Vali-2 Toolachee Formation result.
I have posted the chart before, and have now added the Vali-2 net gas pay count of 24m of stacked pay. This is a very solid result as the net pay count is based on a porosity cut-off of greater than of equal to 8% suggesting that we have porosities similar to those encountered at Beckler and Bow. Importantly, Vali-2 has a larger net gas pay count than the Beckler and Bow wells which indeed bodes well for strong initial production rates; hopefully the Toolachee in Vali-2 will not need to be fracture stimulated.
Also, if the MDT pressures taken in the Toolachee sands at Vali-2 all fall on the same pressure gradient versus depth plot (shareholders do not know this), this suggests that the stacked sands are most likely connected to one another (one gas column in the Toolachee). This bodes well for lower production decline rates over time, compared with faster production decline rates in the fracture stimulated Patchawarra wells. Looking solid.
Kind regards OldGeo.
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