FYI , emailed to me by a mate over that side , 'borrowed' from a NZ sharesite I believe. SALTY
Waaihoek - we would need to drill North Cape Fmt (Late Cretaceous) before we drill Rakopi Fmt and the jury is still out on whether we have even fully penetrated Farewell Fmt (Paleocene). Also, basement is looking very close and predrill seismic seemed to indicate that Rakopi was unlikely to have extended this far east in the half graben. So it's probably unlikely that any Rakopi will be drilled by Pukeko-1.
I'm uncertain about any interpretation being applied to these drilling breaks. I think the previous report from Eric Matthews indicating that this well is throwing up a few challenges really says it all. This is frontier land and we are having to step into the relative unknown.
Perhaps this far south in our coastal sand trend is suggesting that we are drilling more braided stream complex than pure beach sand as of Tui/Amokura. That might also be consistent with the variable rates of drilling being experienced and make more favourable comparison with the reservoir characteristics of Kupe South rather than the fields to the north.
In respect of sandstone, from my earlier post there is plenty of potential for drilling sandstone either within the earliest Farewell Fmt or North Cape Fmt, so I'm guessing they have been drilling sandstone - perhaps of variable quality through intermittent shale.
As a general comment, my best description of the play to date would be something as follows:
Firstly, think of the basement high that we are drilling as an ancient hill of sizable dimension. Let's call it Mt Pukeko. To the west is the half graben or deep valley, and this has been filled with Rakopi sediments to some distance up the side of our hill. Next, North Cape sediments have been laid down over the Rakopi and perhaps all the way up to the top of our hill. Successive layers of sedimentary horizons have then been pancaked on top all the way to surface. As these layers have been successively laid down there has been relative settlement (or drape) across the top of our hill. As it affects Pukeko, what is now significant is that it follows that the lowest layer which is continuous across the top of the hill should have the most drape of any of these layers, and all succeeding layers should have successively lesser drape - assuming everything being equal.
It is probable that we are now drilling this lowest layer.
This interpretation suggests some implications:
1. Once mature, the Rakopi kitchen to the west will expel hydrocarbon up out of the half graben and any hydrocarbon migrating towards Mt Pukeko will want to rise up towards its summit.
2. The relief in any trap/structure across the top of Mt Pukeko will have greater depth than the relief in any potential structure at higher horizons of interest (eg C, D, F sands).
3. If Pukeko-1 is actually drilling into the top of Mt Pukeko and not offset from its summit [mapping suggests that we are directly over top of summit], then
a/ if a hydrocarbon column is established which goes all the way to basement (viz if TD is at basement and these good shows continue to TD), and
b/ if logs confirm a hydrocarbon column to TD,
Therefore, it follows that actual relief for the trap could continue down the side of our hill to some as yet undefined level.
Summary - with nearby producing kitchen, and potential structure draped across the top Mt Pukeko, then we have the major factors in place for discovering some quite significant hydrocarbon accumulation.
AWE Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
