Great job Matt, Mark and Scott.
My notes from today’s discussion, please forgive any inaccuracies and don’t take as gospel. Others may have more to add:
Sidetrack of 200 not likely. They’re too close to fault zone to make it worthwhile. Needs distance to get into crest and bright amplitudes. Haven’t decided whether a follow-up well for 200 will be before or after Baobab.
The volume of clay and seal is one of the best things to have come out of this so far. Was thought to be sandy, but the thick shale increases confidence and takes a big primary risk off the table. Also means that 200 and Baobab are similar so Baobab can be drilled on a 12 ¼ right to TD. This knowledge is good for well design.
The 200 implications are also good for the eastern leads as they are in the same horizon.
Data acquisition not gone to plan due to Baker Hughes tools not working and no spares ready – mud logging was not possible.
Potential to go into Lower Angwa. SM says they will go as far as possible and can reduce to 6in hole. My read was this is still no better than 50/50 chance.
Clarified comment that there was not just residual gas in Dande and that it can definitely be commercial depending on another well going in directly to the reservoir.
Data out of this well will calibrate the seismic across the basin – massive tick.
Should stop the talk of leaks from site - they saw nothing until they called depth and got the logs, so nobody knew anything including Scott.
Results for the big target will be after wireline data is received. Won’t report shows during drilling, which is in line with previous statements.
Next section will use a normal mud balance (missed a bit of this part).
Rig contracted to end of campaign. Exalo want a longer term contract. They have nothing booked after and the rig is staying. Can extend contract or bring something else in.
Well 3 and beyond – depending on results which well is next and how many after.
Baobab well pad is smaller and coming along well. Camp staying at Mukuyu.
Materials price increasing and delivery times are blowing out to SA and Moz due to unrest.
Likely to run 7in liner at bottom of hole and cement and plug to come back and perforate and flow test (assuming results are good). Won't leave hole open.
Post wells – production vs continue drilling, both have benefits. See what data says, like to do both cost effectively. Can bring in partners for certain things.
Retail in any future CR – last placement timing etc. meant they were restricted. Spud delay due to equipment delay and rig sign off would have allowed SPP but were working on timeline provided. Retail will definitely be retail in next future raise.
PPSA finalised – finance bill still in parliament with Act amendments. Standoff between the MPs and Finance Minister due to trying to get salary increase. Classic politicians.
Looking at 3-4 weeks until Lambo
