Folks, My thoughts on the GWC and condensate/oil leg thing. 1. If they really had hit an oil leg (it is not condensate as by definition condensate is a gas at original reservoir pressures and temperatures) leg I am quite sure they would have drilled ahead to establish column height, oil qualities and producability. These are absolutely critical elements of a development plan and you need to know this stuff before you plan further. So I doubt they would have stopped for this reason. 2. Same for a GWc it is a critical piece of the puzzle and you dont stop till you know it, unless something stops you mechanically. You can infer the GWC by knowing the regional aquifer pressure and having a profile of spot pressures down the gas zone where the two lines intersect is your GWC....but this is never as good as logging the bugger. It also does not rule out an oil leg if you suspect one is there (as the gradient of this is different to the gas and water lines), so it introduces uncertainty which you dont want in your development plan. Again if nothing breaks you drill till you reach the GWC.
So I think they drilled the GWC and that it lies ca. 10m up hole from where they TDed. We will know soon when they release but that is my expectation. I hope I am wrong and there is oil or gas to the core of the earth here but I doubt it. cheers AO
MEO Price at posting:
23.5¢ Sentiment: Hold Disclosure: Held
