lisbon comparisons...speculation...

Uboy...

Thanks for the summary of the Lisbon well in an earlier post...I am starting a new one so it will not be buried...and will expand on your intial post if you don't mind, as it highlights what I have been saying about GDN's well...and field.

As a first reference, I will forget about every single nominated zone in GDN's well except for the Pinkerton Trail hit, for the siumple fact it has the same closure and geological controls as Leadville...and a similar productive area (closure) to Lisbon...

As for the other zones higher up...need to compare to the much larger Aneth field for relevance.

Anyway, here goes with the Lisbon Leadville / Paradox Basin #1 (Pinkerton Trail) comparisons...

• Lisbon Productive Area = 5120 acres
Pinkerton Trail = 4,940 acres

• Lisbon Net Pay – 225 ft
Pinkerton Trail = 30 ft

• Lisbon Porosity – 1-21%, average 5.5%
Pinkerton Trail = 5-20%, average 8%

• Lisbon Permeability = 0.01-1100 mD, average 22 mD
Pinkerton Trail = 0.01-6,000mD, average 150mD

• Lisbon Water Saturation – 39%
Pinkerton Trail Water Saturation = 5%

• Lisbon Bottom-hole Temperature – 53°C to 73°C
Pinkerton Trail = 118°C

So, we get higher production rates (mmcf/d), similar closure, but narrower pay...equating to some 106bcf+ just for the Pinkerton Trail hit alone!

Whilst this is a significant zone, some may not realise that the upper zones such as the Alkali Gulch potentially fall within a much larger productive area (closure) than at Leadville and Pinkerton Trail...we will not know this until testing is complete however...and indeed, will not be completely sure until further wells are drilled!

Assuming production from Pinkerton Trail alone of a stabilised 3,000mcf/d (1.1bcf/y)...we get net income (assuming Henry Hub price US$8/mcf av) of some US$8.76m per year...just from this the Pinkerton Trail horizon…and with relative few ongoing costs.

Using Lisbon as a guide, each well can produce up to 30bcf+...so lets assume just 16bcf for the Pinkerton Trail zone...that’s 15 years at 1.1bcf/y for total income from this one well, from the Pinkerton Trail zone alone, of some US$131m

lol...how many potential productive zones are in this well again?

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Using Uboy's Lisbon Statistics again, here are my total assumptions for the entire well to date…

Lisbon in Black...GDN's Paradox Basin #1 statistics in red (guesstimations at this point).

Lisbon Discovery Well Golden Eagle Discovery Well
• Pure Oil Company, #1 NW GDNA LLC, Paradox Basin #1
Lisbon USA

• T.D. – 8440 ft 16,800ft
• Completed January 5, 1960 June 07?
• IPF – 4376 MCFG, 179 BOPD 7,500 MCFG, 22BOPD
• Initial Pressure – 2713 psia 2,500 - 8,000 psi (multi zone)
• GOR – 1417-3153:1 GOR (gas-oil ratios) = 20,000:1

Oil Characteristics
• Oil Gravity – 54-62.6° API 46-52° API Upper Ismay
• Sulfur – 0.2% 0.2%
• Color – Yellow to Red Yellow to Red

Reservoir Data
• Productive Area – 5120 acres 5,000 acres av
• Net Pay – 225 ft 255 ft

• Porosity – 1-21%, average 5.5% 1-15%average 4.5%

• Permeability – 0.01-1100 mD,
average 22 mD 0.01-1200mD, average 18mD

• Water Saturation – 39% Water Saturation - 28%

• Bottom-hole Temperature – 53°C
to 73°C 118°C

• Type of Drive – Expanding Gas
Cap and Gravity Drainage Gas under reservoir pressure, oil via gas injection

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All up this gives us an upside of about 1.1tcf, middle number of 700bcf and lower number of 300bcf...or there abouts.

Cheers!