BHP 1.55% $49.57 bhp group limited

bhp - value tomorrow?

  1. 252 Posts.
    anyone care to put a value on the recent ann.
    by bhp aftermarket today, what was interesting beside the whopping pay zones was how long the drill went for!!(since January)

    Steve Bell, President of Exploration and Business Development for BHP
    Billiton Petroleum, said today: "This is a very encouraging result on
    a large structure. Of course, it is early days and the result must be
    seen in perspective. While this is the deepest penetration to date on
    Chinook, we must have more appraisal data before we can be definitive
    about the scale of resource. Importantly, this strengthens our
    inventory of BHP Billiton-operated discoveries in the area. With
    Shenzi, Cascade, Neptune, and Vortex, we have a full appraisal
    programme in place to evaluate and, if successful, create more value
    by ultimately commercialising these hydrocarbon accumulations."

    Drilling on Chinook-3 began January 13, 2003, using the BHP Billiton
    operated drillship C R Luigs. BHP Billiton owns a 40 percent
    interest and is the designated operator of Chinook with Petrobras
    owning a 30 percent interest, and Total and Amerada Hess each holding
    a 15 percent interest.

    BHP Billiton holds interests in more than 340 blocks in the Gulf of
    Mexico, where the company is actively exploring for oil and gas.
    Deepwater projects sanctioned for development include the Atlantis
    and Mad Dog oil and gas fields, in addition to producing assets at
    Typhoon and Boris. In the past year the company has announced
    discoveries at Cascade, Shenzi, and Vortex, all of which are located
    in deep- and ultra-deepwater blocks.
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