'sageo' pid='52452' datel Wrote:

'johnwgrant' pid='52445' datel Wrote:

'jft310' pid='52441' datel Wrote:No idea about A 4 . I view the last slides and see a feeder system to E/A including Raptor and Bobcat . Raptor has some type hydrocarbons and Bobcat is drilling the Kapua limestone which is where the hydrocarbons are supposed to be . Raptor also reaches into PRL 15 so worst case Raptor could help feed the E/A planned build and maybe more .

Not to be picky, but, aren't they already testing at Bobcat right now?

John- They should be testing. Ran the wireline logs a couple of weeks ago (if my understanding is correct). Very perplexing as to why we don't get some kind of report. ( I believe we were told" we will report results as we get them" or words to that effect). At this time that does not seem to be true. GLTALs.

They have been strangely reluctant to give "partial" results (reasons unknown although there has been plenty of speculation).  They (IOC) have stated that they will release well results for each well as they become available.  However, when pressed they also state that "material information" will be released as required (by the SEC?).    So...   the fact that Bobcat has had no update yet could mean that it is NOT a dry hole (otherwise they would have announced it as such), or, the results are "not material" -- ie, they are still testing...       Hopefully, we'll get some info next week

'jft310' pid='52459' datel Wrote:Relker curious whose report is this ??

Credit Suisse

(11-27-2014, 04:33 AM)Relker Wrote: According to below report page 3 Ant4 is phasing technical issues with the blow out preventer. 24 November 2014 Oil Search (OSH.AX / OSH AU) 3 The reason we still need further clarification is that P'Nyang is the most expensive of the fields to develop given its location in mountainous terrain, 120km West of Hides. It may bypass Hides entirely by constructing a separate gas conditioning plant and a pipeline directly down to Kutubu. This raises some question on whether infrastructure must be duplicated, with an early conditioning plant expansion and Hides and then a new one at P'Nyang in 10-15 years' time. The resource would have to be large for that to be worth it, with OSH talking up 3-4Tcf vs. the currently booked 2.5Tcf. P'Nyang is needed to get sufficient reserve coverage for a third train from the highlands. But phasing is likely, similar to development at PNG LNG where Angore won't be developed for 4-5 years (drilling now because rig was nearby) and Juha for another 10 years. But they are unitised in the same way as earlier fields, meaning OSH will benefit immediately from its 38.5% share (Exxon has 49% so is not likely to be opposed, if the economics and reserves stack up). Elk-Antelope, timelines and co-operation uncertain The confirmed new news here was incrementally negative as the Antelope 4 well has not been drilling for weeks following issues with the blowout preventer. Interoil expects a replacement to arrive this week. Delays increase drilling costs but the downside is limited beyond that as Antelope 5 (and possibly 6) will be needed to fully determine the size of the resource. Antelope 5 is to be spudded shortly, as the Raptor rig moves over later this month. Certification is still on track for 2H15. Oil Search's base case remains around 5tcf with substantial exploration upside. In their view, the current Antelope 4 well is testing the downside case – a dry well could mean the resource is only 3tcf. To test the upside case of 10Tcf, Oil Search believes Antelope 6 may be necessary. Antelope Deep is a high-risk exploration prospect, where the major concern is porosity. In their view, this is also the reason why Raptor may not record high flow rates – Interoil will be testing that well further this week but noted it has problem with high levels of mud and sediments contaminating the exploration well (and therefore flow rates). Oil Search does not have a stake in Raptor, letting the options to acquire PacLNG's share expire as there was no clarity on resource size. Both sides are happy to await further information before re-commencing talks. All these exploration prospect (incl. Wahoo and Bobcat) are longer term developments. On unitisation and arbitration... There was certainly an indication at the meetings that Interoil is increasingly looking to work closely with Oil Search (Interoil CEO Michael Hession presented at Antelope 3). Whether that is to lean on Oil Search's technical experience, an indication of outcome of the arbitration case or just good corporate citizenship is not known. But there was a lot of praise of OSH management. The benefits to integration are obvious, if difficult to quantify. Peter Botton spoke of NPV savings of $6-700m which would line up well with earlier comments on $3bn gross savings on expansion projects. Apart from the cost savings, the key benefit is a simpler and clearer development plan if unitised into PNG LNG and optimised use of the common-user infrastructure (PNG LNG has first right but must make excess capacity available – access post expansion would have to be negotiated).

An interesting report.  If the info is from OSH, it's passive agressive.  Where is OSH coming from, releasing information on mud and sediments contaminating Raptor, a well they have no interest in?

And what a strange statement, that OSH let the PacLNG options expire because there was no clarity on resource size.  What?  They intend to wait until the resource size at Raptor is determined before trying to buy in!?

And what is this crap about IOC wanting to "lean on Oil Search's technical experience", and all the rest of the wierd spin.

My already low opinion of OSH has gone down a notch or two.

Thy- I believe you are"right on". Except for the possible need of a new blow out preventer, I think the whole page 3 was a combination of "gobblede-goop"  and"spindoctoring".What has gotten in to this company? If they think so little of the situation,why did they put out 900 million dollars for a chunk of E/As assets. Good" hunting" to you !