Oil Search Resource Press Release

[SupaSage2003]

Oil Search Says Elk-Antelope Avg. Certified 2C Resource 6.43 Tcf

Thursday, July 14, 2016 07:39 PM

by Vivek Shankar

(Bloomberg) -- Oil Search says two independent certifications on Elk-Antelope fields show average 1C resource 5.17 tcf, average 2C resource 6.43 tcf of raw gas.

• Certification sufficient to underpin two additional LNG trains in PNG
• Oil Search not required to make additional payments because certified 2C resource <7 tcf
• NOTE: CVR in InterOil deal calls for $6.05 in cash for each tcfe of 2C hydrocarbon gas resource more than 6.2 tcfe
  
  • 3C resource range is 7.57-8.11 tcf, Oil Search says

[bdahl385]

Average 2C at 6.43 TCFe, what a crock, the CVR is virtually worthless at that level.... roughly $1.20 from quick math.


http://www.asx.com.au/asxpdf/20160715/pd...qjrj28.pdf

[Putncalls]

This is lower than the pre A3 GCA estimate.

[Stavros]

You can easily manipulate the Certification by not providing sufficient data to the Experts.

This is EXACTLY what Phil Mulacek predicted would happen.

XOM is now looking at all the data - - - let's see what they do

HESSION IS A TRUE CRIMINAL

[Putncalls]

What ever the reason: It sucks.

[will2bgreat]

3 years, 3 wells and the GCA 2C number goes down.  Wow!

[petrengr1]

This is unbelievable! 6.43 TCF is 59% below the GLJ number of 10.2 TCFe.

Will the stock be down $6/share at the opening tomorrow or will the Exxon bid hold it up a little?

Based on their number the CVR's are worth $1.40/share.

[Libtardius Maximus]

Not good at all, but hey, Hession gets his millions

[SupaSage2003]

I thought the CVR payout value was supposed to include the results of Antelope 7?

[Putncalls]

Yes it does. The last three wells did not increase the GCA or the GLJ estimates though.