estimates

Did a quick calc on the estimate for 1N-SE1 & thought i'd share it. This is how the scenario generally works.

Pre-drill estimate of 5.4MMbbls was derived using data such as porosity, formation thickness, water saturation & field as seen in nearby wells.

Post drilling what has emerged is the formation thkness, porosity from the logs & water saturation.

1) Area of B430 is about 29.3sqkm. The well was drilled in the NW sector & covers about 4.5 sqkm (or apprx 1112 acres).
2) Thickness ann'cd is 143m
3) Recovery factor 20%
4) Assume Porosity of 20%

Porosity in fractured basement is very high since its not pore space we r dealing with but cracks/fractures controlled by the area tectonics. However I'll stick to 20%. Using the the above parameters we are looking at apprx 29 MMbbls oil in place.

Note that we didnt know the thickness until the last ann'mnt & I've assumed 143m to be consistent across the apprx 4.5 sqkm size of the field (as for the field size, page 32 of the mercury shows this & the blocks can b downloaded from the ANP site should u wish to do yr own calcs).

Also worth noting is that when they flow the well, the rates will b high due to fra'cd basment. Should b interesting to see how this pans out in the next couple of weeks as they still need to get the work-over rig across for the perforation.

I did my research on this one & thought of sharing this.

For those interested in fr'cd basement flows etc u can chk out CVN although a different tectonic province (thailand - Volcanics) but good results coming from the wells drilled there.

cheers