I think the basic idea is to drill three wells on each property, but from what I saw of the agreement, the only requirement is to drill six wells total.
Drilling to the primary zone in the area takes about a week with an extra day or two to mobilize the rig for other locations. I can't see them drilling less then three wells; one after the other, once a rig is on location. To drill just one or two wells, then move the rig 150km to drill just one or two more would increase the costs considerably.
A year or two ago, the real excitement was in PEL 112 where the trendline of major discoveries by Beach and partners came withing a few kilometers of PEL 112. Once they got to the PEL 112 border drilling was moved further north trending toward PEL 444 with continuing discoveries.
To the south around 112, virtually all of the discoveries were oil. But up towards 444 natural gas to include shale gas and coal seem gas discoveries have been made in addition to oil. So some might say that 444 could have even greater potential then 112. However, to date, most of the current 2D seismic data HENC has is on 112. For that reason I believe the first three wells at least will be drilled on 112.
Market Data 
Markets 
AI
