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klaas

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05/10/18

14:50

Post #: 36013869
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Originally posted by psi81 ↑

Yes, it's massive, although your BOE calculation is 1000x too high, it's 2480 boe per day. It's about 14 TJ/d - in other words basically as much as the entire rest of the field combined. They seem to have drilled into virgin reservoir, a separate compartment in the PV field, which was of course the hope.

The big unknown is whether this is a well-developed network of fractures like in the rest of the field. I have known plenty of wells in tight, fractured reservoirs that have flowed >5 MMscfd on test, but then blown themselves out in month or less because they are only tapping into a very small fracture volume.

But PV is a geological anomaly in that it comprises an excellent network of intersecting, perpendicular fractures, which has allowed the field to produce long-term. It's nearly depleted now so finding flow rates this high basically indicates a separate compartment, which obviously isn't connected to the rest of the field. We'll have to wait and see how big, but if this rate is sustainable it'll be a fantastic result. Plus it's 100% CTP so Mac doesn't get a jot of it!

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Hi psi81,

Thanks for your much appreciated assessment of our latest drill results. It has been a long wait for some positive news. I look forward to the next update which should clarify any problems. Until then I will remain optimistic . Good Luck to all. Klaas

CTP Price at posting: 15.0¢ Sentiment: Hold Disclosure: Held
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