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+--- Thread: NGE sells to XOM (/showthread.php?tid=4264)
RE: NGE sells to XOM - petrengr1 - 08-05-2013
(08-02-2013, 06:08 AM)petrengr1 Wrote:
(07-26-2013, 12:46 PM)petrengr1 Wrote:
(07-26-2013, 11:48 AM)admin Wrote: Any identified prospects or leads in there?
According to NGE, yes. Go to http://www.ngenergy.com.au/announcements/presentation-to-noosa-mining-and-exploration-conference and download their presentation. Look at slide 21.
This P’Nyang South field was mentioned in the Exxon Conference call today. I appears that they think they have a 650 meter (2,133 ft.) vertical gas column in this field. I believe this is in the Toro sandstone so it should have pretty good porosity. Now they are picking up a 50% interest in the PPL 269 from NGE. If those many prospects shown on http://www.ngenergy.com.au/announcements/presentation-to-noosa-mining-and-exploration-conference chart 21 are similar to P’Nyang and P’Nyang South they will have a lot of gas in this area. Also seeCheck out article at: http://www.ogj.com/articles/2012/04/thicker-toro-gas-found-at-pnyang-south-papua-new-guinea.htmlLooks like they are going to need more and larger pipelines if this gas is to be brought to Port Moresby. Will they go East or West of the difficult terrain?
For your further information.
It appears that Exxon is gradually picking up significant blocks of acreage. In addition to the 50% interest in PPL 269 from NGE mentioned above, Exxon and Oil Search had previously each acquired 50% interest in PPL 277 from NGE. NGE will retain a royalty interest if production is established in PPL 277. http://www.lngworldnews.com/papua-new-guinea-oil-search-buys-50-pct-in-ppl-277/
See the map in the above link. The southeastern end of PPL 277 is just north of IOC’s PPL 237 (Triceratops) and the block of PPL 338 where Oil Search/Total are jointly acquiring additional seismic, along with IOC, at Triceratops. I believe IOC is doing the work which will be paid for by Oil Search/Total and the data will be evaluated separately by Oil Search/Total and IOC.
It would not be too surprising to see Exxon find a way to own a significant percentage of IOC’s PPL 236, PPL 237 and PPL 238. Just a thought for your consideration.
RE: NGE sells to XOM - sageo - 08-05-2013
Pet - Thank you for that update,sir. I sure liked your thoughts on 236,237 and 238 because I believe that would mean drilling rigs and more drilling rigs! It would be worth the cost to fly to Port Moresby,rent a chopper and fly over our leases, just to see 3 or 4 rigs drilling at the same time!! Wow,what a sight that would be!!! ("sugar plums dancing in my head"
and as Red used to say..."God bless"
RE: NGE sells to XOM - jft310 - 08-05-2013
Those leases are offered up for a farm in partner !
RE: NGE sells to XOM - sageo - 08-05-2013
jft- I realize that. At this point in time,I don't care which "partner" does the drilling ( Exxon or whomever) . I would like to see many rigs "turning" !
RE: NGE sells to XOM - jft310 - 08-05-2013
Bet on 5 plus, IOC-2, Exxon 2 and PRE 1 equals 5 at least.
RE: NGE sells to XOM - sageo - 08-06-2013
Thanks to all for your fine comments. Pet -- Your statement" it appears that Exxon is gradually aquiring more acreage in PNG" seems to be true when we read their latest reports. I just received my recent Lamp, and was puzzled about no mention in it concerning PNG. As you aluded to,NGE was very wise(imho) to obtain the royalty they did when they sold ppl 277 to Oil Search and Exxon. I believe that purchase is going to be seen ,at some future point,as a very profitable purchase. Of course,time will tell. [ and it is ajacent to Pteranodon!! ] Good volume today so far!
RE: NGE sells to XOM - Petrovale - 08-23-2013
Guys, wasn't XOM supposed to close a deal with NGE within 20 days?
RE: NGE sells to XOM - maui4marko - 08-23-2013
'Petrovale' pid='27854' datel Wrote:Guys, wasn't XOM supposed to close a deal with NGE within 20 days?
http://asx.com.au/asxpdf/20130726/pdf/42h839d6rcc6m7.pdf
RE: NGE sells to XOM - Petrovale - 08-23-2013
'maui4marko' pid='27858' datel Wrote:
'Petrovale' pid='27854' datel Wrote:Guys, wasn't XOM supposed to close a deal with NGE within 20 days?http://asx.com.au/asxpdf/20130726/pdf/42h839d6rcc6m7.pdf
Thanks Maui
Ah ok, so tomorrow is the day of truth.
Let's see if XOM can close a deal...