Drilling and the Minority Interest

[Indoreservoir]

WoodMac report attached showing IOC has a 29% POS, Oil Search 10% and XOM 8% on new field wildcats.

And I count one discovery, not 2.  T1 or T2 was a delineation of Bwata-1, though they may be counting Elk and Antelope as separate discoveries.

I won't comment further on this, but will let the reader review and choose what they want to believe.

GLTAL

Note: I've removed the attachment for now so I can post the industry standard exploration risk method by Peter Rose.  In Petreng1's FWIW post.  I'll reattach the woodmac presentation after I shrink its size.  The 2.44 mb attachment limitation for combined attachments poses a difficulty.

[Thylacine-2]

The deal is structured in order to "preserve the upside.". We have all heard that comment from Hession, and I have heard it unsolicited from others who know a lot more about this transaction than myself, and have a lot more money invested as well. So I think, with all due respect, I'm going to be cautiously optimistic that there is more gas there, rather than cite statistics that dont really amount to a hill of beans. We are talking about an area that has been studied explicitly by Dave Holland and IOC, so to say track records in other areas of the world are relevant here is a Serious leap IMO. Good luck longs

jdeo, I agree that the statistics cited by Indoreseroir "don't really amount to a hill of beans".  Stavros' post was right on.  The people at IOC running the exploration program are going about it like they think there is a good chance of success.

My guess doesn't amount to a hill of beans either, but just for fun, here goes:

Bobcat...right in the trend, bracketed by productive reefs on each side.  POS....  high.

Raptor...adjacent to Elk/Antelope.   Deeper.  Reef or sandstone?.....POS ...?

Antelope Deep....Beautiful Structure. Huge.  Needs a closing fault on north side....POS...?

Wahoo....A step out down the string of pearls...POS....medium

Right on, Thylacine.  One correction I think might be needed.  I don't think Antelope Deep "needs" a closing fault;  without a fault on the north side, it may be in communication with Antelope, which would be even better.

  Yeah, Getitrl2, if the fault on the north side isn't "closing" then Antelope Deep may be in communication with Antelope.  But then it would likely be below the gas/water contact. It sure is a beautiful structure, just yelling " Drill me! Drill me!".

[Putncalls]

Sorry a meant T2 not T1. Since E2 the success rate has been 100%. The predictions as to the location of pay zone has also been accurate.