On reviewing the announcements from VPE I have noticed the following.
1/ Aerial inspection and the arrival of floodwaters at the Growler Oil Field indicate that the road from Growler to Moomba is not anticipated to re-open until June/July 2010 and the road from the Snatcher Oil field to Moomba till September 2010.. VPE 07/04/2010.
2/Victoria Petroleum N.L. (Vicpet) as operator for the Growler/Snatcher oil fields advises that recent aerial inspection of the floodwaters at the Growler and Snatcher oil fields indicate that the road from Growler to Moomba and Snatcher to Moomba is not anticipated to re-open until late September 2010.VPE 14/04/2010.
3/One of these rigs will be the Century#3 drilling rig stacked at the Growler Oil Field and upon the roads reopening will commence a continuous development and exploration drilling program of up to six wells based on the recently acquired 3D seismic in the Growler Oil Field and the area containing the surrounding Wirraway, Warhawk and Tigercat oil discoveries. VPE 14/04/2010.
Considering the Centry #3 rig is already at Growler, and the Growler to Moomba road has been indicated to open earlier than the Snather to Moomba, we may see the "suprise" of drilling starting earlier than September at Growler.
Of course the question has to be asked why did the presentation of 14/04/2010 contradict the earlier announcement, and refer to both roads being closed until September, when one of the roads is obviously further in to the Cooper Basin than the other.
There could be drilling sooner than expected or announced.
IMO DYOR
ITC Price at posting:
5.4¢ Sentiment: Hold Disclosure: Held
