'Getitrt2' pid='26879' datel Wrote:PRE was not planning to start drilling PPL 237 until the third quarter at least, and I don't think they would want to start until they have the seismics currently being done, and maybe not until the XOM deal is completed as well. I think exploration planning may be a topic in the conference call.
It had been published (http://www.istockanalyst.com/business/news/5808228/pacific-rubiales-announces-farm-in-on-ppl237-license-and-triceratops-structure-onshore-papua-new-guinea) PRE would participate in six wells on T-tops and 4 other wells in the block and that work was to be done in the 2012 to 2014 timeframe. That would be a lot of wells to drill in eighteen...er...sixteen months. Do you think PRE's exploration VP Jairo Lugo is anxious to drill given his statement "In Papua New Guinea, the opportunities that we have interpreted and mapped are very, very, very large. We are talking about in excess of 5 to 10 tcf every single opportunity there."
Nah. Something's up with 237. Hell, the PRE deal came out of nowhere. Why should we expect anything different this time around?