PSA 0.00% 2.1¢ petsec energy limited

vermilion #1 a disappointment?

  1. 10,525 Posts.
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    On a closer look at yesterday's annoucement,I'm wodering if this first well is going to live up to expectations.We know from the slide presentation that the most productive sand(the G sand) is yet to be reached but that it's expected to yield 7bcf from 45'(13.5 metres) of net gas pay and we were told yesterday that shallower sands totalling 43' to 50'(13 to 15 metres)of net gas pay have been discovered and assuming they also hold 7bcf then that would total just 14bcf from this well that was targeting 21bcf of gas(as per slide presentation).I suppose we have to wait for a final well report next Mon/Tues for the full details.
    As a comparison the three West Cameron wells last year discovered the following pay zones-
    WC 343 #A-17 discovered 18 metres(59') of net gas pay.
    WC 343 #A-18 discovered 41 metres(134') of net gas pay.
    WC 352 #A-13 discovered 23metres(75') of net gas pay.
 
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