Good post as always Anatol, but if I may, the tenement directly to the right of right of PEL 218, ATP 855 is also owned by BPT and Chevron (+ICN). The majority of Drillsearchs Unconventional tenement is to the south east of PEL 218, so it is dealing with lower temperatures and less depth. Also, unlike BPT/Chevron, Drillsearch has specifically modified their rig to deal with the issues that BPT/Chev has faced. In fact, Drillsearch lent BPT/Chev some equipment when they almost had a blowout.
As for which acreage is going to be the most productive and economic, that is still not proven either way. Especially since the area you are focusing on has not had the same number of wells drilled, fracced and flow tested as PEL 218 and ATP 855 have. I will go so far as to say that over $350+ million has been spent so far on PEL 218 and ATP 855. AQOs tenement, as well as PGS has had very little done. That is not to say that old wells have not provided some data, they have, but as you know from NSE, until the well is drilled, there is no certainty.
if fact, Drillsearch should know whether its acreage is better by the end of the year as their fraccing program will have some results by then. PGS will have to wait until next year for Senex/Origin to get their program to the point of flow rates.
Sorry to those who this is not directly relevant too, but there is no way to remove all the stock links...
NSE Price at posting:
14.0¢ Sentiment: None Disclosure: Not Held
PGS Price at posting:
2.0¢ Sentiment: Hold Disclosure: Not Held
AQO Price at posting:
37.0¢ Sentiment: Hold Disclosure: Not Held
BPT Price at posting:
$1.71 Sentiment: Hold Disclosure: Held
DLS Price at posting:
$1.51 Sentiment: Buy Disclosure: Held