RE: Proactive Interview14 Sep 2019 12:12
No they haven't mispresented, they are playing by the book.
A well that is being drilled into a discovered hydrocarbon accumulation to further understand the extent and size of the accumulation – usually denoted by “name-2”, “name-3” etc.
"Appraisal wells can be drilled either before or after an accumulation has been developed. Appraisal wells can be abandoned after drilling or kept as future production wells. An Appraisal Well usually has a chance of success greater than an Exploration Well but less than a Development Well"
"Exploratory drilling is the Initial phase of drilling for the purpose of determining the physical properties and boundaries of a reservoir. "Exploration drilling is an important step before development drilling should take place"
"What is an Exploratory Well
An exploratory well is a deep test hole drilled by oil and gas exploration companies to locate proven reserves of recoverable gas and oil, both onshore and offshore. Areas that might contain oil or gas reserves are first identified using seismic data before exploratory wells are used to gather more detailed geological data on rock and fluid properties, initial reservoir pressure, reservoir productivity, etc. If oil or gas is discovered, a development well will be eventually be drilled to extract the oil"
"Exploration well
A well drilled either in search of an as yet undiscovered pool of oil or gas (a wildcat well) or to extend greatly the limits of a known pool. It involves a relatively high degree of risk. Exploratory wells may be classified as (1) wildcat, drilled in an unproven area; (2) field extension or step-out, drilled in an unproven area to extend the proved limits of a field; or (3) deep test, drilled within a field area but to unproven deeper zones."
Upto you to decide if Liberator oil field discovery is appraisal or exploration
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