Hi ggwill,Yes, the reservoir quality and net gas pay in Vali-2...

Hi ggwill,
Yes, the reservoir quality and net gas pay in Vali-2 and Vali-3 is considerably better than in Vali-1ST1. Remember what VEN said in their announcement........"what is pleasantly surprising is the increase in reservoir quality and resultant net pay in the Patchawarra Formation for both Vali-2 and Vali-3 when compared with Vali-1ST1". We also need to take comfort from a gas rate perspective, in that Vali-1ST1, and most probably Vali-2 and Vali-3 have dual completions across both the Patchawarra and Toolachee Formations that would facilitate both individual and joint gas flow from the completion. i.e. possibly two gas productive formations flowing into the same well bore.

There clearly are some remaining commissioning hic ups with the new wells and new facilities, although these are not material in my view, otherwise there would have been an announcement to the market from a continuous disclosure requirement. Vali-1ST1 has been producing gas from a month now; if the well had died for whatever reasons, they would be compelled to inform the market.

I am comfortable with how things are tracking and patiently awaiting news.


Kind regards OldGeo