Look at geo's post from Aug, 2011 and especially
Post# of 39368
Posted On: 09/30/2012 10:58:03 PM
Look at geo's post from Aug, 2011 and especially whats highlighted in red. Same guy or did a mental break down occur along the way? His post is dated August 2nd yet he suggests buying shares "on 18th of this month". My guess is he was referring to buying on July 18, 2011 since the 18th of August was still 16 days away at the time of the post. Now he's claiming a TECO BOD member resigned but no link to DD or quote from any media. I'm starting to feel sorry for the guy!
geopressure
Tuesday, August 02, 2011 2:29:06 PM
Re: knocknevis post# 18116 Post # of 43220
A well that travels 10,000' in the horizontal direction is about the limit of today's technology (and I've never heard of one longer that 8,000 feet). There might be some examples of ERD wells that go farther than that, but they would cost more to drill than TECO's market cap. The further out you get, the more problems you run into and the slower the drilling becomes (it becomes more and more difficult to put weight on the bit).
Tourism is Belize's number one source of revenue. Vacationist go there to see the pristine beaches, clear water & coral reefs (among other things). I do not believe that they would allow anyone to set up a drilling rig on any of these small islands when the company could have a jack-up rig towed down there. It will be a long time before TECO has the capital to contract out a jack-up rig.
I have taken a look at TECO leases down there, both on and offshore and they do look promising. It's always nice when the oil is only a few thousand feet deep. These wells will be very cheap to drill. My main concern is pipelines, but Belize's government seems to be desperate for money so they probably won't make a fuss with TECO over pipeline right-of-ways through protected jungles and such. A lesser concern of mine is that if their rig breaks down (as rigs are prone to do) and all they need is a small screw or washer to fix it, they will be shut down for a week waiting for that screw or washer.
I bought in on the 18th of this month , but I expect setbacks... and 5,000 BOPD is not going to happen either. These leases are about 1/2 the quality of the neighboring concessions making 5,000 BOPD. I feel like 2,000 BOPD is a more realistic production target, but it still could be a bit high...
geopressure
Tuesday, August 02, 2011 2:29:06 PM
Re: knocknevis post# 18116 Post # of 43220
A well that travels 10,000' in the horizontal direction is about the limit of today's technology (and I've never heard of one longer that 8,000 feet). There might be some examples of ERD wells that go farther than that, but they would cost more to drill than TECO's market cap. The further out you get, the more problems you run into and the slower the drilling becomes (it becomes more and more difficult to put weight on the bit).
Tourism is Belize's number one source of revenue. Vacationist go there to see the pristine beaches, clear water & coral reefs (among other things). I do not believe that they would allow anyone to set up a drilling rig on any of these small islands when the company could have a jack-up rig towed down there. It will be a long time before TECO has the capital to contract out a jack-up rig.
I have taken a look at TECO leases down there, both on and offshore and they do look promising. It's always nice when the oil is only a few thousand feet deep. These wells will be very cheap to drill. My main concern is pipelines, but Belize's government seems to be desperate for money so they probably won't make a fuss with TECO over pipeline right-of-ways through protected jungles and such. A lesser concern of mine is that if their rig breaks down (as rigs are prone to do) and all they need is a small screw or washer to fix it, they will be shut down for a week waiting for that screw or washer.
I bought in on the 18th of this month , but I expect setbacks... and 5,000 BOPD is not going to happen either. These leases are about 1/2 the quality of the neighboring concessions making 5,000 BOPD. I feel like 2,000 BOPD is a more realistic production target, but it still could be a bit high...
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