As E-109 (the J/U rig, ie) winds up its act at M#2 for PTTEP, time to look at what lies beneath at HS#1.
HS#1 is ~5.2kms due south of H#1. At H#1, Arco hit the carbonate reservoir, however they didnt hit the Elang/Plover sands. Why one might ask ? Coz they picked the wrong spot in Sept 1971 to drill. They drilled at a spot which had a very thin structural trap (as seen in the following figure below).
So they hit the carbonate Darwin Formation where they looked for secondary porosity (fractures, i.e) & drilled to abt 4200m TD without intersecting the 2 deeper reservoirs (which were hit by MEO at H2, Eland flowed 6MMCFD & Plover collapsed 'coz the numpties did an open hole DST).
Now here's looking at HS#1.
HS#1 is in a tricky spot, stuck between 2 major faults.
However, IMO the trap appears 2b present & is analogous to what we saw at H#2.
Pulled this classic figure frm a MEO preso pre-H2 days & have highlighted the local 'swarm' of faults to the East of H#1. Why? Coz in there is the 'High' ENI needs to target.
Question is, will they find the same reservoir as H#2? Seems like they will. Anyways, attached is the seismic interp below, while we wait for the E-109 to arrive.
Only time will tell if ENI hit the Elang & PLover at HS#1 first & then post logging decide to run the liner & then perforate it to flow any HC's to surface.
So until October, we wait. End of rant chaps.
MEO Price at posting:
25.0¢ Sentiment: Hold Disclosure: Held