Preliminary results of Cambay-77H flowback and production testing are encouraging. Oilex Ltd (ASX: OEX, AIM: OEX) announces the preliminary results of the flowback and production testing of Cambay-77H. All proof-of-concept objectives have been achieved and the commercial development of Cambay Field using multi-stage frac technology is feasible.
Cambay-77H was designed as a Proof-of-Concept well with a short 350m lateral Initial production over a 24 hour period of 2.03MMscfe/d, 55% hydrocarbon liquids An oil to gas ratio ("OGR") of ~100 bbls per MMscf of gas in the Cambay-77H area remains valid - some 250% higher than extrapolated from Cambay-73 Increased OGR adds ~40% revenue per MMscf of produced gas using price assumptions of US$8.00/Mscf and US$70/bbl for gas and oil respectively Total production during flowback and testing - 62.3MMscfe Total operations water recovered - 23,732 bbls (88%) - no formation water has been identified during flowback and testing Managing Director of Oilex, Ron Miller, said;
"Oilex is very pleased with the results of Cambay-77H flowback and test. With all the proof-of-concept objectives having been achieved, a significant milestone has been reached towards creating a profitable and sustainable business. It is also a first step for India, towards improving its domestic petroleum supply by using multiple fracture treatments in horizontal wells that have transformed the energy equation in North America. Oilex is proud of its first mover position, competitive advantage and achievement in initiating development of tight oil and gas using this technology in India."
The key field results from Cambay-77H flowback and production testing are encouraging. The sustained initial 24 hour rate during flowback was 2.03MMscfe/d, comprising 55% light oil/condensate with concurrent operations water production of 1,867bbls/d. Flowing wellhead pressure was 1,261 psig. Rates are presented in energy equivalents converted at 5,800 scf of gas per bbl of oil because the well was originally designed as a gas and condensate producer.
Total hydrocarbon production was 43MMscf of gas and 3,372bbls of light oil/condensate (sold to a local refinery), giving an energy equivalent figure of 62.3MMscfe. The maximum liquid hydrocarbon to gas ratio was 349bbls/MMscf with an average of 77bbls/MMscf, likely governed by the well bore tubular size impacting the flow regime.
A total of 27,631bbls of operations water (frac water and coil tubing operations water) was used with 23,732bbls, or 88% recovered. The maximum recovery rate was 3,101 bwpd and no formation water was identified during flowback and testing.
Use of data
Oilex has the first, and currently the only model to be successfully calibrated using actual production and compositional data from a multistage frac'd horizontal well in the Cambay Basin.
The flowback and production test data has been used to analyse the performance of
and one more thing adams, neither do i ask people to trust me or try to prove how honest i am
i try and post with an evidence base behind me, for example all my numbers posts today are from the RNS and extrapolated from there, I show how i get to my answers, people can therefore decide for themselves about the results
your theories are based on trusting you becasue you have all the details in a file, hardly the same thing.
lol, who are you? this is the oex board, and that means anybody can post a fact an opinion, to help people in their decisions as many times as they choose, whether the timing or the facts suit you or not, night honey
i wasn't embarassed at all lol there you go making assumptions again, I got the dates wrong, hands up, you got me lol
as for reporting you, yes i did and if i report people i post and tell them why, i don't do it in a sneaky anonymous way, if i have a gripe with something you post that i report i'll tell you why, and that's exactly what i did.
as i have told you before anything else you have been banned for has nothing to do with me, believe that or not, water off a duck's back mate
maybe it's time you got over it and moved on, you seem a tad bitter about it.
hey all can someone think of a reason magna would buy a stake in oilex and then increase it? they aint gonna get any divi's so they prob either banking on a buyout for them to make money or they waiting to take out the company, £5million in oex is not earning them a penny and my personal view is that they with a partner will look to buy out oilex and i think that time is going to come soon, why else would yo park 5 mill here?
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