From Karoons statement today:
"Ten reservoir fluid samples were recovered to surface, two of which were opened and
preliminary measurements confirmed the oil at 42 degree API."
Generally speaking, oil with an API gravity between 40 and 45 commands the highest prices. Above 45 degrees the molecular chains become shorter and less valuable to refineries. As a comparison: West Texas Intermediate (39.6° API)
"Preliminary petrophysical analysis estimates reservoir porosity in the 25-32% range, with
permeability tested in two sands at 100-300 mD."
My understanding is that is considered high permeability, which should mean good flow rates.
All in all a very good clear report today in my view.Good things to come.
Stevo
everything we asked for and more, page-19
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