RE: I am an optimist24 Aug 2019 02:40
tiggerman,
Your post is reasonable, but too long to comment on in depth. However, I think your viewpoint is the same held by many PI's here. Just a couple of bits I'd remark on, as a fellow PI, and with a certain amount of 'oily knowledge'.
" Warwick area second drill - Lincoln Crestal ( 50% owned ) is on the cusp of a promising discovery, and should oil be present , is it reasonable that from a close and very similar fractured granite rock, ( even connected ) it could well produce similar flows to Lancaster"
I assume you meant that as a question? To which the answer is 'Yes'. It's why we're waiting so closely on a result from Lincoln. However, to qualify this (and please remember, this is personal opinion only), should Lincoln test successfully, I don't expect the flowrates to be quite the same as Lancaster, which are quite honestly phenomenal. But if Lincoln only comes in at 5000 bbl/day, that's still an exceedingly good oilwell.
Also (very important), we know already that oil is present in large quantities on Lincoln. It won't be a 'discovery', that's already been done. The current drilling with its soon-to-happen DST testing is to establish whether the oil can be extracted at commercially viable rates.
..."and also have a second fork well drilled as well"
I fear you've been misled here (this BB) by reading stuff by other posters purporting to be 'experts', but who aren't. Please take it from me that the term 'fork well' is technically meaningless, unless one's talking about a hungry oilman tucking into his supper! Those misleading posts referred to the two (now producing) Lancaster wells which head off in opposite directions. However there was a two-year gap between them being drilled, and although being 'related', ar two distinctly different 'constructs', even though the wellheads are only 30 meters apart.
In the future, when / if Full Field Development takes place, it's possible that a number of wells will be drilled in different directions via a subsea 'template', a unitary way of linking a number of welheads in a very close-together spot, with 'shared' mechanical parts.
Or maybe not. Due to the geomorphology, the 'go-ahead' may involve separate individual wellheads some hundreds of metres apart, linked by pipelines and umbilicals to a common manifold.
But all that's in the future.
I too remain optimistic!
"Then of course, as still yet unaccounted for, the massive reserves within the Rona Ridge Licence area and Halifax, Whirlwind and Strathmore potential, to which it is as yet impossible to apply any accurate forecasts. But fractured granite basements in this area have demonstrated what they can produce ( so far ), and the chance / opportunity for success within the area is high."
Yes. Though let's forget Strathmore, which is 'conventional', not Fractured Basement, and which the company is maybe only hanging onto as a bargaining chip in any discussions with Premier, whose Solan field it adjoins.
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