper gas-bearing zones.
Incremental said construction of surface facilities is expected to be completed by the middle of next year.
The company added that once production tests are completed, the rig will undergo regular maintenance before being relocated to the Selmo field for workover operations.
Partners in the Edirne Gas project are Incremental Petroleum 55%, Otto Energy 35% and Petraco Energy 10%.
source: www.petroleumnews.net
Tuesday, 8 July 2008
Otto calls for partners
OTTO Energy has opened up its data room to prospective farm-in partners for three of its offshore exploration blocks in the Philippines.
The company is looking for exploration partners in the deep water SC 55, which contains the Marantao prospect that could hold a multi-trillion cubic feet gas field or a billion barrel oil field, and SC 51 which offers mid-sized targets such as Argao in moderately deep water.
Otto is also looking for a partner to help appraise the Calauit oil fields in SC 50, which while small, are considered to be potentially commercial in the current price environment.
Chief executive Alex Parks said the company had de-risked the prospects with modern seismic and technical work, and had brought a number of them to “ready-to-drill status”.
He added that by farming down to retain a 25-50% interest in each service contract, Otto could participate in more wells and increase its chance of success.
“We are already receiving interest from a number of companies ranging from mid tier to the majors, who are keen to explore for oil and gas in the Philippines, which has tremendous hydrocarbon potential, but still remains relatively unexplored,” Parks said.
EZ Dataroom is hosting the online data room for each permit, with Indigo Pool marketing the SC 55 deep-water block on Otto's behalf.
source: www.petroleumnews.net
Otto calls for partners
OTTO Energy has opened up its data room to prospective farm-in partners for three of its offshore exploration blocks in the Philippines.
The company is looking for exploration partners in the deep water SC 55, which contains the Marantao prospect that could hold a multi-trillion cubic feet gas field or a billion barrel oil field, and SC 51 which offers mid-sized targets such as Argao in moderately deep water.
Otto is also looking for a partner to help appraise the Calauit oil fields in SC 50, which while small, are considered to be potentially commercial in the current price environment.
Chief executive Alex Parks said the company had de-risked the prospects with modern seismic and technical work, and had brought a number of them to “ready-to-drill status”.
He added that by farming down to retain a 25-50% interest in each service contract, Otto could participate in more wells and increase its chance of success.
“We are already receiving interest from a number of companies ranging from mid tier to the majors, who are keen to explore for oil and gas in the Philippines, which has tremendous hydrocarbon potential, but still remains relatively unexplored,” Parks said.
EZ Dataroom is hosting the online data room for each permit, with Indigo Pool marketing the SC 55 deep-water block on Otto's behalf.
source: www.petroleumnews.net
Kurs in Australien runter auf 0,405 A$ = ca. EUR 0,25 (wahrscheinlich wegen der Produktionsverzögerung in nächste Woche).
Bietet uns Anlegern m. E. noch einmal eine Nachkauf-Chance.
Bietet uns Anlegern m. E. noch einmal eine Nachkauf-Chance.
IPM: Excellent gas flow rates at Arpaci 2A
Philippines Exploration Update
Otto Galoc Update
http://www.asx.com.au/asx/research/CompanyInfoSearchResults.…
Philippines Exploration Update
Otto Galoc Update
http://www.asx.com.au/asx/research/CompanyInfoSearchResults.…
Antwort auf Beitrag Nr.: 34.435.796 von tommy-hl am 04.07.08 07:36:46hallo tommy!
Der Minister hat ja was vom 16.7. gesagt. So wirds dann wohl sein - wozu ist der schließlich Minister?
Der Minister hat ja was vom 16.7. gesagt. So wirds dann wohl sein - wozu ist der schließlich Minister?
Trading Spotlight
Antwort auf Beitrag Nr.: 34.435.740 von kurtanton am 04.07.08 07:10:24Hallo Kurt,
die machen das aber spannend mit ihrem Produktionsbeginn ...
Nun wird es wohl doch erst Mitte Juli, bis das erste Öl sprudelt ...
Tja, Geduld müsste man haben ...
Gruß - Tommy
die machen das aber spannend mit ihrem Produktionsbeginn ...
Nun wird es wohl doch erst Mitte Juli, bis das erste Öl sprudelt ...
Tja, Geduld müsste man haben ...
