GGP 0.00% 0.6¢ golden gate petroleum ltd

whats going on?, page-32

  1. 8,074 Posts.
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    Peace and love LoveCCE.

    Okay Love.
    Now to be fair I do not think that I have ever denied that the Cib Haz layer was a primary target or, in one sense, THE primary target

    Obviously it was a target when they drilled Jumonville #1 but were not able to get down to that level through a mishap.

    So the ambition when they came to drill Jumonville #2 was to get down to the 14,000 ft mark to test the Cib Haz. In that sense it was the primary target. That was the number one thing they wanted to be able to do was to get down there and see what was there.

    That is quite clearly contained in this comment from the 28 August 2008 announcement when talking about the success of the Miogyp discovery at J #1 and future plans:

    "Demonstration of a working hydrocarbon trap substantially
    increases the probability of success for wells in the deeper Cib Haz reservoir, which is another primary target for exploration wells at the Bullseye prospect."

    You will note the phrase "which is another primary target"

    So in their thinking about Bullseye the Miogyp and teh Cib Haz were essentially the "primary" targets.
    The Camerina is frequently identified as a secondary target.

    Therefore while the announcements that you refer to in your post are consistently using the same phrasing about the Cib Haz being the "primary" target in the J #2 well it has to be kept in mind what the overall context here was.

    In fact if you look at one of those announcements (6th Jan 2009)you quote :

    "The Jumonville #2 well targets three objectives: the Camerina, Miogyp and Cib Haz Formations. The primary
    target in the Jumonville #2 well is the deeper Cib Haz reservoir which is contained in the same hydrocarbon
    trap as the shallower productive intervals. Although deeper than the proven Miogyp reservoir and apparent
    pay in the Camerina section, it is considered to have a high probability of success, but is considered an
    exploration target since it has yet to be tested."

    Note that while it is referred to as a "primary" (which I do not dispute) it also identifies it in this fashion...."is considered an exploration target ... etc"

    So while they did not refer to the Miogyp as a "primary" target in the announcements while drilling J #2 it was always viewed as a "primary" target in any drilling at Bullseye.

    In fact it is possible that we have the use of the word "primary" in two slight different senses and there fore it becomes slightly confusing.

    (1) On one level we have the use of "primary" to mean "the most likely top producers". So the Miogyp and the Cib Haz before drilling ever began were regarded in that sense. Other possible hdrocarbon layers were identified as "secondary"

    (2) On another level we have the use of the word "primary" in the sense of "main focus". So when it came to drilling J #2 then the Cib Haz layer was a "primary" layer in both senses.
    They wanted to get down and test the Cib Haz. That was their number one focus first and if that did not work then they could fall back to getting production from a proven "primary" layer in the Miogyp.

    Now perhaps I was supplying the qualification mentally myself all along the way from the comments from the drilling of J #1 and therefore got into thinking that it had been mentioned in recent announcements that the Miogyp was also a "primary" target.

    So I accept that it is not directly said that the Miogyp was a primary target for the J#2 well but it was always viewed as such by GGP.

    I hope you can see the logic involved here
 
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