re: shaw pumping neo/ds No. They will be done seperately . JH2 is in a seperate block (block 13). It needs to spud before end Feb 05 as per the agreement with the leasor I understand. JH1 testing is now operated by OPL , and some (more) delays have occured as per OPL's last ann. However I expect it will happen maybe a week or so after JH2 spuds...the back to back shallow drills should be relatively quick though imo .. say 3000~6000ft , 4 to 8 days per drill , then logging and relocation , say, 4 days , so about 6~8 weeks in total .. and all the while JH1 testing will be ongoing.
Its quite possible that gas sales may commence as early as the end of May 05 , but more realistically end June imo.
The appraisal gas drills will allow reserve calculations to be made , if / when these are established , and assuming they are positive , debt funding can be raised for further development and elephant hunting in the 'deeps'.
I reckon the gas reserve is worth at least 10c/share to NEO based on the calcs Ive done , SlickRick has higher numbers , and he may be proved correct.
So plenty going on , which the market is starting to reflect :)
My opinion only , of course !
SALTY
NEO
nuenco nl
