In Australia 18.5 m discovery is a big deal

[jft310]

So if 18.5 m of gas is a discovery what's 2000 feet of wet gas called ??????Mega load .

PERTH, Australia -- Woodside Petroleum's Pyxis-1 exploration well, in production license WA-34-L, has intersected approximately 18.5 m of net gas within its Jurassic sandstone target, the company announced Wednesday.

The well reached a total depth of 3,347 m. Wireline logging has confirmed the discovery through the recovery of gas samples to surface and the establishment of a gas pressure gradient.

Pyxis-1 is within Western Australia’s Dampier sub-basin and is located approximately 15 km north of Woodside’s producing Pluto Gas Field infrastructure.

“Given its location, this successful exploration outcome offers future tie-back potential to Woodside’s existing Pluto infrastructure,” Philip Loader, Woodside's executive V.P. Global Exploration, said.

Woodside Burrup is the operator and 90% equity owner of WA-34-L. Kansai Electric Power Australia and Tokyo Gas Pluto each hold 5% equity

[Stavros]

That's truly a joke JFT.

This tells me that IOC still cannot figure out how to explain to the "Market" what they truly have sitting under their acres.
It's giving me two ache'rs if you catch my drift.

[Thylacine-2]

My guess is that IOC is being selective about who in the "Market" they want to explain the true situation too.

[my2cows]

My guess is that IOC is being selective about who in the "Market" they want to explain the true situation too.

That last conference call they let a large cat out of the bag. 10+tcf at Elk/Antelope, 17tcf in 5 other fields alone. and 35tcf in the remaining "targets".

This is the only cash rich Natural Gas company that's sitting on acerage that probably holds over 50tcf. When the market wants to invest in NG/Oil again, IOC's has got to be top on their list.

[trans]

My guess is that IOC is being selective about who in the "Market" they want to explain the true situation too.

That last conference call they let a large cat out of the bag. 10+tcf at Elk/Antelope, 17tcf in 5 other fields alone. and 35tcf in the remaining "targets".

This is the only cash rich Natural Gas company that's sitting on acerage that probably holds over 50tcf. When the market wants to invest in NG/Oil again, IOC's has got to be top on their list.

IMO, IOC has been "scared to death" of being taken over for a good while.  That's the primary reason for very little news out.  Now, they decide (mgt) to let the cat out of the bag at 17 tcf and 30 more formations....in other words, if you want to buy out IOC, get your wallet out or don't bother.  This company has high odds of going into play this year and may very soon, but if the certification is anywhere near expectations, watch out.  Doesn't mean IOC gets bot out, but does go into play .    imo, a more realistic valuation lies ahead, this year is gonna be fun....wait and see.....trans

[jft310]

Transfer I 100 percent agree . Games are over time to get serious about monetizing this baby all or part . I imagine DD is ongoing as I type when they pull the trigger is debatable .

[Palm]

Agree trans, and good to see the folks at Yazoo getting up to speed on the Shareholder Rights plan that was amended 2 years ago. I think we had that figured out after the AGM in 2013.

Don't look there much anymore but had been told that issue and the share buyback plan were hot issues there. Financial statements and Notes thereto are good things to read and understand.

[sageo]

Transfer I 100 percent agree . Games are over time to get serious about monetizing this baby all or part . I imagine DD is ongoing as I type when they pull the trigger is debatable .

Jft - Yes,"when" is debatable, but when the trigger is pulled,my "$59 and change" will go by the wayside. Your "games are over" may be a bit early yet,but should be over in the not too distant future.[ OT-sure would like to see Wahoo start up again......oh well, I can wish in one hand and spit in the other and I darn  sure know which one will get full the quickest ! ] Good day to you.

[Getitrt2]

That's truly a joke JFT. This tells me that IOC still cannot figure out how to explain to the "Market" what they truly have sitting under their acres. It's giving me two ache'rs if you catch my drift.

Beyond the news items and presentations they have provided since Dec 3, the new estimates of additional resources of 17 Tcfe and 35 Tcfe, and the new UBS Buy recommendation and 50-page report, what else specifically would you suggest they do?  The stock has clearly been in an uptrend since January in a market environment that has not been nearly that positive.

[sageo]

That's truly a joke JFT. This tells me that IOC still cannot figure out how to explain to the "Market" what they truly have sitting under their acres. It's giving me two ache'rs if you catch my drift.

Stavros - Good point.Perhaps IOC could explain it this way......Pluto has 4.4 tcf and with the new Pyxis-1 tie-back,they could maybe get to 5 tcf. At E/A with tie-backs from Bobcat, Mule Deer,Whitetail,Raptor, AS and possibly Triceratops they are (potentially and probably possibly) looking at a multiple of 2.5 or 3 times Pluto's total tcfs. This "might" get the "Market" to re-think our value. I would sure hope so. Good luck to you and all our 'patient'longs.