REMEMBER ABITABack on 20 Mar 2012 , Coy Ann - ABITA...

REMEMBER ABITA

Back on 20 Mar 2012 , Coy Ann - ABITA highlights.

"...The well logged 171ft of net pay in 9 intervals.
Recoverable resources estimated at 350,000-700,000 barrels oil and 8 BCF gas with additional upside.
The JV has completed a technical review of seismic and subsurface geology which shows a possible field extension to north east and indicating a resource potential similar to the discovery well.


".... GGE’s estimate of the likely resources of this discovery (unaudited) is 7.9 BCFG and 350,000 - 700,000 bbls over 9 intervals. The Operator
completed an initial tri-completion of the three bottom intervals, 30, upper 30 and 29 Sands.
Each interval will be put on production individually and produced until depletion sequentially. The Operator’s decision to undertake a
triple completion provides the JV with the ability to economically open and shut each interval with a wireline unit, reducing expensive
completion workover rig requirements.
Depending on the stabilised flow rates the Joint Venture may drill a development well to accelerate the oil production from the 19 sand.
The JV has completed a technical review of the seismic and subsurface geology and confirmed the potential of another oil and gas
accumulation in an untested fault block on the same geologic feature (see map). The anticipated reserves in this untested compartment
are similar to that found by the discovery well. An exploration well into this feature is presently being costed for review.
A new exploration well drilled in the untested fault block will have the added benefit that it will likely penetrate the lower sand package
not evaluated in the initial well. These lower sands may hold 400,000-600,000 bbls of oil and are a significant producing interval in the
adjacent Coquile Bay Field.

Potential.Beats me why .004

R15