Drilling update. Dated 18/08/11 The Company is progressing its drilling programme for the year with ADS Rig 6 anticipated to become available in mid to late September. Final details of the drilling contract are expected to be completed and the contract executed in the next week to ten days.
Surprise Update. Dated 22/08/11 The Company is planning contingently to re-enter Surprise-ST1 mid to late September 2011 to accelerate a programme over the next 12-18 months focussed on re-entry and testing of Surprise-ST1 (10 MMbbls UOIIP-P50) for oil potential in both conventional and unconventional horizons, the drilling of Mt Kitty-1, a large condensate/helium/gas prospect (UGIIP 2 TCFG, 100 BCF helium-P50) and the drilling of Madigan-1, the first well on a giant structure in the Pedirka Basin thought to have UOIIP potential of over 4 billion barrels (P50) based on preliminary mapping of new seismic acquired in 2010.
SO What has happened to the Drilling contract?
CTP Price at posting:
24.0¢ Sentiment: None Disclosure: Held
