The Parsons Oil Field is expected to commence oil production in April from the Parsons-1 and Parsons-2 wells. In theory, they should both produce initially around 3,000 to 3,400 bopd.
According to COE's pre-drill announcement, Parsons-2 would add about 400,000 bbls of oil (gross) to 2P reserves.
If you remember, Beach had previously assessed (5 December 2007) the recoverable (gross) oil reserves in the Parsons Field to be:
p90 (Proved) 1.4 million barrels
p50 (Proved & Probable) 1.9 million barrels
p10 (Proved, Probable & Possible) 2.6 million barrels
BPT has a 75% interest in this field (COE has the remaining 25%).
IMHO while this should add a few more cents to the Beach sp in the short term, it is unlikely to be a material catalyst or trigger.
Cheers
cooper basin beach petroleum oil strike, page-2
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