PPP pan pacific petroleum nl

Just trying to come up to speed with what's happening (or not...

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    Just trying to come up to speed with what's happening (or not with Maitland gas.

    From the latest quarterly.......

    Maitland WA-33R (PPP interest 10%)
    The joint venture Operator, Apache, has completed an assessment of the Maitland project after incorporation of the results from the 2007 drilling campaign. While the technical challenges of drilling and producing in the Maitland field are in the process of being resolved, the Maitland-2 core data and Maitland-3H test results have resulted in some reserves uncertainty. The Operator is now working on options to reduce this uncertainty to a level that would allow a development to proceed. These options include the possibility of further appraisal drilling and flow testing prior to a development decision being taken.

    The 'reserves uncertainty' issue doesn't sound too encouraging.

    Does anyone have any views on Maitland, positive or negative?
 
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