One down 34 to go is the word

[jft310]

Bullish IOC analyst stated this to me this AM.He stated its the exploration upside the Majors want.They will take NG but they want Oil. The title means one area explored E/A and 34 more to go.Fung Guo to the LNG thats not what they the majors care about its the potential resource upside that matters.Comments from the majors not Japex and Kogas huh. That means also yes T-2 matters.

[Palm]

Tusker needs to get his visual acuity going for T2. What's that you see at the bottom of that formation Tusker? That brownish layer. Can't remember.

[Tusker]

Oh my. GABP revisited. Really got a great view from those conference rooms.

I believe it has to do with liquids. Condensate produced on field is considered oil.
Think E/A & B/T combined.

10-20 thousand barrels a day for your own refinery. What's not to like?

Bring me TD.

Tusk

[jft310]

IOC buys its feedstock today for its refinery and what happens to IOC margins, Motley Fool, when they feed their own feedstock to their own refinery.??Phil states IOC saves $1 Billion per year.Now thats what we call margins.

[Palm]

So Tusk, your visual acuity training has been kept up to date I assume? Then that sounds like a very nice thing that we can soon be tipping our cups to. Looking at what pps did back when Ant 2 began to shape up, and then adjusting for today's prices. I think one of those articles today said that the SMs and NOCs really want to see some wet stuff that Australia doesn't have. Top of structure should be very close at hand.

[Tusker]

Up to date is a very near possibility.

[Tree]

PRL 15 is E/A and feeds Gulf LNG, and is what will define PDL for Gulf LNG Project. Awaiting NEC approval. Strategic partners/LNG operators bidding here (KOGAS and others), likely no SM wants only a piece of PRL 15 action.
T-2 is beyond PRL 15, validates seismic work indicating vast hydrocarbon potential in several other prospects, reefs in IOC tenements. Beyond PRL 15 is where Mitsi/JAPEX have interest and the SMs have set their sites.

Success at T-2 shows enough local feedstock for 8.5-10 Mtpa project NEC and Gulf LNG Partners want. T-2 success also makes buying in beyond PRL 15 very expensive. Update prior to March CC ? Size it up and sell it off.