best exposure for palta #1 well shell drilling, page-7

Spoke to Andrew Dimsey earlier in the week.
Firstly we spoke about Palta, his assessment based on the latest rig report is that they have resumed drilling (probably been drilling for about 30 days post BoP failure) and target depth should be reached in next few weeks.
A commercial discovery at Palta will, in their opinion, likely see Mitsubishi come knocking with its cheque book in hand. Mitsubishi currently have 25% interest in the Palta prospect and the Cott j/v would bring it closer to a 50/50 split with Shell. If this scenario plays out we are looking at some very serious $$$$.
So Palta clearly has the near term sex appeal but it is the PNG assets and the strategy here which holds the most promise.
The PNG strategy revolves largely around the Talisman aggregation project, the Stanley condensate project and more generally majors corporate activity.
CMT has chosen its ground carefully with an eye to value adding on strong targets deemed to be attractive to the big projects being planned in the area.
PPL 437 should provide some near term interest with drilling nearby of the Tinga well in PRL 21. PPL 437 has 3 targets with potential for .5TCF each and borders PRL 21.Take a look at the map in recent Cott presentation this lease is right in the action.
PPl 435 and 436 have some huge structures and excellent prospects with good access via the river. The big boys need resources to add scale to their projects and these leases are all about location, accessability and being on trend to known discoveries.
Corporate activity is set to heat up again in PNG and I got the distinct impression that Cott has its finger firmly on the pulse.