Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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"aerial Photography" lol- they want to show the full extent of the prize - and they need an aerial shot! only an Ocean of Oil necessitates that IMHO...
All the removed tender docs from the ONGC website have been restored (not sure if adjusted), more interestingly IMO, there are three new tenders one for Seismic, for aerial Photography and the other for Slickline services on the completed wells.
WRT the one for Slickline services for the completed wells and possibly others provides some useful well information and future intent. Notice the wells flow rates and parameters particularly for Mariposa-1 appear to be holding up brilliantly, IMO there is much more oil down there than current estimates. So the mention of a submersible pump IMO should signal intent to increase production and test what is really achievable, to the best of my knowledge the only other reason for a pump is if production is flagging and that is a dire response that can ruin the well (I remember GENL drawing like hell on their wells and eventually sucking up water and ruining the field ) - that's not what ONGC will ever do, they may be slow but they are cautious and do things right.
IMO this perhaps points (I'm no expert) to ONGC opening up production, maybe a big jump if mirrored across 4 or more wells - as I recall our BoD wanted them to do just that ages ago.
From RNS:
"Existing wells are producing under self-flow condition thru a suitable completion string for natural flow with 3-1/2” eue tubing. However, In the future is envisage a completion string with an artificial lift method such as ESP equipment.....
…..The production parameters of existing wells are given below for reference, however ONGC-VL does not guarantee the same parameters for upcoming wells, considering that will be exploratory wells. "
and
"
Mariposa-1 Parameters ? Producer sand: Lower sands-3 / Une formation ? Fluid rate ( oil + water): 3142 BPD ? Oil rate: 3127 BPOP ? BS&W: 0.049 % ? API: 40.0° ? BHT: 248°F ? THT: 172°F ? Gas rate: 121,935Kscfd ? GOR: 38,99 scf/stb
Indico-1X Parameters ? Producer sand: Lower sands-3 / Une formation ? Fluid rate ( oil + water): 4675 BPD ? Oil rate: 4669 BPOP ? BS&W: 0.120 % ? API: 35° ? BHT: 220°F ? THT: 180°F ? Gas rate: 46,565Kscfd ? GOR: 9,97 scf/stb "
http://www.ongcvidesh.com/wp-content/uploads/2019/10/BD-_CO_225_2019_47-Slickline-Services.pdf