MAY 0.00% 3.1¢ melbana energy limited

Hi Nergel, AP has stated many times that if the exploration well...

ANNOUNCEMENT SPONSORED BY PLUS500
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM
CFD Service. Your Capital is at risk
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
  1. 2,289 Posts.
    lightbulb Created with Sketch. 1018
    Hi Nergel, AP has stated many times that if the exploration well at Zapato is an oil discovery, they will flow test it straight after the drill is completed and if the flow tests are good they will turn it to an oil production well, trucking the oil to nearby refineries.
    The same applied for Amestad-1 but due to the high pressures from the deep oil reservoirs it was too much to handle with the drilling equipment they had and it could have resulted in a blow out, which could have caused deaths and an environmental disaster. Next time round they will have more appropriate drill equipment to handle the immense pressures from the huge oil reservoir.
    If Zapato is a duster then they will go and drill a development well at the Amistad oil discovery, as this oil zone is shallow it would take less than 1 month to drill and they will then flow test it, if the flows are good they will then put it straight on production.
 
watchlist Created with Sketch. Add MAY (ASX) to my watchlist
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.