'We don't need anything like complete dewatering to commence the...

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ekulekulekul

372 Posts.

47

04/02/20

21:31

Post #: 42745970
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Originally posted by OilGasPlanning: ↑

gadgetman

Clearly this is a very difficult question to answer and one which I avoided even asking at the AGM.

As a fellow poster though, I will attempt to give some sort of an indication but I need to preface it first:-

Galilee are rapidly building a portfolio of CSG tenements so there is considerable value in the portfolio regardless of the outcome of the Glenaras Pilot.

The sketch below is a typical aggregated gas curve from real life but in different coals. and as you can see from the year markers on the X axis dewatering is a continuous process and takes a considerable time but water rates drop off rapidly during the early stages.

Since the 15L pump is much larger than the original IMO the water ingress problem should now be down to an acceptable level admittedly after a bit of trial and error but that's what pilots are for..

We are now past the Desorption point and the water rates are on the decline and gas rate is rapidly recovering to pre shut in levels.

This is a pretty healthy result IMO only 4 weeks after the latest startup following the 15L pump replacement.

We don't need anything like complete dewatering to commence the reserve certification process.

So...

It's a probability bell curve but my guess and I stress guess, it that things will start to get really interesting with regard to initiation of the reserve certification process over the next 12 weeks.

Regards

OGP

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'We don't need anything like complete dewatering to commence the reserve certification process.'

It seems management are not satisfied with 80% dewatering, when do you think they will be able to book reserves and would you imagine this might fall before the end of Feb as you previously guessed? Also I appreciate your comments regarding GLL's other tenement's as I believe they are being overlooked in the price fall

GLL Price at posting: 56.0¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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