InterOil Readies Antelope-1 Site for Drilling

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  hans10110/13/08 Report as spam
  1

  RE: InterOil Readies Antelope-1 Site for Drilling

  Many omissions here.
  1) Elk1 limited flow rates?? It had the same flow rates as the record flowing Elk4.
  2) There is an independent resource estimation coming out within weeks. Their own estimates are between 8-12Tcf
  3) Just those two record flowing wells, Elk1&4 together can supply 40% of the gas needed for an LNG facility already. Compare that to coal seam gas projects in Australia, where they have to drill, treat, and man thousands (20,000 as in the case of Conoco/Origin), with labour cost at a multiple compared to where IOC is (Papua New Guinea)
  4) Refinery has turned around
  5) They're not looking at the credit markets, they're looking for partners and many are interested. LNG is still very hot in Asia, and first supplies in 2014, the present mess will be history.
  
  For more on IOC see:http://shareholdersunite.com

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  10Q_Detective10/16/08 Report as spam
  2

  RE: InterOil Readies Antelope-1 Site for Drilling

  #1. "No major activity occurred at the Elk-1 or Elk-2 well sites during the second quarter of 2008. The Elk-1 well drilled in 2006, has been suspended as a gas/condensate discovery." Direct from corporate 6-K filing.
  #2. re: "There is an independent resource estimation coming out within weeks." I am not a mind reader. It would be difficult to base my story on supposed estimates coming out AT SOME FUTURE DATE.
  #3. Agree with your third point --assuming a SECOND commercial discovery is found.
  #5. "They're not looking at the credit markets, they're looking for partners and many are interested" Point one contradicts company Registration Filings; Point 2 -- again, based on conjecture.
  Thank you for your interest & comments

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  hans10110/22/08 Report as spam
  3

  RE: InterOil Readies Antelope-1 Site for Drilling

  Elk1 had comparable flow rates to Elk4 (in a test run for a week, with no decrease of pressure whatsoever). Does it matter that this was two years ago? No, not at all. What do you suggest they do with Elk1? They do not have an LNG facility to supply gas yet, so the only thing they can do is suspend operations, unless you have some kind of brilliant suggestion.
  
  The fact that they have no present use for it doesn't detract in the slightest that Elk1 is as big a well as Elk4. SO THEY ALREADY HAVE A SECOND COMMERCIAL DISCOVERY. Why call Elk4 a commercial discovery and Elk1 not, just because one has been drilled before the other? It's nonsense.
  
  Elk4 has no been suspended, does that mean it's not a commercial find anymore? Of course not.