we are moving into the second week of july every day is getting closer to the drill not long to go now folks
RE: years of planning
years of planning
And $60m+ have been spent to get where we are today. Only a few weeks more before the big show gets going. The herd will be here soon!!
Hawkeye-1 deep water exploration well on block SC55 located Southwest Palawan basin. Petroleum Potential of West Palawan Basins - http://www.ccop.or.th/epf/philippines/other_pdf/TechnicalReport.pdf
RE: Devil's advocate
Personally think the last RNS was poorly worded, we are awaiting confirmation that our 15% share is assigned, there's no approval needed, as far as I understand. Should be a formality IMO.
on the other hand
1) The Board of Red Emperor Resources NL (“Red Emperor” or “the Company”) is pleased to advise that its Joint Venture partner and Operator of Block SC55 Otto Energy Ltd (ASX: OEL) (“Otto”)has executed a binding contract with Maersk Drilling to secure the Maersk Venturer ultra deepwater drill ship to drill the Hawkeye-1 exploration well. http://redemperorresources.com/wp-content/uploads/ExecutionOfDrillingContractWithMaerskDrilling05May15.pdf 2) reply : Plugged & Abandoned - Otto Energy Friday 3rd 2015 "The intention with this well is to drill a vertical well (as against a horizontal well) to test that oil or gas exist in this location. We will then use various tools to analyse the hydrocarbons at the location in order to help evaluate the results and plan for future activity. There is no intention to complete this well and bring it into production – ultimately it would not be optimally located as a production well. Therefore the well will be made safe by the insertion of cement plugs to ensure that the well does not leak to the surrounding environment. This is normal industry practice for a well of this nature. If the well is successful, a follow-up campaign will be planned to appraise and bring the field into production. It will also tell us a lot about the potential for surrounding prospects in the SC55 licence to be prospective for similar discoveries" Kind Regards Matthew Allen Managing Director and CEO Otto Energy
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