Member Info for 3standsoffbottom

I don't don't think it will be much deeper compared to Alkaid 1. They stopped at around 8500 feet with 400 feet gross pay, they had not drilled out of the bottom due to having to up sticks. They thought (from the seismic) that there was another several hundred feet to go, so TD will probably be about 8700 - 8800. Due to wx they did a quick flow test just under the topseal about 8200 with 6 foot perf, no water contact which is a good thing. Just my understanding of course.

1st of Aug on reaching TD. Should take 4 weeks thereabouts to drill. RNS's will be generated by TD, logging whilst drilling, side core samples, plug and abandon to casing shoe, kick off for lateral drill informations. That will all happen over a couple of days. Of course there is always plan B, don't ask but I guess it depends on what they find at the bottom of the vertical hole.

So just for clarity testing has not started, they are drilling ahead. Assuming you mean when testing is started the simple answer is 1-3 weeks. The full answer is probably 6 months to “prove up fully”.

Personal view is that the markets generally are risk off for a whole host of reasons. Therefore I think, while there is a hard core of PI's who think this is the best thing since sliced bread, rest of the market is happy to wait until derisked further with (positive) results from this drill. Plus of course Farallon is probably continuing to sell so supply continues to outstrip demand I guess.
Management we know is conservative, so not much in the way of titbits (oil over shakers etc) to try and froth things up can be expected. Drilling should proceed quickly, then slow up for the horizontal, I am glad that they are doing a reduced lateral section as we do not want any FU's.

Markets have stopped defying gravity it would appear. I sold everything except PANR last November, mostly Tech stocks, the cash is either under the bed or in money market funds. If there is any sector in the markets that you would want to be in at the moment, this is it and PANR is in it.

If time they can run a wire line logging tool and check flow from each interval.

Weather forecast saying wind abating next week (Wednesday and if is a forecast!). I am thinking that unless SoA dictates end of season then ice road might be good for awhile longer than last year. Reason is weight difference between big rig and coil tube rig. So we might have a few more days than we might think compared to last year.

Cheap might be something to do with having 15 billion shares and counting in circulation. Why put more money in the ANS would be the question you should be asking, if yes then PANR is better than a punt. If no then maybe look to diversify into other regions. PRD might be a good place to start, not a recommendation DYOR!

The word frac gets bandied about a bit. There is a world of difference in trying to stimulate a vertical 10 foot section and "fracking" as has entered common lexicon over the last 10-15 or so years. Fracking is like trying to wring a wet cloth out, stimulating is like trying to poke wet leaves out of the tap of a full water butt .

Lot of talk about "testing kit" and "bits of equipment" . Basically there is logging and flow testing. A full size drilling rig can be used to facilitate both of these operations. A full size drilling rig is x USD a day. A work over rig, in this case a coil tube rig is 1/2 x USD a day (at any rate cheaper). Now whether they had 2 coil tube work overs lined up I don't know, I didn't get that impression, could have been. Anyway the big rig would have been contracted for a set number of days with a bit of flex no doubt, cement issue caused an over run or potential over run. I think as mentioned previously they ran a slide rule over it and made a cost based call to demob and use the work over rig. The result is as detailed in the last RNS. I can tell you from experience that plan changes on the fly in the oil patch is not uncommon.

I am guessing 1 to 3 weeks. It depends if trouble free, how tight and how much (or little). We just are not in the company (Jays) office so it really is.... a guess.

They could have tested using the big rig (in my opinion). I don’t have the figures but I guess someone passed the slide rule over the day rates.

Not sure I understand what u mean. Just a figure of speech, I was never involved in proper shale fracking so have no idea what chemicals etc are used

On the other site they seem to be stressing about do we have one or two fracking units. Fracking of the sort that has been in the popular conscience this last few years is different to the fracking done on a vertical wildcat.
They will probably run Chicksans from the cement pump to the drill floor and pressure fracture the rock in the immediate area of the perfs. This breaks the cake on the bore and increases exposed rock surface in the immediate area of the perfs. It does not require a purpose fracking unit, which pumps sand chemicals and God knows what into the likes of shale.

Cheers Garry, if 79 was the year you were born, I was stood at the end of the monkey board throwing pipe at the elevators before you were a twinkle in the eye ??. Where has the time gone

When running casing displaced drilling fluid has to enter inside casing. When they pump cement that hole in the shoe has to become a one way valve so the cement doesn’t u tube back into the casing. If tool didn’t do that then that is another possibility.

The RNS say it (stage tool) was improperly configured, wouldn’t be surprised if it was dropped in upside down!! I am guessing unable to pump cement through the shoe as a consequence.
It’s straightforward to set a packer, run a perf gun and squeeze through the perforations? . Drill bit will make short work of whatever cement is in the 9 5/8ths casing

That’s why they will be doing a squeeze job, all pretty straightforward just time consuming and of course time is money.

Actually I think from reading the RNS it was not a successful cement job. However it’s not a biggie. The cement hand will have been run off and replaced no doubt. It’s a straightforward fix, when I get a chance I will try and explain if no one else has done so.

Scot, I really don’t have a clue what’s happening on site. It was just an observation regarding the use of diesel during testing. Burn offs (diesel) would last less than an hour maybe a couple hours tops.
Looking at the photos again you can see the snow light up, plus the bit of orange, if I was a betting man I would say flare, of what is the 64k question.
The old boys in the oil patch generally think everyone else are idiots, it’s just a thing