Gruß - Tommy
First Galoc oil fails to take off again
07/04/2008 | 01:25 AM
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MANILA, Philippines - First Oil from the Galoc oilfield in Palawan province failed to take off again Thursday, contrary to expectations.
Operations have been delayed for seven to 10 more days, company officials said Thursday.
Reynaldo E. Nazarea, treasurer and vice-president of listed Philodrill Corp., said Galoc operations may need more time.
Operators of the oilfield are already behind schedule for a first-quarter launch. Last month, Philodrill said first oil from the wells had been delayed again by typhoon Frank.
"The production vessel just arrived at the site [on June 3] and they are still in the process of setting up the dismantled lines before typhoon Frank hit the country," Mr. Nazarea said in a phone interview.
Galoc comes as a relief for the Philippines, which is trying to cut its annual import bill of $6 billion and is reeling from soaring fuel and food costs that have pushed inflation to record highs.
The setup for the reconnection of the lines to the floating production storage and offloading system that will extract 17,500 barrels per day from the offshore field is estimated to last from seven to 10 days.
Philodrill owns 7% of the Galoc project, which lies some 60 kilometers off the island of Palawan.
Philodrill expects to gain $86 million from a daily production of 22,500 barrels at $125 per barrel.
The Galoc reservoir is some 2,200 meters below the sea floor and is estimated to have reserves of about 23.5 million barrels of oil, which is expected to hike the country’s oil supply in the country by 70% to more than 40,000 barrels daily.
Otto Energy acquired a 31.38% stake in Galoc Production Co. (GPC) in December, with European trader Vitol holding the remaining 68.62%.
GPC operates the Galoc field with a 58.29% interest. The remaining 41.71% is split between Nido Petroleum with a 22.28% share and several Philippine partners. These are Philodrill, Oriental, Forum Energy, Alcorn Gold Resources and Petroenergy Resources own the remaining stake in the field.
The government earlier said the Philippines would earn from the sale of crude oil that will be benchmarked at international prices and with domestic refineries being given priority.
This would translate to $1.4 billion in foreign exchange savings for the country from the start of commercial production until the life of the well expires.
Galoc oil is said to be of high-quality, light, non-waxy and has a medium sulphur content. The new crude will be the first major crude oil addition to the Asia-Pacific region. — Ava Kashima K. Austria, BusinessWorld
07/04/2008 | 01:25 AM
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MANILA, Philippines - First Oil from the Galoc oilfield in Palawan province failed to take off again Thursday, contrary to expectations.
Operations have been delayed for seven to 10 more days, company officials said Thursday.
Reynaldo E. Nazarea, treasurer and vice-president of listed Philodrill Corp., said Galoc operations may need more time.
Operators of the oilfield are already behind schedule for a first-quarter launch. Last month, Philodrill said first oil from the wells had been delayed again by typhoon Frank.
"The production vessel just arrived at the site [on June 3] and they are still in the process of setting up the dismantled lines before typhoon Frank hit the country," Mr. Nazarea said in a phone interview.
Galoc comes as a relief for the Philippines, which is trying to cut its annual import bill of $6 billion and is reeling from soaring fuel and food costs that have pushed inflation to record highs.
The setup for the reconnection of the lines to the floating production storage and offloading system that will extract 17,500 barrels per day from the offshore field is estimated to last from seven to 10 days.
Philodrill owns 7% of the Galoc project, which lies some 60 kilometers off the island of Palawan.
Philodrill expects to gain $86 million from a daily production of 22,500 barrels at $125 per barrel.
The Galoc reservoir is some 2,200 meters below the sea floor and is estimated to have reserves of about 23.5 million barrels of oil, which is expected to hike the country’s oil supply in the country by 70% to more than 40,000 barrels daily.
Otto Energy acquired a 31.38% stake in Galoc Production Co. (GPC) in December, with European trader Vitol holding the remaining 68.62%.
GPC operates the Galoc field with a 58.29% interest. The remaining 41.71% is split between Nido Petroleum with a 22.28% share and several Philippine partners. These are Philodrill, Oriental, Forum Energy, Alcorn Gold Resources and Petroenergy Resources own the remaining stake in the field.
The government earlier said the Philippines would earn from the sale of crude oil that will be benchmarked at international prices and with domestic refineries being given priority.
This would translate to $1.4 billion in foreign exchange savings for the country from the start of commercial production until the life of the well expires.
