new projects, page-15

My major point is that Stitch seems the only Santos well so far scheduled. Until they tell us when the others are going ahead the price is reliant on ONE well. The industry average is closer to 1 in 20 than 1 in 10 as Woodside is now re-establishing in Mauritania .I agree ICN have excellent leases .That's why I bought them. They have many possible jewels but like a dog burying a bone they need to do some digging at some later time. As a bushie I have seen few dogs who ever retrieve their bones. I am beginning to think ICN will never be in the hunt at Bayou Choctaw.They might be better to sell and leave the area which I think has good potential at depth. Unfortunately ICN cannot seem to locate a partner that can cope with the high pressure conditions.Wrong choice of partners rather than wrong choice of rigs seems to be the problem. Surely farm-ins should lapse if nothing is done within a well publicised time period. Too many companies trundle out the lack of suitable rigs excuse .The WHEN question should be resoved at the time of farm-in. And please ,I am aware of and accept normal delays in the industry. There are always companies that can manage to get wells under way and unfortunately there are those who seem better at talking about them!. J.K. of VPE seems one of the best at organising a well or two with limited resources and I am aware of his long term nick-name.