SXY 0.00% $4.60 senex energy limited

sxy largest acerage holder in the cooper, page-5

  1. 7,016 Posts.
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    I also have to take issue with how SXY categorizes some of the wells. Burruna-2 was drilled into a semi-existing field, albeit one with weak shows. Pirraminta-2 found water... so not a success (but I think SXY are counting it as such).

    Spec' re your claim about Pirraminta-2, that is a false claim! Senex have never ever claimed it a successful well!

    Spec' if you re-read the Dec Drilling report, released on 8th Jan I think, you will see 13 of the 15 wells drilled in the first half are successful [16 on list if you count the bottom incomplete well in the table].
    The two from the list not successful were Pirraminta-2 and the Worrier-[9?] well which Senex proceeded with at sole risk.

    As for Burruna-2 it began production on or before 15/10/14 as per this ann' below. My bolds:

    Burruna-2 Commences Production – Flows at 3,600 Barrels Per Day
    The Board of Orca Energy Limited (Orca or the Company) is pleased to update the market in relation to the Burruna-2 oil discovery in southern Cooper-Eromanga Basin permit PEL 115 (Orca 20%, Senex Energy Limited (ASX: SXY) 80%).

    The Joint Venture has commenced an extended production test at the Burruna-2 oil discovery, which produced oil at a free-flow rate of more than 3,600 barrels of oil per day (bopd) on a 40/64” choke from Namur Sandstone. Production will be restricted to approximately 800 bopd.
    The extended production test will provide information to allow correct sizing of pumps and surface facilities for artificial lift and long term production planning.


    Also Burruna-3 was drilled since and was a success as per this 3rd March ann' which details an extra zone from the highly productive Birkhead sandstone...

    Burruna-3 Successfully Completed as Future Production Well Orca Energy Limited (“Orca”, ASX: OGY) is pleased to advise that the Burruna-3 development well has been completed as a Birkhead Formation production well after successful flow testing.
    Orca’s Joint Venture partner and Operator, Senex Energy Limited (ASX: SXY) has advised that the Burruna-3 development well has now been successfully completed as a future oil producer and the workover rig released. Burruna-3 is located in the southern Cooper-Eromanga Basin within the Fury JV block of PEL 115 (Orca 20%, Senex Energy 80%) -
    refer Figure 1.
    After running the completion, the well was briefly flowed to clean up and remove drilling and completion fluids. The well quickly produced oil to surface and samples of the oil have been taken for crude oil quality testing. Production testing is planned over the next few weeks to determine free flow rates. Surface facilities are now being constructed and a flowline connected to the Burruna EPT Facility. Successfully bringing oil to surface from the Birkhead Formation is significant to Orca as it confirms the discovery made in November last year.
    The Burruna-3 well was drilled in late 2013 to appraise the discovery of oil in the Namur and Murta formations by Burruna-2 and an additional zone was discovered in the Birkhead sandstone reservoir. The Birkhead sandstone is excellent quality reservoir and is expected to produce very strongly. To date Orca has only classified the oil in the Birkhead as contingent resources. The flowing of oil to surface and installation of longterm production facilities will allow Orca to reclassify the discovery as developed producing reserves. The Birkhead production will provide strong cash flow and rapid recovery of the cost of the well and facilities.


    I have to concur Spec' regarding your assertion that 3D will not ensure hydrocarbons are found but I reckon I'll settle for 90% success any day.
    For sure it has to be better than 101 dry wells in a row under the reign of 'Dry Hole John' Kopcek at Vic Pet'.
 
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