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Redhead,
I don't have to imagine UKOG keep telling us.
The information we have had over time is that the horizontal could produce (sometimes relative to 362bopd, sometimes relative to an unspecified flow rate of the vertical well) 2 to 3 times, 2 to 3 times or more, 2 times and now the wording since 30 September is 'significantly more than 362bopd'.
and we don't even know if they are target initial test rates or projected initial or sustainable production rates.
So does 'significantly more' indicate more than 1 times but less than 2 times 362 bopd. If it means 2 to 3 times, or even more than 3 times why have they changed the wording? Seems it's similar to 2 to 3 times 220 bopd. Maybe they just don't dare say significantly more than 362bopd to maybe 5 times.
As you say we don't have the data to determine be what the flow of the horizontal might but presumably UKOG have tried and this new wording post dates the change in length of the horizontal.
Redheadedrager,in full agreement about the chocalate soldier,as probably a lot more here will agree with you,if he is a share holder it is probably 1 share,this allows him to attend share holders meetings etc, a charlatan supreme .GLA
It was Pizza Boy aka Tom Winfrith on Panorama last night - swear to goodness he had paint all over his slacks. . . Looked a sight . . .
Honestly Penguins
For someone who claims to be invested you do an awesome job of sowing seeds of doubt and despondency in this bulletin board.
Funnily enough if someone flips it around and considers that if the ‘lions share’ layer is easily producing 220 barrels per day in a restricted mode from say the 12 ft thick layer that you postulate, then can you imagine what over 3000ft exposure to that productive layer could generate?
I’m sure that you’ll be quick to come back with a myriad of hypothetical technical reasons why it could never be more than an eggcupful . . . BTW did anyone see pizza it on Panorama last night? What a shambles he is.
The thing is you don’t have all the data. None of us do. So hypothesising why it could never be as good a some think it could be is equally as baseless as those arguments that you shoot down as being overly optimistic.
Cheers
Red
Applegarth,
why hasn't the market appreciated how good this RNS is? Perhaps this bit of the RNS gives a clue:-
'indicate that the "sweet spot" has likely contributed the lion's share of the 29,568 barrels of Brent quality oil produced to date from Portland extended well testing'
The Nutech CPI of the Portland in the 2018 Xodus CPR has he Nutech generated logs that are effectively 'sweet spot' identifiers on the left and right of the CPI. This zone is also where the water saturation decreases as does clay content, and is the only zone where the gas reading has a strong peak, very low (background) above and dropping rapidly then tailing off below.
If this zone is the sweet spot it's about 12 feet thick so it could be that a lot of the Portland has contributed very little to the ewt in HH-1 suggesting it isn't actually reservoir quality.
Perhaps the variable quality of the Portland has produced a series of intra formational seals which has resulted in the possible deeper OWC - but whether the additional OIP, or a significant amount of the OIP not in the 'sweet spot' layer will actually contribute to the volumes connected to the horizontal and thus available for recovery is an uncertainty.
Uncertainty is not what any major investor wants - but it may be an opportunity for private investors with an appetite for risk.
It's interesting that calculating a volume of oil in the HH block in the 'sweet' layer alone using P10 figures gives a figure within the range of connected Portland oil quoted by UKOG (11 to 14mmbbls) - food for thought.
I'd have thought the HH Rns should have at least got us off our BACKS and back on our KNEES where we always were...?
Evidently the market does not agree. Ridiculous, this is like betting on 39 horses in the National and still not finding the winner
seadoc
T o save you looking it is in the planning documents the same as most other things are. 4 1/2" slotted liner in 6" near horizontal hole.
Hi Seadoc.
So no alteration to the current well setup apart from the gas to wire that you mentioned? Would they not look to put production tubing in to try and get increased flow? Cheers Welsh
Are they going to alter the existing piping on HH1 to turn it into a full production well from a test well or is it simply a change in terminology please? If it's a daft question I apologise, but need to try and get clear in my head. Cheers Welsh