(11-13-2013, 08:07 AM)ArtM72 Wrote: Pet - Two quick questions. Do you believe that based upon the TO4IOL13 strike shown on Page 23 and the extent of the red on the graphic that closure to the west has been determined? The field size and shape shown on that graphic is awfully close to that shown on page 22 of the 2013 AGM presentation. (Note: Strike line BW05IOL10 on that presentation appears to be mislabeled and should be BW09IOL10). Also, do you think it remarkable that T-3 is being drilled so close to T-2 and the Bwata Thrust? TIA
Art- I think you have your dips and strikes confused. BW091OL10 is a dip line. The strike line is BW051OL10 on all of the presentations that I have checked. On http://www.interoil.com/iocfiles/documents/investorrelations/presentationanddocuments/2013/2013-11-12%203Q13%20Presentation%20Final.pdf ; page 23 they say:
“Work continues on the PPL237 joint venture seismic with partner Pacific Rubialis Energy (PRE).
Two additional lines have been scouted and crews mobilized to identify western and
southern fault closure against the Bwata Fault.”
I am not sure but I think the green lines are what they are obtaining now in order to determine the western closure and the southern fault closure. The dark black lines are the one obtained in 2013 in the joint venture with OilSearch.
I guess we will have to see the data to know if the lines to the West extend far enough. We won’t know where the Western end of the field is until we see on the seismic. If these lines don’t see the end of it they may have to continue to the west until they find it. I guess that would be a good problem to have. Maybe it extends all the way to Pteranodon. See http://www.interoil.com/iocfiles/documents/investorrelations/presentationanddocuments/2012/2012-06-15_AGM_Final-1.pdf ; page 21 (magnify as needed to see Pteranodon which is northwest of Triceratops.
The Triceratops-3 is not as close to Triceratops-2 as it appears. It is the same high they have always talked about drilling next. They don’t have much choice. The reef is where it is and that is where we want to drill. Also they have a terrain problem. I think they will have to make a location across the Pide river from Triceratops-2 and the elevation is not as high as they would like. A higher elevation gives them more mud weight to control the pressure when they enter the reef but I think the reservoir pressure is low enough that they will not have a problem. They may need to use fairly heavy mud and/or use pressure managed drilling after setting casing above the reef.