wisteria spudding soon, page-13

The writing was on the wall last week...

http://www.ogj.com/display_article/335508/7/ONART/none/ExplD/1/Coogee-falls-behind-schedule-with-Montara-in-Timor-Sea/

Rick Wilkinson
OGJ Correspondent

MELBOURNE, July 28 -- Coogee Resources Ltd., Perth, is about 4 months behind schedule with its Montara oil development project in the Timor Sea. The project is now expected to come on stream by yearend.

One reason behind the delay, the company reported, is a labor shortage in Singapore, where the project's floating production, storage, and offloading vessel is being converted at Jurong Shipyard.

However China's Chiwan Schenzen Engineering had delivered the wellhead platform jacket on time and budget, and Clough Thailand is currently loading out the topsides.

Phase 1 of the Montara development includes production from four wells: two on Skua field (previously produced by BHP Petroleum, but abandoned in 1997) and one well each in Swift and Swallow fields. Phase 2, to be completed in 2009, includes two wells at Montara field itself and one more at Swift.

In addition, Coogee has completed feasibility studies into the potential commercialization of the smaller gas fields surrounding Montara, Jabiru, and Challis, and expects preliminary front-end engineering and design work to begin into on methanol production option during the third quarter. FEED itself is planned for 2009.

The company also is considering CNG and LNG options for these fields with potential partners.