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Junior Member
Originally Posted by shasta
I see we are due the results anytime from SC55 in the Phillipines - and it looks to be a big gas prospect.
A few Aussie ASX listed companies have permits over there, Im hoping the SC55 results show we have a monster & that the Directors put up the NOT 4 SALE sign...
NDO are presently acquiring seismic for blocks SC 54 , SC 58 and SC 63 offshore Palawan in the Phillipines.Probably no connection but something to keep in mind for later on.Being neighbours and all.
Nido -- DOMINATING THE PALAWAN BASIN 22 October 2007
Last edited by Wysiwyg; 28-10-2007 at 03:05 PM.
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Originally Posted by Wysiwyg
NDO are presently acquiring seismic for blocks SC 54 , SC 58 and SC 63 offshore Palawan in the Phillipines.Probably no connection but something to keep in mind for later on.Being neighbours and all.
Thanks for bringing that to our attention
I know nothing about NDO, so might have a look.
As Delboy would say "You know it makes sense"
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Scary stuff if it comes to fruition
Data seen to confirm Otto’s big oil, gas prospects
By Abigail L. Ho
Inquirer
Last updated 05:54am (Mla time) 10/20/2007
MANILA, Philippines -- Australian firm Otto Energy Ltd. will start next month interpretation of 950 kilometers of 2D seismic data from the offshore Marantao prospect in west Palawan in preparation for a farm-in agreement to be signed in late 2008 or early 2009, its local partner said.
Trans-Asia Oil and Energy Development Corp., partner of Otto subsidiary NorAsian Energy Ltd. and holder of 15-percent interest in Service Contract 55, said in a disclosure to the Philippine Stock Exchange that the data gathered in June gave initial indications that the Marantao prospect had “potential for a significant oil and/or gas discovery.”
Otto chief executive Alex Parks earlier said that based on preliminary seismic data Service Contract 55 was estimated to contain 1.8 trillion cubic feet (TCF) of gas and 567 million barrels of oil.
If only oil is found in the area, prospective resource estimates are placed at between 320 million and close to 2.7 billion barrels.
If the area contains only gas, the potential yield is estimated at between 721 billion cubic feet (BCF) and 5.6 trillion cubic feet (TCF -- even bigger than the Malampaya gas field’s 3.0 TCF.
And if both oil and gas are found -- similar to that of Malampaya-Camago area -- Otto can expect a yield of between 468 BCF and 3.6 TCF of gas and between 144 million and 1.1 billion barrels of oil.
“Marantao is the jewel in our exploration portfolio in the Philippines, and we are pleased with the prospectivity of this license from the initial 2D seismic data,” Parks said. “Once Otto has a clear understanding of the ultimate potential of the block, select companies will be invited to view the interpretation and commence farm-in negotiations.” With INQUIRER.net
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Junior Member
Quick question shasta or anyone......Do you think OEL or NDO have the best upside in the Phillipines???????
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Member
Originally Posted by Wysiwyg
Quick question shasta or anyone......Do you think OEL or NDO have the best upside in the Phillipines???????
I personally think oel, they seem to me to be on the ball, why not have a foot in both camps? well done for picking ndo.
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Nice going fellas and excellent timing Shasta
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Junior Member
Originally Posted by ronthepom
I personally think oel, they seem to me to be on the ball, why not have a foot in both camps? well done for picking ndo.
Yeah ron I opt for OEL too because of the less shares on issue.After the planned capital raising they will have about half or less than what NDO have.Also OEL has similar high impact targets in Phillipines, are near to NDO % (18% v 22%) of Galoc oil field and have Turkey and Argentina.I think they have enough blocks to do something with .
Once the deal is approved at the G.M. of course.
Last edited by Wysiwyg; 29-10-2007 at 01:51 PM.
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Originally Posted by Wysiwyg
Yeah ron I opt for OEL too because of the less shares on issue.After the planned capital raising they will have about half or less than what NDO have.Also OEL has similar high impact targets in Phillipines, are near to NDO % (18% v 22%) of Galoc oil field and have Turkey and Argentina.I think they have enough blocks to do something with .
Once the deal is approved at the G.M. of course.
So we get an 18% odd piece of a 23.4mmbo oil field = approx 4mmbo to OEL
Nice - @ $A100bbl thats a cool $400m revenue
Nice also to see we have two playmates in Turkey/Phillipines, NDO & IPM
Surprised the SP didnt hold 40c, but tomorrow the news will have filtered thru the market.
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Originally Posted by shasta
So we get an 18% odd piece of a 23.4mmbo oil field = approx 4mmbo to OEL
Nice - @ $A100bbl thats a cool $400m revenue
Nice also to see we have two playmates in Turkey/Phillipines, NDO & IPM
Surprised the SP didnt hold 40c, but tomorrow the news will have filtered thru the market.
Might make up for the disappointment of GDM Shasta. Yes we should see 40 cents tomorrow.
http://www.ottomanenergy.com/media/E...Securities.pdf
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Member
Hi Shasta, dont forget Argentina i was told when i bought in at 18.5c that they were a longer term hold re. argentina. Alec Parkes is a smart cookie!
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