The string of pearls validation

[jft310]

The theory is we have an ancient sea shore , Tuskers string of pearls . That we may have 13 reefs and if so the 40 ? Prospects are worth more money . The area is 100's of miles of possible hydrocarbons if the theory is right . It's a big deal.

[Palm]

Reef Complex formation in eastern Papuan Basin
“In Eocene times, a passive margin was still established in the Papuan Basin. The Australian carton was emergent to the south and southwest, and a temperate carbonate platform formed a rim in the shallow water around its edges (Mendi Limestone). Deeper water (abyssal plain) existed further to the north and east (Aure Formation). The Middle Oligocene saw the Australian Craton and Melanesian Arc start to converge. The slow collision of these two regions transformed Papuan passive margin into a foreland basin. By the Early Micoene, this transition had created a narrow foredeep, and a southward moving transgression that greatly expanded the width of the carbonate platform... it is interpreted that barrier reefs (Borabi trend) became established along the margins of the platform near the shelf edge. Large reefs were also established on structural highs in front of the main trend (three of these, the Uramu, Pasca and Pandora reefs, located offshore in the Gulf of Papua, contain significant gas resources). With continued loading from the thrust sheet to the north, the basin deepened and sediment influx increases. This caused backstepping of the reef trends into shallower, cleaner waters to the south.”
– GLJ Petroleum Consultants 12/31/09

[jft310]

The question is how many reefs and what size and where. The drilling of wahoo if it hits pay makes the area GLJ describes as larger and thus more valuable in aggregate.

[ArtM72]

I ran into this paper published in December of 1993, "PETROLEUM EVALUATION OF THE AURE THRUST BELT, GULF OF PAPUA" for the South Pacific Applied Geoscience Commission (SOPAC). It can be found at http://ict.sopac.org/VirLib/TR0183.pdf. [This link might not work. If not, Google "Aure Thrust Belt SOPAC" and you should get the hit up top]

I don't remember seeing a geologic formation that more closely resembles the size, shape and location of IOC's PPLs than the Aure Thrust Belt. The paper discusses in more depth than I can easily handle the geologic history, structures, likely kitchens, likely reservoirs and seals of the Aure. Interesting reading while we wait for more data out of IOC or if you wondered or wanted to have reason to get excited about the word Moogli.

[Tusker]

The theory is we have an ancient sea shore , Tuskers string of pearls . That we may have 13 reefs and if so the 40 ? Prospects are worth more money . The area is 100's of miles of possible hydrocarbons if the theory is right . It's a big deal.

InterOil has a hydrocarbon system of commercial quanities of natural gas from Triceritops in the West to Wahoo in the East.

The definite trend has a perfect seal called the Orbardi Shale.

Look forward to two more discoveries.

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[ArtM72]

The theory is we have an ancient sea shore , Tuskers string of pearls . That we may have 13 reefs and if so the 40 ? Prospects are worth more money . The area is 100's of miles of possible hydrocarbons if the theory is right . It's a big deal.

InterOil has a hydrocarbon system of commercial quanities of natural gas from Triceritops in the West to Wahoo in the East.

The definite trend has a perfect seal called the Orbardi Shale <not to mention the kitchens of Aure, Moogly, Chim and Maril, or the reservoir rocks of Puri, Nebilyer and Talama.  Sorry to step on your post, Tusker >.

Look forward to two more discoveries.

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[Getitrt2]

If Wahoo hits gas then does this not validate the strings of pearls theory. If the theory is validated doesn't  that make all the properties more valuable? Wouldn't a party be much more willing to pay up for what's been found then???To me I think so .

Jft, not sure what you mean by "theory".  Once a depositional trend bearing commercial HCs is shown to exist, lease bonuses and mineral royalties start escalating and can skyrocket as the areal extent and productivity are better and more positively defined.  Every significant trend follows this rule as long as market forces are free to operate.  I would expect that any future sell down will follow that rule.  The obstacle here that hinders it most is the lack of a means to get it to market for several years.  That's a real drag on it

No basic disagreement here.  However, with the Total LNG partnership, that obstacle is much less than before, and will lessen considerably more with FID.  Furthermore, a significant oil discovery would essentially blow it away.