PR: Ant-6 intersects top of reservoir

[Li'loilady]

Antelope-6 intersects top reservoir within expectations.

InterOil Corporation (NYSE: IOC; POMSoX: IOC) has been advised by Total E&P PNG Limited (“Total”), operator of Petroleum Retention License 15 (“PRL15”) in the Gulf Province of Papua New Guinea, that the Antelope-6 appraisal well encountered top reservoir within expectations at approximately 2,076 meters (6,811 feet) true vertical depth sub-sea (“TVDSS”).

Preparations are underway to run the 9 5/8” liner before drilling ahead into the reservoir section.

The Antelope-6 appraisal well is located 2km east-south-east of the Antelope-3 well and is designed to provide structural control and reservoir definition on the eastern flank of the Antelope field. Antelope-6 spudded on December 23, 2015 and has a proposed total depth of approximately 2,464 meters (8,084 feet) TVDSS.

[Li'loilady]

It would appear that Total is not "slow drilling" in order to delay the inevitable cert. pymt.

There's a good pic of a well groomed (a la Total) Ant-6 site on IOC's homepage.

[davidhmtk]

It would appear that Total is not "slow drilling" in order to delay the inevitable cert. pymt.

There's a good pic of a well groomed (a la Total) Ant-6 site on IOC's homepage.

Total's cost of capital is so low these days that many of us are over-estimating the difference to Total of paying for the larger amount of gas in the first certification or after the second one (5 years later, my guess).  Much more important to them (and their bankers) is certainty of the resource and pre-sale pricing, which leads to A7, slowly, so that the gas market recovers.

[AU74]

Suprised people on here aren't happier at the news that this well is going so smoothly, especially given the endless boatloads of crap tossed around every time drilling isn't flawless.

[wapitidropiti]

Suprised people on here aren't happier at the news that this well is going so smoothly, especially given the endless boatloads of crap tossed around every time drilling isn't flawless.

I'm tickled pink about the well progress. But the PPS is under $30. We wait.

[sageo]

Suprised people on here aren't happier at the news that this well is going so smoothly, especially given the endless boatloads of crap tossed around every time drilling isn't flawless.

AU74 - Perhaps this is why : when the top is reported about 225 to 250 ft lower than expected(or hoped for) and the mention (earlier) of the amount of footage expected below the gas/water contact,that doesn't leave us with as much of a production column as originally expected.....or again(hoped for). As Palm says (as always),"we wait".Once the liner is cemented in place and the bit starts turning again,we will know more after another 1200 ft or so. Good day to you.

[Tusker]

Greetings and Salutations Wappit.

I think I saw a large dolomite reservoir heading east. I did, I did.

Cheers from Tweety Eye.

[jft310]

Tusker has the right view . This was announced as a water well in the lagoon, in reality the formation extends further East . That's bullish !!

[Thylacine-2]

What evidence is there that dolomite extends further east?

[Kaliboo]

Suprised people on here aren't happier at the news that this well is going so smoothly, especially given the endless boatloads of crap tossed around every time drilling isn't flawless.

AU74 - Perhaps this is why : when the top is reported about 225 to 250 ft lower than expected(or hoped for) and the mention (earlier) of the amount of footage expected below the gas/water contact,that doesn't leave us with as much of a production column as originally expected.....or again(hoped for). As Palm says (as always),"we wait".Once the liner is cemented in place and the bit starts turning again,we will know more after another 1200 ft or so. Good day to you.

. Agree with others the news is bullish.  While more thickness is preferred it is average porosity X thickness that is what matters, i.e., bulk pore volume.  That translates to how much gas is in the rock.  I'd rather have more porosity as that means it is more likely to be better connected and flow ar higher rates.  Basically 1000 ft of rock with 5% porosity has the same pore volume  as 500 ft at 10%.  But the latter will likely flow at higher rates and may not require an expensive frac job. So let's see what they learn.   FWIW.

Kaliboo