Looking closely for ppp to do well in areas with good results, although its never a given in the oil business. Two targets I believe. Wonder if they have the same structure as tui.
As for Kan TanIV 21st january release from AWE/Origin:
Quote:"Origin Energy, on behalf of the T/18P Joint Venture, advises that as at 06:00 hours EDT on Thursday 21 January 2010 the current operation at Rockhopper 1/ST 1 is drilling 8 hole at a depth of 2,106m. So far 136m of the sidetrack has been drilled. Repairs to the cranes on the Kan Tan IV drilling rig were completed at 17:30 on 19 January 2010 at which time operations on the Rockhopper 1/ST 1 well commenced. The side track is designed to appraise the oil and gas zones discovered in the Rockhopper 1 well and is being drilled to intersect the main reservoir sections approximately 1.3km south and down dip from their penetration in Rockhopper 1. This will allow the volume of oil and gas discovered in the Rockhopper structure to be fully evaluated. It is anticipated that from today the sidetrack will take approximately 1 week to reach the primary reservoir section and a further 2 weeks to complete data acquisition and plugging and abandoning operations. As planned, the sidetrack and the original Rockhopper 1 well will be plugged and abandoned."
3 weeks approx from 21st january to end of drilling 2-3 weeks to shift and set up. About a month+1/2 Hoki then tui hopefully closer to april.
Thanks for the leg up sentina daveo
PPP Price at posting:
35.0¢ Sentiment: Hold Disclosure: Held