The Sibkrayevskaya No. 372 well at the Sibkrayevskaya prospect located in the north east corner of Licence 61 was spudded on 9 July 2011. It was a follow up to well No. 370 which was drilled in 1972. A comprehensive re-interpretation of the vintage well logs and drilling data from the 370 well using digitalised logs and modern interpretation tools had indentified potential "missed pay" in the Upper Jurassic J1 interval. In the new well, No. 372, the Upper Jurassic J1 oil reservoir horizon was intersected as expected at -2,350.5 metres true vertical depth. Preliminary evaluation of the logs indicates that the J1 interval consists of 12.6 metres of net pay with good reservoir properties and oil saturation throughout, exceeding pre-drill estimates. An open hole test was conducted over this interval and tested at a pro-rated inflow of 170 bopd unstimulated. Based on preliminary analysis, the oil is of good quality with an API gravity of 37 degrees, which is consistent with other fields in Licence 61.
Sibkrayevskaya is a very large structure which will require additional seismic and well delineation. The 372 well was drilled in a flank position on the structure and current mapping shows an area of over 50 square kilometres up dip from the oil-down-to level defined in the well. Current indications are that the ultimate recoverable reserves in the field could be significantly larger than the 44 million barrel pre-drill target defined by Ryder Scott for the prospect. The discovery also extends the area of known oil to the northeast corner of the license area and improves the prospectivity of other structures in this area.
The info is there if you look for it,ptr have some very tasty assets going for them an the company is far stronger now than when they valued over £1 per share.They could easily be near to 5000 bopd by end of this year IMO.
I think that this is rare opportunity to get in at a really great price.I have gone in 3 times today and still reckon these shares are cheap.Anyone who is dithering is going to lose out (imo. Good luck to all
Sometimes level 2 can help but the mm,s hid those large buys today by publishing them late,i think looking at those bigger ones that an II has grabbed another 30m shares here today under 5p.Next holdings rns will show who got them but could be one of recent placees.
ii sells.. price dropped.. pi's buying cheaper and now sp rising again.
One of the few occasions pi's get to win if they can hold their nerve.. ii's can afford to get impatient and move swiftly to other shares. (Selling in winter just a silly.silly move,should have done that before Xmas...don't they get the plot of winter follows Autumn,things get cold,freeze up,cause harder working conditions)
Now we buy,wait for fixes and improving weather and production then cash in.simplez :)
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