Ophir well results disappoint, shares fall

nngu007

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Aug 2, 2010
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Thu Aug 2, 2012 9:38am GMT


Aug 2 (Reuters) - British oil and gas explorer Ophir Energy Plc lowered its resource estimate at its Papa-1 well in offshore Tanzania, sending its shares down as much as 14 percent.

The company said its preliminary analysis indicated an in-place resource of between 0.5 and 2 trillion cubic feet (TCF), well below its previous expectation of 3.1 TCF.

"The range reflects the uncertainty associated with the preliminary analysis of the geological parameters - water saturation, porosity, etc," RBC Capital Markets analyst Al Stanton said in a note.


The well, a part of a joint venture between Ophir and BG Group Plc, encountered an 89 metre gas-bearing column and further analysis will commence shortly to refine the in-place and recoverable resource estimates, the company said.


"It is likely to result in lower ultimate recoverable resources in the play," Oriel Securities' Nick Copeman said.


Ophir's shares were down about 9 percent at 530.5 pence at 0936 GMT on Thursday on the London Stock Exchange.




© Thomson Reuters 2012 All rights reserved
 

Flabbergasted... does our country have Petroleum Engineers? Haya Umeona hawa Ophir walivyofanya au kusema?

Eti Shimo walilochimba na kupata GAS linaloitwa PAPA-1 they expect to have 3.1 trillion TCF; lakini sasa wanasema ni

kati ya 0.5 na 2.5 trillion cubic feet TCF well below expectation...

Hiyo kweli ni well below expectation?????

Unaona wanavyotutesa na kutuzulumu? Hawa Wazungu watataka tupigane sisi kwa sisi kama Zaire ili wale mali zetu

Inatisha kweli, na sisi tunaziti kuwekeana vitisho na kudhalilishana na wao wanachota hiyo GAS...
 
Kumbuka estimates zao zinawaathiri wenyewe kibiashara. Kama wamezishusha kwenye financials zao, anayesuffer siyo sisi. Kampuni yao ndio inapata madhara.
 
Kumbuka estimates zao zinawaathiri wenyewe kibiashara. Kama wamezishusha kwenye financials zao, anayesuffer siyo sisi. Kampuni yao ndio inapata madhara.

Pia inatudhuru sisi kwenye Mikataba... na Ni wajanja kuna ambao tumegoma kusaini nao...
 
tatizo ni kwamba sirikali yetu haina uwezo wowote hata ndotoni kufanya independent study/assessment ili kupata data za uhakika, labda waombe mchina aje kupima pia. Aibu tupu! Tanzania kuna maprofessional kibao wamepiga somo urusi, japan, sweden nk kwanini sirikali inashindwa kucapitalise experience zao? Mungu tuokoe tusije ishia kama nigeria, nchi nyan'ganyan'ga
 
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