PCL 0.00% 1.6¢ pancontinental energy nl

Sell off, page-57

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    MidDig & OldG

    PANR (see OEL) is drilling a turbidite fan at the moment in Alaska. The first well showed 1.000 m (I do not remember the exact number but it was big) full with oil shows. They perforated some ft only to get 50 bbl/d. So PANR is drilling a second well , hoping to find in the upper part better permeabilties and flow rates.

    What I want to say: I do not think that the whole super fan in Namibia has to be filled with hydrocarbon. It would be already a success if the upper part of the fan (where you had the higher velocities during sedimentation) is full of HCs. In this case I would not care if the lower part of Saturn is full with reservoir water. And than you wont need this high numbers for the source rock neither?

    It will take some time and more drilled wells till the oil companies can crack the code in Namibia, as Exxon has done so successful in Guyana.

    But of course, it would be a game changing investment if the whole super fan is full of oil and gas up to the spill point.

 
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