an aha moment

Have been having a poke around a few sites in the hope of finding something and I think I might have had one of those "aha" moments.

Maybe it is no big deal.

But in the absence of any comments from the company itself any slight crumb of information assumes a importance out of all proportion to its significance I guess.

First I was having a poke around the Premier oil site. They are about as secretive about their operations as PPP itself. However I did find a little comment (not sure how recent it is - maybe months old ?) that a second well was planned to be spudded in Block 07/03 by mid November and there was mention of the semi submersible Hakuryu V rig would be used. (I think it did the first well if I remember correctly)

So I did a bit more investigating along that path and came across a recent article in Rigzone. Dated Nov 6th = "Analysis: S E Asia Rig Market Challenged, But Construction Continues"

When I glance down through it I came across this little gem !

"Earlier this week, Japan Drilling's HAKUYU-5 semisubmersible came off contract. BP had been using the rig on block 05.2 off Vietnam since Oct. 6, 2009, at $275,000/day. The rig will work for Premier until Dec. 21, 2009, at the same rate"

So if we put those two bits of information together we ought to have HAKUYU-5 spudding into another prospect in Block 07/03 by about the end of this week or early next week.

Now I wonder if I am right ?????

Of course it is all academic really because we do not know whether PPP will have any share in Block 07/03 by the time PetroVietnam finally indicates whether they want all the 15% in contention.