p2 - the story so far

Here's a quik-look at the story on P#2 while we wait on future updates,

- 7" liner was set at 4700m

- Penetrated the first 3m sand at 4710-4713m

- Cut 14m core in younger Montara Sands frm 4729-4741m. (KAR's mkt update on 23rd Dec, confirms indications of HC's within this 20m of gross thickness for the Montara)

- Cut a 62m core in the Plover (mid-Jurassics) frm 5061-5123m. (HC's indications a/a, Rep-12)

- TD @ 5356m, past the Gas-water contact

- 4.5" Production liner cemented at 5350m, (6m off-bottom).

So IMO, at P2, we have 640m of gross thickness (4710-5350m).

WL logs should have given them the net thickness (minus the shales/claystones etc) & the GWC depth.

KAR have encountered all 3 Jurassic sands which were seen at P#1, plus the Montara & have drilled past the GWC.

So logic suggests that there should b more then 1 test. One in the Montara & 1 definetely in the Plover, starting with the interval where the 62m core was cut & then another in the deeper sections.

So, look fwd to the next couple of udpates, as I don't think one test update will b enough to get the complete picture at P2.

The JV should have all the relevant reservoir data by now, i.e. reservoir pressure frm the MDT tool (which got stuck downhole at P#1), porosity, permeability, HC saturation & thicknesses, which they've acquired since reaching TD on 10th of Dec, so the focus is now on the flow-tests. We wait, for now.

Should be an interesting week (or 2) ahead for COP-KAR (& another high profile well in the NWS for WPL at Noblige-1).