Double Yokers to West Of SNE2, page-10

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8horse

34,345 Posts.

9131

09/03/16

21:08

Post #: 17232179
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Originally posted by Ya ↑

As an operator one never brags in this game Mandurah as there can b hidden surprises lurking around.

Learnt a sobering lesson with Chinguettil, Tiof, LongTom & many others where the 2C resource was down graded by the Operators on the ASX.

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FWIW's the blocky sand was water wet at SNe-3, as expected as it dips deeper down south.

The comingled sands that were tested at SNE-3 were in the gascap at SNe-1 & are in the oil window at SNE-3. So this is the 'new' net pay for their modelling team. Again these new sands weren't tested at SNE-2 to the north. Get my drift.

Best case during field Development will b to stick a well centre (cluster of wells ie) in between SNE1 & SNE-2 & target the Blocky sand that flowed 8k bopd.

In someway though, I am glad that the API at SNE-3 is consistent 32 deg (or 0.865 gm/cc density) not 18, 22, 38deg etc.

The red zone (ie gascap) shown on FAR's update is apprx 96 to 97 sqkms (i couldnt b bothered digitising the field boundary to every nook & corner). So use an average 18-20m net pay for this area, 24% poro, 70% OilSat, 80% Shrnk, 30% RecFac. I think the 2C that was released by FAR recently may see the shredder, but lets wait watch. Someone would b busy uploading the model in Petrel or whatever they use inhouse these days.

Cairn have left downhole gauges at SNE-3, so will b interesting to see how the connectivity goes from Bella to SNE-3. Any pressure drops will indicate compartments (either by faults or sand pinchouts or shale baffles etc) & a recalc of the reserves. Hence the need to b absolutely sure with the interference testing etc.

Hope Woodside knew all that at Tiof with its 900 mmbbls OIIP, 2P-287 mmbbls gross which was subsequently trimmed down to 2P-100 mmbbls due to compartments over the structure.

Thankfully Cairn has the new swath of 3Dseis data that ERCE should incorporate in their model. So look fwd to the revised estimates on SNE-3.

PS: OOO, use y'r iPhone & save the Conference speech as a podcast file. That will b much appreciated.

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Data for this Tuesday will be available early Friday

FAR Price at posting: 10.5¢ Sentiment: None Disclosure: Not Held
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