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1.4¢ galilee energy limited

Ann: Glenaras Gas Pilot - Gas Production Update, page-32

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pakkham

13,301 Posts.

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12/02/21

15:19

Post #: 50938174
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Originally posted by Whatsuuuuuup: ↑

100% agree with you @7seven7.

Ok the well capex may have been a little high. I was using this based off the Jaws well STX drilled in the cooper which was deeper and cost about $9m. Also GLL have clearly stated over $100m has already been spent on this project. From what I can see, there is only 11 wells, but also some of this expenditure would have been allocated to Seismic and other costs. lets assume $10m was spent on seismic and other costs, then $90m/11 wells is where I got my $8m from. I think the $1m you say is right for SXY drilling shallower wells in the Surat @Al99, but I would suggest this is a little low for GLL wells at Glenaris.

Secondly - STX was targeting 11Tcf potential in the cooper, however the well they drilled resulted in water dropping to 240bwpd but critical desorption pressure was never achieved and they ran that pilot for two years. How long are you willing to wait to hope this will be achieved for GLL?

And @ekulekulekulyou clearly don't expect the 1500PJs of 2P gas, as well as the 2C is all going to be drained from these 11 wells? come on!!!!

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what what what you try to prove
Mr WhatsUp.??
be in it
to talk about it..
i keep learning..and I am happy with it

GLL Price at posting: 81.0¢ Sentiment: Buy Disclosure: Held
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