BYE 4.17% 5.0¢ byron energy limited

Ann: SM58 G6 BP01 Well Logs Pay in the L2 and N2 Sands, page-116

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    Maybe giving their honest best estimates of the likely flowrates in the previous wells that nature has shown to have been optimistic has made them more cautious .
    They would have a best estimate but it would be part of a large possible range of flows .
    The sidetrack and the finding of better reservoir quality is a big plus for a decent flow from that zone but it is also a good reason to be very cautious about flowrates from that zone .
    The quality of that zone changed over a relatively short distance .
    There is uncertainty of the reservoir quality of that zone right down to the oil water contact that is required to achieve a good water drive .
    There is a lot of oil downdip from data from previously drilled wells but there needs to be a decent water drive for that oil to flow economically and that depends on reservoir quality both above and below the down dip oil water contact .
    Continuity of reasonable permeability between the well bore and the oil water contact and below it is necessary to produce the oil at a long term economical rate .
    The bottom zone is only one of three potentially economically producible zones they have penetrated in this well .

    Before the sidetrack the bottom zone appeared to have been a non productive zone .
    The sidetrack has lifted its status at this point to a probable economically producible zone well worth completing .

    As I have said before there is no certainty in oil well drilling and the roulette wheel is still spinning on this well but I still like the odds .

    I am supportive of them not giving flow rate estimates pre drill or pre actual flow rates .
    I am sure they were previously given in good faith .


 
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