• First oil al Al-Jumd on Block 56 is expected before the end of next week. The test will last 3-6 months with an initial gross flow rate of 400 bbl/d increasing rapidly to 800 bbl/d (Tethys WI: 65%).
• With only ~US$0.35 mm associated opex per month, this will add cashflow and production that is not included in the FY23 guidance.
• The test is also expected to add contingent resources (we assume ~1.5 mmbbl) that would be converted into 2P reserves on declaration of commerciality.
• Drilling in ....
17 Mar 2023
Tethys Oil AB (SSE: TETY): Imminent first oil at Al-Jumd
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Tethys Oil AB (SSE: TETY): Imminent first oil at Al-Jumd
- Published:
17 Mar 2023 -
Author:
Stephane Foucaud -
Pages:
5
• First oil al Al-Jumd on Block 56 is expected before the end of next week. The test will last 3-6 months with an initial gross flow rate of 400 bbl/d increasing rapidly to 800 bbl/d (Tethys WI: 65%).
• With only ~US$0.35 mm associated opex per month, this will add cashflow and production that is not included in the FY23 guidance.
• The test is also expected to add contingent resources (we assume ~1.5 mmbbl) that would be converted into 2P reserves on declaration of commerciality.
• Drilling in ....