OEL 0.00% 1.2¢ otto energy limited

Ann: Investor Presentation , page-32

  1. 6,349 Posts.
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    That article said BHPP made a business decision on their withdrawal from SC55.

    Someone else on these threads (back around the time it was ann that BHPP were pulling out..maybe prior to) said BHPP were doing the same thing in India and possibly elsewhere, ie, cutting back.

    What I'm not understanding in this is BHPP still retain a 75% WI and operator in SC59 right next door to SC55, or at least that's what PNOC-EC's website says.
    Service Contract No. 59 - West Balabac

    However, the OEL website still has all the previous garb around the BHPP farmin and BHPP still trying to source a rig.
    Service Contract 55, Offshore Palawan, Philippines

    The big difference between the two is that you can find plenty of media coverage on the BHPP SC55 withdrawal, but you can't find anything on SC59 like that.

    I'm pretty sure the DoE weren't all that impressed with BHPP when it came to what happened with SC55, so I'm really wondering about the situation in SC59.

    According to the PNOC website, BHPP and they are currently deciding through further sub-surface work "...whether to conduct additional 3D seismic or select a drilling target from the current inventory."

    Anybody got any thoughts on the implications here?
 
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