G1lo, it is really strange as you say mate.... yesterday when I looked on the site below I was on the phone to a friend and nearly dropped the bloody thing lol .... I am really not sure what to make of it, but as you will see form the site below it's showing 38.62% up.... really strange... you may have to refresh the page a couple of times to see it ...
he said, 227 BFC of gas has been calculated as free gas – gas sitting in the pore space, per square mile.
“So think about that in terms of 10-20% recovery factors. If we were able to drain these with vertical wells, let’s say eight vertical wells per square mile, you’re talking about huge recovery rates, and therefore with our well costs getting lower and lower in Poland and San Leon’s operating capabilities getting stronger and stronger by the day, it’s a huge positive.”
As for what this said about Poland’s Carboniferous play, Mr. Buggenhagen said it showed it was a very viable play.
He commented: “The great thing about the Carboniferous play is we’re sitting in the middle significant gas infrastructure, so all of the problems that people have had in the Baltic basin and other places are avoided.”
However, he added that he had not lost any of his enthusiasm for the Baltic basin. “There’s huge potential up there!”
In connection with that, Mr. Buggenhagen explained of San Leon, “Part of our strategy is to build and diversify our exploration portfolio. We don’t want to rely on any play to make or break this company, and I think it just shows that that strategy had paid off for our company and that there is another viable play in Poland (the Carboniferous) that nobody’s really considered and because of that, we basically picked up all of the land: we have over 2 million acres in the Carboniferous play.”
One could do the math, he recommended.
“Let’s say that 20% of that area works and 20% of my gas in place gets recovered – those are huge numbers.”
According to him, San Leon hoped to tap into that gas with vertical wells, but that had yet to be determined.
“Tight gas should be easier than shale gas,” he explained. “It’s kind of between shale gas and conventional gas.”
He reported the Carboniferous play had very low clay content, very low water saturation and a very thick gas column.
“All of these suggest we’ll be able to use vertical wells will be able to drain them,” he said.
this is mallorcas post...san leons % would be worth billions and someone else is doing the work..the monies sle have in the bank will give them monies to do wells of their own while others are proving up others..
mallorca Posts: 101 Off Topic
Opinion: No Opinion Price: 2.49 View Thread (2)CarboniferousSun 22:54Either I'm getting hold of the wrong stick or there's an error with the maths on this one. . 290Bcf per sqm of which 227 is free gas and assuming a 10% recovery rate equates to 22•7 x 1,426 sqm = 32Tr. Assuming £6,000 per mmcf that comes to £194B. . San Leon's share of that would be aprox £68B. If the recovery rate were to be 20% you can double that. . . That's a lot of money!
san leons concessions are massive they have extensive acreage and any 1 of them could be a company maker..to me its better that the risk is over a large acreage coverage than just 1 like tpet and many more on aim..that is the difference between these companies and sle..their acreage is vast over Poland/spain/france/Albania and morocco..
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