Total SA developer of the Papua liquified natural gas says 2016 will be the year dedicated to finalize appraisal of the Elk Antelope discovery.

It[s paris based media office confirmed this saying Total and its partners are working on a basis of design for the project with the earlier selected operational sites.

"Clarity on resources is key to be abke to initiate next steps.2016 will be decicated to finalyze appriasal of Elk Antelope deiscovery with the aim to complete basis of design and determine all requirements for the project.

In parallel we are setting environmental and social baselines" says compant representative Evgeniya Mazalova .

Total at this moment is fully in charge of Petroleum Retention License-15 operations.

In regards to the operational transition between Total and Interoil Linited, the company said this lasted from August 2015 to December 2015 and is now complete. with Total having full ownership of the project

"It means that Total is in control and performs the operations in line with our HSE(Health Safety and Environment)and operations standards"says Mazalova.

Teams Currently deploy in the ncountry are the Driloling supply chain(logistics and contracts and procurement) Finance,Community relations and HSE staffed with PNG nationals and expatriates.

"Between the office in Port Moresby anbd the PRL-15 operational sites about 60-70 PNG nationals are directlyn under Total management and more of tghem (working on PRL-15 are employed by contractors.

"AS a usual practice, at the beginning of the project we bring an important team of International employess to set up meyhods and governace in line with Total standards,

"More respondsibilites are handed over to the nationals as soon as they get accustomed and famiiar with those

"The number of internationals then decreases progressivekly." Mazalova says.

It further stressed the good relatinship with the partners on this project....

'Palm' pid='66802' datel Wrote:Not so sure; finalize appraisal is on the field with appraisal wells. Again, with what has been said and done to date there has been little to no "over-delivery". Best to expect the same and maybe get a surprise.

If they were not looking to drag this out, they would have said "We are nearly done with our appraisal PRL 15 with A6 results."  Look for A7 to be spud mid year and 1st HALF of 2017 for certification and payment to IOC.  Also look for low 20's to teens on the stock

(02-19-2016, 12:45 AM)jft310 Wrote: This is Total talking a bit more experienced with these type things then the newbies at Interoil .
My guess we drill 7 , get those results and they finalize this year with if successful 1-3 more T's with $300 million plus extra in money . We need that money to bridge into first cargo . This extra cash if it comes will lower any dilution needed to pay overhead for 5 years and our pro rata share of the plant .