td or no td !!, page-2

Here's a comparitive graphic between WPL's Torosa & Inpex's Ichthys fields.

Note, the figure doesn't show the Brecknock & Calliance wells which r part of the Torosa reserves. These 2 discoveries have multiple reservoirs not 1 particular formation, here my rant about triple-play at Pos#2.

Ok here are the reserves:

SR: 14 tcf + 370 bbls = 2750 mmboe
Ichthys: 12.8 tcf + 527 mmboe = 2703 mmboe
As of now Poseidon: P50 estimate 7tcf = 1190 mmboe
For now there r some missing variables for Poseidon, which we all have been waiting for. Key amongst them being, the condensate:gas ratio. So overall that 1190 mmboe should increase. Even better if the P50 is 10 or 15 tcf.

KAR's 40% of that estimate with 177.123m shares on issue should catapult them to the major league of explorers.

Little wonder Conoco would want to fast-track this project given the huge demand out of Asia. I wonder if COP, are cheesed off after losing TEPCO to Chevron.

Back in 2006, COP did a $17b for 51mT LNG supply (yes 17bil!!) with TEPCO. Last week, CVX signed a $90b deal with TEPCO for 82 mT LNG for its Wheatstone field. As if that wasn't enough, TEPCO bought some more LNG frm Exxon-OilSearch's future PNGLNG project.

Shows u how LNG is a precious commodity & why KAR are extremely well placed, to make a motza in 2014, when this field is fast-tracked to production via a floating LNG facility.

So the cashed up buyers are out there, all KAR-COP need to do first up is to prove the reserves at Poseidon & then mayb do road-shows in China, Korea, Japan & India, to bank the big-bucks.

IMHO, it will happen & the race is on.