What are we looking for this week in announcement?The below has...

What are we looking for this week in announcement?

The below has been taken from a transformational discovery of another oil explorer.

Wireline and formation evaluation tools have confirmed the presence of a hydrocarbon column in the xxxxx well, with light oil recovered to surface.

Logging while drilling tools indicated a sandstone reservoir section with elevated gas readings and increased resistivity, indicating the presence of hydrocarbons.

While drilling sufficient hole to accommodate the wireline logging tools, further reservoir sands were encountered with accompanying indications of hydrocarbons. At the completion of drilling, the well had yet to encounter water saturated sands and all sands were hydrocarbon charged.

The wireline logging tools have confirmed the well encountered a total gross hydrocarbon package of 97.2 metres True Vertical Thickness (“TVT&rdquo with a net oil pay of 102.1 metres TVT.

Excellent reservoir characteristics were interpreted from the logging with average porosity of around 30% with hydrocarbon saturation of 89.5%.

Permeabilities ranged between 100 to 1,000 millidarcy in the hydrocarbon zone.

The high quality of the reservoir was further reinforced by the rapid time taken to extract the oil samples and the high mobility recorded while undertaking formation testing.

A number of oil samples were extracted with a very light oil being recovered to surface.

Estimates of the oil characteristics from the rig indicate a 45.1⁰ API oil.

No water contact was encountered in the well indicating the total oil column could extend past the currently drilled extent of the well.

The combination of light oil and excellent reservoir characteristics support potential for high flow rates on production.

GLTAH