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Voya Asia Pacific High Dividend Equity Income Fund T.IAE


Primary Symbol: IAE

Voya Asia Pacific High Dividend Equity Income Fund (the Fund) is a diversified, closed-end management investment company. The Fund’s investment objective is total return through a combination of current income, capital gains and capital appreciation. The Fund seeks to achieve its investment objective by investing primarily in a portfolio of dividend yielding equity securities of Asia Pacific companies. The Fund will seek to achieve its investment objective by investing at least 80% of its managed assets in dividend producing equity securities of, or derivatives having economic characteristics similar to the equity securities of Asia Pacific Companies that are listed and traded principally on Asia Pacific exchanges. The Fund will invest in approximately 60-120 equity securities and will select securities through a bottom-up process that is based upon quantitative screening and fundamental analysis. Voya Investments, LLC is an investment adviser of the Fund.


NYSE:IAE - Post by User

Post by cohoeon Jul 24, 2012 1:58pm
375 Views
Post# 20147341

Blew Bombers and Athena HA.M/S

Blew Bombers and Athena HA.M/S

  Working on your Tan, up in the lake country, EH!.  Did you bring a couple of cases of Gin with you or are you making it in the Bathtub?.

 As I have said before I once worked with a American oil engineer in the oil fields of Alberta and one of his favorite sayings when projects were behind shedule or not producing was,Quote,"This whole she-bang is starting to give me a big bad case of RED A*SE".

 Needless to say,but,I will say it anyway, "What is happening on the Briney Deep at the Outer Moray Firth, Athena oil field would qualify for the wrath of my old American buddy.

   For starters this Athena project started out on the Money,with the sub-sea production work in place and waiting for the FPOS BW Athena to arrive,hook up to the oil manifold and get the show on the road. The oil shuttle tanker BW Betty Knutsen was standing by waiting for a load of oil to transport to the Nigg Oil Terminal. This first delivery went according to Hoyle and the Betty K was on her way back for another load,when Ithaca Energy put out a P/R saying that only three of the four production wells were working and the problem with the fourth well was that rubber "O" rings were left in the downhole well bore,but, that production downtime would only be temporary and the other three wells would be run at 75 per cent.

 That was a Month ago

  Now here's where I scratch my head. Even at 75 percent the Athena should be able to pump enough oil to fill the Betty K. and on Betty's latest course, it appeared that she was headed back to the Athena to fill up,but, low and behold all the Betty K did was TOOT her horn, on the way past the Athena and headed for Norway. 

 One of the options that Ithaca Energy came up with was if the plugged well could not be put back into production, a well work over would be sheduled for late Fall.

 I would speculate that the Betty Knutsen has gone back to Europe to her old job of shuttling oil from off shore oil fields to oil terminals thus, it appears that IAE has settled for the late Fall work over and with  the Hurricane well TD, two Months hence,it is going to slim pickings for a while.

Athena sub surface

Athena Development Schematic

  • The Athena field is situated in block 14/18b in the  Outer Moray Firth area of the UKCS, lying approximately 18 kilometres west of the Claymore and Scapa fields and the associated production facilities. Ithaca currently holds a 22.5% interest in the block 14/18b. Two wells drilled and appraised the Athena discovery in the 1990s and tested oil.
  • Ithaca Energy has drilled 3 appraisal wells on Athena, all of which were suspended at the time of drilling for later completion as production wells. The appraisal wells recovered 25 to 28 API crude with test rates of between 1,150 bopd and 2,330 bopd observed. All wells were been drilled from one central location to facilitate subsea development.
  • The Athena field is located on a structural high point between the Jura and West Scapa depositional basins, which developed during rifting. Oil is trapped in deep basin sands which entered the basin off the Halibut Shelf ponding in stratigraphic lows. The reservoir in Athena consists of the Leek and Scapa Sandstones. To the north, Athena is a stratigraphically bounded while to the south the sand is truncated by the Athena bounding fault.

Athena-subsurface


Detailed Subsurface

The Athena field is located on a structural high point between the Jura and West Scapa depositional basins, which developed during Mesozoic rifting. The Leek and Scapa sandstones of the Lower Valhall Formation were sourced from the Halibut Shelf to the south of the Athena field. Turbidite sands entered the basin at the junction through a transfer or fault zone between the NW/SE trending Jura Basin margin of the Halibut Shelf, and the SW/NE trending margin towards the West Scapa Basin. An area of low structural relief on the underlying BCU surface can be seen on the seismic interpretation. The sands were locally sourced from reworked Devonian alluvial clastic sediments that form the basement of the Halibut Shelf, possibly being eroded by fluvial systems on the exposed Halibut Horst, and stored in a shallow shelf environment. Turbidite sand lobes were deposited into the basin, initially directed to the accommodation space created in the Jura Basin, but eventually filling to the east and onlapping onto the basin margin towards the north. The Leek and Scapa Sandstones pinch out into the calcareous Valhall Marls, forming the stratigraphic trap for the Athena Field to the north. To the south, the Leek and Scapa Sandstones either onlap or are truncated against fault scarp conglomerates derived from the Halibut Shelf edge.

Deposition of conglomerate/breccia facies along the edge of the Halibut Shelf to the south of the Athena field is widely recognised in the area; several exploration wells encountered tight conglomerates (e.g 14/18a-8, 8z and 14/18b-17z) between Athena and the Scapa Field to the east. No conglomerates have been encountered in the Athena field main area. The location and nature of the boundary between the fault scarp conglomerates observed in 14/18b-17z and the Leek Sandstone reservoir of the Athena field area is not well defined.

Calcareous cementation of the reservoir is interpreted to increase towards the northern pinchout out edge of the field, and towards the edges of individual sand lobes. Increasing distance from the clastic source area (the Halibut Shelf), is interpreted to lead to a lower rate of clastic deposition and greater calcareous deposition of the Valhall Formation and a lower Net to Gross (NTG); this observation is constrained by existing wells in the core area. 14/18b-18, the most northern well in the field, encountered a relatively low NTG section but other reservoir properties (particularly permeability) are significantly better than well 14/18b-15a which lies further south. This evidence suggests that there is not a strong link between NTG and well productivity and therefore additional upside may exist along the northern f

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