Galoc oil is said to be of high-quality, light, non-waxy and has a medium sulphur content. The new crude will be the first major crude oil addition to the Asia-Pacific region. — Ava Kashima K. Austria, BusinessWorld
Das Zeitalter der billigen Energie ist vorüber ...
Era of Cheap Energy is Over, Oil Experts Say
by Sinikka Tarvainen - Tuesday, July 01, 2008
The root causes of skyrocketing oil prices remained unclear at the World Petroleum Congress in Madrid this week, but one thing was becoming increasingly evident.
Access to "easy oil" will henceforth be "limited," as Royal Dutch Shell chief executive Jeroen van der Veer put it, while BP boss Tony Hayward spoke of the era of "cheap energy" being over.
The reasons for oil prices doubling within a year divided analysts at the congress bringing thousands of experts to the Spanish capital from Monday to Thursday.
"The reasons for the oil prices are a mystery," said one official from the Algerian energy group Sonatrach, while Qatari Energy Minister Abdullah bin Hamad al-Attiyah spoke of "strange market fluctuations."
The ongoing "oil crisis" was seen as differing from previous ones in that its causes were more complex.
Analysts attributed the soaring prices to a variety of factors ranging from the weak dollar to insufficient investments and refinery capacity, fuel taxes, the appearance of alternative energies, and conflicts such as the tension between Israel and Iran or militant attacks on oil pipelines in Nigeria.
One of the factors boosting oil prices is undoubtedly growing demand in developing countries, whose needs will amount to a quarter of todays global production within two decades, according to figures given by Fu Chengyu, president of the Chinese National Offshore Oil Corporation.
Oil company representatives and the International Energy Agency (IEA) downplayed the role of market speculators, whom producing countries and some European politicians accused of inflating prices.
Representatives of consumer countries expressed doubts over the availability of sufficient supplies, while their counterparts from the Organization of Petroleum Exporting Countries (OPEC) said there were oil cargoes that could not find buyers.
With alternative energies still playing only a limited role, the world will remain dependent on oil for decades to come, and analysts expressed confidence that new projects in Brazil, Russia, the Gulf of Mexico and even conflict-torn Iraq would add to supplies.
Many new reserves, however, are in deep waters or other sites of difficult access, which will make oil extraction increasingly expensive, experts said.
Brazil, for instance, has "major new resources," but they are "technologically one of the most difficult" to reach, ExxonMobil chairman Rex Tillerson said.
Investment in such reserves may require a minimum oil price of up to 80 dollars per barrel to be profitable, said Christophe de Margerie, chief of the French oil company Total.
Rising oil prices have hastened inflation, sparked riots both in developing and industrialized countries, and threatened the global economy with a recessionary impact.
With oil prices unlikely to go back to the low levels seen in previous decades, such problems could persist unless consuming countries start adapting their economies to a higher inflation in the long run, European Union finance ministers warned recently.
source: rigzone.com
Era of Cheap Energy is Over, Oil Experts Say
by Sinikka Tarvainen - Tuesday, July 01, 2008
The root causes of skyrocketing oil prices remained unclear at the World Petroleum Congress in Madrid this week, but one thing was becoming increasingly evident.
Access to "easy oil" will henceforth be "limited," as Royal Dutch Shell chief executive Jeroen van der Veer put it, while BP boss Tony Hayward spoke of the era of "cheap energy" being over.
The reasons for oil prices doubling within a year divided analysts at the congress bringing thousands of experts to the Spanish capital from Monday to Thursday.
"The reasons for the oil prices are a mystery," said one official from the Algerian energy group Sonatrach, while Qatari Energy Minister Abdullah bin Hamad al-Attiyah spoke of "strange market fluctuations."
The ongoing "oil crisis" was seen as differing from previous ones in that its causes were more complex.
Analysts attributed the soaring prices to a variety of factors ranging from the weak dollar to insufficient investments and refinery capacity, fuel taxes, the appearance of alternative energies, and conflicts such as the tension between Israel and Iran or militant attacks on oil pipelines in Nigeria.
One of the factors boosting oil prices is undoubtedly growing demand in developing countries, whose needs will amount to a quarter of todays global production within two decades, according to figures given by Fu Chengyu, president of the Chinese National Offshore Oil Corporation.
Oil company representatives and the International Energy Agency (IEA) downplayed the role of market speculators, whom producing countries and some European politicians accused of inflating prices.
