market cap under $150 mill !! ???, page-69

psi81 old chap,

i do not believe that the vertical intersection of the stairway in surprise-1 was ever flow tested. a 9m core was cut in 2010, and it was while attempting to take fluid samples from this cored interval that the rig incident occurred and the well suspended. analysis of this core was reported in a number of asx releases, namely surprise-1 core results(3feb11), exploration and strategy update (p13, 18may11),short term valuation and exploration update (p16 slide14, 22july11) and numerous subsequent asx releases. what was reported was an assessment by independent consultants rps energy that the rock properties of the core suggested the cored interval could be capable of 970 bopd on pump, 420 bopd natural flow both estimates for a vertical well.
when the well was re-entered in late 2011, a side track was drilled and the well completed with a fairly short lateral pseudo horizontal. on test just under 400 bopd was achieved on free flow. this is remarkably close to the rps estimate for a vertical well on free flow which kind of begs the question as to just how effective the horizontal completion actually was.
trust this helpful.