Drilling Update reservoir 217 Ft higher

[Gator]

On November 27th, 2012, InterOil was notified by the Papua New Guinea Department of Petroleum and Energy (DPE) that it had been granted an approval of license variation to PRL 15, allowing the company to defer the drilling of a second commitment well from the first two year work program into the second two year work program. This should allow InterOil to manage service industry cost as we ramp up to a two well drilling program without straining the available resources in PNG.

"The Antelope-3 well has confirmed the top of the reservoir is over 200 feet higher than prognosis. These results support our reservoir model, and, all else being equal, should have a positive impact on our year-end resource estimate. Furthermore, we are pleased to have the support of Minister Duma and the DPE to allow flexibility to control costs and logistics of a two rig operation," said Mr. Phil Mulacek, Chief Executive Officer of InterOil.

[sfiaes]

The gas is there. The deal will get done. The fear subsides. The momentum shifts. Finally.

[Tusker]

The Antelope-3 primary objectives are to: 1) confirm reservoir depth, composition, character and continuity

Yes, that was worth a highlight.

Cheers

[TxPm]

So DPE approved extension on Tues & that short attack was Wed morning. Anybody think that extension info was "leaked"

[admin]

The gas is there. The deal will get done. The fear subsides. The momentum shifts. Finally.

Yes, but in fact the gas was always there, per 3 different independent resource evaluators and a host of third party produced well data. The creation of doubts simply comes from a host of BS artists with bad intentions

[sfiaes]

"but in fact the gas was always there"

Been there millions of years, just took some wranglers from the US, Australia and Canada to figure it out.

[jft310]

Their latest crap is Petromin.If Petromin isn't careful they will be outside looking in.Look at the % ownership of Petromin with Exxon/OSH. Less than 2%. Aurther Somare got the IBPC set up to manage most of the PNG govts interest. If Petromin messes around they will lose again. Or nice try Shell.Use the front door with a bid $2.50 per mcf range. Or see ya.

[TxPm]

I'd like to 1) get Pet's thoughts on this new info 2) get everyone's thoughts on about how long the drill stem testing & other activities should take

[jft310]

Pet would quite helpful as always. As far as the reservoir size look at the Morgan and RJ reports which state clearly and now confirmed with the drill bit that estimates can move up one category in size best guess. Exactly what Morgan and RJ stated. That means 12 some T's including condensates should be at E/A. Exactly what Henry Aldorf stated awhile ago in NYC at an Institutional Conference and what he stated at the LNG Conference video. Might want to pay attention to his update of that number including Triceratops. Its 18 T's plus liquids today. Just remember that number and we can look in Feb/Mar 2013 when the new GLJ comes out. GLJ may be conservative but this is Henry's today number. He been perfect so far in his work.
No changes no adjustments. Just perfect.

[Tree]

How high is prognosis Dr. Phil??
Toot Toot