Apr 12 YPF Set Back DP1001/229 Aug 2016 18:14
No Doubt - the significance of the success of DP1001 was buried post YPF Nationalisation by ARG govt RNS above- I knew it but the timing. So on a +ve not all that trapped upside in DP & PE is there to be released in a New World Order where we own 100% ARG on side and Oil in recovery. Point to note - the 1st Well Prod'n rate WILL set the scale to follow- if we hit +400 bpd its x 3 for the SP - To update - the Summarised RNS detail - Remember we hit 3 Net Plays more reserves which no doubt the New broker will AIm at a placing 2017 at +28p to finance Paraguay Guess IMHO - we'll be happy - SP will fly 2017/18 also the Market will need more stock of shares to trade as they are TOO tightly held IMHO> So that would be a good thing and any dilution smashed with production upside Farmins and Reserves. IMOP I think its PL 's time now - his patience will be rewarded and then ours. 'April 2012 - The Company notes recent events in Argentina relating to YPF which are completely unrelated to President. 8/05/12. Drilling Update Well DP 1001 Argentina Successful Flow Test, identified, 3 productive reservoirs with 33 meters of net pay. The carbonate interval, and the A6 and A5 sands. Carbonate Interval An extended production test completed, achieving a stabilised flow rate of in excess of 300 bopd, without any stimulation or pumping. The oil is very light and high quality. A6 Sands A production test A6 sand - 100 bopd whilst still cleaning up with approx. 10% completion fluid and mud filtrate. The test has confirmed that the A6 is at original oil saturations. A5 Sands The lower A5 interval will not be initially produced commingled due to different pressures but will produced in this well in the future and will also be targeted in a follow up wells. PL Comments. The well results of DP-1001 are significant.Firstly, it has demonstrated that President’s pre-drill guidance for a post-frac well initial of 380 bopd can be exceeded. To obtain these test results from just one of three intervals without stimulation is clearly satisfying Secondly, the well has confirmed that the southern part of the Dos Puntitas field is undeveloped. The field has a historical recovery factor of approx. 10%, which is low for a reservoir of this type with a good water drive. DP-1001 has confirmed the further development potential of the field, which is also being targeted with the DP-1002 once reservoir models have been updated in the near future. Thirdly, the well has discovered new oil reserves in the A5 sand. President has preliminarily identified approximately 66 million new barrels of oil in place on three fields.” GL GN Equal Weight be Fxxxxx -
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