There is a store of potentially good news on the way-and its got nothing to do with PNG gas.
1.The Appraisal well at Beibu could/should reach total depth as early as Tuesday.It should produce a good result,based on the 2 precursor Exploration wells drilled in 11/14. It will have likely taken only 10 or 11 days to get down to 2950m-an indicator of short drilling times for the future at this location or nearby locations.
2. In the (likely) event an oil column is confirmed (again a function of the results of the 2 E wells above) the intention is to start a horizontal sidetrack well that will have a "producer" label on it-this well is expected to take only 10 days more.
3.Page 32 of the presentation that accompanied the CEOs address at the AGM is headed "Exploration Potential on Maari/Manaia Migration path PEP 51313".
Do yourself a favour-go have a look at that page!
PEP 51313 is immediately to the South,and shares a boundary with,PMP 38160.the Maari field.
Its unthinkable that a rig wont be sent over the boundary a kilometre or 2 to drill at the main prospect in PEP 51313,Matariki.
PEP doesnt,IMO,just get a mention on P32 because its one of HZNs oil prospects-HZN says there is a "(likely)migration path" from Maari into PEP 51313,and who are we to argue (unless you know better).
You will have to make up your own mind if there is any current significance in where the PEP page (P32) fits in with other HZN oil prospects elsewhere.
Note : HZN owns 10% of the Maari field-it owns 21% of of PEP 51313.
Note: Strachan states that,in their view ,a successful outcome to drilling at Matariki could be worth 25cps to the HZN SP
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