the pig

Thought this would have been price sensitive and would have been announced much sooner.


"Petsec Energy today announced that its Main Pass 270 field has been shut in since 19
April 2008 due to a “pig” stuck in a production pipeline owned and operated by a third
party. A pig is an oval, football shaped object which is run through pipelines as part of
normal maintenance to clear pipelines of paraffin and other impurities that clog the flow
of oil and condensate.
The production pipeline affected is used by Petsec Energy and other producers to
transport condensate produced from various leases in this area. Without a pipeline to
transport the condensate produced at Main Pass 270, Petsec Energy is also not able to
flow the gas from the field. Daily production from the Main Pass 270 field net to Petsec
Energy was approximately 4,700 MCF and 120 barrels of oil prior to the pipeline being
blocked.
The operator of the pipeline has been working diligently to resolve the problem and it was
initially expected that the blockage would be removed fairly quickly thereby returning the
pipeline to service. Currently, the operator is injecting acid into the pipeline through hot
taps in an attempt to dissolve the stuck pig. Petsec Energy will advise when the field
returns to production.
Petsec owns a 25% working interest (20.83% net revenue interest) in the Main Pass 270 Field."