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- FEED 2015
- Antelope-6 decision imminent:
Antelope-6 to separately appraise eastern flank upside Pending JV approval, expected to spud in late Q2 2015
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A6 results won't be needed prior to concept selection by the end of Q2, coincident with extended flow and pressure tests. That makes it seem pretty clear they have confidence there is plenty of gas for two trains.
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Fact is they are getting it done . The transformational event is receipt of tbe resource payment later in 2015 not the announcement of a payment . To start FEED means the partnership which includes Total wants to build the plant . After the payment receipt the next large hurdle is FID to reach FID we need FEED . Another payment at FID. The current company talk is at least 2 trains through use of the tie-back pipeline arrangement to E/A wells from Triceratops Raptor and Bobcat .
Instead of all the bloody details Hession just gets it done .
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Slide 13 - bottom left states Interoil has access to 5 rigs for this drilling campaign .
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Slide 10 contains 'Cold Hard Facts'
If there remains an Asian LNG trade capital will flow to E/A LNG.
E/A LNG IRR 20% when industry goal is 12% which PNG LNG achieves.
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Historically GLJ will include as much of the Ant 4 well results as possible when they publish the year end report or that Dec 31st date is not a line in the sand and GLJ wants the best snapshot they can get.
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The one train argument was that at Ant 4 the formation fell way and that's been dis proven now. Second 1 train argument was the the wells were pockets not all one formation the slides show clearly state that fear is being addressed directly with the connectivity tests to be completed during the 2nd quarter of 2015. Previous connectivity tests proved connectivity. But now we have more wells a larger formation to test and prove. Removing uncertainty step by step.
