Agree Andy, should b a big week ahead!!
The unexpected presence of Montara sands (MS) adds a bit more to the known Plover sands. MS sits right on top of the Plover, so once they would have finished cutting the core (& ship it onshore), we should see them get back to drilling to TD.
COP did the right thing, by coring this part of the well, since these sands aren't seen to the south at Torosa (60kms), Brcknk & Calliance or 5.6 kms northeast at P1. So better off coing & testing its porosity, permeability, HC saturation/content/composition & above all if 'wet', maturity.
Argus which is about 56kms to the north east, had these sands but wasn't wet enough & was left as a non-commercial discovery by BHP, 9 yrs back. CGR was 5 bbls/mmcf gas, hence as good as dry gas with condensate not quite mature enough for a LNG project or FLNG.
However, recent discovery by Santos at Burnside after 3 months of data analysis & lab testing, has shown that their field (which is south of Ichthys) althou' tight, has wet sands & could host anywhere between 500 bcf to 3 tcf. Note this 'wet-gas theory' can't b proved in a day or 2 by simply quoting MWD data, Chromatograph gas or WL logs, hence the reason for companies to take more time, b4 updating markets.
Wouldn't surprise me, if they cut another core, since we know P1 was a bit of a show-stopper when it came to hole condition. Hence the cautionary approach by COP.
Should b a good couple of weeks ahead in December & one could see a bit of SP volatility, b4 anything concrete is announced. So hold on for the ride & keep the faith, nearly there.
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