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pj

2,090 Posts.

26/02/16

19:54

Post #: 17129864
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Originally posted by pj ↑

Re: "This was the whole purpose of my original post, the JV does not have to Officially declare SNE commercial until they complete their study of the area which could 5-6 SNE wells, 2-3 BH wells, 4-5 SNE look a likes wells and FAN wells (who knows how many there). CNE may argue that until they have all this information they can not decide on project design which then impacts on the DOC. All this drilling may take years so 2019 is not out of the question. Does any of this delay first oil... no not at all"

Hi Zip

Another "sideline" question that arises out of that is the timing of Petronas election (or not) to increase their interest to 18% overall. This was discussed way, way back on HC and from memory was thought to be linked to the DOC???

Point being that FAR have to contribute at 16.7% WI until Petronas make that election, otherwise at 13.7% if they opt in and 15% if they opt out (if I have that right - someone please correct me if I'm wrong). For all those potential extra wells you delineate that could make quite a difference if FAR "stay the course".

pj

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Just managed to dig up a link to those discussions:

14613068

pj

Last edited by pj: 26/02/16

FAR Price at posting: 8.7¢ Sentiment: None Disclosure: Held
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