A 17m gross pay section with good oil shows is similar to the oil zone found in the Snatcher/Charo field and from the announcement appears to be at the same stratigraphic level. Log analysis will attempt to measure the net pay (thickness of rock capable of flowing oil at commercial rates) but a test is useful to confirm the log interpretation.
The net pay can then but used in conjunction with the seismic interpretation to estimate the volume of oil discovered (net pay is height and seismic used for area).
The commercial viability of the discovery will be uncertain in the short term but the result is of course much more encouraging than a dry hole.
Things to look for in the future: test results, is the well cased for the future, how soon is a followup appraisal well announced.
- Forums
- ASX - By Stock
- SXY
- Ann: Monthly Drilling Report - February 2017
Ann: Monthly Drilling Report - February 2017, page-5
-
- There are more pages in this discussion • 3 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 SXY (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
1CG
ONE CLICK GROUP LIMITED
Mark Waller, MD
Mark Waller
MD
Previous Video
Next Video
SPONSORED BY The Market Online