InterOil Scales-Up PNG Operations

[cybersssss]

This is usually a square hole that is dug 10 ft into the ground and lined with re-enforced concrete. The rig Pad is placed around this cellar. This is where the blow out preventer (BOP) goes. Without the cellar, the rig substructure would have to be much higher in order to accomodate the BOP.

http://books.google.com/books?id=eheKh6AoL3EC&pg=PA53&lpg=PA53&dq=cellar+and+rig+pad&source=bl&ots=BpMQxdfvg3&sig=ZiU47_lR7OXaeEW1xsoRtd4ihZk&hl=en&sa=X&ei=QQ7pUuGYMYfMkQeCgYGIAQ&ved=0CEgQ6AEwAA#v=onepage&q=cellar%20and%20rig%20pad&f=false

[mikesioc]

Another PR that ignores the elephant in the room.

[Palm]

How so Mike?

[johnwgrant]

How far (timewise) are we from a Wahoo spudding !?!? Educated guesses anyone ?

[jft310]

John-That's IOCs lever over the minority. Drilling ahead means a cash call to the minority. Hession with this Presser is in Civelli's face.
Hes saying let's get this done. May be done but if so its not announced.

[sydbod]

How far (timewise) are we from a Wahoo spudding !?!? Educated guesses anyone ?

How about an uneducated guess ....... end of Feb to middle of Mar if weather turns nasty. I normally expect around 3 months for set up and another 3 months for drilling ....... but it depends so very much about the nature of the rig and how it can be transported.

[Palm]

If one reviews the SPA and ignores the license issue, the "Cut-off Date" is defined as 6 months after the signing of the Agreement, which was signed on December 6th 2013. So if they start drilling and fulfill what the government has asked from that perspective and the government sees progress on the deal with Total to their satisfaction, all of these negotiations could extend. Unlikely due to what JFT is pointing out with the cash call issues, but people should understand that early June is the SPA deadline. It's in writing and it's filed with the SEC. That's a fact. "Hopes" are it all gets done sooner. But a contract is a contract.

[Tree]

Palm, thylacine-2 you can thank me later. IPI results get pushed back to end of quarter with everything else. Reminds me a lot of the "old" IOC.

Reminds me nothing of "old" IOC.

"Old" IOC would not have mentioned IPI.

"Old" IOC would not have provided detailed well site updates with rig move timelines and mobilization of human assets to PNG.

"Old" IOC put no effort into transparent proactive, detailed official pressers.

And yet, an informative and timely PR is not appreciated for what it is by some.

I say 'Good job' on this presser to whoever is now in charge of IR.

[Getitrt2]

Right on, Tree!

[CAC]

Palm, thylacine-2 you can thank me later. IPI results get pushed back to end of quarter with everything else. Reminds me a lot of the "old" IOC.

Reminds me nothing of "old" IOC.

"Old" IOC would not have mentioned IPI.

"Old" IOC would not have provided detailed well site updates with rig move timelines and mobilization of human assets to PNG.

"Old" IOC put no effort into transparent proactive, detailed official pressers.

And yet, an informative and timely PR is not appreciated for what it is by some.

I say 'Good job' on this presser to whoever is now in charge of IR.

***********

"Old IOC" traded in the 80's...and higher.  When will the cheerleading and excuse-making end?  The share price is all that matters, people!