HYSY941

Ive commented at least once (probably twice) that the level of enthusiasm in the Beibu infill announcement/s exceeded the increase in field production coupled with the results from the 2 wells themselves.

Ive found out why the company was/is so enthustiastic about CNOOCs performance,about the upcoming Phase 2 wells and ,about doing more infill drilling in the Phase 1  licence.

And of course about applying  what hasjust  been  learnt in the last of Phase 1 drilling  to Phase 2 .when it  gets underway.

Its the RIG that is the shining star (but  CNOOC deserves a bit of a mention,for sure.)

They have only just gone into service (in the last year,say) and they are in the process of rendering all previous jack-up rigs obsolete. Like worth just scrap value,given a limited time for users to get up to speed before ditching most of the old jack up rigs.

Its a sea change we are looking at here.

The HS (etc) is Chinese -owned.

CNOOC has got hold of it early,I think,in the metamorphosis  from old to new technology.

Whether they still have access to it is unknown.

It may not have gone on to another company in another part of the world.

Its probably hot property (guessing that the new bred of J.U. rig is in short supply.)

Its performance on our 2 infills seems to be the norm for the new generation of JU rigs. CNOOC didnt just get lucky with the 2 infills.

We decidedly look as if a whole new canvas is appearing as we swap from Phase 1 to Phase 2 (but HZN have said they are going to,in the short term drill additional wells in Phase 1 territory.).Plenty of good things coming up at Beibu-thanks to CNOOC and even more thanks to the new generation of JU rig that has appeared.