OEL 4.00% 1.3¢ otto energy limited

sc55

  1. 18 Posts.
    Does anyone have a view as to whether sc55 will be drilled by 5th August? It's almost April and I can't see that it is posssible, there has been talk of the cyclone season impacting the timing of the drill, I believe it is from June - Nov.but only in the northern Phillipines, not down south where they don't get cyclones.
    I think it has more to do with BHP's overall petroleum strategy for South east asia which presumably they are still trying to work out.BHP is operator and 75% JV with PNOC in SC59 West Balabac directly ajoining the southern end of sc55, the largest 3d seismic ever done in the Phillipines was done in sc59 and presumably is still being interpreted, the Phillipines DOE website states that sc55 exploration contract terminates on 5th August 2014 and sc59 on 13th Jan. 2015 just 5 months apart so I guess they will be on similar work phases, sc55 is in work phase 4 I think with one well to be drilled by 5th Aug.and another within 12months if sc59 is in a similar position it would make sense to drill both with the same rig? that's only my opinion I have no definate info at all.
    Also a little further south off the coast of Borneo(Malaysia) BHP has 60% (Petronas 40%)and operatorship of blocks Q and N and further south again block J which is involved in a border dispute between Malaysia and Brunei, these are also deepwater blocks and BHP recently discovered oil nearby in a JV with Total in 2 blocks.
    So BHP has interests covering 7 blocks/SC steretching from mid Palawan to Brunei!Which will they drill first? Hopefully sc55 but only BHP can answer that.
 
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