(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...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...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/thic...uinea.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.
and as Red used to say..."God bless"
