2 Rigs, 1 Drill Team

[Tree]

..."This should allow InterOil to manage service industry cost as we ramp up to a two well drilling program without straining the available resources in PNG.   ..."Furthermore, we are pleased to have the support of Minister Duma and the DPE to allow flexibility to control costs and logistics of a two rig operation," said Mr. Phil Mulacek, Chief Executive Officer of InterOil."

Looks like IOC plans on using their crack drill team on Ant-3 and Elk-3 consecutively, rather than importing/staffing for a second simultaneous drill team and Duma agreed.

Sorry Shorts, there is nothing scary here.

This post passed both the BS & Rubbish detection Tests.

..."This should allow InterOil to manage service industry cost as we ramp up to a two well drilling program without straining the available resources in PNG. 
 ..."Furthermore, we are pleased to have the support of Minister Duma and the DPE to allow flexibility to control costs and logistics of a two rig operation," said Mr. Phil Mulacek, Chief Executive Officer of InterOil."

Looks like IOC plans on using their crack drill team on Ant-3 and Elk-3 consecutively, rather than importing/staffing for a second simultaneous drill team and Duma agreed.

[jft310]

One of my IPI contacts confirms what Tree states.

[johnwgrant]

So, do they spud Elk-3 AFTER Ant-3, or, do they drill to Total Depth on Ant-3 and while testing on Ant-3 is underway (aside: testing always seems to take a long time) then drill Elk-3 ?

[Tree]

So, do they spud Elk-3 AFTER Ant-3, or, do they drill to Total Depth on Ant-3 and while testing on Ant-3 is underway (aside: testing always seems to take a long time) then drill Elk-3 ?

I'd say they move to only  Elk-3 after Ant-3 is thoroughly probed, tested and finished for production.

What's the rush??

Afterall, IOC needs more stranded gas' like they need NEC approval, a $100 million loan, PRE JVOA, robust bidding and a hole in the head!!