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Brom,
superseded on the 20/4/20 with,
"The Torok, Seabee and HRZ all remain prospective targets at Project Icewine, albeit not without risk,"
Risk...... without risk.........risk....ummmmm without risk. That's speak for "look over there" in the meantime.
Remember the last time that Icewine results came back with the beakers of oil l(albeit leached under pressure with toluene) and the share price boosted, 2 years later, bitumen.
Believe not what we are told
LeMajor,
I always smile at "Heavy Plant Crossing"
TP
14:45 we were actually told about the toluene in the ANN and I can remember the process being explained here by I think SPoiler , like you I have looked at the well report too
HRZ may in time prove itself but we are a long way off at the moment and we desperately need success in conventional projects.
But I have not closed my mind to HRZ completely and will await next news with interest.
Brom 13:47
I'm thinking any future news on HRZ, will be dependant upon imminent updates, expected in the month of June, if everything has progressed according to plan.
From his ANN 20th April we read;
Over 280’ feet of net pay is interpreted over the Seabee, Torok and Kuparuk formations, which compares favourably to pre-drill expectations; however, confirmation of rock properties and saturations by lab work is required. That work is currently underway and, once completed, will result in a revised prospective resource. Of particular interest is the pay interpreted over the Lima prospects in the Seabee formation, despite both being intersected in a sub optimal location. As previously announced, gas condensate was successfully flowed from the Middle and Lower Stellar targets using a downhole sampling tool.
The samples collected are now in the lab undergoing test work. The initial results from this test work, including gas to oil ratio, are expected in 2-3 weeks. More advanced testing on geochemical markers and hydrocarbon isotopes will take a further 4-6 weeks.
Investigation is also underway in regard to several theories regarding remaining potential for oil in the Torok, either as part of an oil rim or potentially displaced updip by a secondary hydrocarbon charge resultant from the unique burial history across the Project Icewine acreage. Additionally, sidewall cores are now undergoing analysis to determine hydrocarbon and water saturations across the various targets, including the HRZ shale, as well as determination of total and effective porosity and permeability.
The first of these results will be known in 2-3 weeks, with final reports expected 3-4 weeks later.
So, 4 weeks after April 20th ANN, we received the following;
21st May Highlights
• Average API gravity of liquid hydrocarbon in the Torok Fm confirmed as ~50 degrees
• Compelling indications of oil updip from Charlie-1 in Torok and possible intraformational seal identified, supporting geological model for alternate phase
• Oil interpreted in the Seabee at Malguk-1/Charlie-1 as well as updip at Heavenly-1
• Additional results from laboratory testing expected over coming weeks
I'm not altogether sure that there was as much information in 21st May ANN as we could have expected in the initial 2 tranches of data that were due for broadcast in 2-3 weeks from April 20th.
Certainly nothing HRZ related.
We Wait & Hope, Optimistically of course.
keefy
13:47
we have a few options on when data is to be released based on that ANN of the 20th April :-)
Will we see it this month or after the sums are known for XCD, would prefer something as complete and as definite as these reports ever are, rather than loads of interims.
Guess we have to be patient :-)
Spinefx
I agree with you, the limited Charlie-1 RNS comments on vapour phase.
My positive side says to me that there is much information to uncover from the Charlie-1 Drill Results. Technology today for use during Drill and post Drill analysis are considerably advanced on even 2 years back.
HRZ raises my interest and curiosity.
Going back to the Lab Results from Icewine-1 core, I still have some questions. The biggest one is, why is it that bitumen was not found in that analysis?
Will the current Charlie-1 Lab Analysis fail in the same way? Or will they address the issue why bitumen occurred in Icewine-2 but will not occur in Charlie-1 location?
For me, HRZ remains a multi-billion barrels of oil possibility.
Phrontist