OSH 0.92% $3.79 oil search limited

P’nyang gas field for PNG LNG Project

  1. 6,083 Posts.
    lightbulb Created with Sketch. 297
    Any thoughts on why the delay in drilling the P’nyang South 2 well that was supposed to be drilled this year?
    With Antelope 7 and Strickland drilling failures P’nyang is increasingly important to provide gas for additional trains for the PNG LNG Project. The PNG Government is yet to grant a PDL for the field and has been criticised for providing ownership over resources in PRL 3 P’nyang as soon as they switched on electricity to the Port Moresby grid from the LNG Plant at Caution Bay. But without full appraisal surely P’nyang South 2 well is needed before a PDL is granted? O'Neil says they (PNG Cabinet) want the JV partners to 'do a few things' before granting the PDL. It seems inexplicable that the P’nyang South 2 well was not drilled but of course there is a reason (that escapes me). It's not money, the failed Antelope 7 cost more than USD 16m, P’nyang South 2 well would cost less than USD 3m. Any ideas on this?
 
watchlist Created with Sketch. Add OSH (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.