NGE sells to XOM

[sageo]

Pet - Tree makes mention of slide 7 .   It also contains good info as does slide 21. I see E/A on slide 7,and they refer to it as being Interoil/Exxon,but I don't see any showing for Triceratops in ppl 237. Am I just not awake yet? Comments when you have time,please. Thanks.

[Palm]

I had also noted Slide 7 last night. As far as Tri, NGE has it noted on Slide 8, but in very small print and it's labeled "Triceratops 1". They don't show the prooposed PRL license area. Hope that helps Sageo.

[jft310]

NGE slides -they may not have taken the time to delineate all the IOC info.
I see 10 T's with Interoil and 9 T's with Oil Search . Ho Ho

[Tree]

What's astounding is XOM is seeking 4.6T from IOC gas stash which still leaves IOC enough gas in PRL15 for optionality of a standalone Gulf LNG plant! And then there is the 'bigger and broader' Triceratops and all those other reefs. That small PRL15 area holds as much as that sprawling PNG LNG Project area that blows up gas costs. It's a 2 part problem finding gas and finding gas that is economical to aggregate.

[sageo]

Thanks guys for your feedback. Palm, I do see it now on slide 8. I hope any future presentations will show the true size of Tricera! Maybe the new seismics on ppl 237 & ppl 338 will be presented  soon. Yes Tree, good point about " finding gas".

[petrengr1]

Pet - Tree makes mention of slide 7 .   It also contains good info as does slide 21. I see E/A on slide 7,and they refer to it as being Interoil/Exxon,but I don't see any showing for Triceratops in ppl 237. Am I just not awake yet? Comments when you have time,please. Thanks.

Sageo- Good morning. I see you have it figured out by now. Yes, the Triceratops Field is hard to see on their maps. On slide 7 it is just outside the left edge of the red circle for Interoil/ExxonMobil Area.

I just mentioned slide 21 so you can see PPL 269 and its proximity to the P’nyang Field. Also note the proximity to the Horizon Elevala and Ketu gas fields. If Exxon can discover a little more gas along the proposed pipeline route from P’nyang to Juha they may be able to justify pipelines to aggregate gas from P’nyang, Elevala, Ketu, Stanley, Siphon and any others they find along the pipeline route or in the general area of PPL 269.

Exxon/OilSearch will already have a 60 km/14 inch gas pipe line to Juha although it might not be large enough to handle a lot more gas from P’nyang Field and other fields that might be discovered or tied into the system. They will probably need an additional pipeline from Juha to Hides.

[sydbod]

Have a look at Slide:4 from this Kina Petroleum PDF.
It looks like many parties have an idea of how P'nyang gas should be used.
Maybe the XOM purchase makes sense with this slide also. ????
http://www.kinapetroleum.com/pdf/napepreso300113.pdf

[sageo]

Thanks Pet for your response. Good"stuff" to know for our future actions concerning IOC and PNG.

[ArtM72]

I like slide 15. Their geologists know how to draw straight lines, none of that humpy stuff we see on IOC seismics.

[petrengr1]

Any identified prospects or leads in there?

According to NGE, yes. Go to  http://www.ngenergy.com.au/announcements...conference and download their presentation. Look at slide 21.

This P’Nyang South field was mentioned in the Exxon Conference call today. I appears that they think they have a 650 meter (2,133 ft.) vertical gas column in this field. I believe this is in the Toro sandstone so it should have pretty good porosity. Now they are picking up a 50% interest in the PPL 269 from NGE. If those many prospects shown on http://www.ngenergy.com.au/announcements...conference chart 21 are similar to P’Nyang and P’Nyang South they will have a lot of gas in this area. Also see

http://www.oilsearch.com/Media/docs/1306...d0d1-0.pdf chart 14.

Check out article at: http://www.ogj.com/articles/2012/04/thic...uinea.html

Looks like they are going to need more and larger pipelines if this gas is to be brought to Port Moresby. Will they go East or West of the difficult terrain?