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hydrogen, I am fairly sure that the horizontal at the Amungee H1 was drilled to lateral length of almost 1 km. However, about 1/3 of the way in - the drilling crew ran into fault (kind of like a fold in the quartz rock formation) and had to geo-steer the horizontal pipe down and around that fault -- then back up into the center of the mid-Velkerri. This fault zone in that one small area of the mid-Velkerri eliminated any fracture simulations for about 300 meters before the fractures were re-initiated after bypassing the fault. The good news on that front was the ability of the drilling crew to navigate around that fault while sitting in the command center about 3 km's up above that fault, and the fact that the Amungee flowed at 1.1 million cu. ft. per day from only 600 meters.
All-
POQ should be most embarrassed by today's poor reaction to "his"good news announcement. He did try to get some credibility by asking one the directors to comment, but that seemingly had little to no effect. I genuinely believe if Origin had made an announcement of the start of the horizontal procedure, the price would be doing better. Obviously, the seller is still around and I still have 200,000 shares to buy during this period of misery. Poods
Wet, perhaps POQ will address that tomorrow. Thinking about it, I believe that is the same parameters put out previously, so perhaps they are adhering to their tight hole regime. I'd like to see where they finally end up, and at this point, I'm assuming they are now wanting to see a strong statement re commerciality of the well to add political pressure for the Beetaloo.
Not a drilling pro at all, but my guess it might depend on economics. I read that horizontal is 3 times the cost of vertical drilling.
Darnit: That was my exact comments to another investor. That's a wide spread to allow yourself. They must have the drill pipe, tubing etc. on hand to drill out to what every distance they plan. I really look for it to be closer to the 2000 meter since it was mentioned but that is just a guess on my part. IMO the longer the lateral the better indication one can get of the potential - maybe if the Kyalla is engineered to be a test well they just want to see enough for proper evaluation. Maybe someone can ask that tomorrow at the AGM.
Wet,
Happy to see the announcement, as it clears the way for a more in-depth presentation and Q&A by POQ tomorrow. What strikes me as funny is they are saying either 1or2K meters for length. Honestly, do they not have a better plan than to be drilling and still not knowing how far they will drill????????
Somm: Sorry guy but 'have commenced' is not the same as going to be commenced. My information was that the horizontal was already being drilled - no I don't know for how long it has been drilling. You may not realize it but the Kyalla vertical was actually begun prior to the announcement that it was being drilled - I think it had to do with insuring tight information just as was done on the Amungee well. You are trying a little too hard to prove yourself smarter than you actually are.
They must have read my post yesterday :-)
Just shows though that those who said the horizontal drilling was half through or was be drilled already don't have a scoobi doo.
Now the horizontal drilling has started today I'd guess a couple of months or more to complete.
Newtofo: Never got an answer on the water study etc. question on the DFIT - seems no one cares since it will not be impacting Falcon in the future. Concerning a DFIT there was one performed on the Kyalla for what it's worth. Also in my questioning I verified what others have mentioned - a proper core analysis takes from 3-6 months to perform. In the Kyalla case Origin has preliminary data from the core which will tells them what they need to proceed. The real benefit of the full core analysis is useful in future Kyalla completions.
As Orson, BO and others have mentioned, the horizontal section of the well is currently being drilled. We got our horizontal announcement when Origin announced they were immediately proceeding with the horizontal - that was a much bigger, more important bit of news that some may have overlooked - Origin saw what it needed in the Kyalla to announce the quick decision to move forward. The next expected news release will likely be when fracking begins which is a given - you don't ever drill a horizontal without fracking. After fracking I would look for a short 24 hour flow test announcement after the well unloads followed by maybe an operational release and then the final EFT results after about January/February of 2020.
Anyone in Dublin needs to keep their ears to the ground at the AGM - I expect there will be bits and pieces of the Kyalla well data that have not yet been announced - POQ doesn't want all his thunder stolen! Maybe someone can pin POQ down on the possibility that if stage3 wells target the Kyalla or the Velkerri wet gas what becomes of the Amungee well if it's felt no one wants to pay up for contingent resources - specifically does Falcon continue on with participation in a couple of more stage4 wells to prove up the commerciality of the Velkerri dry gas..
Thanks for the weather forecast link Newt. I was horrified to see the max temp of 43C which is even hotter than Vegas in July - the hottest I've ever experienced. My sympathies are with the workforce in what must be unbearable conditions.
somm, if you read back a few days on the posts to this board -- you will see a excellent post from Orson Modesto, who works in the Bakken fields and knows the fracking process. His post a couple others fairly clearly indicate that the press release by Falcon on October 20th is correct and that the horizontal section is fully underway. There will be further confirmation on that at the AGM this week, that I am hoping jfhealy or others may be attending and can report back to the board for the rest of us that are a bit too far away.
This downdraft on the share price is also happening on the TSX with about a 5% drop so far, but nice to see almost 2 million shares on the bid at that price. This is typical December selling on the TSX with some shareholders taking a loss against other shares that are up -- only to repurchase their Falcon shares 30 days later -- (especially given that any news on flow rates from the Kyalla 117 will be at least 60 to 90 days away).
Some good news on the drilling front -- as the following link shows the weather in Daly Waters is dry and sunny for the next seven days. Save this link and click on the Daly waters black mark on this map every week to follow the weather over the next couple of weeks when the fracking equipment should be moving onto the site. Once the frack is complete -- it doesn't matter how wet it gets in January through to March -- as the flow back testing can be done easily in the wet season, but the clear dry weather currently is a bonus for getting the dozen or so big pumping trucks on site.
http://www.bom.gov.au/nt/forecasts/map7day.shtml
jhealy-
Since the stock did nothing based on that presentation, why waste time re-showing what probably is nothing new to most? Would really be nice to have an Origin rep there to tell us in person about the progress. In the meantime since share price is back to my cost I have been adding, including another 100000 Friday and today. So, 200000 left to complete what I said I was going to do about a month ago. Here's hoping just like all of us, but not holding my breathe.
Wishing I had a few shekels to spare, but I keep tellin' myself I'm topped off (probably more than I should be, too) ;-)
It is like Christmas coming early , getting the opportunity to buy at this price two days before the AGM , no bad news expected and we will probably be given an opportunity to view last week,s presentation ,Happy Christmas to all on this BB
I guess they're still testing the vertical section before they start drilling the horizontal section?
Nearly three weeks to fully analyze vertical section?
Or have they started drilling the horizontal section?