Net pay in Amistad (1, 2 and 3) in Alameda 2 is nearly 6 x greater than that recorded in Alameda 1 (100m v 600m), taking fracture porosity into account, using formation image log data. People can work out what that means for themselves. Its massive.
The oil is heavy, but it flows.
Unit 1A will need to be pumped (we knew that already).
Unit 3 flowed at 750 bbl/day unassisted. 1.5 psi/metre. The flow was controlled by a 2 km water cushion in the tubing (safety measure to prevent uncontrolled flow and formation/well damage). The water cushion was almost displaced (8.5 m3 out of 10 m3 ) by the oil flow into the well.
No water flowed into the well from the formation.
Unit 1B we dont know, until they test it.
Unit 2 we dont know, until they test it (being tested atm).
Theyre saying basal (bottom) section of Units 2 and 3 have the most fractures.
DSTs taking longer than expected.
Its like living in a resort serving all you can eat oysters and lobster and champagne ...its 10 am, on my first day. I have a week to go (Alameda -3).
MAY Price at posting:
10.5¢ Sentiment: Buy Disclosure: Held
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