Another interesting point made in the PR:
"....selecting our partner(s) for the development of the Gulf LNG Project utilising gas from the Elk and Antelope fields in Papua New Guinea."
We have gone back and forth on whether Tri/Bwata will be aggregated with EA for Gulf LNG. This seems to indicate that Gulf will only use gas/condensates from EA. If so, this is a very positive sign IMHO. I think that until Ant3 was drilled there were thoughts that Ant was not a continuous structure (rumor was that they would hit formation water at Ant3 proving that Ant1 and Ant2 were not connected and thus proving less gas at Ant. This of course was pointed out as being rubbish by Pet), so Tri was tapped to show what is there to support Gulf if necessary. Duma even at one time hinted that Tri/Bwata might feed Gulf. Of course if Ant was not a continuous structure and Tri/Bwata needed to be developed as part of Gulf, it would be more expensive, take longer and a bidder would not want to pay as much. That's all been blown away IMHO and bidders now have what they need to finalize their bids. Management is giving them fair time to get final bids in; until Feb 28th.
I believe management has, instead of being deceptive or vague or lying, has done a remarkable job through this process of navigating through and around all of the obstacles. And they should now be HIGHLY commended for doing what they've done. When doubts were raised as to the quality and integrity of EA, they responded quickly by drilling Tri at breakneck speed. Then when the doubts about Ant3 were raised they switched course and switched which rigs were going where; the old heliportable rig would now go to Ant 3 to quickly drill it and prove what they had been telling the world; Ant is a Zebra killer. I know many here agree with me that management has been doing a great job through this difficult process and stuck by them. To those I tip my cap and to all longs I look forward to Feb 28th and the week after.
Tusker's ship comparison has been very appropriate as it has been telling us of the navigation by management that has been taking place. Toot! Toot!
"....selecting our partner(s) for the development of the Gulf LNG Project utilising gas from the Elk and Antelope fields in Papua New Guinea."
We have gone back and forth on whether Tri/Bwata will be aggregated with EA for Gulf LNG. This seems to indicate that Gulf will only use gas/condensates from EA. If so, this is a very positive sign IMHO. I think that until Ant3 was drilled there were thoughts that Ant was not a continuous structure (rumor was that they would hit formation water at Ant3 proving that Ant1 and Ant2 were not connected and thus proving less gas at Ant. This of course was pointed out as being rubbish by Pet), so Tri was tapped to show what is there to support Gulf if necessary. Duma even at one time hinted that Tri/Bwata might feed Gulf. Of course if Ant was not a continuous structure and Tri/Bwata needed to be developed as part of Gulf, it would be more expensive, take longer and a bidder would not want to pay as much. That's all been blown away IMHO and bidders now have what they need to finalize their bids. Management is giving them fair time to get final bids in; until Feb 28th.
I believe management has, instead of being deceptive or vague or lying, has done a remarkable job through this process of navigating through and around all of the obstacles. And they should now be HIGHLY commended for doing what they've done. When doubts were raised as to the quality and integrity of EA, they responded quickly by drilling Tri at breakneck speed. Then when the doubts about Ant3 were raised they switched course and switched which rigs were going where; the old heliportable rig would now go to Ant 3 to quickly drill it and prove what they had been telling the world; Ant is a Zebra killer. I know many here agree with me that management has been doing a great job through this difficult process and stuck by them. To those I tip my cap and to all longs I look forward to Feb 28th and the week after.
Tusker's ship comparison has been very appropriate as it has been telling us of the navigation by management that has been taking place. Toot! Toot!