Oh how time flies. I remember discussing this exact topic 3-4 years ago! ha.
I am not really going to go into it much, although I am keenly awaiting your ongoing research Bhutos....
into BRUs upcoming wells.
So we have confirmation that Ungani-5 has spudded with the potential for BRU to have a good Xmas/new year.
I look at the nice depth structure map that they have provided and wonder what is to the right of Ungani-5? Perhaps an extension of the structure? Considering that Ungani West is delineated as a potential target, why not Ungani-5 east? Also, they mention that Ungani-5 could hold potentially 3-4m barrels of recoverable oil if the well finds what they expect, I am assuming they are using 2C (if successful 2P) for that forecast? That would imply perhaps 5-8m 3C? That would make the 2 largest Ungani structures (if successful) hold potentially over 40m barrels of 3C oil recoverable. A huge onshore field/s!
I would love to know what the total estimated oil in place number is....!
Finally, I know we ahve already talked about possible wells for next year, but... for BRU, surely drilling either Ungani West or Ungani 5 East (if it exists) would be the highest priority? Any further success will almost guarantee that BRU can produce at 5000bopd, or more for that matter. The rig will (in my opinion), simply be stacked at Ungani after this years program finishes, which would also ensure that BRU could, for a change, start drilling earlier in the year at a location very close to where the rig is already located. I very much understand that most would love to go after the big targets straight away, but, the more 2P BRU has, the more, hmm, nous it has in the market place.
I am not going to touch the talk about $2.oo, $3.00, $10. All been done before. I will only talk about it once we hit it. Wishing I was as wise as you Bhutos regarding your profit taking etc. Hopefully I have learnt a little since 2013.
I would like to think we will get a further update in coming weeks to confirm that the the upgrades are complete, the flowline is being built, a new truck/trucks are now on the roll and that production is increasing. As some have commented, BRU is def on the front foot announcement wise these days. Kudos Eric.
