Folks
More w'end research on ERH. The more u read the BM, the better this gets.
The OIP for a 100% working interest for this prospect in B-430 was calculated as 5.4MMBBL. With a recovery factor of 20% used by Gavea's seismic team, the OIP is 1.7MMBBL.
The above figure was b4 they found the gross 149m oil column & will change post logging.
Note that this Gross Oil Column is about 11.22% of the total well depth (149m out of 1327m). Its not surprising as these blocks in the Sergipe Alagoas basin are classed as "Shallow onshore".
The closest field is Angelim, discovered in 1968, produces from an average depth of 830m. This field actually extends into ERH's part of Blk 430 to the north not drilled at 1NSE1.
About half of this prospect also falls into Block 429 & is commercially operated by Petrogal in a 50:50 JV with Petrobras.
A in all, this well will flow & at current oil prices of say $125, its worth bringing into production soon.
cheers
block 430 well 1nse1
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