oh and also

Missed this item on my first glance through that Rigzone article that I mentioned earlier in my other post.
The article = "Analysis : SE Asia Rig Market Challenged, But Construction Continues"

Towards the end of the article is this little comment which I think could have relevance for PPP.....

"Also due to come on contract is the Songa Mercur semisubmersible. The rig will work for Oilex off East Timor starting November 26. The $280,000/day contract terminates on Jan. 14, 2010"

Hmmmmmm will it drill two wells in that time ?

Guess so..... as it ties in with what is said in the Oilex September Quarterly report :
"JPDA 06-103 (Timor Sea)
• Key farm-out agreement concluded with Japan Energy resulting in Oilex being carried for its share of two initial wells (up to an agreed cap) and being reimbursed for some past costs
• “Songa Mercur” drilling rig secured to conduct a 2-well drilling program following release from Woodside's
current drilling program
• Drilling expected to start in late November 2009 targeting combined mean prospective oil resources of 285
million barrels in two prospects (100% basis