kar-ry on....dreaming !!, page-9

Here are some stats on Hess Oil.

As Bob pointed out, Hess have increased its 1P-Reserves from 1243 mmboe in 2006 to 1330 mmboe in '07 & in Dec 08 to 1432 mmboe. That's 189 mmboe in 24 months!!

Here's the breakdown for this 1432 mmboe, on a regional basis,
USA: 273, Africa: 336, Europe: 438, Asia & Others: 385 mmboe

Australia is categorised under Asia. For now, Hess have 2 blocks in Oz & is aggressively pursuing a Stage-2 drilling program of 12 wells (besides the 4 it drilled last year).

1) 100% in WA-390P with 780000 acres (9 wells planned)
2) 50% in WA-404P with 680000 acres (3 wells 2b drilled)

Currently drilling Toporoa-A in WA-390P with the semi-sub Jack Bates.

Anyway, my point is, after its 16 well program culminates, Hess will upgrade its reserves from 1432 mmboe to something else depending on how the drilling progresses by Dec '09.
For now, they had between 28-45m of payzone in 3 out of 4 wells drilled last year. KAR-COP has 228m+ on Pos#1, remember, feels so long ago, now!!

Hess, also has a 40% interest in the BM-S-22 discovery in Brazil (shown on KAR's presentations) whereas Conoco don't hold any turf there yet.

Another comparison would b comparing with Woodside's assets (1P-1330 mmboe, 2P-1700 mmboe), which are predominantly the NW Shelf in Oz, Gulf of Mexico, Brazil & Africa (Libya, Algeria & Sierra Leone).

Lastly, one can't ignore good old cashed-up cow, BHP Petroleum with its 1P-1350 mmboe & 2P-2150 mmboe!!

WPL & BHP represent Oz in the NW-Shelf consortium, so together, these 2 are a lethal combination, just like Warnie & Pigeon, bowling in tandem or the Williams sister in Tennis!!

For now, we wait for TOL to commence drilling.