This article is 19 years old. Images might not display.
Shares in Nexus went up 20%, but just 2.9% for the month.
The company’s Longtom field in VIC/P56 is about 20 kilometres south of Kipper. The Kipper partners - Esso, BHP Billiton, Woodside and Santos - applied to the Victorian government last week for a production license for this major gas field.
When contacted by EnergyReview.net, Tchacos shrugged off any suggestion the jump in share value was linked to VIC/P56 being connected to any infrastructure the big four may install at Kipper.
He maintained the rise was due to Nexus better defining its drilling program at Longtom. However Nexus has not made any releases on this field for several weeks.
Tchacos said the company planned to drill an exploratory oil well in VIC/P56 in November.
Korean National Oil Company and Seoul City Gas Company farmed into the permit six weeks ago.
Seismic surveys indicated two overlaid prospects between 3000 metres and 4000m at 600m water depth, Tchacos said.
A prospect is estimated at 80 million barrels and another between 40 million and 60 million barrels.
"The unique thing is they can both be intersected by one well,“ Tchacos said.
Permit Vic/P56: Nexus 50%, Korean National Oil Company 30%, Seoul City Gas Company 20%.
