Seems obvious to me too Klaas, we will have 2 holes drilled by...

Seems obvious to me too Klaas, we will have 2 holes drilled by sept 2013.


To be done by
Third
Quarter
Procedures to secure a P
roduction
Licence
and relevant related agreements
are
currently being
pursued
at a
quick
d
eliberate pace. The Preliminary Field Development Plan along with the
Environmental Management Plan and related compliance plans are nearing completion and will be
filed with the relevant authorities
in May 2013
. The process requires the approval of the
Central Land
Council, the Northern Territory Department of Mines and Energy,
the
Traditional Owners and land
access agreements with the current owners.
Central
is finalis
ing the Project Schedule and Budget. Since remote operations benefit greatly from
eco
nomies of scale (i.e. move out one rig and drill two wells to reduce mobilisation costs per well), the
Surprise development is being planned as a two well project
with optional additional wells
. The first
well will test the east
ern side of the Surprise fa
ult targeting a
5.9 million barrels 2C Resource. The
second is an exploration well to test the original objective on the west side of the fault that was not
successfully reached while drilling Surprise. After testing exploration targets in the Bitter Spr
ings and
Horn Valley Silt (Shale) the well will be used to either produce from the Stairway
oil reservoir
or as an
injector for pressure maintenance in the discovery well.
Dynamic modelling to optimize completions will be undertaken during this time frame
to assure the
wells perform as efficiently as possible.
Planning and long lead procurement for the drilling of th
e wells is currently underway.
Rigs are
currently being sourced for the Surprise de
velopment/exploration project.
Casing and tubulars and
re
lated well equipment
are
being sourced, as are vendors for various services like logging, cementing
and facilities construction.