Few goodies worth sharing. As the last qtr of the year begins, time to revisit the past, as the mangled remains of the Western Atlas J/U r removed frm Montara well. Yep, this mothership drilled H#2 & BW#1, back on '07-'08 for MEO, so a bit of nostalgia for the LT holders. MrMoShe & Baraka will remember these 2 wells as will many others.
Fugro had done the Inversion modelling (refer MEO's mkt update dt 12/9/07) & after drilling H2 they pretty much confirmed that Epenarra had the goodies, whilst the Plover was 1 bad naturally frac'd sand (u can see on the seismic that the red/orange band is not 1 continuous layer, its resembles fido's breakfast, literally).
Photo#1: shows the GIIP for the twin reservoirs. (again these r frm 2008, so I wonder if GCA will tell us anything new, we wait for now).
a) Epenarra structure with its Darwin 'C' carbonate facies had 5.6 Tcf mean contingent GIIP (or 3.2 Tcf rec. resource). Had 5-12% porosity with good fracture permeability in Darcies (not milli-D's!!). 4 sets of fractures were picked up by the sonic scanner & sidewall core samples.
b) Plover sands: These were over-pressured at H2 & fractured as was indicated by mudloss of 60 bbls/hr at depth of 3973-3983m (top of plover), which sort of explains the wellbore collapse.
The orange-red bands r the gas charged reservoirs, while the dark band beneath the Epenarra is the tight Echuca Shoal shale (with no HC's). Fairly self-explanatory.
SLB's report to MEO identified other area with good porosity that MEO could target later, but my concern is with the water depth. (Tighter contours indicate a steep slope or upliftment thanks to the twin faults.
Look fwd to GCA's update, which probably explains the movement in the SP 2day past 45c.
MEO Price at posting:
45.5¢ Sentiment: Buy Disclosure: Not Held
