the flow,
It's a bit like an iceberg, we probably only know 10% of what's going on. Combination of contractors, delays, pressures and fractures got the better of the well. I've been talking to a contact knowledgeable and quite senior in the field, he thinks it's lost circulation (drill fluids) and non optimal well design for flowing. It's one thing drilling through a reservoir slowly to get logs etc and another thing getting it done to flow well in carbonates. The fractures and pressures create problems and drilling through the entire thing is troublesome without causing reservoir damage.
Ideally you punch through at the correct angle and then flow just before lost circulation hits a critical point. Open hole flow, old school barebones. complete acid wash and fracc then open up and flow.
The upside is that there are logs due and the net gross should be good.
Keep the plan simple, get 5 or more producers drilled/online and then return to exploration for one well in the lower sheet. Use the BOP on alameda-3 every month or so to see if reservoir is improving with potential flow/pressure test. Payback on a producer for a well that flows >1000bopd should be about 6 months or less if costs are kept below $10m a well.
best of luck holders
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