Elk 3 looks ready; Chopper 1 lifts off from site

[Palm]

Sure looks like things are ready at Elk 3.  Pretty neat video shot about a month ago of the chopper lifting off from Elk 3.

http://www.youtube.com/watch?v=zAAr4IjOZwk

[Movieguy]

This is the one Phil said they would spud by the end of the month and it was thought they'd need to have announced the partner by then, correct?

[johnwgrant]

Palm - thanks for sharing the video. I think Phil was for spudding Elk-3 no matter whether the winning bidder was announced or not...

I'm guessing that the board may take the "conservative" approach (ie, don't spend any money or rock the boat) and wait until the successful bidder has agreed and signed the HOA...

JMHO...

[johnwgrant]

I know that we as investors are frustrated by the delay/lack of info - but, can you imagine how frustrating this is for the employees of InterOil. Rig #3 has been rigged up at Elk-3 for roughly 4 months, the crew has been finished with Ant-3 for approx. 2 months, and still no green light to drill. As Schultz of Peanuts fame liked to phrase it: "Rats !!!"

[Palm]

Agree jwg. The guy who posted this video (Appel Koos) has quite a few videos he's posted on YouTube and a good number are of IOC activities. This one shows a "Crushing Operation" at Elk 2. Anyone have an idea what this would be about? Assume limestone they are using for roads, etc throughout EA? Some of these videos show the extensive roads, camps and wharfs they have built. Will make it much easier for the new partner(s).

http://www.youtube.com/watch?v=3C-8Y_05eSU

[Brew Swillis]

These appear to have been recently uploaded but seem older.  The "Search for 206 flight crew bodies Wabo Interoil PNG" video would likely have been taken around the time of the crash which was last July.

[Palm]

Some are, but the Elk 3 has to be fairly recent as the rig is up. Main value is to see what all they have built up there that will make development go much more quickly.

[Getitrt2]

This is the one Phil said they would spud by the end of the month and it was thought they'd need to have announced the partner by then, correct?

My recollection is that he did NOT say "by the end of the month", but rather in the next few weeks, from then.

[jft310]

Terrific to see the video. Thanks. When seems to be around the deal announcement to me.

[Movieguy]

This is the one Phil said they would spud by the end of the month and it was thought they'd need to have announced the partner by then, correct?

My recollection is that he did NOT say "by the end of the month", but rather in the next few weeks, from then.

Yes, it said: He told PNGIndustryNews.net it was very close to being ready and indicated that drilling could start over the next few weeks.   This was reported on April 5, so I just rounded it to "the end of the month."