Like everyone else, I have been trying to figure out what they are going to do next.
Statement from Adrian:
“There is great potential within this basin for significant hydrocarbon volumes to exist as I have referred to on numerous occasions. These results provide Carnarvon and its partner with enormous blue sky potential and a platform within the Phoenix South and Roc area in which to test and develop this potential.”
So it looks like they want "One Platform" within Phoenix South and ROC areas.
Any way, I went back to past press releases to try to find clues and found this diagram at the Good Oil conference.
![]()
IMHO, this could be the clue of what they want to do next.
Note the question marks (??) at both PS1 and ROC2.
Well, now we know what is in ROC2 (the question mark in the red section)
But what is question mark (?) at PS1.
Will it contain gas and condensate that we could use to pump the oil in the Barret sandstones (4 columns of green)?
And is it also a trap?
Guess they will know whether it is a trap based on their 3d seismic.
But we will need to drill another hole to find out if gas and condensate are trapped, under PS1, in the Caley sandstone.
And if we find condensate and gas, it will be extremely valuable to our whole project - we could extract the condensate but re-inject the gas back into the oil field to extract as much oil as we could, economically.
Lets remember this; Apache had originally estimated (and Finder agrees) that there could 300m barrels of oil in place, but due to the lower porosity (6 to 8%) and average permeability (10 to 100 md), DeGolyer and MacNaughton had estimated we could Only recover 19M barrels.
But with gas injection possibility, we could increase the recovery at PS1 to 30% of the Oil in Place of 300M - well, at least I hope so...lol
Any way, that would equate to 90M barrels of oil, and in today's price of oil, equates to $4.5 billion USD on the oil alone (not including any condensate there) and our share would be at least $900M USD.
Good money...
So, IMHO we will conduct a PS2 before Dorado.
- Forums
- ASX - By Stock
- CVN
- Ann: Historic Bedout Sub-basin Flow Test-CVN.AX
Ann: Historic Bedout Sub-basin Flow Test-CVN.AX, page-153
-
-
- There are more pages in this discussion • 54 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 CVN (ASX) to my watchlist
|
|||||
Last
15.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $277.3M |
Open | High | Low | Value | Volume |
15.0¢ | 15.5¢ | 15.0¢ | $99.67K | 646.5K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 256723 | 15.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
15.5¢ | 1330643 | 12 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
4 | 256723 | 0.150 |
11 | 578195 | 0.145 |
8 | 592228 | 0.140 |
2 | 437000 | 0.135 |
3 | 406730 | 0.130 |
Price($) | Vol. | No. |
---|---|---|
0.155 | 1015778 | 9 |
0.160 | 941807 | 11 |
0.165 | 369060 | 8 |
0.170 | 828942 | 14 |
0.175 | 792726 | 8 |
Last trade - 16.10pm 30/08/2024 (20 minute delay) ? |
Featured News
CVN (ASX) Chart |
The Watchlist
CCO
THE CALMER CO INTERNATIONAL LIMITED
Anthony Noble, MD & CEO
Anthony Noble
MD & CEO
Previous Video
Next Video
SPONSORED BY The Market Online