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Great postings guys and I totally agree this should be massive but I am out sitting on the cash ATM as I am convinced a discounted placement is on the way. Got caught too many times. If I am wrong then so be it and hats off to you for your excellent research and detailed posts. Good luck. I am convinced this will come good
HeidH, SLB poured the plug so clearly it would be a high quality and would fulfil all legal requirements. The plug was placed just above the Djeno reservoir as they felt that area would of become damaged when mudding up. The plug clearly would of been tested when poured but later developed a fracture allowing significant amounts of oil to surface. This oil was positively charged and required releasing periodically to relive pressure. There was not a viable amount of oil but it did allow for some testing which provided more useful info about the reservoir including the very important fact that it flowed naturally to the surface without the need for any remedial work (frac/acid wash) or artificial lifting gear.It Is my opinion that they will most likely try to drill out the plug to re-complete the Djeno but sidetracking around the problem with a larger rig is a more expensive possibility, although clearly not drilling any deeper than absolutely necessary.
Also, clearly the rig had been de-mobbed before this issue with surfacing oil occurred
I hope this is useful
Mick, the plans for progress with 103c have been hatched and we are well on the way to implementing them. JB wants to have everything in order before releasing the forward plan but that moment is approaching. The Djeno is a fantastic reservoir which has produced many wells flowing at 5,000bopd with minimal depletion rates over 5 years. To my delight they have clearly decided its possible to re-enter 103c and produce from this formation fairly quickly and efficiently, plus Im not aware of any major problems regarding this. The master plan is due for release soon !!
Dont forget Mick, you are welcome to highlight any positive points rather than digging deeper than required to find possible issues :0)
A few not so subtle deramps there guys, never heard so many alternative scenarios banded about,most having a clear agenda, why not hold your tongue for a while and see what transpires. Buy in or get out but ffs stop these incredibly repetitive ill researched musings !,
Mick2020 - the original timetable certainly included provision for casing etc
https://ibb.co/J54KMqv
so I assume, as they kept roughly to this timetable (excluding all the delays and difficulties) it was completed.
The last Djeno section may not have been cased (maybe that is part of the problem with the plug?) as from what I understand they encountered very high pressures.
DS appeared to suggest originally (from what I recall reading) that the amount of mud pumped into the well may have damaged the drilled formation to prevent it producing, however he seemed to change his mind when oil came to the surface.
“plug had fracture which allowed enough oil through to provide reservoir info but not viable to produce from. The seep through has been studied for weeks now and measurements taken daily which provided useful stats.”
Can anyone point me in the direction of information RNS’d about this failed plug ?
I can only logically assume that it failed latterly, as you require to pressure test a plug post placement so as to ensure that it is effective.
Additionally, how do they know that it is fractured, as to passing up the back side annulus through channeling having potentially formed during placement.
I would be surprised if they were permitted to perform any form of production from the reservoirs above it prior to rectifying the issue, and if the rig were still on site at the time that it was identified to be passing that they were permitted to suspend the well prior to rectifying the failure.
I appreciate that the well is in Africa rather than the North Sea, but never the less there are still global well control standards that require to be met.
Yeah amazing, but still flopped SP ????? Get a grip!!!!
Hmm... amazing indeed.
Well, thanks for replying Tiptop,
Has the company provided more information about the drilling ops in 103, apart from what was mentioned in the RNS’es? I think the information is VERY sketchy so far.... To me it looks as if the company simply drilled the 12 1/4” hole to TD without setting a casing (or intermediate liner) between the Mengo and Djeno. This will complicate remediation I suspect.... especially with potentially heavy cross flow from the Djeno into the Mengo.
Perhaps not such an obvious opportunity afterall....
Sorry all , busy week this week.
Well well. Hello Mick.....who'd of thought we would end up on the same team ;-).
From memory production liner was run , no regs on co-mingle but Djeno very different to mengo and R zones so require remedial work prior to production (besides Djeno produces with far too much pressure/flow rate to consider co-mingle), plug had fracture which allowed enough oil through to provide reservoir info but not viable to produce from. The seep through has been studied for weeks now and measurements taken daily which provided useful stats.
Hope this helps a bit . Sorry its brief
Morning Irish, that’s a while ago.
As you have been in this share for a long time already, can you tell me if the company ran a liner in TLP 103? It doesn’t look like it, but the company is not very clear on it.
Also, do you know if there are regulatory restrictions to commingling production (between Djeno, Mengo and D3?)
Very unusual that the plug back failed to isolate the reservoirs.
If commingling is prohibited, then the company could face a fine.... on the positive side, they will be forced to do something about it quickly. Where is the rig?
+1 mick2020
Morning Mick.
They say never fall in love with a share. .BUT I come very fond of my AAOG shares
I like a challenge and when my pay day comes here it will taste that little sweeter :-)
Watch out for d3gsy selling and trolling the BB. Give it 2 weeks ;)
While I normally can’t stand any hyping up (I’ve had lots of arguments in the past with some of the characters posting here as well) I think the criticism here is going to far. At this price the company looks attractive to me. Sure, the company will need more money in future, but with at least two potentially very promising opportunities (Djeno and water injection) who cares?
Bought some shares yesterday.
Oversold on all indicators and now we have confirmation 103 will be used to produce the deep djeno. Already drilled and very advanced.