PCL pancontinental energy nl

General Thoughts, page-7737

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    Great interpretation OldGeo

    What could that mean for the permeability range for Mopane and the Saturn prospects?

    My second big question: what does it mean when an oil company says "good"???

    Shell block:
    Shell announced a “Significant Oil Discovery” at the Graff-1X in February 2022 in Upper Cretaceous marine sandstone
    March 2023, NAMCOR said the Jonker-1 was “a major light oil discovery that will be appraised”


    Reality: The permeability of Jonker is 0.7 mD and Shell has written off the whole block.

    Total Block
    February 2022, Total announced a “Giant light Oil and Gas Discovery” in the Venus-1X, Africa’s largest ever SubSahara oil discovery
    ...encountered 84 m of net oil pay in good quality Lower Cretaceous reservoir


    Reality: Permeability is 2-4 mD. According to industry reference, a reservoir with permeabilities between 2 and 4 mD is classified as poor and not with good quality. A reservoir with 100-500 mD is classified as good. (In my opinion: conventional oil reservoirs which have a permeability in the Darcy range (not mD) are good). And Total has delayed the FID for the Venus FPSO.

    Galp block
    Galp published: The Mopane-1A well encountered light oil and gas-condensate in high quality reservoir-bearing sands, once again indicating good porosities, high permeabilities, and high pressures, as well as low oil viscosity characteristics with minimum CO2 and no H2
    S concentrations.

    Whats the GALP reality now: does it mean that the permeability is high compared to the 0,7 mD from Shell or the 2-4 mD from Total, Venus.
    Or does it mean high permeabilities according to the classification and that means above 500 mD.

    I am not sure because some AOI investors think that they have some hints that Total tested with around 15.000 bbl/d in Venus.
    Galp tested Mopane with 14.000 bbl/d (constrained) But that would mean that permeability is in the range of Venus and with 2-4 mD according to the classification just poor.

    Any opinions?

 
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