Ann: Balqis-1 Drilling Update , page-27

Shakin,

"On a. Serious note Strat , question for you :) what your best estimate of an announcement re: oil or no oil ?

100% we will get an announcement :)

We have intersected an oil column/s at Balqis - 26%

We have intersected an oil column at Boni - 7%

Seriously Shakin, the first thing that's going to know if there's oil down there is the drill bit.
The first person to suspect there is oil down there will be the Mud Logger.


@Talal,

Nov 2012 to Nov 2014 = 2 years.
Nov 2012 to Feb 2014 = 16 mths.

Did you note that the preso preface was signed by Phil Byrne?

The PSC system in Indonesia is complicated because it works on a sliding scale. The bar chart in the preso is an average representation of contractor take.
Was it misrepresented by NDO mgmt (prior to entering Indo PSC's) to show how good the Pines fiscal regime is??? You decide.

I know you can still read the HC posts during your holiday, so my suggestion to you is to use this time wisely and contact Phil via phone/email, and get it straight from the horses mouth.
You can argue with him if you don't like what he says in this regard.

Alternatively, the internet is full of information in regard to the O&G fiscal regimes of all oil producing countries around the world.
Eg,
EY - 2013 global oil and gas tax guide
Deloitte - Oil and Gas Taxation in Indonesia 2013

@Niu,
Eloquent as always.