*what an absolute bargain*, page-55

re: an absolute bargain - tiof definitely commerci Hi all,

Gee, it seems WPL's negative spin has certainly taken hold of some of the faithful. Once again, here are a few of the more recent Angolan finds.

"The Ceres well tested at a maximum rate of 5844 barrels of oil per day, BP said. Work is ongoing to discover the size of the discovery."

"The BP-operated Palas-1 discovery was drilled by the semi-submersible Leiv Eiriksson in 1600 metres of water to a total depth of 3745 metres. The well tested at a maximum rate of 5330 barrels of oil per day, through a 5/8-inch choke."

"The discovery well, Clochas-1, encountered an oil-bearing reservoir that flowed at a test rate of 1764 barrels per day. It was drilled in 1295 metres of water to a total depth of 3140 metres."

"The Plutao discovery, revealed earlier this year by Upstream, was made in more than 2000 metres water depth in block 31. "The well was tested at a maximum rate of 5357 barrels a day of oil," BP said."

"The Semba-1 wildcat, the first well drilled in block 24, encountered two oil-bearing reservoirs that flowed at a combined test rate of 3039 barrels per day."

Now back to Tiof. All 6 wells to date have encountered significant hydrocarbon columns. Now does anyone know of a discovery that has had 6 wells drilled into it only to conclude it was uneconomical ? Didn't think so! The JV would have known after the 2nd well and if not, certainly by the 3rd well! There is no doubt in my mind Tiof will be developed. No questioning the fact IMHO.

First the original flow announcement.

The maximum rate the well has been flowed at was approximately 12,400 barrels of oil plus 11.0 million standard cubic feet of gas per day constrained by a 104/64 inch choke. The well test is currently in the main flow period and the well is flowing at a stable rate of approximately 9,150 barrels of oil per day in the main flow period constrained by a 72/64 inch choke. Note: The gas production is of gas dissolved in the crude oil - no free gas was observed in this well.

Now for the comments.

"The flow rates we have achieved at Tiof-6 exceed our pre-test expectations."

"We would usually expect the flow rate to increase considerably under more normal production conditions when we will have much larger storage facilities and can draw the well down harder. In Chinguetti for example we’re anticipating that we could roughly double the production rates compared with the test rates."

"We actually expected a much lower flow rate because the reservoirs in this area are more complex and less permeable than those at Chinguetti. The flow rate indicated that we’ve got a better reservoir at Tiof than we first thought and that’s what underpins the higher flow rates."

For those with short memories ! :)

Doris study tees up options for Tiof development

DORIS Engineering in Paris has completed a conceptual engineering study for the Tiof oilfield off Mauritania in Africa as momentum builds toward a decision on field development of the discovery by operator Woodside Petroleum, writes Anthony Guegel.
The study, which was recently delivered to Woodside, screened several development options for Tiof, but it did not include a feasibility analysis, a well-placed source said.

Tiof, which is located about 25 kilometres north of the larger Chinguetti oilfield, which is already being developed, is estimated to contain between 300 million and 350 million barrels of recoverable oil, according to Hardman Resources, one of Woodside's partners in the block. Six wells have been drilled on Tiof and have been suspended as future producers.

However, only the latest hole, Tiof-6, was flow-tested. It intersected a gross column of 124 metres and flowed a maximum of 12,400 barrels of oil and 11 million cubic feet of gas per day and maintained a stable rate at 9150 bpd.

"We now have a mass of information on the Tiof field," said Hardman Resources director Scott Spencer.

He said some sort of floating development is "where Tiof is heading", but cautioned that the partners are still digesting well data.

Spencer said that since only one well has been flow-tested on Tiof, more information and analysis may still be needed including one or more appraisal wells before a firm field development decision is made.

As a result, Spencer said he could not say when invitations to tender for a production facility could be issued. However, he maintained that the Tiof partners want to press ahead "as expeditiously as possible".

According to Spencer, Tiof is scheduled to begin production in 2008.

Meanwhile, Chinguetti's Berge Helene floating production, storage and offloading unit, which is owned and operated by Bergesen Offshore, is continuing to undergo work in Singapore and is scheduled to sail away in September.

The 275,000-dwt vessel will produce up to 75,000 bpd of oil from six development wells and store 1.6 million barrels in the cargo hold.

An additional tie-back to Chinguetti, called Tevet, is planned after production start-up at Tiof, according to Spencer.

The FPSO will also host five wells for water injection and one for gas injection. Production start-up for the $625 million field development is expected in the first quarter of 2006.

Woodside is the operator of the blocks containing Chinguetti and Tiof. The company also owns more than 10% of Hardman's shares.


Cheers,
xmagx