Overall I think the announcement is OK, it could have been worse.
Even at ~6000-8000 boped it looks like it is going to need horizontals IMO. Shouldn’t be too hard given the shallow water and reservoir depths... although I am no expert.
Otto Energy’s 33% Galoc Field in Philippines did two horizontal wells and subsea insatalation to upgrade and existing FSPO operation for a total of ~$180 mil in 2013. Each horizontal well only flowed (as anticipated) at an initial ~6000 bopd. These two wells only gave a 2P reserve increase of 11 MMstb and extended the field life for ~5 years at ~10000-12000 bopd. The program was deem a success (oil was above $100/b) and OEL are about to or have just sold their 33% for ~$100 mil.
Based on the Galoc field its hard to believe that two or three horizontals at Kanga flowing ~10000 bopd each with 2P reserves of say 70 MMb is not commercial. It might need oil to be above $80... but that could be a matter of time...
Ann: Kangaroo-2 Progress Report No 6, page-49
-
- There are more pages in this discussion • 42 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add KAR (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$1.44 |
Change
-0.035(2.37%) |
Mkt cap ! $1.155B | |||
| Open | High | Low | Value | Volume |
| $1.46 | $1.50 | $1.42 | $13.09M | 9.105M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 41980 | $1.43 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.45 | 29685 | 3 |
View Market Depth
| Last trade - 16.10pm 11/09/2024 (20 minute delay) ? |
| KAR (ASX) Chart |