10-22-2013, 06:55 PM
Tree, I think there is something wrong with that article.
If one looks at PRL21, just under PPL 437 one will find approx 1.3 Tcf of gas in just the 3 prospects of Tingu, Elevala and Ketu.
Apologies that I can no longer find a link to the cost of drilling wells in this area of PNG, but the actual cost is very very cheap compared to the highlands.
PPL 437 should hold at least twice as much gas as PRL21 assuming insignificant dry wells. In that western area of PNG the success rate has been very very high by the various small oil companies drilling there so dry wells have up till now been very few.
I would suspect a saying of
"Just a few $10,000,000 wells are needed to prove up 2.5Tcf." may be closer to the truth, but we will have to wait and see what the final outcome happens to be.
If one looks at PRL21, just under PPL 437 one will find approx 1.3 Tcf of gas in just the 3 prospects of Tingu, Elevala and Ketu.
Apologies that I can no longer find a link to the cost of drilling wells in this area of PNG, but the actual cost is very very cheap compared to the highlands.
PPL 437 should hold at least twice as much gas as PRL21 assuming insignificant dry wells. In that western area of PNG the success rate has been very very high by the various small oil companies drilling there so dry wells have up till now been very few.
I would suspect a saying of
"Just a few $10,000,000 wells are needed to prove up 2.5Tcf." may be closer to the truth, but we will have to wait and see what the final outcome happens to be.