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6,809 Posts.
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11/02/09
09:47
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Ok here's the translation in simple terms for all.
That 44m is thickness of sands. Logging will confirm how much of it is NET clean sand (say 30m out of 44m, 68% N:G ratio)
As per the map, we know the area for Z-1 in sqkm, apprx about 190-200 sqkm. So that gives u the volume of gas bearing sand in the acreage!!
Multiply that by porosity of the sandstone, HC saturation, gas volume factor to get Gas In PLace (10-15 tcf+).
Multiply GIP by recovery factor & MEO's stake in this JV, to get recoverable gas volume & MEO's net share.
Multiply that net share by current gas price on the West coast (say A$5), u get the dollar value.
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