Eni would certainly be in the mix for the 454-P farmin and there...

Eni would certainly be in the mix for the 454-P farmin and there are valid reasons on this thread.

The fact MEO have given the one month extension re the Blackwood decision would be a combination of the long Heron drill, holiday festivities and the current 454 farmin negotiations.

MEO still have 100% Blackwood but will be reduced to 50% after one well and 25% after a FID decision so Eni will be getting 75% anyway so will MEO give away 454-P to ensure a Blackwood well only to be left 25% Blackwood in the end? I hope not.

MEO made a point that Blackwood was not in the original P68 farmin offer but was finally included in the mix so it will need to be a compelling additional deal for MEO to give up 454-P IMO. Blackwood does have estimated reserves for the first Methanol plant.

I wonder about the broker's info, ADL. They phoned me post Artemis with similar bullish statements which were obviously not based on fact but just guesswork. I suppose they have to try and make a sale but when I tackled him over various suspect points he withdrew and I never heard from him again.

According to the:

* NT/P48 EP Summary *

the drilling of Evans Shoal North 1 is scheduled to commence March-May 2013 so the broker was a bit off target on that point too. Eni have until the end of 2013 to drill the well.

Regarding the previous Evans Shoal wells the following links might help:

* Evans Shoal Gas Discovery - NT/P48 - 1998-04-20 *

* Substantial Completion by Shell of Farmin to NT/P47 & NT/P48 - 1998-08-14 *

and

* Bonaparte Basin Exploration Overview *

which has a link to the Santos release re the ES1 well. This was like HS1 and had encounters at both the Plover and Elang formations but because of poor hole conditions no HCs could be recovered.

For those who have not seen it this SEAAOC document:

* Pressure builds on Evans Shoal partners *

shows the dynamics of a stranded gas solution in the region.

Another point I find interesting is the Ensco 109 schedule.

* Fleet Status Reports *

The 16 Nov 2012 report had the 109 @ '$5,000 per day for mobilization amortized mid Aug. 12 to Mar. 13. Next expect to work to Dec. 13, high 180s'

Now the 17 Dec report has changed 'Plus approx. $5,000 per day for mobilization amortized mid Aug. 12 to Mar. 13. Next expect to work to Jun. 13, mid 190s'

The schedule changes from month to month and early on in the piece there was an option well added on. I always thought this could be for Blackwood 2. ESN1 is scheduled March-May which leaves just one month. Whether Blackwood is to be included in the first schedule to Mar 13, or the potential significance of the Dec 2013 change, is food for thought. No doubt we will know in February.

I suppose Eni did only say publicly that they 'intended' to drill Blackwood. MEO picked up on this at the AGM (as did many of us on HC) but they still haven't made the commitment.

I think there are a few mind games going on.

#:>))

PS - no drinks for me at Christmas. That pleasure for me is long gone. Medication and alcohol don't mix, but I still had fun!:)

My previous post was a point of reference for present and future unreasonable detractors.