'petrengr1' pid='43339' datel Wrote:
I notice a couple of new pieces of information and some changes in today’s presentation.
1. I refer you to http://tinyurl.com/n7tl8ph slide 18. “Seismic survey over Antelope
Deep now complete” You may note that the red lines marked BH some of which extend outside of PRL 15.
2. The Antelope line A10IOL14 has been extended considerably to the northwest. The line now ends south of the Jaguar prospect and southwest of the Hou Creek base camp.
3. We have three new lines marked as TE021OL13 (East of Triceratops and West of Bobcat), TE031OL13 (Bobcat) and TE041OL13 (Jaguar). May be named TE for Triceratops East.
4. The new line in the southeast of the slide 18 was mentioned by Dr. Hession as the Zebra program and is a part of the work program for the new license. It is quite a long line and it appears to cross or come near the Razorback South, Zebra and Mastodon prospects and passes south of the Rhino West and Rhino East prospects.
5. On chart 17 they show a location marked Triceratops-3 (Provisional) which is northwest of Triceratops-2. I believe IOC and PRE have selected this as the next location to be drilled at Triceratops. That is a drastic change from what we have been told previously. We were previously told that we would target a reef to the southwest of Triceratops-2. The slide says “Targeting volume definition” so they must believe this location will give them the ability to prove up a larger volume of the reservoir. Also note this comment “ Complex trapping geometry with uncertain up-dip extent”.
6. On chart 16 I was a little surprised to see the planned location for Antelope-5. I had thought they wanted to prove the reservoir extended further to the southeast but instead they have placed the location west of Antelope-2. Antelope-4 will be a southeast of Antelope-2 but not very far. Just as a matter of interest at Antelope-2 we drilled the first horizontal hole 934 meters to the WNW and the second horizontal hole was drilled 686 meters ESE from Antelope-2. http://tinyurl.com/l96xubf chart 9.
The two new locations are in the same direction from Antelope-2 as the two horizontal holes were drilled. Looks like we are not taking much of a risk with these two wells. This should just prove up the reservoir rock that GLJ has already used to calculate 9+ TCF. If they drill Antelope-6 and want to expand the size of the known reservoir I would think they would want to step out to the southeast. Maybe they have decided they would rather have the wells in the best location for production and equip them for such upon completion.Correlating your post to that of Raymond James. Raymond james believes Elk Antelope gives a net asset value of $88 per share. This a;;ows for the time value of money. It does not include any value for Triceratops except they allow 12 for further
explorattion to give a target of 100.. I think we know there is gas at Tricertops, it is just a matter of how much. Lets say there is 4T at Tricertops and 7.2 at Elk Antelope. Is this enough for a plant at EA and 1 or 2 trains at Tricertops to go to OSH?
Is it possible to affirm EA and Tricertops in 12 months and make a final decision on the trains to XOMs plant?