Cambodia, KrisEnergy sign deal to develop offshore oil field
- SternAAlbifrons
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Re: Cambodia, KrisEnergy sign deal to develop offshore oil field
Market Capitalisation US$909.3 million at 30 September 2015
From a KrisEnergy financial report 2015 - 12 months after they bought out Chevron for US$60 mill.
Market Cap, US45 mill when their shares were suspended from trading 9 months ago.
(and ps, the auditor has still not signed off on last year's accounts)
Now worth Zero, minus approx US$600 of debt.
Not a bad effort - burned thru 1.5 bill of value in a little over 5 years.
Now, do you see why all those grubs in white shirts and ties who grabbed the biggest slice of all that - it was not mostly spent on geologists and hard hats in the field - desperately wanted to keep the show on the road for as long as they could?
Not a bad effort again. They pulled out another $200 mill in the past 12 months. (according to my rough numbers)
From a KrisEnergy financial report 2015 - 12 months after they bought out Chevron for US$60 mill.
Market Cap, US45 mill when their shares were suspended from trading 9 months ago.
(and ps, the auditor has still not signed off on last year's accounts)
Now worth Zero, minus approx US$600 of debt.
Not a bad effort - burned thru 1.5 bill of value in a little over 5 years.
Now, do you see why all those grubs in white shirts and ties who grabbed the biggest slice of all that - it was not mostly spent on geologists and hard hats in the field - desperately wanted to keep the show on the road for as long as they could?
Not a bad effort again. They pulled out another $200 mill in the past 12 months. (according to my rough numbers)
Last edited by SternAAlbifrons on Thu Apr 08, 2021 5:08 pm, edited 1 time in total.
Re: Cambodia, KrisEnergy sign deal to develop offshore oil field
A refinery has been in the construction phase for some time now.
- SternAAlbifrons
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Re: Cambodia, KrisEnergy sign deal to develop offshore oil field
I thought it was stalled. ??
the Grand Plan industry is still booming tho'.
a perennial - they do it so well here
the Grand Plan industry is still booming tho'.
a perennial - they do it so well here
Re: Cambodia, KrisEnergy sign deal to develop offshore oil field
Only temporarily.I thought it was stalled.
It is due for completion any time soon.
Meant to be state of the art. No wood burning frac columns.
- SternAAlbifrons
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Re: Cambodia, KrisEnergy sign deal to develop offshore oil field
"temporarily suspended due to funding issues" < Nov 2020
ie, the bankers don't see the economics
Has that been overcome?
My reading is that there is a short-medium term oversupply of refining capacity - especially in this region.
The changing fundamentals of oil may extend that further.
??
ie, the bankers don't see the economics
Has that been overcome?
My reading is that there is a short-medium term oversupply of refining capacity - especially in this region.
The changing fundamentals of oil may extend that further.
??
- canucklhead
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Re: Cambodia, KrisEnergy sign deal to develop offshore oil field
My comments were ironic,
Viz the comment regarding wood burning fractionating columns.
Viz the comment regarding wood burning fractionating columns.
- SternAAlbifrons
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Re: Cambodia, KrisEnergy sign deal to develop offshore oil field
KrisEnergy - On target! (that one ^^ unfortunately)SternAAlbifrons wrote: ↑Mon Apr 05, 2021 2:25 am For the first time in the decades long history of this project, events will now unfold very quickly.
The decision will possibly be made as early as this month,
and probably announced next month.
Almost certainly all the i's will dotted and the t's crossed by June 30.
This announcement cancels KE's restructuring - the realities of the field has finally forced parent Keppel Corp and major banker DBS to pull the plug. It heralds the extinction of the company, very soon now.
And the Cambodia Block A concession will almost certainly be cancelled.
https://krisenergy.com/default/assets/F ... il2021.pdf
- SternAAlbifrons
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Re: Cambodia, KrisEnergy sign deal to develop offshore oil field
Oil Industry predictions
A new source - but generally in line with the track record of the worlds greatest journalists.
All Posts
April 2021 Energy update
31 March 2021|Energy updates
Towards the end of the month we have had a full moon in the horoscope sign of Aries. This signifies that the end of March may have felt turbulent in relationships and energy’s may have felt more emotional than usual. There might in fact have been some fiery climaxes to the end of the March for you as the full moon is trying to find the yin and yang and balance of Libra.
