RE: PTTEP massive oil discovery in L53 For those that want to see the location of the PTTEP discovery versus the two prospects identified by POE through 3D seismic, they are all shown very clearly on page 7 of the new 2013 POE presentation. POE will probably like to drill as soon as possible, but they do not have the drilling permits, which take a very long time in Thailand. Thus their estimate of June 2013.
That incidentally is the advantage in the current drilling at L53 D East, as they now have there a global development permit for that whole section and thus,unlike last year (where they could produce for 90 days only, as a test, and then shut off the well), now they have no such restrictions with the current drilling.
Don't know what the size of the PTTEP discovery is. I have heard it is large, but doubt it is anywhere near the size of the Indonesian prospects. However, the netback per barrel in Thailand is much higher than Indo, where a portion of the oil produced goes to the govt., aside from taxes.