The pot of gold at the end of Dorado, page-893

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02/05/19

20:21

Post #: 38383656
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Originally posted by Ya: ↑

Plenty of time to go. The true extent of the findings from these wells should b known later by Q3 or early Q4 this year. I hope they drill 3 Dorado wells instead of 2 as that should give them multiple points across the structure to tie into their static/dynamic models whilst calibrating the Caley sands. 3D Seismic is also planned so not sure about its timing.

Their first appraisal well should b in a downdip location as they need to suss out the oil-water contact (OWC) for the Caley. WL logs will confirm how net/gross pay, poro/perm & Oil saturation in that reservoir. So depending on how far this well is located downdip from the D1 crestal discovery one should get an update on whatever they've intersected.

The second well should b back on the crest where they should core the reservoir and do a production test to see what the flowrates are like. Very surprised to see 20% porosity, high oil saturated sands at D#1 at these sort of depths which is unheard of in the West, especially when the JV was looking for Gas.

Depending on the reserves booked, development should b a no brainer via long lateral wells these days. STO has drilled a lot of these in the adjacent fields so need to suss out how far the Caley runs out of Oil into water leg & plan future downdip water injectors accordingly in a few years time. They also need to know the gas oil ratio (GOR in scf/bbl) something that's not being mentioned by CVN, ie low GOR with Acquifer drive although i dont think there's a gascap here. Hopefully drilling should answer most of these Questions.

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Ya - you seem to have lot of info regarding D1 & D2, Wondering what about sussing out the oil pay in the deeper Crespin, Baxter and Milne sands (reported in CVN ASX release 8 Aug 2018). Baxter and Milne did not encounter any oil water contact so there is a potential to suss out the thickness of oil column downdip in D2 I guess?

CVN Price at posting: 45.0¢ Sentiment: None Disclosure: Not Held
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