It appears that the present drilling and planned drilling is moving ahead about as fast as we could have hoped.        

Bobcat-1 Spudded March 5, 2014 Expected to take 90 days. First Week of June.
Wahoo-1 Spudded March 10, 2014 Expect to hear results of finding the top of the pay zone by late April - early May.
Raptor-1 Spudded March 28, 2014 Expected to take 90 days. First Week of July.

From today’s Annual Information Form:

1.  “we plan to drill at least two appraisal wells in PRL 15 during 2014.” (Antelope-4 and Antelope-5)
2. “We expect the Triceratops-3 well to be drilled in 2014 after we have interpreted seismic data.”

From today’s Conference call:
1. “Antelope Deep, is expected to be spudded in the second half of this year.” (Antelope Deep-1)
2. “And the two Antelope appraisal wells, they should be spudded in the second half of this year with a third well, if required, to follow shortly thereafter. (Antelope-4, Antelope-5 and maybe Antelope-6)

So which wells do they say will be drilled in 2014?
1. Bobcat-1
2. Wahoo-1
3. Raptor-1
4. Antelope-4
5. Antelope-5
6. Antelope Deep-1
7. Triceratops-3

Antelope-6, if required may carry over into 2015.

From the Conference call Q & A:

“Q - Pavel Molchanov>: Okay. And then on Triceratops, any sense of timing on and you might be able to do some appraisal at that prospect?
A - Michael Hession>: Yeah. Our plan is definitely to do some appraisal on Triceratops. That also is a very interesting gas discovery which is underappraised. We plan at the moment to be first Q of next year. We're working through the timing of the drilling. But I would say if you [indiscernible] (24:24) with first Q of next year, we'll have a better understanding of what Triceratops is going to give in terms of value. I expect that it'll be March or April of 2015.”

I don’t think Hession, in the above statement, is changing what is stated in the Annual Information Form about drilling Triceratops-3 in 2014. He is saying he will have a better idea of the value of  Triceratops Field by March or April of 2015. Does that mean he will have Triceratops-3 data evaluated by then or does it mean that more than 1 additional Triceratops well will be drilled by then?

It looks like we will get all of the wells drilled this year that are needed to get the Elk/Antelope Field re-certified (with the exception of the third appraisal well, if required). That is both the appraisal wells and the exploration well. These are the wells that are needed for IOC to get their resource payment and probably reach the FID for the LNG project. This is where the big money is and it looks like they are expediting the work required to get the the big bucks.

Looks like an exciting 2014 if they fulfill all of their plans.

PET - thanks for doing this, makes sense we get paid 1st quarter of 2015, could be a grand check with oh well a 5 day delay.

Pet- Thanks for your informative post. Am certainly looking forward to drilling results from wells as we go forth.Especially inerested at this time about the depth of the carbonate at Wahoo.With surface casing set and cemented in,could you hazzard a guess as to our drilling depth now. TIA

'sageo' pid='40687' datel Wrote:

Pet- Thanks for your informative post. Am certainly looking forward to drilling results from wells as we go forth.Especially inerested at this time about the depth of the carbonate at Wahoo.With surface casing set and cemented in,could you hazzard a guess as to our drilling depth now. TIA

Sageo - I would really have to be a fortuneteller to come up with the present depth. If they have the situation that I have described before with an over pressured Talama Volcanic Clastics zone at about 2,300 feet they may have to change the casing program up somewhat. They have been using a casing combination of
18 5/8”, 13 3/8”, 9 5/8” and 7”. So far they have only used the down-hole deployment valves in the 9 5/8’ and 7 “ sizes. If I thought that we would have a highly over pressured zone at 2,300 feet I would want a down-hole deployment valve in the casing string before I drilled into that zone. With these standard casing sizes that might mean setting the 9 5/8’ casing at about 2,300 feet which would be much higher than usual. If that is what they are doing they may need to set the 13 3/8” casing at about 2,000 feet and then a very short 9 5/8” liner at the top of the Talama with the DDV and tie back to the surface.

So if they are involved in some kind of program like that they would have to set casing 3 times before drilling into the Talama. They have been drilling for nearly 4 weeks now. They would have been drilling, reaming the hole, running casing and cementing. All of these things take some time particularly the running of the 9 5/8” liner and the 9 5/8” tie back with the DDV’s.

The answer to your question (and remember that it is no better than a fortuneteller’s guess) is I think they should be at about 2,300 feet.

Getit- I guess we should stick with what Hession told us when it comes to expected timing of news:

"Now the first well actually, Wahoo, is a little bit shallower, so we expect to get the news flow towards at the end of the month or early May on Wahoo. And then I just assume 90 days from spud on Bobcat and Raptor."

Actually I hope he will relent on his statement about Bobcat and Raptor if they are found to be gas bearing reservoirs. I doubt that he can keep that secret even if he wanted to. I think we should reach the top of the reservoir in less than 90 days. The original statement was that it should take 90 days to drill these wells.

'Getitrt2' pid='40749' datel Wrote:Pet, if I am understanding you properly, we could hear something about hitting gas at Wahoo literally any day! Is that right? IMO, by the way, that would be a material event they would have to release information on, something I will look into further.

Getit-Good am to you. Thus far,when it comes to drilling reports, 'transparency' has not been ioc's middle name. I'm hoping that with our current wells,this time we will get updated reports a little more often. As Pet has so graciously informed us, the former wells around Wahoo have shown some form of "gas kicks" (and or good pressure indications) in the Talama zone, which gives me a "great dose of hope" that we have an above average chance of success at Wahoo. HAGD

(04-02-2014, 01:10 AM)petrengr1 Wrote: Getit- I guess we should stick with what Hession told us when it comes to expected timing of news: "Now the first well actually, Wahoo, is a little bit shallower, so we expect to get the news flow towards at the end of the month or early May on Wahoo. And then I just assume 90 days from spud on Bobcat and Raptor." Actually I hope he will relent on his statement about Bobcat and Raptor if they are found to be gas bearing reservoirs. I doubt that he can keep that secret even if he wanted to. I think we should reach the top of the reservoir in less than 90 days. The original statement was that it should take 90 days to drill these wells.

Pet -

I recall his statement actually was that it would take 90 days to drill and test those wells.  That should get us down to TD weeks earlier with initial information on HCs and reservoir height, shouldn't it?

'ArtM72' pid='40757' datel Wrote:

'petrengr1' pid='40753' datel Wrote:Getit- I guess we should stick with what Hession told us when it comes to expected timing of news: "Now the first well actually, Wahoo, is a little bit shallower, so we expect to get the news flow towards at the end of the month or early May on Wahoo. And then I just assume 90 days from spud on Bobcat and Raptor." Actually I hope he will relent on his statement about Bobcat and Raptor if they are found to be gas bearing reservoirs. I doubt that he can keep that secret even if he wanted to. I think we should reach the top of the reservoir in less than 90 days. The original statement was that it should take 90 days to drill these wells.

Pet -

I recall his statement actually was that it would take 90 days to drill and test those wells.  That should get us down to TD weeks earlier with initial information on HCs and reservoir height, shouldn't it?

I think we should find the top of the limestone reservoir in less than 90 days but it may take the full 90 days to determine the gas column thickness (height) if there is actually gas present. This will require drilling through the reservoir, logging, coring and testing. If they find gas I believe the new plan will be to run and cement 7" pipe to TD and do the testing inside pipe.