I reckon there's probably a law of diminishing returns with ESPs; ie where natural flowrates are decent enough, there's probably little to be gained by installing an ESP given the additional costs etc. Otherwise, I assume they'd be installed in almost every well.
The thing I didn't mention in my last post was the potential implications of the T2A reservoir, especially in the southern extension. According to slide 9 of the new presentation, the T2A sections appear to be thick at both J55 & J58 (52m of net pay at J58). However, thus far we've heard nothing as regards the flowrates from this interval nor the likely potential of these sands to add to the total 2P reserves.
I have a feeling that the T2A reservoir might prove to be a card that JPR has been keeping up their sleeve prior to the new CPR. If so, it remains to be seen what sort of 2Ps number the forthcoming CPR will indicate. Anyone care to hazard a guess? I'm starting to think there's a chance of a figure around 70mmbo, especially if J59 comes good as I expect it will.
JPR Price at posting:
61.5¢ Sentiment: ST Buy Disclosure: Held
