New Information in Today's Presentation

[petrengr1]

I see a couple of morsels of new information that are of interest.

1. If you look at     http://tinyurl.com/qjpsh24 Slide 10 you will see that they have confirmed the numbers that I had previously calculated for you i.e. The top of the formation in Antelope-4 ST-1 is -1,875 meters sub sea (6,152 feet) and the gas column at that point is 340 meters (1,115 feet) thick. We do not know yet if it is all dolomite. That should be determined by the logs they are presently running.

The more important information presented on this slide is the graph to the right of the core data from Antelope-4, the original hole. We do not have any core data from the present hole, Antelope-4 ST-1. The data shown for Antelope-4 (red dots) comes from the top 33 meters (108 feet)  of the pay zone in the original well. It appears that they had core analysis done on about 60 different pieces of the core so that would be enough to have about 2 samples analyzed from each meter of the core. As you can see they had about 20 of these cores that had porosity above 20% and 5 that had porosity of more than 25%,  two of which had porosity of 29%. This shows that the top 33 meters of the pay zone at Antelope-4 was the best porosity that has been reported from any of the previous wells as far as I know. You will also notice that 17 of these cores had permeability between 100 millidaries and 1,000 millidarcies (1 darcy). Five of the samples had permeability of about 1,000 millidarcies or 1 darcy. I believe permeabilities this high in carbonate rock is very rare and I believe the permeability here compares favorably with Antelope-5.

2. The other piece of new information is found on Slide 12 where they tell us that the logs at Triceratops-3 “Confirms common gas-water contact”.  What this means is that they see the same gas-water contact at Bwata-1 and Triceratops-3 which supports the theory that the whole field has this same gas-water contact    (except of course the lower reservoir in Triceratops-2 where the gas-water contact was different). I think this gas-water contact is at about -1,490 meters sub sea as is shown on http://tinyurl.com/may8c52 page 24. We still do not know the derrick floor elevation at Triceratops-3 so I can not accurately determine the gas column thickness here, but I had previously guesstimated that we have about 440 meters (1,444 feet) of gas column at this location http://tinyurl.com/ppse5xo Post no.4.

[Palm]

"I see sunshiiiiine on a cloudy day....." Thanks Pet!

[petrengr1]

Let’s have a look at the new map at   http://tinyurl.com/qjpsh24 slide 13. This map shows the latest size of the discovered gas fields in orange and the prospects in pink. These must be based on seismic and or gas tests since the  gravity anomalies are shown in yellow.

You can see a scale at the bottom of this map. This time the scale is in miles instead of kilometers. I would like to give you the size of what is presented here for the gas fields and prospects. I will not delve into the gravity anomalies which may become prospects at some point in the future.

Gas Fields/Discoveries

1. Elk/Antelope Gas Field is 10 miles long from North to South and 6 miles wide at the widest point.

2. Triceratops Gas Field (excluding the additional prospective area) is 14 miles long from East to West and 6 miles wide at the widest point from North to South.

3. Raptor Gas Field outside of PRL-15 is 10 miles long for Northwest to Southeast and 1.6 miles wide at the widest point.

4. Bob Cat Gas Field is 6 miles long from Northeast to Southwest and 6 miles wide at the widest point.

Prospects- (No wells drilled yet but I believe defined by seismic)

1. Triceratops-An additional prospective area to the Northwest is 4.8 miles long from East to West and 2.8 miles wide.

2. Antelope South is 12 miles long from North to South and 6 miles wide at the widest point.

3. Raptor prospect inside of PRL-15 is 7.2 miles long from Northwest to Southeast and 2 miles wide.

4. Mule Deer and White Tail combined (west of Elk-4) are 7.2 miles long from Northeast to Southwest and about 4.5 miles wide at the widest point.

That is just the Gas Fields/Discoveries and Prospects. If the gravity anomalies are also proven to be structural closures/traps containing gas this area could turn into something significant.  10 TCF here and 10 TCF there soon runs into real gas..... to paraphrase an old saying.

[jft310]

Hope Gator finds this post . At the AGM Interoil stated in all their land area they hoped to find 52 T's . Interesting to use that number and see PET's post above . Certainly not known or proven today .

[sageo]

Let’s have a look at the new map at   http://tinyurl.com/qjpsh24 slide 13. This map shows the latest size of the discovered gas fields in orange and the prospects in pink. These must be based on seismic and or gas tests since the  gravity anomalies are shown in yellow.

