Thanks Ya, What do you think their triggers will be to determine...

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mrposhman

1,661 Posts.

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28/01/23

16:20

Post #: 65925000
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Originally posted by Ya: ↑

I dont think they'll go deeper than the original well. Their aim is to suss out OWC, Pressure continuity & reservoir quality 2kms to the SW. The sands r at an angle due to the salt dome piercing thro the layers & so may b offset by a local fault. That's what they need to get a handle on. As long as the Paleocene sands r thick like E#1 & Oil bearing they should b fine. The 2 Cretaceous sands, if they sit above the water contact, will b an added bonus. They should have run the tophole casing above the Eocene and then tested the BOP prior to drilling to the Paleocene target.

It took them around 12 days to TD Echidna-1 (TD 2379m), and then another week to get the WL logs & sidewall cores etc. Once they collect all the necessary info (ie pressure, resistivity, Gas oil ratio, fluid samples, poro, perm et al), then that should b enough sub-surf data to validate & fine-tune their current Resource Model for the field.

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Thanks Ya,

What do you think their triggers will be to determine whether they decide to tie Neon back in to Bauna or go it alone with a standalone development?
Will it be based purely on Neon right now, or if Neon comes in better than expected (lets hope) maybe thats the trigger with the surrounding opportunities that could really maximise the value of the additional FPSO?

I'm assuming it will be based on maximum demand for the FPSO, so in theory if they think Neon as it stands can provide circa 28k bopd (that was the initial prognosis back in 2015), but if the surrounding finds may take that above say 50k, does that indicate that their target will be around maximisation and therefore choose the FPSO scenario?

KAR Price at posting: $2.42 Sentiment: Buy Disclosure: Held
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0 Great analysis

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