Thanks cjames. Not sure I quite get the science of migration...have to think about it for a while. Anyway, I can't find to much on the geology of the area either, but here's some extracts from some articles. Also Horizon have a decent map on their website www.horizonoil.com.au
Cheers.. Pol
***6.2.2006*** In other operations in Bayou Choctaw, the Moncla drilling rig is preparing to move to the first location in the Victory Financial Lease in Bayou Choctaw.
This well to be known as Australian Mineral Interests No.1 is a new well in the farmin programme and will be drilled to 2775 metres (9100 feet). The proposed drilling programme is designed to test deeper targets and is expected to take about three weeks to complete.
A further announcement will be made when the rig has commenced drilling and daily reports issued to the ASX
***20.10.2005*** Icon will be carried through this drilling programme wherein CLK are committed to spending $A 6.5 million in total development drilling costs. The well is programmed to test the deeper targets of the Frio Formation which have not been fully developed in the Bayou Choctaw Field.
***3.9.2004*** The last major production development in the Bayou Choctaw Field was in the 1950s. The advent of ‘high tech’ 3-dimensional (3D) seismic in the early 1990s and the rise in the oil prices to current levels have made the Bayou Choctaw Field a new and valuable asset. Further workover of selected wells will follow over the next few months as the prospects are evaluated by the operator, CLK Energy Inc.
***30.5.2003*** These proven reserves are estimated at 12.2 millon barrels of oil and 15.6 BCF of gas with a total gross value of $US 230 million. There is considerable upside potential for new reserves at Bayou Choctaw but this has not been utilised in the financial analysis
***2.5.2001***
Victory-1 spuds in Louisiana
The well is located on the Victory Financial Lease of the northern flank of Bayou Choctaw salt dome, 8 miles southwest of the city of Baton Rouge, Louisiana.
The well is the first of a series of development wells targeting the Frio sandstones and will be drilled to a depth of between 3,200-3,800 m depending on the geology encountered.
The primary targets are the producing sands of the Marg Idi through Marg Tex sedimentary units which are located around 2,750 m.
These sands total 11 in number contain oil and gas classified as PUD (Proven Undeveloped) reserves in wells drilled down dip from the drilling location.
The identification of these PUD reserves was made possible through the interpretation of "high tech" 3D (three-dimensional) seismic data acquired within the past 5 years.
Icon’s interest was purchased under an agreement signed between Icon Oil US LLC and Bayou Choctaw Inc.
Icon/BCI Victory No.1 is to be drilled below the known PUD reserves to intersect the sand section never before penetrated on the Bayou Choctaw salt dome.
These sands while productive in wells located away from the salt dome were not drilled in the 1940s when the original oilfield was developed because of problems associated with high pressures in the sediments.
"Modern drilling technology and equipment allows these zones to be drilled routinely to day. These deeper zones are expected to have a proclivity for gas but this gas is likely to be accompanied by high condensate/gas ratios. Because these deeper zones have not been drilled on the dome no firm reserve estimates can be attributed to the sands and they remain classified as exploration potential reserves only," Ian said.
The potential for these deeper reserves are far higher than the shallow PUD reserves but carry a higher drilling risk.
ICN Price at posting:
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