Had a quick look at the lundin site exploration program the other day and from what I can recall they have so far drilled two wells. One was dry one was successfull. Balqis 1 is ongoing as you can guess. I really hate the uncertainty of deep drills. 2.3 kilometres down is a heck of a distance to drill. I can't even run 2k's. How good is the siesmic testing nowadays. Lundin have so many drills planned they can afford failures. I see that most investors appear to be hanging on. Friday afternoon I think will test a few nerves. In the interim I keep reading the below extract, even if the geologist phrases lose me.
The Balqis-1 exploration well plus Boni-1 sidetrack is located along a prominent NW-SE trending wrench fault system located in the central part of the PSC. The structural trend is located immediately west of a deep graben interpreted to contain mature oil prone syn-rift source rocks. The play concept being tested by the two wells is analogous to the producing fields in the adjacent Kakap PSC.
The Balqis-1 exploration well will test the oil potential of the primary Upper and Lower Gabus Formation sandstones in a 3D defined structural closure. Estimated prospective resource potential for the Gabus Formation reservoir objectives are 47 mmbbls (best case, gross, unrisked).
The Boni-1 Prospect will be drilled as an exploration side-track from the Balqis-1 wellbore. The objective of the Boni-1 well is to test the oil potential of the Lower Gabus Formation where it onlaps the Balqis Basement high and forms a large stratigraphic trap. Estimated prospective resource potential for the Lower Gabus Formation reservoir objective is 55 mmbbls (best case, gross, unrisked).
- Forums
- ASX - By Stock
- NDO
- Ann: Balqis-1 Drilling Update
Ann: Balqis-1 Drilling Update , page-28
-
- There are more pages in this discussion • 26 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add NDO (ASX) to my watchlist
(20min delay)
|
|||||
Last
92.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $209.8M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 55739 | 85.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
92.0¢ | 21270 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 55739 | 0.850 |
1 | 4000 | 0.810 |
1 | 40500 | 0.800 |
1 | 663 | 0.755 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.920 | 21270 | 2 |
0.970 | 19999 | 2 |
1.010 | 989 | 1 |
1.050 | 115000 | 2 |
1.090 | 50000 | 1 |
Last trade - 16.12pm 02/08/2024 (20 minute delay) ? |
Featured News
NDO (ASX) Chart |
Day chart unavailable