MEO 0.00% 0.0¢ meo australia limited

One of the two wells I rotary drilled to 450m and set BOP...

  1. 6,650 Posts.
    One of the two wells

    I rotary drilled to 450m and set BOP control pipe.

    Then cored to TD at 2,500m, obviously smaller core diameter as we drilled. TD diameter was 3 3/4 inch which if I had found HC I could run in DST tools.

    Top drive rig with 5,000 bop.

    If I was drilling in Cuba the biggest unknown is

    1, Do they have a valid trap as the seismic coverage is poor and poor quality at target depths.

    2, Do they have a reservoir and is there movable oil?

    Conventional rig to drill to 3,500 m including mob/demob for one well would be say USD 20 million, assuming zero good rigs in country.

    Slim hole rig with capabilities to drill to 3,500m say USD 6 to 7 million or less per well.

    My last well in WA including 350 km road, air strip, camp, mob/demob etc AUD 4.125 million and that was only a few years ago.

    So if I was running MEO I would plan to drill my best five prospect with slim hole and if I prove up movable oil then come back with the much more expensive option.

    At least you would then know if the permits has any merit.
 
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