canning exposure possible bigger than kuwait, page-5

Carrying on with the discussion - "canning exposure possible bigger than kuwait".

Oilbasins have just released a presentation showing the potential of Backreef and Selene prospects.

The Backreef play ,or as it was originally known "Yellowdrum Tidal Flat porosity play", is a Talus Slope or Sand Lens stratigraphic play off the Blina oil field. Here's the independent geologists report. -

http://www.oilbasins.com.au/indexpgeoreport%20backreef%20play.pdf

-------- OBLs summary -------------

Permit Blina Back Reef Play JV Area
(formerly part of L6, EP129 R2 & R3)
Operator Backreef Oil
Proposed TD 1,800m (5,905 ft)
Area 72 sq km (18,200 acres)
Max. Gross Pay 500m (1,640 ft)
Net to Gross 8% ie 40m (131 ft)
Rock Volume 36,000 x 10 ^6 cubic m
Reservoir Porosity 15%
Lowstand Clanmyer Fm So 65%
FVF 1.2
Gross Oil-In-Place 900 MMbbls
Recoverable Reserves 270 MMbbls
(prospective potential recoverable)
Net OBL Share 135 MMbbls

-------------------------------

The aspects of the play I like are

(1) next door to Blina so oil is there.
(2) large seismic anomaly is wedged shaped, just like a sand slope?
(3) Seismic anomaly is believed to indicate preserved porosity.
(4) Seismic anomaly appears to have interbedded seismic reflects
(5) Roger meaneys summary states "The chance of presence of an intact seal, porus and permeable reservoir and the presence of rich and mature source rocks appears to be high"

The risks that I'm concerned about are
(1) valid structure, currently not defined by seismic
(2) seal, I'm not sure this is proven although other geologists think otherwise.
(3) prospect size, current estimates look large. Melany-1 well drilled on what appears to be a tidal flat prospect, further north west, was dry. But geological complexity in this region could account for this, there is oil at Blina. I feel 20-50 MMBLS recoverable possible.


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