AS for Levi, its a huge disc by Noble offshore Israel with the resource revised to 18.9 Tcf after the last well hit 454' netpay (240' was cored). It's a sub salt discovery (TD on 3 out of 4 wells was between 16992-21400') in deeper waters (5000ft+). Net pay thkness was 220ft, 290' & the last well had 454ft. Noble got US$802mil for its 9.66% when the resource was 16 tcf.
Compared to that, ENI-NEN-Kris r dealing with a relatively shallower resource at Cua Lo (sub 2900m).
I hope Cua Lo discvry makes the Top-10 global finds for 2013. So fingers crossed on the flowrates & the number crunch that happens thereafter.
CL is a Wildcat identified frm vintage 2D seismics & fast-tracked after this year's 3D seis shoot by ENI.
There r no 'offset wells' in Block 105 to tie in the zones etc so it has served a huge purpose for future drilling in this block.
Will b interesting to see whenever Exxon wish to announce their resource size to the South.
Noticed Santos have sanctioned a second project at Dua over there, after the success at Chim Sao. This will give us an idea of the recent Capex costs etc. They also hold Block 123 south of 120.
NEN Price at posting:
43.0¢ Sentiment: Hold Disclosure: Held
