attention gamblers, page-12

Friday arvo drinks beckon, so quickly:

Arun (adjacent Seruway) LNG plant was one of the first LNG plants in the world when commissioned back in the day. Today, this LNG plant is the subject of a government back consortium to purchase the ageing plant back from XOM, and turn it into an LNG import terminal. (Indonesia has gone from being a key OPEC member to now being a net importer of O&G).

Arun (after $400m) being turned into an LNG import terminal just gives you an idea of the demand for energy in this area, and as a result dom-gas prices are rapidly approaching int parity prices.

Now, given the Seruway PSC is on the coast, MEO can rapidly tap into the dom gas market quickly and cheaply, hence why a low risk gas focused well is being drilled. Liquids are always easy to strip and flog with some relatively basic equipment.

From today:

"The Gurame discovery with six existing wells and a modern 3D transition zone seismic survey, was considered the lowest risk drill-ready candidate with the highest probability of a commercial development path."

As for the clown suggesting this well will not test for oil:

"The well will test an estimated (P50) 0.5 Tcf low CO2 gas resource with a potential 57 MMstb liquids within the Baong Sandstone and Belumai Formation primary targets."

Is 100% of 57 MILLION BARRELS of recoverable oil not a sufficiently large endeavour for you big shots?

have some guts you people

you either believe or you don't.

I'm pleased MEO were able to get the October drilling slot, which means spudding the well in ~6 weeks, similar timing to Thailand.