is pelican a secret?, page-2

Pelican holds about 0.8Tcf from memory (so far), whereas the other fields hold significantly more in gas terms (plus the oil which will be the main cash earner). Part of the gas will be used for gas injection to aid oil production. There are also a large number of gas projects around the world looking for markets with limited windows for getting them into production.

The positive about Pelican and probably the reason Woodside took up its interest is that it also opens up the Cretaceous for discoveries. The areas to the south are in the Miocene. The cost of entry is also low at the present time, but may not be if oil discoveries are made. I suspect they will be looking for oil legs if additional holes are drilled at Pelican. There are also synergies if you have major oil production in an area.

G