Meaning of analogous (adjective) similar; parallel; comparable.
From the 02/03/11 CIG news release (selected portions of the report)
Following the interpretation, the Company is progressing plans to drill the West Mailisu #2 in May-June 2011. The prospect lies adjacent to the Mailisu IV oil field which has produced more than 42mmbbls of oil (see figure 1).
Structurally the feature is defined by a NW-SE trending reverse fault on the northern flank,” Mr Parsons said. Seismic sections across the structure indicate a robust closure (see figures 2 and 3). “The prospect could contain oil reserves of up to 9.7mmbbls, with mean potential reserves of 4.5mmbls calculated for the Eocene reservoirs. Gas reserves of 5-10bcf could also be discovered in the Cretaceous or Jurassic reservoirs”, Mr Parsons added.
Mr Parsons said the prospect was a large undrilled structure adjacent to a significant oil field, which if successful would make a significant impact on the Company’s Kyrgyz production. “Initial development wells in the adjacent Mailisu IV field produced at up to 600 bopd,” he said. “The well will be drilled by the Company’s own rig to a depth of at least 2,000m, testing the Eocene and upper Cretaceous sands.” “The well has been designed to enable drilling to be extended to test deeper reservoirs should good hydrocarbon shows be indicated in the upper zones.”
I appreciate GP never used the word analogous(that Im aware of),but he (I think) certainly inferred it,re his "“Initial development wells in the adjacent Mailisu IV field produced at up to 600 bopd,” comment.
Is GP been cautious and conservative in his "potential impact" bopd of 20-100 bopd? As we havent done a flow test how has he arrived at this figure?. Ive tried researching the Mailisu 1V well,but cant find any information about it,whats its API,or anything. I refer you to the 05/09/11 news release
To obtain an understanding of potential flow rates, which is required to size pumping equipment and facilities for the well, the services of a large air compressor is still required. A unit has been sourced from Kyrgyzneftigaz (the National Oil Company), and is expected on site early this week.
Nowhere in the 2011 financial does it say that the flowtest has been done,so I reiterate,is this 20-100bopd conservative,in any event one would think another two wells are likely in the area,withan acidisation programe as well things are looking better than they were 6 months ago. The loss of some of the permit areas is disappointing,but probably not unexpected as GP blew circa $17 million propping up the pru SP at our expence. How further advanced we would be if that lunitc event hadnt taken place,probably never know.
Raider
CIG Price at posting:
8.0¢ Sentiment: None Disclosure: Held