You can see a scale at the bottom of this map. This time the scale is in miles instead of kilometers. I would like to give you the size of what is presented here for the gas fields and prospects. I will not delve into the gravity anomalies which may become prospects at some point in the future.

Gas Fields/Discoveries

1. Elk/Antelope Gas Field is 10 miles long from North to South and 6 miles wide at the widest point.

2. Triceratops Gas Field (excluding the additional prospective area) is 14 miles long from East to West and 6 miles wide at the widest point from North to South.

3. Raptor Gas Field outside of PRL-15 is 10 miles long for Northwest to Southeast and 1.6 miles wide at the widest point.

4. Bob Cat Gas Field is 6 miles long from Northeast to Southwest and 6 miles wide at the widest point.

Prospects- (No wells drilled yet but I believe defined by seismic)

1. Triceratops-An additional prospective area to the Northwest is 4.8 miles long from East to West and 2.8 miles wide.

2. Antelope South is 12 miles long from North to South and 6 miles wide at the widest point.

3. Raptor prospect inside of PRL-15 is 7.2 miles long from Northwest to Southeast and 2 miles wide.

4. Mule Deer and White Tail combined (west of Elk-4) are 7.2 miles long from Northeast to Southwest and about 4.5 miles wide at the widest point.

That is just the Gas Fields/Discoveries and Prospects. If the gravity anomalies are also proven to be structural closures/traps containing gas this area could turn into something significant.  10 TCF here and 10 TCF there soon runs into real gas..... to paraphrase an old saying.

Pet - Thanks for your great post .[ .....keeps hopes and dreams alive ! ]  With Arun going from "exporting to importing" in Indonesia,it really seems to put PNG in a very good position in the world for NG.  Your first paragraph should be very uplifting for us this morning in your "gravity anomalies are shown in yellow". Let's not forget that in bygone years on the early maps E/A,Triceratops,Bobcat were shown as gravity anomalies in yellow. For those on our board 70 or younger , get out some of our earlier maps on the original ppl 475 and focus on the SW quadrant of that lease. Sure,one of those"dinosaurs" could turn out to be a Wahoo, but  what about the others?  If you have a LT view , maybe you would consider putting a few shares of IOC in your g-kids Christmas stockings next month ! I know I am for my 3 great g-kids ......please don't yell at me ....I did say LT ( long ....and I do mean long,long term).  Now that I look again, you can see those yellow g-anomalies on page 13 that Pet refers to in his post. Hope all have a happy and blessed Thanksgiving. PS...I will offer a prayer for the Paris victims. Good day to all our bms.

[jft310]

We have 6 grandkids so far . Yes we have been accumulating a college fund . We fully expect more grandkids .

[sageo]

We have 6 grandkids so far . Yes we have been accumulating a college fund . We fully expect more grandkids .

Jft - Good am and good for you . If some of that college fund money is in IOC stock (and if they someday realize the long frustration period that we have gone through) ,then they will appreciate more what you did for them. Best to you.

[jft310]

Sageo - yes part is IOC. It's always been about the asset and the asset becomes plural and grows in size and in ways that scream monetize me .
No Interoil investor can argue getting more money from Total is a bad thing . That's the right thing to do. But the timeline is down right frustrating . Having more money to build the plant and drill further prospects is wonderful but the when is tough . A dilutive secondary offering would really upset persons who have waited this long . So getting more money is good but geez Dec 2013 was a while ago .

[2126]

In the MD&A, it is noted that there were 3Q15 expenditures for site prep for a number of future wells: Raptor 1 Sidetrack; Triceratops 4; and Antelope South 1 (pps. 19-20).

While I realize that Dr. Hesssion also noted that IOC will focus on E/A appraisal and completion in 2016, it is interesting to note that these 3 wells have progressed to site prep work, indicating that the locations are selected and are simply awaiting the cash to drill.

As also noted in the Conference Call Presentation (p. 7), IOC can fully fund its share of the 30% non-financed plant construction costs with a certification payment of $1.3 Billion, at the GLJ low estimate of 7.5 tcfe. If the appraisal comes in anywhere above that (which seems increasingly likely), IOC will have the funds (and at least some of the rigs) necessary to jump right back into these 3 sites and resume its exploration campaign. This would also seem to be another reason why IOC would like to increase the tcfe total for this upcoming certification payment (by drilling A7) rather than wait for the later recertification option.

[Martinistocks]

Amen JFT