"....the next 18 months..."

[Kaliboo]

Hession said recently,

"The rest of us at InterOil still have much to do in an exciting future as a large and growing employer in Papua New Guinea. Our exploration and appraisal program involves up to eight wells in the next 18 months and we are busy preparing for development of the LNG project at Elk-Antelope in the Gulf Province. Strategic focus and financial discipline have enabled us to create valuable new opportunities. Those same qualities will continue to guide us."

I recall that one of the very first times he talked about this drilling program (last December) it was all supposed to happen by end of Q1 2015.  Then it quickly became "the next 18 months."  Now it's 6 months later and it is still "the next 18 months".  It's pretty clear that the schedule is blown unless more rigs are added.  I wonder when it will be before he's confident enough to say "next 12 months" or anything less than 18 months.  It will be a subtle indicator when we finally hear it.  Suffice it to say for now that they don't have a clue.

[jft310]

Hession said recently,

"The rest of us at InterOil still have much to do in an exciting future as a large and growing employer in Papua New Guinea. Our exploration and appraisal program involves up to eight wells in the next 18 months and we are busy preparing for development of the LNG project at Elk-Antelope in the Gulf Province. Strategic focus and financial discipline have enabled us to create valuable new opportunities. Those same qualities will continue to guide us."

I recall that one of the very first times he talked about this drilling program (last December) it was all supposed to happen by end of Q1 2015.  Then it quickly became "the next 18 months."  Now it's 6 months later and it is still "the next 18 months".  It's pretty clear that the schedule is blown unless more rigs are added.  I wonder when it will be before he's confident enough to say "next 12 months" or anything less than 18 months.  It will be a subtle indicator when we finally hear it.  Suffice it to say for now that they don't have a clue.

****Press releases have been posted on SHU about a new 4th rig arriving I believe in July .Company Helio owner/contracted to Interoil, location Brazil ,rig is on a baot. Further a second Helio rig is being shipped with out a contract to PNG. Antelope 4 and 5 well sites are prepared. Further talk about an Oil Search rig being available. Can't confirm that. The new Helio rig will drill Antelope 4 or 5 and then one of the current 3 will move to do the other Antelope wells. These are the certification wells. Might need one more certification wells.****