Premier did not want to progress the development they simply didn't have the resources with rockhopper on the go. Lets hope with talisman on board they mean business in short term.
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Premier did not want to progress the development they simply didn't have the resources with rockhopper on the go. Lets hope with talisman on board they mean business in short term.
Well spotted Boysy locked and loaded cheers....
Thanks boysy-I like the way talisman is cutting costs.
Dont you mean page 13?
ATM we are only looking at 5% 0r 400 barrels a day or 10000 us dollars a day
No water and lots upside in Vietnam
Whilst in nz we have a bigger share of tui and development well for pateke 3 being drilled followed by exploration well with good prospects at oi.
NZO should also gain from this activity
Thanks boysy-I like the way talisman is cutting costs.
Dont you mean page 13?
ATM we are only looking at 5% 0r 400 barrels a day or 10000 us dollars a day net profit
No water and lots upside in Vietnam.?any idea of the total recoverable amount
Whilst in nz we have a bigger share of tui and development well for pateke 3 being drilled followed by exploration well with good prospects at oi.
NZO should also gain from this activity
I actually sold out of ppp back in august but have indirect hold via nzo
the timelines from ppp wore me out and have put the money into a nice new car instead
even if 07/03 in commercial , give it 3 months and sp may be back to where it is now
m
I don't really like the terms of the Oi prospect for PPP.
Have they actually mentioned what the buyback premium for Oi will be if it's successful?
Generally, in oil and gas, a successful exploration well should pay back multiple times for the other failures (1 in 10?).
Now, I don't see PPP getting reimbursed 10 times for the risk they're taking....
A lot of folk seam have have confidence in OI.
I,m Not sure if it's just a ramp or the fairway looks too good
not to bet on.
BB
[QUOTE=Billy Boy;462202]A lot of folk seam have have confidence in OI.
I,m Not sure if it's just a ramp or the fairway looks too good
not to bet on.
BB-this is an old announcement but one of several reasons why I am optimistic about oi
AWE Announces Additinal Wells In Tui Area Development
Type: Operator Update
Feb. 2013 - AWE Limited, on behalf of the Tui Area Development partners, announced the joint venture approval of two wells to be drilled in the second half of 2013 in permit PMP 38158. Pateke-4H will be an infill development well targeting a mapped northern extension of the Pateke field. The well will be drilled to the proposed measured depth of 22,637 feet with an 8,202-foot horizontal section. It is possible that gross recovery could be increased by 2.3 million barrels. The Oi exploration well will target the Oi prospect which is structurally similar to the Tui, Amokura and Pateke fields. The reservoir is thought to hold prospective resources in the range of 11 million barrels. Firgstad Offshore's Kan Tan IV (mid-water semisub) has been contracted to drill both wells.
It is anticipated that pateke extension development well will produce an additional 1/2 million barrels or so to ppp now that they have increased their share of tui fields.
PPP have 11 au cents in cash per share and with Vietnam and pateke extra production the future should hold a lot of profit and dividends should have imputation credits despite it being an au share.
A success at OI by an off the cuff calculation could be worth a dollar or more a share after awe has bought back part of ppp 50% holding.
Fish you might be a bit exuberant there I remember reading buy back premium of circa 7-8x cost ie well cost $30m buy back premium $220-$240m. 85% of say $200m is $170m or 30 cents a share on a success