When they report flowrates, they should also report the gross thickness encountered & the net:gross ratio. A bit more technical info would add more value, eg porosity, CGR etc.
In the meantime I have attached the release frm CNOOC last April.
As a comparison, here's a list of the thickness encountered in some of CNOOC's Dongfang 13-2 appraisal wells.
- DF 13-2-1 had 35m thick payzone & it flowed 42.4 MMCFD (note this update doesn't tell u which zones were tested & their individual thicknesses)
- 40.2m at DF 13-2-3 well - 18.3m at DF 13-2-4 well - DF 13-2-6 was drilled in Oct last year by NanHai-4 jackup rig, I don't know the thickness encountered - DF 13-2-7 was another successful appraisal well (refer CNOOC's mid-yr preso)
What this tells u, is that the neighbours have been flat out drilling appraisal wells at DF13 & will b easy for them to hook these to their existing network at DF1-1 which comprises of 4 unmanned platforms & 22 production wells & a network of pipelines going onshore to Hainan Island.
IMO, after ENI complete CL-ST1, a follow-up well in Q1-14 would b ideal on this 'trap' to define the resource size & a plan of action thereafter, as that IMO will keep the momentum going with the SP rather then the usual profit taking on the flowrate announcement.
NEN Price at posting:
40.5¢ Sentiment: Hold Disclosure: Held