kindly quote completely what is written in additional...

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globetrotter86

876 Posts.

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16/08/21

16:05

Post #: 55327786
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Originally posted by olderwiser: ↑

A skilfully crafted update, no doubt. Very vague on the things that matter, like, is it likely to have sufficient oil, that flows fast enough to be worth developing.

Merlin 1 continues to line up with the description mediocre. 88E has shown Merlin 1 may be a pointer to where oil may be economic, but it remains in prospective resource category, despite having been drilled logged and sampled. As a minimum it should have now become a discovery, but has not been credited with this, in this announcement. It is a substantial word, if it is missing there is a reason.

41 feet of net pay distributed over 3 reservoirs is on the poor end to start with, then locate it so far from infrastructure and it will not be viable.
No porosity or permeability reported, and they have the data, without this vital information, flow rates are also in question.
VAS data is also in, but no mention on this, mobile hydro carbons great, VAS tells how mobile
Although it is encouraging to see mobile hydrocarbons in the update, there is nothing to predict flow (porosity, permeability, overpressure), why not ?
Then this gem in the additional information related to Merlin 1
“Fluids recovered via down hole sampling, from 3 Lower Grandstand units has confirmed, through laboratory analysis to be primarily water”

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kindly quote completely what is written in additional information... telling half the stuff anyone can skew the information especially if one only reads the bold part and not your partly quoted part.

Fluids recovered via downhole sampling from three Lower Grandstand units has
confirmed, through laboratory analysis, to be primarily water, though carbon isotope analysis of
these fluids deemed the respective source rocks to be in the oil window. Note: the most prospective
zones in the Merlin-1 well, namely N20, N19 and N18, were not able to be sampled due to
operational issues.

88E Price at posting: 5.2¢ Sentiment: Buy Disclosure: Held
5 Upvote

1 Great analysis

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