Hi I have come across some info on 88Energy in particular I have note that both Merlin exploration drills 1-2, were unsuccessful due to the tightness of the formation and therefore poor porosity / permeability. I also read though that: Both Merlin wells were drilled on sparse, vintage 2D seismic data, which provides a narrow field of view of the reservoir and limited optionality on drilling locations. 88 Energy will now assess the merits of a future 3D seismic acquisition program to better identify with modern processing of data future drilling locations to optimally test and determine the potential commerciality of the Peregrine acreage.
Please, I am confused on how a 3D seismic would be able to find better porosity/permeability formation?! I though that 3D can be useful to find better pay zone and horizon in general. Is it maybe that 3D together with some wire log interpretations and core log data, can derisk permeability/porosity issue, and how much probabilities can be to find a better formation? Thanks
IVZ Price at posting:
12.5¢ Sentiment: Hold Disclosure: Held
