Who's Drilling Report.800 pound gorilla.From Yahoo.Interesting Perspective. | IOC Message Board Posts

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Msg  5936 of 13357  at  9/16/2010 8:59:13 AM  by

jft310


Who's Drilling Report.800 pound gorilla.From Yahoo.Interesting Perspective.

This is the "Who's Drilling" report from 800 lb. Gorilla Thread.
800 lb. Gorillas don't go wobbly.


Read this report.
This is what IOC/Petromin/Liquid Niugini is offering for sale/equity stakes.
Understand how large Elk/Ant is. It is unprecedented. It dwarfs all other finds within the range of this report.
Understand it is a first for Japan/Korea/China a chance to own or own a large % of the whole value chain of this quantity/quality of resource.
It is on-shore, near-shore, in an undeveloped friendly country and near their import terminals.
At 16T's (Henry's conservative #), and 3 FLNGS @ 3 mtpy, and 8 mtpy in NapaNapa, that is at least 17mtpy for 30 yrs.
1 mm tonne is worth conservatively $500,000,000

17mtpa X $500,000,000 X 30yr. = $255,000,000,000 LNG Production. And these are all conservative numbers.

Throw in more exploration success, more trains and this # will skyrocket.
Then the condensates. 60,000,000 BOE/day. What is that worth over 30 yrs+????????

***Author's Speculation Alert Following***
I don't want to fool ignorant widows into buying into IOC. Most financial guys won't touch IOC let alone place vulnerable nest-eggs in it. Until, that is, the forthcoming LNG JV deals are announced and with FLNG deals and CSP deals all go to FID. Then granny gets in.

Throw in flowable Oil. Even Oil Search found flowable Oil. Phil will find it and find it in gigantic quantities. The O&G industry has known for 60 yrs+ that PNG is full of O&G.
This could realistically turn into a 1 Trillion $ project over the next 30 years.

$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ $$$$$$$$$$$$$$$


http://www.pex.com.au/samples/wd_sample1...

Slide #1: Check out 'This Weeks Highlights'

Slides #4 - #7. Compare IOC's Progress and Significant Results vs. the other current wells in Aus/PNG/Oceania

Slide # 27 Rig moves: Mentions Rig-1 to Ant #3, and Rig-2 shipped to Napanapa June/July. RJ now states Rig-2 likely to mobilize to Bwata Field.

Slide #48 Onshore Prospects: Compare them to Elk/Ant #s. They are drilling for BTCFs, 1.1 TCFs. They pale in comparison.


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