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P’nyang gas field for PNG LNG Project, page-2

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hunchback33

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26/12/16

17:43

Post #: 21559964
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Originally posted by m0ngy ↑

Any thoughts on why the delay in drilling the P’nyang South 2 well that was supposed to be drilled this year?
With AntelopO'Neil says they (PNG Cabinet) want the JV partners to 'do a few thingse 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?

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"O'Neil says they (PNG Cabinet) want the JV partners to 'do a few things*

Guess, what the few things are.

OSH Price at posting: $6.96 Sentiment: Buy Disclosure: Held
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