ipil ipil 1 daily drilling report sc46, page-13

Another update out now..JAPEX have drilled a further 144 m since yesterday (thats good progress-compared to more recent drilling) ...just 500 m or so to before final well
depth.

JAPEX are providing no update on the result of their flow test from earlier in the week. Probably no wonder, because there is Court action and a whole range of environment protests against the project....even if they have had success.

Stakes are high here for GGX.....their leases are 700 m away from the current drill site....most are onshore, and no such marine concerns would face further exploration by the company.

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Look at the size and scope of work that Japex is involved with.....

"Japan Petroleum Exploration Co. Ltd. to Invest Up to $900 Million in Indonesia's Oil Gas Field

11/21/2007

Japan Petroleum Exploration Co. Ltd. planned to rise investment up to $900 million in Indonesia's Kangean oil and gas field in East Java province by 2012. Currently the company's investment in the field had reached $400 million dollars. The field was targeted to begin production in 2010."

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