So how does this effect April? As there has been waves of energy shifts in the end of March, these were necessary to create balance and herald a new start. April is one of the most powerful and positive months, with the energy around us feeling lighter and blessed. Run with the energy this month to create a better life, you and start over again. Life goes in circles it is these cycles that create the yin and yang that we need to experience in our lives for the learning journey we have chosen.
April heralds a new cycle, a wiping the slate clean, an energy of hopefulness. It is a month to be mindful of your dreams also to be present. Time to forget the past as this is a time for rebirth and laying down positive intentions as the law of attraction is stronger this month.
This is a month where the veils of the physical and energetic are thinner, don’t be surprised if you receive more messages and feel strong energetic intuition. Invest time this month to practice mindfulness and meditate to tune into this strong energy. If you are making decisions this month allow your higher self to download the information from energy, above all keep faith this month, keeping your intentions focused. Even if you can’t at this moment see your dreams - they are materialising.
A month to pursue your dreams
Thank you
Carrie
A new source - but generally in line with the track record of the worlds greatest journalists.
All Posts
April 2021 Energy update
31 March 2021|Energy updates
Towards the end of the month we have had a full moon in the horoscope sign of Aries. This signifies that the end of March may have felt turbulent in relationships and energy’s may have felt more emotional than usual. There might in fact have been some fiery climaxes to the end of the March for you as the full moon is trying to find the yin and yang and balance of Libra.
So how does this effect April? As there has been waves of energy shifts in the end of March, these were necessary to create balance and herald a new start. April is one of the most powerful and positive months, with the energy around us feeling lighter and blessed. Run with the energy this month to create a better life, you and start over again. Life goes in circles it is these cycles that create the yin and yang that we need to experience in our lives for the learning journey we have chosen.
April heralds a new cycle, a wiping the slate clean, an energy of hopefulness. It is a month to be mindful of your dreams also to be present. Time to forget the past as this is a time for rebirth and laying down positive intentions as the law of attraction is stronger this month.
This is a month where the veils of the physical and energetic are thinner, don’t be surprised if you receive more messages and feel strong energetic intuition. Invest time this month to practice mindfulness and meditate to tune into this strong energy. If you are making decisions this month allow your higher self to download the information from energy, above all keep faith this month, keeping your intentions focused. Even if you can’t at this moment see your dreams - they are materialising.
A month to pursue your dreams
Thank you
Carrie
- SternAAlbifrons
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Re: Cambodia, KrisEnergy sign deal to develop offshore oil field
Today was always going to be a big day.
This is the death notice for the Apsara field. - effectively, not quite yet formally.
I think there has been some hard decisions made on the company's financials today also. We will probably hear about that next week.
"Estimated ultimate recovery from the five development wells is likely to be a small fraction
of the pre-development estimates primarily due to significantly lower volume of
hydrocarbon-in-place connected to the wells and the geological complexity resulting in
smaller oil accumulations;
• Additional contributing factors for the underperformance include:
o Performance data indicate that pressure depletion is the dominant recovery
mechanism with little to no evidence of water support, resulting in a lower recovery
factor; and
o Lower-than-anticipated well productivity may be due to potential formation damage
in the oil-bearing zones.
While the Company is evaluating whether there are any reasonable remedial actions to undertake in
order to try and improve production rates, such remedial action has limited potential to increase well
productivity (if at all) and is not expected to materially improve total oil recovery due to the fixed
configuration of the subsurface reservoirs."
and more
https://krisenergy.com/default/assets/F ... il2021.pdf
This is the death notice for the Apsara field. - effectively, not quite yet formally.
I think there has been some hard decisions made on the company's financials today also. We will probably hear about that next week.
"Estimated ultimate recovery from the five development wells is likely to be a small fraction
of the pre-development estimates primarily due to significantly lower volume of
hydrocarbon-in-place connected to the wells and the geological complexity resulting in
smaller oil accumulations;
• Additional contributing factors for the underperformance include:
o Performance data indicate that pressure depletion is the dominant recovery
mechanism with little to no evidence of water support, resulting in a lower recovery
factor; and
o Lower-than-anticipated well productivity may be due to potential formation damage
in the oil-bearing zones.
While the Company is evaluating whether there are any reasonable remedial actions to undertake in
order to try and improve production rates, such remedial action has limited potential to increase well
productivity (if at all) and is not expected to materially improve total oil recovery due to the fixed
configuration of the subsurface reservoirs."
and more
https://krisenergy.com/default/assets/F ... il2021.pdf
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