Representatives of consumer countries expressed doubts over the availability of sufficient supplies, while their counterparts from the Organization of Petroleum Exporting Countries (OPEC) said there were oil cargoes that could not find buyers.
With alternative energies still playing only a limited role, the world will remain dependent on oil for decades to come, and analysts expressed confidence that new projects in Brazil, Russia, the Gulf of Mexico and even conflict-torn Iraq would add to supplies.
Many new reserves, however, are in deep waters or other sites of difficult access, which will make oil extraction increasingly expensive, experts said.
Brazil, for instance, has "major new resources," but they are "technologically one of the most difficult" to reach, ExxonMobil chairman Rex Tillerson said.
Investment in such reserves may require a minimum oil price of up to 80 dollars per barrel to be profitable, said Christophe de Margerie, chief of the French oil company Total.
Rising oil prices have hastened inflation, sparked riots both in developing and industrialized countries, and threatened the global economy with a recessionary impact.
With oil prices unlikely to go back to the low levels seen in previous decades, such problems could persist unless consuming countries start adapting their economies to a higher inflation in the long run, European Union finance ministers warned recently.
source: rigzone.com
Antwort auf Beitrag Nr.: 34.398.676 von kurtanton am 29.06.08 09:43:12Galoc muß ja ganz schön wichtig sein für die Philippinos.
Sehe ich auch so. Auf Grund von Regierungsverlautbarungen bin ich auch auf die Aktie aufmerksam geworden vor 1 1/2 Jahren.
Ich finde das einen positiven Fakt, dass die Regierung so hinter dem Projekt steht. Für die geht es natürlich vordergründig um eine bessere Aussenhandelsbilanz. Wenn man soundsoviel Öl nicht mehr importieren muss, und das bei den Preisen, dann macht sich das schon positiv bemerkbar.
Ansonsten sehe ich das auch so, dass mir ein paar Tage mehr oder weniger nichts ausmachen. Verzögerungen sind in der Rohstoffbranche ein Faktor, den man einkalkulieren muss. Planung ist das eine. Praxis das andere.
Die Wetterverhältnisse in der Ecke sind übrigens zu beachten. Zur Zeit viel Tropenstürme und Taifune. Muss man wissen. Auch sonst ist das Wetter dort ein wichtiger Faktor. Kann ein Unternehmen sogar bis an die Pleite treiben - siehe Lafayette Mining. Auch Toledo Mining hat in Berong mit ihrem Nickel-Projekt immer wieder mit dem Wetter (Wind und starke Niederschläge) zu kämpfen. Wobei man wissen sollte, dass Wasser einer Ni-Laterit Mine nicht besonders bekommt.
Bei Öl-Offshore Projekten muss man natürlich auch hier, wie im Golf von Mexiko, die Sturmsaison im Auge behalten.
MfG.
s.
Sehe ich auch so. Auf Grund von Regierungsverlautbarungen bin ich auch auf die Aktie aufmerksam geworden vor 1 1/2 Jahren.
Ich finde das einen positiven Fakt, dass die Regierung so hinter dem Projekt steht. Für die geht es natürlich vordergründig um eine bessere Aussenhandelsbilanz. Wenn man soundsoviel Öl nicht mehr importieren muss, und das bei den Preisen, dann macht sich das schon positiv bemerkbar.
Ansonsten sehe ich das auch so, dass mir ein paar Tage mehr oder weniger nichts ausmachen. Verzögerungen sind in der Rohstoffbranche ein Faktor, den man einkalkulieren muss. Planung ist das eine. Praxis das andere.
Die Wetterverhältnisse in der Ecke sind übrigens zu beachten. Zur Zeit viel Tropenstürme und Taifune. Muss man wissen. Auch sonst ist das Wetter dort ein wichtiger Faktor. Kann ein Unternehmen sogar bis an die Pleite treiben - siehe Lafayette Mining. Auch Toledo Mining hat in Berong mit ihrem Nickel-Projekt immer wieder mit dem Wetter (Wind und starke Niederschläge) zu kämpfen. Wobei man wissen sollte, dass Wasser einer Ni-Laterit Mine nicht besonders bekommt.
Bei Öl-Offshore Projekten muss man natürlich auch hier, wie im Golf von Mexiko, die Sturmsaison im Auge behalten.
MfG.
s.
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