worrior 8 announcement, page-27

Ok, I wanted to do some reading on the story of the Worrior field...

Just a couple of points -
Worrior#1 had a peak rate of 5400 bopd. Impressive.
Since then 6 more wells have been drilled in the field. All with varying degree's of success. All hit hydrocarbons, but to differing layers/levels/depths etc.

COEs update on Friday, was as others have said. A nothing update, as of course they were going to find the field. The 3D seismic has been done years ago.

What interested me in particular, was SXY mentioning that 2 wells will be drilled, where is Worrior#9 going to be, and COE mentioning on the 24th of June, that the Murta formation might be tested for later fracture stimulation.

I have been theorizing with some research, that many Cooper Basin wells could be re-entered with fracture stimulation to enhance/increase the recoverable reserves from old/current wells. The Cooper Basin has literally hundreds of wells and fields across it. Like in the U.S many small/medium oilers have over the past couple of years successfully re-entered with horizontal wells.

At a guess, this is partly why SXY is going back to Worrior, its reserve was 3.4 mboe. They have produced 3.7 mboe, but thats from a total resource of over 9 mboe. If they are able to increase the recoveries by just 10%, that could be almost 400k boe. At current oil prices, you are looking at $40 million in revenue. Worth a look.

This is all my own OPINION! please DYOR.

In the end though, the well may find no moveable hydrocarbons, so for now, my expectations are very low.

Link to all the info:
http://www.asx.com.au/asxpdf/20130711/pdf/42h0621hkgpsr6.pdf
http://www.asx.com.au/asxpdf/20130624/pdf/42gmtndvsshp92.pdf
http://www.asx.com.au/asxpdf/20130624/pdf/42gmqnfpq9htkr.pdf
http://www.asx.com.au/asxpdf/20100721/pdf/31rfcddnjj5wj3.pdf
http://www.asx.com.au/asxpdf/20040913/pdf/3mtj8mxb8zj0q.pdf
http://www.asx.com.au/asxpdf/20031125/pdf/3jwhsh7d2f5lg.pdf
http://www.asx.com.au/asxpdf/20031008/pdf/3j9m0cthg6l5d.pdf