In my opinion, I think we will get positive news on the perforating job on Tuesday next week. My view is based on what NWE reported on February 23 where they planned to perforate Lockyer Deep-1 to a "desired level of underbalanced". Perforating the lineror casing in underbalancedconditions, is wherethe hydrostatic pressure inside the liner or casing is designed to be somewhat lessthan the reservoir pressure. When the perforations are made in underbalanced conditions,there is a tendency for the reservoir fluid to flow into the wellbore immediately after perforating. They probably decided to perforate in an underbalanced state, to remove any formation damage created by the perforating process, and/or any formation damage that resulted from the "drawn out" cement job.
I think after perforating, they had a rapid response on the surface pressure gauges which has provided an initial indication of how well the perforations are connected to the Kingia Formation and hence potential future reservoir deliverability.
Just my view. Bring on Tuesday.
Kind regards OldGeo
NWE Price at posting:
3.7¢ Sentiment: Buy Disclosure: Held
