they said the pump would go on when the production dropped to 400 bopd. it is now 250 bopd so i rather imagine one can believe the pump is on. the rate does not necessarily tell us a great deal about the size of the reserves. it tells us quite a lot about the permeability of the reservoir and the strength of the water/gas(?) drive, since if it is stabilised at 250 then this means that the downhole pressure around the well bore is now more or less constant and the migration of the oil from the more distant parts of the reservoir to the well equals the production rate. there are numerous examples of low perm oil fields that have very consideable remaining recoverable reserves that will produce for many years but only at low rates per well. mereenie itself is one of these. water cut would give some idea of ultimate recoverable but this is not available.
trust this helpful.
CTP Price at posting:
38.5¢ Sentiment: None Disclosure: Held
