Past year: ▲ 85%(26.13 – 50.92 USD)
Each one in plain English, with the numbers worked through for a shareholder.
30 Mar 2012drilling progress report● Neutral
Triceratops-2 reached 5,971 feet with persistent mud losses of 5-40 barrels an hour in the carbonate; drill-stem test equipment was delayed, so InterOil chose to keep drilling toward about 7,546 feet and log the well first, deferring the flow test. The same release extended the Mitsui condensate-plant deadline to 30 June 2012 and Energy World's to 31 December 2012.
30 Mar 2012drilling progress report▲ Good
InterOil called a technical conference call after drilling 1,489 feet of the target carbonate at Triceratops-2, with background gas from methane through to heavier hydrocarbons, condensate shows and dolomite indicating reef development. Encouraging mud-log indications only - the well had not been flow tested.
17 Jan 2012drilling spud● NeutralMajor
Drilling began on Triceratops-2, an appraisal well on a structure first tested by the Bwata-1 well in 1959, which flowed up to 28 million cubic feet of gas a day over a 512-foot gas column. Planned to about 7,579 feet and 60-120 days to drill, log and test; new seismic had mapped a larger closure with the same character as the Antelope reef.
