Another Lucky Guess

[petrengr1]

PET- you may have missed this story PRE announced on their website they will provide two rigs for Triceratops this year. So yes we agree IOC will use its two rigs plus the two from PRE per PRE. That link and story were posted here , But then alot of things are posted here.

JFT- I have searched the PRE website for this information and I can not find it. This is very important to the IOC story. Can you please direct us to this information with a link or copy and paste? Thanks for your help.

[jft310]

Under Management Discussions of PRE's Quarterly comments latest one or one before on their website can't remember the poster not Tree or Palm. I am Getting old can't remember the posters name but its here. Hope this helps you find it. I would search PRE drilling in Papua New Gunea. Tree remembers the post also but he's working today in the truck . To me Wayne comments yesterday about 8 wells being drilled at the same time is saying the same thing.
We know IOC has 2 rigs, PRE will supply 2 and they are soliciting bids on a farm in agreement for 236 and that's more rigs. Yesterday in the breakout sessions Wayne Andrews stated 8 rigs to be drilling fully funded . Thats $280 million a year in cash from the sell downs for just the drilling program. Maybe the poster will see this and bump back up or you can find on the PRE website.

[Getitrt2]

Nothing much new here. For new items look at the last page, Slide 37. 1. Will have a two rig drilling program. (no new rigs) 2. May drill Tuna and Mako/Wahoo late this year or early next year. 3. Will concentrate on Elk/Antelope and Triceratops. No firm word whether Rig 2 will drill Antelope-4 next or go back to Triceratops. 4. PRE has proposed two wells at Triceratops.

Apparently going mostly unnoticed in today's slide presentation is Page 11, "PRL 15 Delineation Continues With PLANNED Elk-3 and Antelope-4 Wells".  I have heard that the now planned Antelope 4 is expected to be drilled between Antelopes 2 and 3.  That probably will be drilled with Rig 2, which has been being broken down and prepared for the next well, and, of course, is already located in Antelope.  It certainly sounds like IOC and the DPE are completely on the same page with respect to drilling priority being with Elk/Antelope.  I would not be surprised if they get a rig or rigs for PPLs 236 and/or 238 from one or more new farm-in partners.

[TxPm]

JFT,

The 8 rig comment....was that in reference to just the PRE deal or in total btw all the fields? Also did he give a timeframe?

[jft310]

All fields I was told but I was not there and can't say for sure.But yes 8 rigs all fully paid for drilling program.

[TxPm]

Thanks, Also Pet look at slide 15 of the Jan 2013 investor presentation. It says we will be drilling two new wells this year in triceratops & completing roughly 243km of 2D seismic work.

As of now I haven't been able to rid anything referencing new rigs but I could just be looking at the wrong presentations

[jft310]

The poster had a link. Alas I have no clues as to where it is.

[jft310]

This is not what was posted but it interesting as regards PRE. Look at their PRE's Open House 2013 slides. See on slide 99 of 119 that PRE plans to drill 3 wells in PRL 237 in 2013 and 7 wells in 2014. Kinda answers the question huh.Add in WA comment yesterday and we are off to the races.

[efi426hemi]

PRE Presentation: http://www.pacificrubiales.com/images/stories/pacificrubiales/archivos/presentations/2013/ingles/130415%20Investor%20Open%20House%20-%20Consolidated.pdf

[petrengr1]

Thanks JFT and EFI for leading me here. I think I see something interesting. If you don't mind I think I will put it on a new thread.