longtom progress

Things are starting move for Longtom.....

Filed from Singapore
5/5/2008 1:11:36 PM GMT

MELBOURNE, AUSTRALIA: Nexus Energy Ltd. expects the Trident Australasia's new multipurpose pipelay diving and accommodation support barge, Aussie 1, to be ready for mobilisation to the Longtom gas field in fourth quarter of 2008.

Construction on Aussie 1 is about 90 per cent complete at Kim Heng's shipyard in Singapore. The pipelayer is expected to be launched in early May and would undergo sea trials prior to departing for Australia. The pipelayer is contracted to lay a 12-inch subsea pipeline to connect the Longtom gas field to the onshore Patricia/Baleen gas facility.

Nexus has also contracted Seadrill jackup West Triton to drill two development wells in June and July after the rig completed a two-well programme with 3-D Oil in the nearby Gippsland Basin permit, VIC/P57.

Nexus is still awaiting for a regulatory approval on the proposed upgrade of the onshore Patricia/Baleen gas plant. First gas is now scheduled in early next year, with production rate expected to ramp up to 11,000 BOE/d. Nexus has committed to deliver 332 Bcf of gas produced at Longtom to Santos at defined prices, with Santos holding an option to purchase an additional 95 Bcf of gas at market prices.

Regards
SharpE