Where will we see indications of gas at T-2?

[Tusker]

Well, after some serious deliberations with "Ma" and some very fine 2003 Red, I move back / up from Pet's estimate by a 1000 feet. Being the peak of a vast formation, I expect much earlier returns. Though, I will default - if the first big kick is only a pocket just below the shale.

The possibilities of a sands - a toe on a shallow inland sea are fascinating.

We are looking down millions of years at a Great Cat - which we are going to tap on the nose. Wait my friends, you are going to hear a Great Roar !!

Thanks to Pet for his insights.

Salutations

Tusker

[ValueSleuth]

It is highly likely there will be a T-2 drilling update provided in the upcoming 4Q2011 earnings release CC presentations by various IOC presenters and in Q&A responses.

That CC should be in mid-February, right?

VS

[Getitrt2]

No, Sleuth, since it will be year-end filings, the cc is likely to be in March.

[admin]

Interesting discussion here. It's like the good old days. Excitement coming back, stock price as well, we all go over drill reports and Pet's analysis and interpretations..

Question, why would they hedge their bets with considerable margin as to where the top of the reservoir is? A 500ft margin of error seems a bit large, doesn't it?

[petrengr1]

In my first post in this string I gave you the wrong link, so I will correct it here.

“They are hedging their bets a little in the PR today where they said they expect the top of the carbonate reservoir to be 1500 feet above the water contact. In April of 2011 they presented” :

http://www.interoil.com/presentation/201..._Final.pdf chart 22.

This chart shows they expected to hit the top of the carbonate 1500 feet higher than the top of the carbonate at Bwata-1. Bwata-1 had 512 feet of gas column. Therefore Bwata-2, now called Triceratops-2, should have 2,012 feet of gas column.

Now their PR says “is predicted to penetrate the top of the carbonate reservoir approximately 1,500 feet higher than the gas water contact established in the Bwata-1 well.”

The PR to be issued when they hit the top of the carbonate will look much better if they can say “ we penetrated the top of the carbonate 500 feet higher than expected”.

[admin]

Ok, got it, thanks Pet.

[Palm]

Just to keep a tab on things; pushing this back up. If things are going at all "normal", they should be within striking range of the top of the formation any time. Original estimate was 30-45 days and T2 was spud on January 17th, 36 days ago. Hohoho, should be close at hand.

[petrengr1]

"They are hedging their bets a little in the PR today where they said they expect the top of the carbonate reservoir to be 1500 feet above the water contact. In April of 2011 they presented http://www.interoil.com/presentation/201..._Final.pdf chart 22 which indicated they expected the top of the carbonate to be 1500 feet higher than Bwata-1 which would make it 2012 feet above the gas water contact."

March 5, 2012 Confirmation received! Top of reservoir came in 212 feet high. At the T-2 location the gas column is about 2,200 feet thick or the top of the reservoir is +/- 2,200 feet above the gas/water contact.

[my2cows]

Hey seem to be getting pretty good at finding these reefs. I think any significant add to there resources will have a huge psychological impact on there potential.

[Spartina]

Agree My2, It makes the rest of the"rolodex" look that much more valuable.