I think the fact that the well can produce fluid at 300 bpd is very encouraging, if it's coming from above the oil-water contact (which I guess it is, otherwise they wouldn't be mentioning it). I would not expect too much negative deviation from this number after the drilling fluid has been cleaned up from the well.
With respect to acid treatment of the formation, this will be dependent on the composition of the reservoir rock. I'm told by a knowledgeable person in the business that such a treatment will only work if the rock still contains enough limestone. But if much of the calcium in the limestone has been replaced by Magnesium (forming dolomite), acid treatment is unlikely to yield significant improvement in porosity.
From Wikipedia:
Dolomitization is a process by which dolomite is formed when magnesium ions replace calcium ions in calcite.
Limestone is a sedimentary rock composed largely of the minerals calcite and aragonite, which are different crystal forms of calcium carbonate (CaCO3).
I'm not a geologist, but I think I have this pretty much right.
BRU Price at posting:
$1.15 Sentiment: None Disclosure: Held
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