HRT facts Superoilhunter is being a little bit too positive. This info. is from HRT
DRILLING CAMPAIGN IS SET TO BE STARTED IN 1Q13
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TRANSOCEAN MARIANAS
? Delivery to HRT: January 2013 ? Mobilization: 22 Days ? Mandatory Inspection: 21 Days ? Start-up of Drilling: 1Q13
-The drill bit will start to turn in March 2013
ANALYSIS OF FARM-IN OFFERS
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Namibia
Land of Giants
? HRT has received multiple firm offers
? Negotiation processes are in progress
? HRT reached commercial term agreement in one deal - Farm-Down Agreement documentation is in its final stage of preparation
-we should see at least one Major farming in by the end of the year, possibly more
NEW D&M REPORT
Prospective Resources Update - based on 3D seismic data
? Resource report performed by D&M during 3Q12 to be released in 4Q12;
? The majority of the prospects are supported by excellent quality 3D-seismic data;
? Murombe is the largest oil prospect and Wingat is the oil prospect that has one of the highest geologic probability of success (Pg).
-PEL 23, which ECO surrounds, has the largest oil prospect and the one with the highest chance of success...which means they will probably drill here first as they are desperate to hit oil and not more gas.
2-4 well drilling campaign in Namibia (>2 wells with partners
-atm they will only pay to drill two wells, hopefully four wells but that is reliant on farm in success
One more thing. Tower/Repsol/Arcadia are also one of ECO's neighbours and will drill in 2013 based on excellent 3D data. They will be drilling through 4/5 leads in one drill. One of the leads has been given an extraordinary 40% COS. The rest are 20-25 %.
Walvis Baisin looks like being the hottest property offshore namibia in 2013 and ECO has lots of territory and is due to start a 3D seismic campaign very soon following this placement.