I think the bigger point is how is net pay cut off determined...

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Davy Boy

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06/01/24

10:47

Post #: 71753946
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Originally posted by Kiwigeo8339: ↑

"Could the reference in the announcement to "primary logs" mean something different to Quad Combo (or refer to logs which wouldn't calculate net pay)"

Primary logs usually refers to a basic log data set required for log interpretation - ie GR, Res, Sonic Density/Neutron and caliper.

Not that when logs are run at a nominated hole depth log coverage wont extend all the way to TD due to offset of each tools sensor from bottom of the tool (the usual reference for wireline depth). If FMI or other pad type tool is on bottom of the tool the tool will usually not tag bottom due to risk of damaging pads.

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KG I think the question DynamicScott is asking can they give a net pay number from primary logs OR does it require other logging?

Originally posted by DynamicScott: ↑

I think the above webinar passage unequivocally means that the the current net pay does not include MK-2 from ~3500ish to TD.

So that would mean that 21 metres of net pay in the Lower Angwa comes from about 400 metres between the start of the Lower Angwa at 3100m down to 3500m. From that perspective, the net pay is about 5% of the Lower Angwa logged so far - (21 divided by 400m).

What interests me, like VOGC and I said above, is how much of that 21 metres comes from the overpressured zone between 3,360m - ~3,500. If the 21 metres came from that section alone (best case scenario perhaps) then the net pay is about 15% (21 divided by 140m).

Putting it another way, the net-to-gross figure based on the overpressured section might be much higher than the net-to-gross for the whole of the Lower Angwa logged to date.

Accepting I've been overly optimistic about this stock in the past, the evidence still suggests to me that the deeper Lower Angwa drilling is highly probable to at least double the current net pay and maybe increase it by something like 100 metres. And it will flow. As Kiwi pointed out, the Lower Angwa is the Massive Member and we have the overpressure/kicks etc. SM himself said it will flow.

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I think the bigger point is how is net pay cut off determined from so little information?
It must be a very very conservative approach.
Can an O&G person elaborate?

IVZ Price at posting: 12.0¢ Sentiment: Hold Disclosure: Held
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I think the bigger point is how is net pay cut off determined...

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