MAY 0.00% 3.2¢ melbana energy limited

Ann: Block 9 Alameda 2 Appraisal Update, page-275

ANNOUNCEMENT SPONSORED BY PLUS500
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM
CFD Service. Your Capital is at risk
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
  1. 4,821 Posts.
    lightbulb Created with Sketch. 849
    The issue is that this first well campaign was meant to conduct a flow test and they still don't have any real flow rates at the moment. When are they going to get a "real" flow rate doesn't look like it in this well so the hope lies in the next well.

    AP's guess at flow rates from deduction is not proof that it will flow at a sustained rate over long periods of time.

    LR 5.30 (j) Oil did not flow to surface so no accurate flow rate can be quoted. Based
    on a displacement of a 64-barrel water cushion in a two-hour period before
    the well killed itself, an approximate flow rate of 750 bopd can be deduced.
    Choke sizes varied during the test. Initial choke size was 12/64”,
    increasing to 32/64” then 72/64”

    If they knew such a situation existed above they would have never conducted the flow test this way and would have planned on using pumps so I suspect MAY themselves are surpised also that the oil hasn't flowed to surface.
    Last edited by Gharp: 15/08/23
 
watchlist Created with Sketch. Add MAY (ASX) to my watchlist
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.