Hi Cara, Ha ha. Love it I took a look at VEN's presentation at the Sep. 2019 Good Oil Conference. Below is a summary slide over the Patchawarra section in the nearby Kinta-1 well, our primary objective at Vali-1. As I've mentioned before, reservoir quality is going to be our main challenge if we encounter gas-charged sands in Vali-1. The nearby Kinta-1 well had 37metres (120 feet) of interpreted gas pay in low permeability sands that did not flow to surface in the cased hole test between 9,800-9850 feet; porosities in the 5-8% range. Hopefully the latest drilling, logging and testing technologies can over the challenges faced in Kinta-1 and Vali-1 flows at sustained gas rates of 1-2 mmscf/d.
Not long to wait now though. Perhaps there will be two share price triggers. The first trigger would be the initial announcement of gas pay at around 20-40m. The second trigger would be the well test result if there is sufficient encouragement to flow test. I'm hoping for multiple pay zones in the Birkhead, Nappamerri, Toolachee and Patchawarra............. ha ha now wouldn't that be nice.
Kind regards OldGeo
MEL Price at posting:
4.4¢ Sentiment: Hold Disclosure: Held
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