News tomorrow?

[Gator]

A few times IOC reported drilling or deal news the day before the earnings were reported. Maybe news tomorrow, just hope it's good.

[Palm]

Could be Gator; I think anywhere from tomorrow through early next week would fit their "pattern" of what they've done recently. To me that's about all that's important at this point. Ant 4 is basically a known, being low or out of cash (without tapping the line) is expected, the chance of a new transformational deal is beyond slight and the liklihood of a $90 million loss for the qtr is high.

Spudding of Ant 6 really is all that matters as getting that SOB completed is what stands between now and Certification payment. The longer it takes to get spud accomplished the more uncertainty about real intentions there are. We don't need that. Spin the bit boys.

[Putncalls]

Maybe Management doesn't want to spin the bit. If the A6 results are known the value of IOC is known. That makes a buyout easier.

[MartiniStocks9756]

Its not spin the bit. It is how are they going to spin the story.

[Palm]

There's nothing to "spin" at this point. It should be a very uneventful call IMHO. Hession has pretty much spent any enthusiasm over the last year and the industry is in a quagmire and any spinning is like sitting in a rocking chair and rocking your brains out. It doesn't get you anywhere. It's not a time for fantasy, but realism and progress. Report the state of the situation and move on to Q4 and the spudding of Ant 6. The most "creative" thing we might get is some way they've deferred having to pay the $68 million by Sunday. Depending, that could be a "good" thing, but no needle mover.

Analysts will likely have questions like, "How's the wife and kids?", "What's the weather like down under these days?"

[jft310]

Basically I agree with Palm. I think we may get a spud of Ant 6 soon , maybe after the call and an update on Ant 4 sidetrack . Not much elsr is predictable .

[sageo]

Its not spin the bit. It is how are they going to spin the story.

Martini - H there ." How are they going to spin the story"? I'm not sure,as my field is geology.....which right now isn't much help. However,at this point,I do like Pet's comments about not knowing the full extent of the reservoir to the southeast ! [ That area still could add greatly to our" she is a giant" ] .Also,let's not forget that we still have an "elusive or unknown" actual fault extension to the west.....which translates to "mucho more gas ! The "spin" by IOC (if there is some) should be toward the positive (receivers), and the other side,OSH and TOT (payers) should possibly be negative or at least neutral . Kinda' interesting at this juncture. As aways,best to you and yours.

[petrengr1]

The spudding of Antelope-6 should be imminent. It has been nearly a month since they advised us that they would be adding a second rig in PRL15. I believe they are moving the rig from Triceratops-3 to Antelope-6 and that should not take more than one month since the Antelope-6 well site has been ready for some time.

Antelope-4 ST-1 should be drilling the pay zone by now. I hope they have already finished with the drilling and are now logging and preparing to test. As I said before I doubt that we will see any coring in this small hole but I hope I am wrong. I would like to see an oily core in dolomite from about 100 meters (+/-300 feet) above the gas/water or oil/water contact.

[Palm]

Thanks Pet. We need to get the drone fleet airborne again. Tucker, please mobilize

[Getitrt2]

I basically agree with Palm, except that I think they will pay off the bonds and see that as a good thing, and that analysts will have much more to ask about, although I am very uncertain about the extent of the answers. I think things they may ask about include Triceratops results, more details and comments on PRE, Ant 4 testing and status of the ST, Ant 6 spudding, Ant 7 decision, Ant South, resource estimates comments based on latest information, latest on resource engineers and certification timing, and maybe even future exploration and progress on Papua LNG.