blackwood2

It great news that the rig is slowly moving to the Blackwood2 location .....perhaps start to drill in just over a week....?

I was just looking at the meo site which shows Blackwood as bigger than Heron and very close to the size of Evan Shoal just to the north east...
From the meo web site....

Check out how much money has been/will be spent around Blackwood area....
Eni spent $350 million plus heron sth $120million....plus say$100million on ES2.. Last week....plus Blcakwood say $80million..soon...
Total $650million...

SK E&S is committed to at least $520million...

This suggests that the Blackwood areas have over $1billion dollars being spent in the short term....

Meo is punching way above its weight in this area for a share price of 6.9cents?
IMO


Evans Shoal
The Evans Shoal gas field (NT/P48) is directly adjacent to NT/P68 containing the Heron and Blackwood discoveries. Eni purchased a 32.5% stake in the permit in October 2011 for up to $350 million. The joint venture plans to appraise the Evans Shoal discovery which is slated to contain circa 6.6TCF of high CO2 (~28%) gas.
Barossa/Caldita
ConocoPhillips and their joint venturers are in the process of appraising the Barossa and Caldita gas fields which are jointly slated to contain circa 3.5 TCF of high CO2 (>13%) gas. In June 2012 SK E&S agreed to fund up to US$520 million in carry obligations and contingent milestone payments to secure up to 49.5% participating interest in the fields