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+--- Thread: Drilling Update out !!! (/showthread.php?tid=7444)
Drilling Update out !!! - johnwgrant - 09-30-2014
Yea !!!
Wait a minute - how slowly have they been drilling ?!?!Is that new Information that PRE has a 12.9% interest ?
RE: Drilling Update out !!! - jft310 - 09-30-2014
Exploration Drilling Update
Singapore and Port Moresby, September 30, 2014: InterOil Corporation (NYSE,
POMSoX: IOC) today provided an update on its current exploration drilling program.
RAPTOR-1, PPL 475
InterOil is preparing to set seven-inch casing in the Raptor-1 well in PPL 475 in the Gulf
Province of Papua New Guinea. The casing point is slightly above the Kapau Limestone
target zone, and is in line with the well program.
At this stage, calcimetry, temperature and background hydrocarbon concentrations are
similar to those experienced before InterOil entered the Antelope reservoir. The significance
of these preliminary indications can be determined only by further drilling and logging.
Raptor-1 is about 12km west of InterOil’s multi-trillion cubic feet Elk-Antelope gas field.
InterOil holds a 65.208174% interest in Raptor-1 and is operator. Pacific Rubiales Energy
Corp. (TSX
RE; BVCREC; BOVESPAREB) has a 12.903226% interest in the well and minority interests hold 21.8886%.
BOBCAT-1, PPL 476
The Bobcat-1 well in PPL 476 in Papua New Guinea continues to drill in the Orubadi shale,
towards the Kapau Limestone target zone.
Bobcat-1 is about 30 km northwest of InterOil’s multi-trillion cubic feet Elk-Antelope gas field.
InterOil holds a 78.1114% interest in the well and is operator. The remaining 21.8886%
interest in the well is held by minority parties.
InterOil will keep the market informed of material developments.
RE: Drilling Update out !!! - Movieguy - 09-30-2014
IOC did update by its deadline. It can't be accused of not keeping its word, but their lack of progress is very disappointing to me. The only encouraging news is "At this stage, calcimetry, temperature and background hydrocarbon concentrations are similar to those experienced before InterOil entered the Antelope reservoir."
RE: Drilling Update out !!! - ArtM72 - 09-30-2014
Unbelievable. Are they using two guys and a post hole digger to drill these wells?
Without a doubt there's a story here that we're not being told.
RE: Drilling Update out !!! - jft310 - 09-30-2014
Raptor is right above the limestone(reservoir rock) ready to drill ahead.Bobcat is still drilling through the shale.
RE: Drilling Update out !!! - Palm - 09-30-2014
Absolute garbage update. So is this the ball buster insider info that kept management from buying shares out of own pockets? Now window is closed. Pretty sad.
RE: Drilling Update out !!! - Palm - 09-30-2014
Did they forget they have a well named Wahoo? Have to assume it's dead in water. Market will.
RE: Drilling Update out !!! - sageo - 09-30-2014
'Palm' pid='50188' datel Wrote:Absolute garbage update. So is this the ball buster insider info that kept management from buying shares out of own pockets? Now window is closed. Pretty sad.
Thanks Palm ....truer words were never spoken ! Very pitiful . We must have "clowns in our midst".Have been in many oil and/or gas wells in the past 60 years or so and have never seen a mess such as this.
RE: Drilling Update out !!! - jft310 - 09-30-2014
No market value in any of the wells today. The Pet Engin can chime in but finding what the seismics show -the formation with a shale cap and then limestone below can only be good news at Raptor.At Bobcat finding the formation with a shale cap and drilling into that cap can only be good.
Les sthan 2 weeks we will hear more about Raptor.Right above the limestone with a 7 incher to drill ahead. Thats actually quite good news.
RE: Drilling Update out !!! - Nolan - 09-30-2014
Why the negative comments? This was very predictable. Frankly, I expected bad news. This is actually positive. Unless we are being lied to, there is still hope we hit. I agree that Wahoo is dead for now. The question I have is - do we go to 57 or 52 today?