Heard the CFO in a recent presentation on the CVN threads say that Apus-1 failure was due to "migration out of trap"... or something very close. Does seem the prevailing view is the trap seal failed... agreeing with Noel. Worth a listen too Implies... Oil movement into the trap, most likely fine. PAVO-1 was more an indicator of the oil migration concept into TDO lease western side.
Yes, we are sitting tight waiting on 3 fronts
- Otway and Conoco announcements, time is ticking down to this piece of news, hoped we would have some initial maps from 3D by now.
- Otway North, farmout and hopefully some cash with most likely BPT announcement
- Bedout lease, 3D schedule. Possible a partner, or arrangement with CGG to pay. Tricky with lease extension till early next year. Geo Coral in Korea for 4 months, another boat?
Likely news on all 3 fronts will be within months of each other... Noel has already earned hi smoney by gettng Conoc into Otwa... worth double on any of the 3.
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