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blackphantom

2,053 Posts.

17

06/08/14

07:45

Post #: 13775339
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Originally posted by gassed ↑

Love the title of the thread. Freudian slip, but, very appropriate for some of the guys who are stressed out in this forum while waiting for the (good) news.

Now, thanks to that email from Brett, it looks like they have done 30% of the well. Well, this is what that looks like:-
Atzam # 4- Initial ELAN and CMR Log Interpretation Results
Zone Depth Thickness % Porosity % Oil Saturation Permeability
C13 A 1748-1794 46 feet 15-45% Up to 53% Up to 559 md
C13 B 1806-1824 18 feet 20% Up to 49%
C14 A 1845-1860 15 feet 28% Up to 54%
C14 B 1902-1915 13 feet 13-15% Up to 74% Up to 131 md
C16 A 2464-2470 16 feet 15% Up to 58% 1,390 md
C16 B 2494-2514 20 feet 10% Up to 73% 50 md
C17 A 2772-2774 2 feet 12% Up to 90% 100
C17 B 2846-2854 8 feet 6-8% Up to 50%
C17 C 2974-2980 6 feet 8-10% Up to 80%
C18 A 3140-3160 20 feet 10-14% Up to 68% Up to 387 md
C18 B 3278-3286 Est 8 feet * *
C18 N 3675-3695 Est 20 feet * *
C18 O 3706-3712 Est 6 feet * *
C19 3736-3756 20 feet * *
Total 218 feet (incl. C18 B, N and O and C19)

The bolded part is 30% i.e. still in C18A.

Now, this is also what we have been told and what is still left.

The well has successfully intersected the primary reservoir target sections of the upper C18 (*part of that 30%) and C19 carbonates since recommencing drilling operations after setting intermediate casing at 3,600 feet. The well has produced significant oil shows to surface and fluorescence in the cuttings from drilling these sections, as seen below (pretty picture provided)

During the past week the well has drilled through the C17 and some initial C18 carbonate sections, which have generated material oil and gas shows to surface whilst drilling. (WHERE WE ARE NOW)

A full suite of electric logs were run over all the carbonate sections drilled to date from the initial casing point to current depth of 3,608 feet, and the preliminary analysis by Latin American Resources (Operator), indicate very encouraging results. Initial log interpretation indicates the well has intersected multiple pay zones in the primary carbonate targets, with hydrocarbon saturations of 70-88% and primary porosities of up to 18%.

Atzam Oil Project – Drilling Atzam #5
Citation Resources Ltd (ASX: CTR) (Company or Citation) advises the Atzam #5 well at the Company’s Atzam Oil Project in Guatemala has drilled through the C13 and C14 carbonate sections which generated significant visible oil shows to surface across the shakers and in dolomite cuttings. Background gas increased to 80% in drilling through the C14 carbonate section, indicating hydrocarbon charged carbonate systems are being intersected on structure by the well.

Is anyone REALLY trying to tell me that this well is a duster and will NOT be commercial??????

LESS THAN ONE CENT!!!!!!!!???????

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Ty Gassed
GLTA
DYOR

CTR Price at posting: 0.8¢ Sentiment: Buy Disclosure: Held
3 Upvote

0 Great analysis

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