· Restricted availability of suitable vessels has delayed the results from the survey are not expected to be available until Q3-2014
· Vessel unavailability delaying FDP submission to Q4-2014
· First gas expectation pushed to mid-2016
· Alpha Petroleum has also pushed back the date of an appraisal well to allow for time to compare and find a suitable rig
· Drilling will now start in Q2/Q3-2015, later than the earlier target of Q3-2014
· The well will appraise the Skipper discovery and target two exploration prospects directly beneath the Skipper discovery
On a best estimate, the Blythe Field is expected to contain resources of 34.3 Bcf while the Skipper Field is expected to contain resources of 26.2 MMbbl.
Blythe and Skipper ownership: Alpha Petroleum Resources (50%, operator) and IOG (50%).
In Mar-2014, Alpha Petroleum was granted an extension for the Blythe and Skipper fields located in the UK North Sea.
In Dec-2013, IOG commenced the process to replace ATP Oil & Gas as the operator of the Skipper oil field and Blythe gas field, located in UK NNS and UK SNS respectively.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.