Hi All,
For those interested just Posting my review of ASX 17/3/23 with respect to general comments and the Mukuyu-2 well.
Slide 1:
1. SM mentions light oil ahead of gas-condensate - possibly a subtle change in his thinking / priorities?
2. Context could be interpreted that the potential for light oil in the Pebbly Arkose is strengthening?
3. The intersection of the Lower Angwa sequence is not mention, as a Mukuyu-2 priority, as it has been mentioned on occasions in the past.
Not too surprised with this based on SM mentioning in the Webinar 3/1/23 that "Upper Angwa is much thicker than anticipated...looking at seismic data have the possibility of a further 500m to 600m beneath as well" i.e. beneath the Mukuyu-1's 3923mMD TD depth.
IMO, I would be quite happy for IVZ to NOT have as a priority the intersection of the Lower Angwa in Mukuyu-2. I'd very much like to see the well drilled in the most execution risk reduced way as possible focusing on the importance of pressures and fluid samples from the Pebbly Arkose & Upper Angwa, and forgo the Lower Angwa - leaving it for a later appraisal well.
Slide 2:
An updated depth schematic for Mukuyu-1 with gross hydrocarbon columns and thicknesses.
GLTAH
Cheers
VOGC
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