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Ann: Mukuyu-2 evaluation update & preparing for flow test, page-86

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Hersheys7

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30/07/24

10:39

Post #: 74977335
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Originally posted by Grfe4: ↑

@huaneng. The general consensus is that M-2ST isn't at the optimum location. We were expecting massive sand bodies in the Lower Angwa, but the top section of the LA at the current location has to be better elsewhere.

One of the biggest mistakes was to not complete a 3D seismic survey prior to drilling M-1 (or a partial 3D survey over a limited area of interest e.g. 50% including the south, central and northern fault blocks). M-2ST is probably at the periphery of a lacustrine or fluvial sand feature, and so I agree with you, drilling blind has meant the sands at M-2ST are lower quality in terms of thickness, porosity and permeability.

Compared to the cost of 2 wells, and each necessitating a sidetrack, 3D seismic would have been a fraction of the total cost. Big opportunity missed, yet even in the latest presentations the 3D seismic has hardly been mentioned.

It would be good to know the flow rate they have set for achieving commerciality?

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Given they are yet to continue drilling through the remainder of the Lower Angwa at this location how can you definitely say there aren't massive sand bodies in the lower angwa at MK2?

IVZ Price at posting: 8.7¢ Sentiment: Buy Disclosure: Held
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