Hi Red
I have been working on decoding the announcement, from what I conclude the 4 barrels in the stock tank stands, also acknowledge it is a calculated number as stated by 88e, IMO as the stock tank gauge is not sufficiently accurate to make such a fine measurement
Looking for a cross check from the 4% average oil cut and the managed fluid flow rate of ~170 bbl/d over the 16 hr oil cut period
170 bbls per day for 16 hrs, is 67% of 170 = 114 bbls total
114 x 4% average oil cut over the same 16 hrs = 4.56 barrels of oil
Its not a precise match but close enough for me, given the number of `~ approximates and possible rounding errors, ie is the 4% a rounding of a lesser number say 3.6%, or the 4 barrels a rounding of 4.4 bbls
On the N2 lifting, I would not say that indicates sluggish as such, more a lack of gas exsolving from the oil to provide natural lift. PANR used N2 lift in their SMDB flow test throughout the oil cut phase (5 days) and had the benefit of an average 45bopd contributing exsolved gas, with as GOR of 3000 to 4000scf/barrel of oil recovered. This PANR test has been the basis to model a successful production plan
4 barrels in the stock tank is the confirmation of sluggish though
Some are falsely assuming its OK because its only 20 ft of perforation, but the 20ft is just the start point of the fracture that may travel hundreds of feet in any direction, so tapping into hundreds of feet of reservoir, as per the pic below, from a PANR presentation, where the perforated section is the brown in contact with the casing
88E Price at posting:
0.6¢ Sentiment: Sell Disclosure: Not Held
(20min delay)