FAR 2.91% 50.0¢ far limited

Well I thought I just post another way of understanding...

  1. 6,650 Posts.
    Well I thought I just post another way of understanding (dreaming) how much oil the 3S mega field might have, as there lots of words about gross oil and net pay in the last four wells drilled.

    Here is the rough and ready method.

    FAR is currently saying the SNE field is approx 350 sq km in size as mapped prior to SNE 4 and Bel 1 results.

    FAR have published independent reserves numbers calculated by RISC in April 2016.

    RISC have had complete access to all that lovely confidential net to gross information from SNE 1, 2, 3. But not yet incorporated Bel 1 and SNE 4 intersections. Update by RISC in progress.

    If we take that 350 sq km size to encompass 1c, 2c and 3c RISC numbers we have 1.909 billion barrels.

    Or approx 5.45 million barrels per sq km.

    So how large is my 3s (Sirius, SNE, Soleil and Paprika) hypothetical field?
    upload_2016-7-3_15-8-51.png

    Well around 15 by 70 km = 1,050 sq km.

    So here a ball park of what the 3S mega could contain

    1,050 sq km times 5.5 million barrels = 5.727 billion barrels which encompasses 1c, 2c and 3c numbers.

    Now I know there assumptions made here but I trying to show how big 3S might be, even if JV new depth conversion shows the 3c area is only 50% of what I hope for you still talking about a huge discovery which the recent wells are just beginning to hint is actually there!!

    Did I hear 100m gross oil in all three flank appraisal well?
    Last edited by WhiteNoise: 03/07/16
 
watchlist Created with Sketch. Add FAR (ASX) to my watchlist
(20min delay)
Last
50.0¢
Change
-0.015(2.91%)
Mkt cap ! $46.20M
Open High Low Value Volume
52.5¢ 52.5¢ 50.0¢ $45.91K 88.73K

Buyers (Bids)

No. Vol. Price($)
2 5993 50.0¢
 

Sellers (Offers)

Price($) Vol. No.
50.5¢ 5982 1
View Market Depth
Last trade - 15.08pm 28/06/2024 (20 minute delay) ?
FAR (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.