Yes I should perhaps clarify my earlier comment. I understand from comment on the grapevine that the Kiwi company looked at the information early last year. Now without checking dates precisely I think that would put that investigation before any work was done on re-evaluating the earlier data that was subsequently found gathering dust somewhere in a cupboard.
So the reworked material was not available at the time obviously. Available some 12 months later.
The kiwi company at the time just had some gravity data to look at and no meaningful seismic data to justify the prospectivity. So it flagged it.
Maybe that rejection made QPN think that it needed to produce something a little more convincing to back up any further efforts to find a JV partner. Hence the old data being found and given a reinterpretation with more modern technology.
So there is still some hope that some other company may take an interest. But I have a hunch that QPN needs to either get a company involved that will undertake a modern seismic programme to identify a good target, or else QPN needs to raise some money to get modern seismic data on its best hopes so far and then convince a suitable JV partner.
Certainly the Indonesian adventure has proved a far harder nut to crack than was initially expected I fear.
QPN Price at posting:
0.1¢ Sentiment: Hold Disclosure: Held
