Few quick notes from call

[wapitidropiti]

Every Tcf in new resource discovery will create $1 billion in "value" for InterOil. On Wahoo, team is reviewing all aspects, well engineering, equipment, rig, etc., and a "plan is coming together". Drilling to date has confirmed large quantities of gas before even getting into the reservoir, and they have every intention of completing drilling into the reservoir and confirming what is there. InterOil has the largest position in one of the largest and most prospective remaining hydrocarbon basins in the world, the kind of position oil and gas majors look for and an extremely unusual position for a company the size of InterOil, E/A and that being the primary reasons he and his team came to InterOil. They see "tens" of Tcfs of resource potential. When you look at E/A, Antelope Deep, which looks like it could be another Antelope, and Triceratops, where they see significant upside, he is very confident of starting with two trains, and for PNG making that five trains with PNG LNG, and sees beyond that six, seven, or more trains, which is huge for PNG and InterOil. Furthermore, the Company is in this great position with plenty of capital, in the form of cash, cash to come, carry funding from Total, and financing, to accomplish all this including aggressive exploration, without having to raise equity financing. They have continued expanding seismic at E/A and have 40% more than at last reporting, and it looks very positive so far. They are already talking about a possible Antelope 6, and it sounded like there's a good probability of drilling that, probably to the East. It sounds like they are being very aggressive in appraisal of PRL 15 as they look toward next year's certification. Dave Holland is phenomenal and has probably forgotten more about PNG geology than anyone else will ever know. Laurie Brown (?) has now joined the Company.

Nice post, Getit.

It's been a long time since we've seen something like this from you where you aren't in someone's face.  I hope we see more like it.

Yes nice post Getit. Your comment about wahoo's drilling already confirming large quantities of gas was new news to me. Isn't large quantities of gas above the target zone a precursor to oil?