re: help--poor perform;vague$$IF Petsec did this then you may be right (they didn't)
however PSA drilling 2 MORE producing wells did not come without a
price Petsec have done for this coming winter quarter which should mean or
give PSA a factor of 15800 (thousand cubic feet) times the winter price for gas
(last year this averaged US$6)"Production for the September quarter was down on previous quarters, largely due to disruptions during drilling of the West Cameron 343 #A-14, #A-14ST and West Cameron 352 #A-19 wells and work over operations. It was announced on 22 October that all of the five West Cameron wells were in production at a rate of approximately 28 mmcfd (15.8 mmcfd net to the company)."
On top of this money will be further spent this December
Vermilion 246, 257, 258
Petsec: 100% Working Interest
Petsec proposes to drill two wells in early December on the Vermilion 258 lease to test 36 bcf of unrisked mapped potential gas (net to Petsec 30
bcf). This mapped potential includes an estimated 8 bcf of gas discovered, but not developed, in 1988.Beibu Gulf
Block 22/12,
Petsec: 25% Working Interest
Operator: Roc Oil Limited
A five well drilling programme is scheduled to commence in late December to test, in the Company’s estimation, in excess of 40 million barrels of unrisked mapped potential of recoverable oil (Petsec 10 mbbls). The joint venture has approved two wells and three further wells contingent on the outcome of the first two.
