PNG to ship gas ahead of schedule

[sydbod]

One rig can't drill 4 wells in 12-15 months.

It normally takes OSH around 3 months to do the actually drilling of a well. Should be about the same for other companies in the Highlands.

How long it takes to knock down, reposition, rebuild before a well starts to be drilled depends very much on where and the distances between the drill sites.

One rig may be enough (very tight schedule with nothing going wrong), but we will have to wait and see.

[Palm]

OSH is providing one rig. If you review the PRs and what Botten said it was that they are providing one rig for two wells with the option of 2 additional wells.
That statement is in this PR:
http://www.oilsearch.com/Media/docs/1402...222f-0.pdf

[ArtM72]

OSH is providing one rig. If you review the PRs and what Botten said it was that they are providing one rig for two wells with the option of 2 additional wells. That statement is in this PR: http://www.oilsearch.com/Media/docs/1402...222f-0.pdf

The company's website also cites an eight well $300 million driling campaign at http://www.interoil.com/investor-relations-news-and-press-releases/2014-2/interoil-begins-drilling-wahoo-1/

Listen to JFT and you wonder why on earth Interoil would want to buy 10 rigs to drill only eight wells.

[jft310]

Art-Go back and listen to the Hession CC.He clearly stated 5-6 rigs drilling this year. Thats my source a public statement from the CEO.
Further we have the OSH comment about 4 wells with 1 rig??Not likely. I prefer to listen to the guidance of the CEO.I wonder how we get to 5-6 rigs. OSH has good odds of providing the rig .

[ArtM72]

Art-Go back and listen to the Hession CC.He clearly stated 5-6 rigs drilling this year. Thats my source a public statement from the CEO. Further we have the OSH comment about 4 wells with 1 rig??Not likely. I prefer to listen to the guidance of the CEO.I wonder how we get to 5-6 rigs. OSH has good odds of providing the rig .

JFT -

Palm beat me to the punch, posting the CC transcript excerpt over on the other thread with Hession stating four.  I trust that put an end to the matter.  As to the four wells with one rig, how that can be done that shouldn't be hard to figure out so long as one doesn't make up a time constraint and attribute it to a statement allegedly made by one of the players.

[Getitrt2]

Pet stated elsewhere that he thought Rig 2 might possibly go to PRL 15 after Bobcat to accelerate drilling there. Various possibilities.

[Getitrt2]

I repeat this question/challenge I posed/issued above:

"Can anyone provide an authoritative source since the announcement of the Total deal, such as some statement by the Prime Minister or DPE Minister, that "PNG is keen to use the existing PNG LNG plant site to speed development of Elk and Antelope", as stated in the article above without any source, something more authoritative than musings about possibilities by OSH or press speculation?"

If no one can provide any such source, I think it will be appropriate to conclude that this claim a lot of people have been expressing is unsupported and likely false.

Perhaps I should add that the Feb 27 Morgan Stanley Australia report on OSH and their deal expressed the expectation that OSH will participate in an "independent LNG project consisting of 1 or 2 trains" supported by PRL 15, and in "a third train within the Exxon JV" supported by "growth in reserves at the Hides field, development of the P'nyang gas field, or some combination thereof", with other resource-upside options in the Juha and Angore fields, production from which train "we assume 2018".

[jdeo1969]

I don't think it is necessarily likely false considering that oneill was on record as being supportive of the IOC Exxon deal in the first place. To say we don't know is accurate, to say that it is false that the PNG govt is NOT keen to speed development is inaccurate because we simply do not know. It is like everything else right now, pure conjecture. But for anyone to state that we KNOW the govt wants ELK/ANT gas to go to PNGLNG is false currently as well and more conjecture.

[Getitrt2]

Yes, he was supportive of Exxon negotiations last year, but that was before Total entered the picture. He also supported the Total deal in December, which left the previous support of Exxon irrelevant. The question now is why all these claims of favoring Exxon over Total now?

[Getitrt2]

I repeat this question/challenge I posed/issued above:

"Can anyone provide an authoritative source since the announcement of the Total deal, such as some statement by the Prime Minister or DPE Minister, that "PNG is keen to use the existing PNG LNG plant site to speed development of Elk and Antelope", as stated in the article above without any source, something more authoritative than musings about possibilities by OSH or press speculation?"

If no one can provide any such source, I think it will be appropriate to conclude that this claim a lot of people have been expressing is unsupported and likely false.

Perhaps I should add that the Feb 27 Morgan Stanley Australia report on OSH and their deal expressed the expectation that OSH will participate in an "independent LNG project consisting of 1 or 2 trains" supported by PRL 15, and in "a third train within the Exxon JV" supported by "growth in reserves at the Hides field, development of the P'nyang gas field, or some combination thereof", with other resource-upside options in the Juha and Angore fields, production from which train "we assume 2018".