Ann: WE4 Results Extend West Erregulla Gas Field, page-164

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OT1961

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20/04/21

15:52

Post #: 52597025
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Originally posted by psi81: ↑

Happy with that. Seems to be not quite as good as WE-2 and that average porosity figure is a bit low but at this sort of pressure that shouldn't matter.

WE-2 Kingia was 42m net pay at 14% average porosity
WE-4 Kingia is 28m net pay at 11% average porosity.

14% porosity is usually safe for a conventional play, 11% porosity can have a wide range of permeabilities depending on other factors like grain shape and sorting, but I think it should be fine in this particular play. WE-2 had permeabilities up to 102 mD, Even average permeabilities in the range of 1-10mD here should produce a barnstormer of a flow test.

Sounds like they are running a formation testing tool (which I will call MDT even though it may be a competitor's equivalent) prior to completing for the flow test. Hopefully we will get some permeability information on that, on the current report I think it will flow less than WE-2's Kingia test but should still be in the 10s of MMscfd.

Does anyone recall the tubing size they are using for WE-4? Is it 5-1/2" like Waitsia 4? If average permeability is in the 10mD range then with larger tubing size it could still manage to beat WE-2 as WE-2 was constrained by tubing size.

All in all a fantastic result - extends the lowest known gas which will increase the volumetrics, and a well result that proves WE-2 wasn't just a one-off. Plus, compared with WE-2 and WE-3 they have drilled this well almost entirely according to plan with zero problems, which significantly increases my confidence in the ability to get the field developed on time and on budget.

Now bring on the flow test!

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STX have stated that the reservoir is connected hence the down hole pressure is the same as WE-2. If this is the case why would the flow test be significantly different?

STX Price at posting: 33.0¢ Sentiment: Hold Disclosure: Held
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