May have been affected by hike in the UK levy on North Sea oil production?
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Lets keep it in mind that as of todays release the results are not out yet. Must have something to take this long but it must also be margional or else the facts would have been released.Think if it is NO we will be better off with the 10% taken off us and the monies returned on that piece.
Digger, not sure what time you posted - my screen shows 0546.
Anyway, when one considers last Friday they were preparing to conduct a drill stem test then surely they were aware how long it would take. after todays announcement they are still preparing do do the test - what are they waiting for? a superrtankler to offload all the oil would be nice but I doubt it.
This must be very big to warrant the big bucks being spent.
we just have to wait.
m
in 2009 it took 3 weeks from logging to then conduct the test and release the results
3 weeks is up today
M
Yes it could be an important day for PPP. If the rig has being sitting there for 3 weeks during the testing there must be something interesting down there! Also a small flurry of buying/selling on the ASX this morning?
still we wait for news.
found this promo by premier from 2009 - the permit is very good and underexplored because of no agreement between indonesia nad vietnam for at least 2 decades
http://www.google.com.au/url?sa=t&so...gWDrf6PdfVE0FQ
M
Digger I see from Premier report a few weeks ago that the Vietmese government approved the appraisal program and this is the first hole in the appraisal program - "first hole" being the key term. Also saw elsewhere the drilling depth map and it appears the appraisal is only about 2km from the discovery hole, thus its not a very big stepout.
I would not be surprised if the appraisal program is excluded from the drilling commitment program - being 2 more exploration holes in 2011/2012 and 1 hole in 2013 - this would tie in with the 3 unpriced options Premier have for the Ocean General.
Frankly I suspect the 2 exploration holes will happen straight after Premier finish the 2 holes in their Tuna permit in Indonesia - thus in 5 - 6 months time they are drilling again in permit 07/03.
Would be nice if Diamond Offshore updated their rig status report - latest March 17 and/or Rigzone had an update for the Ocean General - one has to subsribe to that though.
M
M
Vietnam drilling update.
http://www.nzx.com/markets/NZSX/PPP/...-11-April-2011
Boop boop de do
Marilyn
Vietnam Block 07/03 Drilling Update 11 April 2011
Stock Exchange Announcement 11 April 2011
Vietnam Block 07/03 Drilling Update
Premier Oil Vietnam South B.V. (“Premier”), the operator of the Block 07/03 Production Sharing Contract, has advised that the CRD-2X appraisal well has been drilled to a TD of 3785m MDRT, and two drill stem tests of the hydrocarbon bearing sands in the Oligocene section have been conducted. The first zone tested flowed gas and condensate at rates of 9.7 MMSCFD and 870 BOPD respectively through a 40/64” choke. The second zone tested flowed gas and condensate at rates of 17 MMSCFD and 1730 BOPD respectively through a 56/64” choke.
CRD-2X has been planned to evaluate the oil and gas discovered in multiple stacked Miocene and Oligocene reservoir sands by CRD-1X in 2009 with the aim of reducing uncertainty in whether the CRD structure contains sufficient volumes to support a potential development. CRD-1X tested two zones in the Miocene sands which flowed oil at a combined rate of 3,265.4 BOPD plus 8.1 MMSCFD, through a 48/64” choke, with no water. However, it was not possible to flow test the Oligocene sands at that time.
The positive results from the testing of the Oligocene section in CRD-2X are very encouraging. The well will now be sidetracked to further evaluate the distribution of hydrocarbons in the Miocene sands. An update will be provided when the results of the sidetrack have been fully integrated with the other well results.