Good research as always VOGC. I'll add that there is nothing in...

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Picko99

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25/03/22

12:56

Post #: 60422976
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Originally posted by VOGC: ↑

Hi All,

Was queried over the last few days, by friends invested in MAY, about the Alameda-1 well having stopped drilling but as mentioned by AP the Marti reservoir section was still experiencing oil shows. This situation is not uncommon when drilling exploration wells for many reasons. It also doesn't mean that the company is not able to calculate, very accurately, the depth to the oil water contact (OWC) through analysing depth pressure gradients, and thus establishing the thickness of reservoir that is oil charged and have this information used for calculating reserve estimates. I've put together a quick review explaining how this is generally done (Slides below).

I'm expecting that if reliable pressure data can be obtained during the wireline logging (which shouldn't be a problem) that MAY will release the depth to the OWC for the Marti reservoir section. This would then provide the true vertical thickness of the oil charged Marti reservoir section not just the interval intersected in the well. From my first post in this Thread, I'm still confident / hoping that the Marti reservoir's OWC will be in the vicinity of 4,200 to 4,300mMD.

Currently, in the Marti reservoir section, MAY have quoted gross thickness of 300mMD and 245mTVD (the true thickness) that had good oil shows while drilling. With the well's total depth at 3,916mMD (ASX 17/3/22) and based on the Marti-5 results - here's hoping for a further 200 to 300mMD of oil column?

In the first Slide just ignore the Capillary Pressure graph - deals with a different issue.

GLTAH
Cheers
VOGC

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Good research as always VOGC. I'll add that there is nothing in those logs (IMO) that indicates an OWC and, knowing how badly they butchered the reservoir in the Marti well, the contact could easily be deeper.

MAY Price at posting: 15.5¢ Sentiment: Buy Disclosure: Held
8 Upvote

0 Great analysis

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