Re: Put it in the right perspective and see what we got in terms of evidence...
posted on
Oct 27, 2009 09:10AM
Developing large acreage positions of unconventional and conventional oil and gas resources
Besides the rating of the " wife " who calls parts of your statement as double talk,I could also pick some items and confute your arguments,but it would take too long.
I just want to expose one single significant item:
You are of the opinion that Schlumberger is staying and waiting to hear from the JV decisions.
Schlumberger as one of the biggest provider for oilfield equipment, isn`t staying or waiting for anything.All the movable wheeled equipment we can see on the pictures are permanently staying and based in Hungary in terms of the variety of companies and operations going on in Hungary.Most of the wheeled equipments are having Hungarian license plates and badges from 2007.
They even have their own gastankers with typical bluepainted driver`s cab and white tanks with blue labels.Hence you can send them away or call them back whenever you want.They just return to their base in Hungary waiting for instructions and new operations for other companies to commence.....
XOM is literally the operator just providing the rest of the staff.Not to forget the rest of the equipment coming from MOL.
(Once the equipment is shipped to Hungary it will stay there for ever......as long as it will be replaced by new equipment after scrapping the old ones.)
Regarding to your wise saying my or other posts mean nothing,same applies to you........in contrary to the rusty cat to chisle it in stone,what is really overegging the pudding !
There is not just one decision outstanding,I am waiting for three....after XOM has decided MOL and FALCON are next in line. And MOL doesn`t look lost to me like a babe in the woods, sniffing a chance to acquire 2/3 of the asset in Hungarian hands after XOM walks away.If Mako is a failure in contrary to the datas induced XOM to enter I feel like shifting the blame twice on XOM.
First simply misreading the datas and second failing as an exploring operator.This kind of short time"in and out behaviour" does not single out XOM from other majors as they try to induce in their promotional film on CNBC twice an hour about unconventional resources.
XOM had the chance to enter Magy 1 or drill a new Magy with 4 or more laterals for the same money,as the datas say, that FO has been lifting the total amount of hydrocarbons out of one single 4 meters section in the Szolnok formation of 3MMcfpd (oil and gas) even without the benefit of a well designed hydraulic frac.This well is still having a current oil and gas pressure between 5 and 6000 PSI. Even taking in account the problems of H2S on this site it was out of all reasons not to take this well into technical considerations.So to speak I really could understand the disagreement and quarrels (rumours) between the operator and Falcon.
To whatever extent XOM s decision will turn the inside out ,it will not be the end of MAKO.