Dialog

Dialog’s re rating process could gathered momentum with the following key takeaways …

1.      Pre-development progress of the Balai small field risk sharing contract which started drilling its first well Bentara 2 on Sept 11, 2012 and could reach its planned depth of 2750m by early Oct 2012. This is well is part of the field’s pre development phase which could have a possible earlier than expected production by end of 2012;

2.      While the Balai oil and gas production is expected to start by second quarter FY2013, there is a possibility of earlier completion if the early production vessel for this project can be converted by early 2013. dialog has completed the fabrication of the four wellhead platforms at the group’s Balingian province off Bintulu, Sarawak , to secure additional marginal field projects in the area when the group completes its first RSC job;

3.      Dialog may be on the verge of being awarded a very significant enhanced oil recovery project in the Balingian province;

4.      Pengerang development continue to be rolled out with Dialog, Koninklijke Vopak and the Johor government planning to invest in a rm4.1 billion LNG terminal which is in additional to earlier project costing rm5 billion.