PRESENTATION - 6th April 201816 May 2018 21:51
Here is a reminder how good the potential of our Unconventional and Conventional plays:
The Company�s preparations for the launch of its planned farm-out, ahead of 2019 drilling operations, is well underway. The formal process is expected to commence mid-2018, based on the early products from the 3D seismic survey. The Company remains confident of achieving a successful outcome to the farm-out process prior to year end for the following reasons (based on the assumption that the 3D seismic is confirmatory of the prospectivity already identified on our 2D database):
� High quality database comprising both modern reconnaissance 2D and focused 3D seismic
� Excellent oil shows, including live oil to surface, in nearby wells at horizons where good quality reservoir is also evident � coinciding with large mapped leads within the regionally proven Brookian play type
� Multi-year permits are already secured for two well locations within the 3D acquisition area, allowing for near term (1H CY2019) drilling
� Excellent operating capability, as evidenced by two recently drilled and operated wells, by the Company � both within budget and on schedule
� Flexibility to cede operational control, to a suitably operationally experienced partner
� Large discoveries in Brookian play type in nearby acreage to the north
� Recent industry transactional activity on neighbouring acreage, valuing discovered resources at >US$3/bbl (Source: Oil Search investor presentation Dec 2017)
Project Icewine � Icewine#2 Flow Test
Planning is being finalised for the re-opening of the Icewine#2 well, which remains on schedule for April/May 2018. Exact timing is dependent on warmer temperature, with further details to be provided in the coming weeks.
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