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With the likes of USA numero uno Exxon next door our advancement may come
from an outside source , their results and if they establish on their land a very
nice reservoir but they have the tail and we hold the main body on our land
they will probably play the Godfather music and make us an offer Arty cannot
refuse
The pace of their development will be much quicker than ours so expect us in the
early stages to benefit from their regulatory news announcements also
:))
Shaa
as posted a few time the Wyoming Geological society lists 13 production layers in the
Powder River Basin , some oil some gas some a mix
The 6 layers in the recent drill might not be the end of it, we could step out in the opposite
direction and get another drill with 6 layers but not 100% they would be the same 6 layers
Think I said months ago , Arty would be pretty unlucky with those odds at least 13 layers
be like falling into a barrel of tits and come out sucking his thumb, if only the Shannon lol
:))
By the look of it, Atomic is sitting on a large oil blob, picture will get clearer as time goes on and SP will go northwards.
Just need to ride out this buying/selling storm.
would be some news if they have analysis that another layer is worth not
putting the well into the Shannon
Could only mean the layer they are going for is a jackpot , what an rns that would be
decided to do an offset horizontal into layer X
That would be indicating a very large increase in reserves coming and reserves = base
value $ increase and as we are a producer even higher than that minimum baseline
:))
each development well will not just increase production but also develop the multi
layer plays
If we iare surrounded by Majors they may well be eyeing us up already for a takeover
Just waiting to see what Arther comes up with?
Thanks LB, that takes us to end of September, news flow of plenty coming in the next few weeks.
Just need Nigerians to get their finger out.
he did said it was in the message 3-4 weeks and the 3 would be up on Tuesday
:))
"big sweat spot"
Thanks HFB, so we might hit a big sweat spot, additional BOPD a possibility then, great.
It’s all ours, on our land and we have expertise and equipment nearby.
Atomic, could get bigger and bigger - probably won’t stay under the radar of majors much longer!
Unfortunately it was lost in a much larger RNS, was important enough for its own RNS.
Missed one important point, they declared it a discovery = found oil
how much and the rest T.B.D
:))
sure a couple of others will give you a more technical answer Shaa but in short
the drill completed , discovered 6 layers oil sands that they can now investigate
chances of more than one or two being a sweet spot low
They now have choice do quick and dirty tests or depending on the preliminary data
thickness of layer and level of oil staining during drilling could opt to do EWT , not
often the case in the USA as usually known layers and they like to put into production
asap
at this stage be surprised if they opt for other than quick tests on each layer with 2 or
3 different chokes and then connect the Shannon into the current production string
another addition to the Miscible flooding plan
They are set to add many additional wells over the next 18 months, expect them to step
out and also drill to test additional secondary and tertiary targets each one building up
data and defining the layers on our acreage with some seismic
Once the current Shannon sorted , they can then start cherry picking sweet spots determined
from analysis and develop them would expect optimised directionally with huge Horizontal
laterals through the reservoirs
Vertical might only cut 60ft, lateral 2000-4000 typically some longer all exposed to the reservoir
hence prediction rates for Horizontals in the USA x 3 to x 5 the flow rate of a vertical on the same
field
Best one I read about was x 12 but as they say you never know until you flow , fyi way back the
Russians got the shock of their lives when a VERTICAL well gushed over 50,000 bopd at a field
near Baku
Previous drills had thrown up to 3000 bopd they found the sweet spot by accident in them days
no seismic or other real mapping tools available , just throw it into the ground and hope lol
:))
Any oil person(s) care to explain what this means in layman’s terms, is there deffo oil there? 6 Oil bearing sands? Are we actually drilling or testing?
Thanks.
Oil discovery at the 100% working interest Barron Flats Federal Unit (Deep) exploratory well expected to open new field developments. Six (6) oil bearing sands totalling 246' (net porous sand)/282' (gross sand) intersected. Production casing is currently being set to total depth of 9,220'.
Arthur Millholland, President & CEO, commented:
"We are excited about our 100% owned Barron Flats Federal (Deep) oil discovery announced today. Our next task is to test all six of the sand intervals through casing over the next several weeks. This well is a testament to our team which identified substantial upside below the Barron Flats Shannon Unit, further demonstrating the value of the Atomic acquisition to COPL. The Company's enviable block of leasehold as well as its production facilities will allow for additional significant oil production growth. Associated gas production from these reservoirs will be utilized in our miscible operations thus continuing with the Company's net zero gas flaring production operations."
Do we think we may hear something by end of September?