High Arctic Energy Report- Upcoming well spud

[johnwgrant]

Why not Wahoo for the High Arctic Rig that just arrived in country? I would like InterOil to finish this well ASAP - why not now? They have certainly had plenty of time to 'ponder' the problem(s) and come up with a solution...

John - If one of the High Artic rigs goes to Wahoo, where will the current Wahoo rig go to when it is moved ? Any thoughts ?

A good question!    Clearly there is a mismatch (either BOP rating or ???) with the rig they used at Wahoo.   Therefore, get a rig there that can do the job.   Now, if the current rig is fine for development drilling in the Elk/Antelope structure - let it be used there.   However, Hession has indicated he prefers to "subcontract" out the rigs and crews (as in High Arctic arrangement).   So, maybe they sell it there in PNG ?!?!?  

[Getitrt2]

I'm pretty sure they have been making modifications for the rig and other equipment and the drilling program as needed to proceed with what they have at Wahoo, and not planning to switch rigs, but I'm not saying that's not possible. I expect the A5 and High Arctic rigs to go to A6 and T3, although not knowing which to which, with no further use of the A4 rig.

[ArtM72]

Mondays have always been the days to wake up expecting to see announcements from Port Moresby. With High Arctic having stated their rig 115 was to spud mid April and the photo of their crew in a "mission accomplished" pose at the T3 well site my expectation was to see the T3 spud announced this morning. Q2 is starting to run out of weeks.

Maybe the big AGM announcement will turn out to be a new spudding? It certainly has been awhile since the last, especially given the company's new...er... laser like focus ...on upstream. Perhaps they planned on using the A4 well crew to man the T3 rig and that has been the problem.