Juantia general info

We have the Juanita AFE ( Authority For Expenditure)

Well cost is to be ~US$1.6 million



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We glean a few details from the AFE

1) Rig rate is US$15,000 a day

2) Well timing is  MIRU ( Move In and Rig Up)  1 day, followed by 7 days to drill to TD (Total depth) at which they will run open hole logs which will give then information on the target zones. Once logs are run they will LDDP ( Lay Down Drill Pipe), run casing / cement  and then will RD ( Rig Down ) which will take another 2 days to complete.

By my estimation we are at least at day 5 or day 6.

3) The logs will allow BM to determine which zones are productive, ( Ideally we want the primary target Mc Lish to come in hot.  The Bromide and Viola above should be productive and as bonus  the Oil Creek below ).

Not sure if I have put up the Juanita drilling permit, it shows all the zones that the well covers.




The Springer is a shale zone, we all are familiar with the Sycamore, and the rest of the zones are conventional limestones, sandstones.

The main target for the Bradbury AOI is the Mc Lish. Black Mesa's reservoir engineer, when he was looking through old well logs and " prospecting", found in the Thelma logs, that the well had drilled into the upper portion of the  Mc Lish zone at TD, had good signs of hydrocarbons in a good reservoir but was plugged, and completed for production in the lower Bromide, immediately above. He was aware of significant Mc Lish production in the area, especially to the north east, and postulated there may be a bypassed productive zone. In analysing the geology around Thelma, postulated if the Mc lish zone works in Thelma, there was a chance with local structural high points evident in the area, the volume of bypassed oil could be significant.

The completion of the 8 foot drilled  Mc lish zone in Thelma showed there indeed was producible oil as per the workover of the well in the Orion project.

The logs of the adjacent well , the John N Lewis A2 well,  show the depth and thickness of the zones of interest. The Mc Lish Zone is ~360 feet thick and was not productive in this well. The Juanita is the first test of John Schumer's  Mc Lish hypothesis in a favourable structural setting. If it comes in then they will drill the second well to test the zone in that location.



Juanita is actually located at the "additional" location.. the second well is at the " proposed" location.

The exciting aspect of this well/ wells is unlike the SWISH AOI (where the question was how productive were the Sycamore/ Woodford zones would be ), there is a significant exploratory component to the Juanita wells. The Viola, Bromide are proven producers in/ around the location but if the Tulsa guys are correct, BM/ BRK will have found another overlooked and very material  AOI, which will be monetised through cheap, conventional, vertical well drilling and production.

If the Mc Lish  doesn't pan out, there is a good chance the Viola , bromide zones will provide some production to help pay for the well, but it will be unlikely they will drill the second well... and they will continue the hunt .

Cheers

Dan