Interesting to contemplate when the best time to drill for more gas/oil is. The last new find the interoil has discovered was triceratops. Since then they have only further delineated te elk/antelope resource. Now that they truly are on the cusp of a monetization deal, proving that they can monetize for gas, they will begin drilling. Begin drilling after the first monetization deal is signed and in the works.
the folks at ioc and the ioc experts on shu know that there is more gas. After all we heard the adage that the best place to find more oil is in an oil field. So why wait until now to prove up the vast resource? My theory is that they have a high confidence that there is more gas or oil in the prospects they will drill this coming year. However, up until the monetization deal is signed, they have no money to drill them on their own and they really have no reason to find more resource until they can actually have a method to monetize it.
The former issue of money is obviously key,but money can be found, especially with data they have. However, once they have gulf LNG in the process of being built,they have a clear path to booking reserves. Much easier then ever before. We all know this and have known this. My point is that the reason that they are pursuing this aggressive drilling plan now is that Hession knows that we have two deals getting done. Any drilling up until that point is futile until ioc had cash and ability to more easily fid whatever future resources that they will find.
With the 250 'million dollar line they have, it is not about money now, but it is about building a gulf LNG project that can bring the resource to monetize. We are on the cusp of the best year for interoio. We will make new multi year highs. It is definitely an exciting time. The announcement of further exploratory drilling to me is just further evidence that he deal is done. Go ioc.
