JKA 0.00% 0.3¢ jacka resources limited

how much oil is abiod

  1. 3,027 Posts.
    lightbulb Created with Sketch. 285
    Came across some more info that the Abiod Carboniferous formation will eventually yield possibly upto 1 billion barrels of oil(or more).
    But dont get to excited about Dragon/Cooper/Jacka Bargous exploration permit all being at Hamammet West and surrounds, they may only score 30-300 million (or a little more) eventually?.

    This is because Abiod formations are now profitably prolific producers or oil and gas, scattered across inland and offshore. Slowly but shorely these oil rich formations are giving up more and more.
    Presently there are now more than 20 companies crowding in to more than 130 Tunisian granted permits all trying to further expand these discoveries. Most are aiming the Abiod formations. At the end of 2009, there were 20 oil and gas companies producing oil and gas in Tunisia. In 2013 the estimated oil output in Tunisia is more than 50 million barrels per year and growing.

    Any some tales of interest regarding Abiod 300km to the South West of HW3...

    But the story of Sidi el Kilani (inland) is too good to ignore. It’s a clash of titans.

    "Like many great discoveries, it was an accident. In the late 1980s the Kuwaiti Petroleum Corp (Kufpec) was partnered with the French giant Elf Aquitaine (now Total), drilling for oil in a deeper reservoir below Sidi el Kilani—which is only 2300 metres deep (think regular Alberta well).

    So two deep pocketed majors are drilling—and the first well missed. The second one…missed as well. And the third. So did the fourth, fifth and sixth. (Remember it was the days of Vertical and little technological usage then).

    Elf had enough. Just as the seventh well was being drilled, they pulled out. The Kuwaitis went and drilled it anyway—and a 50 million barrel field was discovered. And all that oil was produced from just FIVE wells! And one of them produced over 20 million barrels.
    Sidi el Kilani today is one of its main oil producing fields.
    One well was producing 11000 barrels of oil a day at its peak.
    Anyways....Imagine spending tens of millions of 1980s dollars over six wells, walking, and watching your ex-partner hit THE Gusher on the next one. Elf tried to get back in by paying a penalty, but the contract didn’t allow for that.

    That’s a GREAT discovery story, with a little bit of salt."
    Keeping in mind we are talking Abiod formations.

    Anyways you can see why Coopers 3D have implied the following... (in 2010)
    "Cooper Energy has increased the Hammamet West oil field contingent resources estimate by 37%, following interpretation of high-resolution 3D seismic data. The reserves upgrade is due mainly to an increase in the size of the Abiod formation structure, Cooper Energy stated. The CR estimate is now 67 million barrels of oil, compared to the previous estimate of 49 million barrels of oil. The Bargou joint venture (Cooper Energy, operator, 85%; Jacka Resources 15%) will further process the 3D seismic data to assist imaging of the Abiod carbonate formation, and to complete the design of a Hammamet West horizontal well to test the production capacity of the Abiod formation."

    I think they are taking now upwards of 100 million now but at least we know for sure - ABIOD will give a HUGE result if all the data comes in as anticipated.

    Maamoura OIL discovery 12 km away should be a great indicator for this producing now about 10000 barrel per day as well as 30 MMscf/d (35,400 m3/hr) gas. WOW! Just 12 km away.

    Anyway - maybe another 10 day to touchdown Abiod.
    Hope they score big in those first few days - it will be a fantastic indicator. BUT for now WAIT and SEE!


 
watchlist Created with Sketch. Add JKA (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.