Just to come back to this Acid Treatment because it may be...

Just to come back to this Acid Treatment because it may be important for us on how to understand next week’s announcement. We are now in the “critical” stage of this well, to test the fractures.

Fracking V Acid Stimulation … or both ?
I have check the old news / plans by Cooper, but they never say Fracking or Acid, just that they are going to “test” the fractures.

Any comments?


Fracking
Normally drilling 600m horizontal (excluding frack time) should take less than a week. However here they are going to be testing fractures either,
a/. as the drill, thus it will be stop / start etc and may take 3 weeks for 600m or
b/. they drill the full 600m and then work backwards test each fracture

Hopefully they will have done 1 frack by next week, but I doubt if they will have done a frack by then.
Any comments?


Acid Stimulation
This I know nothing about. Saw lots of articles posted here about how it works, and it looks very good, but how long does it take?
It has got to take more time than Fracking. The acid has to be allowed time to work into the fractures to create channels to release the oil.

If this is the actual plan, I have a feeling they have to let the acid work for a week before they go back to that section and test for flow rates? … so we are not going to get big news next week.

Any comments ?





AOB re Dragon
Dragon are not going to takeover any company, its not their style. They much prefer buying an asset (not a company) and working the asset. It’s a Middle East mind set. Thus IMHO they will look to buy this block now that Cooper has declared their position and it’s a good size block in an Arab country near Europe. Dragon could easily spend $350m here if they stepped up the exploration, so they need their cash for assets not takeovers .

AOB re Jacka Tunisia
I have to admit this well has been a nightmare so far. But they have done a lot of homework this week, (not much drilling), but I think they are full prepared now. I suspect Dragon reassessed all the plans and are lending a lot of expertise to this Horizontal section.

So this Horizontal section will be slow and careful, everybody want a result. Cooper know they have to get a good result for Dragon, and Dragon will want as much info as possible to help them assess the whole block. And it looks like Cooper and Dragon are paying for these delays as part of their Due Diligence. Over the last 4 weeks, with all the awful delays, Jacka have confirmed every week that the well is going to cost the same at $44.8m.

Good hunting and take you time