InterOil Returns to Wahoo

[Putncalls]

The drilling at Wahoo really isn't news though. Why would the news generate so much action?

[jft310]

The shorts biggie was compartments now totally blown away . Low size also an arguement now blown away . There is no short thesis today except time which is well balanced with each new T proven yields $600 million to Interoil with $400 million at certification.

[Palm]

Remember the statements about being in Paris last week; IOC wigs and PNG wigs. This was likely for the International O&G conference. Hard to believe there weren't some side meetings going on. Then yesterday's AGM, then the beginning of the US "roadshow". Lots of info to the good side disseminated to institutional investors me thinks. Wahoo was the next step in the plan.

[Movieguy]

Sounded like the next spudding of a well would occur before mid-month.

[jft310]

Sounds like Triceratops is next

[Tusker]

Sixth exploration discovery coming to a well watcher like you.

Did anybody ask DH about Wahoo>

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Funny, the timing of a sovereign management.

**********

Eoin O'Cinneide 

 10 June 2015 10:08 GMT

InterOil has resumed drilling at the Wahoo prospect in Papua New Guinea where higher-than-expected pressure and gas entering the wellbore halted a probe last summer.

The company has spudded the Wahoo-1 sidetrack exploration well on PPL 474 in Gulf Province, it said on Wednesday.

The new well is a follow-up to the problematic Wahoo-1 probe where progress was suddenly halted by a safety alert last July when InterOil unexpectedly struck gas well above its target zone.

InterOil had begun drilling at Wahoo-1, a multi-trillion-cubic-foot gas prospect, in early March last year. It ended up striking “significant concentrations” of methane, ethane, propane and butane.

“The Wahoo-1 side-track is a significant step-out from existing gas fields and will test whether the successful trends identified around PRL15 extend 170 kilometres to the south-east of Elk-Antelope,” the company said on Wednesday.

Chairman Chris Finlayson also said on Wednesday that InterOil and French supermajor Total are set to kick off front-end engineering and design work on the Elk-Antelope liquefied natural gas project, with a preferred development concept expected by mid-year.

“In 2015, we are scheduled to select a preferred development concept and begin (FEED) for the LNG plant,” Finlayson said.

“The on-going appraisal at Elk-Antelope is increasing our confidence in the resources to support a two-train project. The financing and marketing of the project will also commence this year. We anticipate first gas early in the next decade.”

50 days since the drill bit began to spin at Wahoo.  What will the next 10 days bring? A reservoir of ....

I recall some time ago a mention that InterOil's recent exploration program included at rig site/zone that was built on top of a gas seep.  As to who,what,where,why,how,and when I can not locate the LTM.

Old fashion geology reports note that oil seeps locations were exploration sites.  Was it Wahoo that was built over a gas seep?  This makes for a note of sorts.  Gas seeps are fractures in the surface/seal.  Did Wahoo drill into a highly fractured zone of the lower seal created by compressional forces?  Compression may be reason we have 1000+ PSI in excess of the normal gradient.

Listening for the roar of a big wild cat.

Cheers

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[Tusker]

Sixth exploration discovery coming to a well watcher like you.

Did anybody ask DH about Wahoo>

" border="0" class="smilie" src="images/smilies/cool.gif" />

Funny, the timing of a sovereign management.

**********

Eoin O'Cinneide 

 10 June 2015 10:08 GMT

InterOil has resumed drilling at the Wahoo prospect in Papua New Guinea where higher-than-expected pressure and gas entering the wellbore halted a probe last summer.

The company has spudded the Wahoo-1 sidetrack exploration well on PPL 474 in Gulf Province, it said on Wednesday.

The new well is a follow-up to the problematic Wahoo-1 probe where progress was suddenly halted by a safety alert last July when InterOil unexpectedly struck gas well above its target zone.

InterOil had begun drilling at Wahoo-1, a multi-trillion-cubic-foot gas prospect, in early March last year. It ended up striking “significant concentrations” of methane, ethane, propane and butane.

“The Wahoo-1 side-track is a significant step-out from existing gas fields and will test whether the successful trends identified around PRL15 extend 170 kilometres to the south-east of Elk-Antelope,” the company said on Wednesday.

Chairman Chris Finlayson also said on Wednesday that InterOil and French supermajor Total are set to kick off front-end engineering and design work on the Elk-Antelope liquefied natural gas project, with a preferred development concept expected by mid-year.

“In 2015, we are scheduled to select a preferred development concept and begin (FEED) for the LNG plant,” Finlayson said.

“The on-going appraisal at Elk-Antelope is increasing our confidence in the resources to support a two-train project. The financing and marketing of the project will also commence this year. We anticipate first gas early in the next decade.”

50 days since the drill bit began to spin at Wahoo.  What will the next 10 days bring? A reservoir of ....

I recall some time ago a mention that InterOil's recent exploration program included at rig site/zone that was built on top of a gas seep.  As to who,what,where,why,how,and when I can not locate the LTM.

Old fashion geology reports note that oil seeps locations were exploration sites.  Was it Wahoo that was built over a gas seep?  This makes for a note of sorts.  Gas seeps are fractures in the surface/seal.  Did Wahoo drill into a highly fractured zone of the lower seal created by compressional forces?  Compression may be reason we have 1000+ PSI in excess of the normal gradient.

Listening for the roar of a big wild cat.

Cheers

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60 days since the drill bit bagan to sipn at Wahoo.  What will the next ** days bring bring? A reservoir of....

Well watchers have likely viewed the CC notice on InterOil's Web Site.  Those same knowledgeable people likely recognize the what and where of that picture .

Perhaps we have a subject selection of interest (....) for the CC call this Thursday.

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The twinkling flowing light in the corner right lens of those sunglasses is still there.

[vidon]

Tusker, it sure is great to have a "seer" on our team. You have had visions of Wahoo for a long time, sure hope your visions of old animals (not me !)and hootin' will be announced very soon.

[jft310]

Mr String of Pearls .....

[Getitrt2]

As of yesterday, results from Wahoo is now, at Raymond James, a "Highlighted Catalyst (high-magnitude events expected within the next month)".