Ann: Bauer-12 success with 2P Reserves Addition , page-14

re: Ann: BPT: Bauer-12 success with 2P Reserv... Cheers for explaining how BPTs initial estimates of Bauer were so off g12m0. I always wondered about that.

I totally agree about UBSs report. I actually think today's announcement by BPT was unusual. From memory, when the earlier Bauer appraisal wells were drilled, after each success, BPT did not mention actual 2P numbers for future upgrades. Perhaps, a large upgrade is coming and Beach has been holding off from announcing it... They have always seems tight lipped about anything to do with PEL 91.

The last upgraded occurred in August (which is based on reserves at 30th June 2013). The last Bauer appraisal well was Bauer 11 drilled in July/August, after the reserves upgrade. Yet I have been unable to find any mention by BPT regarding how much 2P that will added. Why the change, there is always an agenda.

At a guess, UBS was talking about an upgrade to the field because of the recent production rates and lower water cut. I have been expecting an upgrade, which I assume will come out with the half yearly next week?

Barney, this is what I could find, still a little rushed for time. This is from Santos, it does not show PEL 91, but as you can see in the other images, the deep coal extends into the tenement.

Sorry this image is low quality, best I could do. The colours are as follows in regards to the coals thickness.
(From Santos reports, they are already producing from the coals in nearby Santos tenements, but as yet, no flow rates from just the coals). This will be further invested by the new STO/DLS J/V in PEL 515 etc.

Light yellow - 0-15
Light blue - 15-40
Orange - 40-50
Red - 50-75

Then you have the wet gas.
I think I have more on this, but buggered if I can find it.
This is from a recent DLS preso.

Lastly, as stated in today's announcement, Bauer-13 well is to be drilled next. If you have a look at the map of the field. At a glance, Bauer-13 if successful, will also increase the field by a fair amount. So it will be interesting to see if BPT announce a 2P amount. Also interesting to see if BPT starts to just be clear about the true potential of the Bauer field.