Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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All of which is still clearly only one variable in a much more complex calculation that presumably factors in pressure too... given that 1100 is not 4.3 times bigger than 700
Pie r squared ;-)
Oh, cheers...
Long time since I was at school,when I did bother going. I did say if it was only that simple!
Thought you was saying my basic maths was incorrect. Correction appreciated.
The area of a circle with diameter 0.75 inches is 9 times bigger than the area of a circle with diameter 0.25 inches.
Well, leaving fluid dynamics aside do you remember from school how to calculate the area of a circle?
closettrader..
always happy to be corrected...please do so.
Cheers
A bit of bernoulis principle maybe.
A lesson in maths required here me thinks
The gas in the oil is maintaining the pressure. Some crazy calculation along with physical testing will provide the best flow rate for longevity. Empirical data blah blah. What we do know is it’s results and performance so far are indicating the field is much better than ever dreamt of. Straight up positive growth not the usual wishy washy ukog hh type of guff we usually get. Plus this funding has come as a result of positive results not a dangle the carrot scenario selling a dream resulting in a CLN death spiral to keep the lights on. Let’s see if we any tr1’s to back our enthusiasm that would ignite the touch paper for sure.
But of course if a reduction from 1/4 inch to 1/8th does not produce a reduced flow rate of 50% its obviously not that simple.
so a 1/4inch produces 1100bbl/d.
in theory 3/4inch 3300bbl/d
Variable Flow Choke Valve
This type of valve is generally a type of extremely large needle valve. It has a calibrated opening for workers, so the device can be customized using 1/64 inch sized measurements.
Variable flow choke valves are very expensive; and are typically made of stainless steel, steel, or tungsten carbide steel. Since the valve requires the ability to tolerate the high speed flow of the various abrasive materials, a high quality steel must be used. In most cases, this will help safeguard against damages for several years.
Due to financial reasons and the productivity volume, ¾ inch valves are most commonly used. However, high productivity wells typically require variable choke valves of 1 inch or more.
Each valve is carefully marked to identify the specific opening size. You can indicate the size of a fully open valve by the last number. For instance, if the valve is 32; it is 32/64ths or ½ inch.
It is important to keep up with all aspects of the well. For instance, if there is any paraffin or salt water in the oil, it can cause the opening to clog. Therefore, it is recommended to periodically have the choke open to higher settings for short intervals; followed by periods of opening and closing it back up. This allows the well flow to clean out the seat and eliminate any buildup gathered within the variable flow choke valve.
On occasion, this type of valve can be set to productivity speeds permitting water to collect at the base of the well by dropping back down through the tubing string. As the water pools, it will slowly start to prevent the oil productivity; and at times, can even destroy the well.
When this occurs, it will be necessary to use a swabbing unit to swab from the tank battery to the water blanket in order to obtain proper flow. Increasing the flow rate in the choke by widening the opening for short intervals can help to prevent this issue.
"The rate of 1,100 bbl/d produced through an 1/4 inch choke significantly exceeded the Company's target rate of 325 bbl/d, triggering an immediate requirement to upgrade production infrastructure. While the Company addresses production capacity and offtake requirements, the diameter of the choke has been reduced as of 13 April 2019 from 1/4 inches (~6 millimetres) to 1/8 inch (at just over 3 millimetres, the smallest size possible), scaling back production from 1,100 bbl/d to a rate of around 700 bbl/d".
SO what will this produce when the valve is opened.
1/4inch and 1/8th inch is indeed considered small.
6mm choke seems small or isn't it?
Wouldn’t surprise me seeing results to date are multiples they expected.
BLOE haven’t disclosed the full gas figures for 16a yet have they. Only minimum ?
We are in the process of piecing together a full operations update ...
AJW again my thanks sir.
O&G is a new play for me, although I have many friends in the industry, and I profess to relying heavily on the research of others to draw my conclusions.
I’m aware of the risks and limitations of such a strategy and realise I’ll always be half a step behind but this doesn’t make it necessarily any less profitable.
I am looking forward to this story unfolding
AJW thanks very much for your response and indeed all your shared research.
I am a little disappointed at the dilution subsequent to the placing, indeed feel it could have been at a better level for existing shareholders, but hey ho if it gets us where we need to be quicker, then that’s fine with me currently.
I was a little concerned at the delay in starting 38 and had assumed the rig was on its way to commence. I now seek clarity as to the changes in strategy which I can only assume will put us in better stead but need stating.
I can’t help but wonder if the capital raise was precipitated quite suddenly upon the dust settling after the success of 16...... I hope we find out this week.
Aside, are you on Twitter?
CFC, was there an indication when the Ops Udate might occur?
One might assume it will be after the EGM.........unless you have an alternative supposition
Some translations say New Ventures Inc , don’t think it matters too much - I’ve asked the question to Paul as to whether this has impacted a delay to Well 38 - it was amongst a series of questions - his reply was - the ops update would answer all my questions
Ian
AJamesW - do you know anything about this?
https://drive.google.com/drive/mobile/folders/1zhc1uP5WOFvGSn4NMmUyT-7AO8bNtiTY