End of 2015 - Printable Version

Sometimes it's good to reflect back a bit on the past to gain a better perspective on the present and future.

On the last day of 2015, I thought that a quick year-end wrap-up might be in order:

Seems like quite significant progress by all accounts over the past year and we are still on track for certification and very large interim resource payment around mid-2016, as well as final design concept and beginning of FEED around the same time.

It has been a pleasure and an honor to have been part of this board this past year.

Thanks for the nice summary. Indeed a lot happened in 2015. Here's to a much more prosperous year ahead. Happy New Year and thanks everyone for the interesting and entertaining posting.

I have one question for you. Where did you find the information about a flow test on Antelope-4 ST-1?

From Interoil:

Singapore and Port Moresby, November 18, 2015: InterOil Corporation : IOC) reported that wireline logging from the Antelope-4 sidetrack-1 well in Petroleum Retention License 15 in Papua New Guinea has confirmed a southern extension of the Elk-Antelope field’s high-quality, gas-bearing dolomite. The logs measured 182 vertical meters (597 feet) of dolomite and a vertical gross gas column of about 339 meters (1,112 feet).InterOil Chief Executive Dr Michael Hession said the field continued to surprise on the upside. “First, we intersected the top of the reservoir 36 meters (118 feet) higher than the original Antelope-4 penetration,” Dr Hession said. “Second, our interpretation of data from Antelope-4 and Antelope-5 suggests that the field-wide gas-water contact is deeper than previously interpreted. ”The PRL 15 joint venture intends to begin drilling Antelope-6 in December this year as part of the appraisal program to define the resource for the Papua LNG Project. The joint venture is also considering an additional appraisal well on the western flank of the Antelope field that could add an incremental volume of 1 to 3 Tcfe.

From OilSearch Dec. 3, 2015

During November, the Antelope 4 ST1 well was drilled to a total depth of 2,326 metres and wireline logging was completed. Log interpretations confirm that a thick, high quality dolomite reservoir unit continues to this southern location. Due to well integrity issues, long-term production testing could not be undertaken. Preparations to plug and abandon the well are now underway. Drilling on Antelope 6 and production testing of Antelope 5 is expected to commence shortly.

I believe they never tested Antelope-4 ST-1 at all. They were afraid to test the well with gas to the surface and pressure on the well due to "well integrity issues". So the well was plugged and abandoned without testing. Hopefully they got the well properly plugged so that it will not be a safety issue in the future.

I do not understand OilSearch's comment: "production testing of Antelope-5 is expected to commence shortly". I see no reason to test Antelope-5 again until we have another well to monitor for connectivity. I believe that will be Antelope-6 where drilling is presently underway. I expect to see additional testing at Antelope-5 after completing and testing Antelope-6 in order to prove connectivity between the wells.

"I have one question for you. Where did you find the information about a flow test on Antelope-4 ST-1?"

PET: You are correct. The data on Ant4 ST1 was from wireline logging. In looking back over my notes, I think I messed up when cutting and pasting info. Thanks for catching that and apologies to all for my error.