RNS - Indico x 5 Plat Block!!! 450s2 Jan 2019 22:13
I've Re- read the RNS and the language is really not clear as to the size of Indico M1 etc - so back to basics Plat is 11k hect-acres say 24k acres or 100 sq km, CPO 5 is 500k acres od 2,000 sq km, RHS states the following - These latest data from the well further indicate that we are developing an important play fairway within the LS3 unit of our large CPO-5 block, with significant upside both in the Indico accumulation, other structures to be drilled in the immediate future, as well as a long programme of exploitation within this sizeable block which is five times the size of our Platanillo block." So Indico and M1 Sol 1 Aguilla 1 area is x % Plat- = 450sq km so that's only 25% of CPO 5 area in total. No wonder Pinta d 1 was left Home Alone FFS
The well was subsequently flowed at a series of choke sizes, known as a Multi-Rate-Test ("MRT"), flowing 35.9° API oil to surface. The final flow rate in this MRT was 4,530 barrels of fluid per day (gross) with a water cut of 0.33% at a choke size of 40/64" and a wellhead pressure of 241psi.
The well is currently producing over a controlled choke of 28/64"at a rate of approximately 2,680 bopd with 447psi wellhead pressure, while the drilling rig is rigged down. It is envisaged that the well will continue to be produced under STT while application is made to ANH to begin a Long-Term-Testing ("LTT") programme on the well.
The LS3 sand package is the same formation which holds the 120 feet oil column discovered at Mariposa, which lies some 6.5 kilometres to the northwest of Indico-1. The Mariposa well has produced at a stable rate of approximately 3,200 barrels of oil (gross) per day in natural flow from 12 feet of perforations near the top of the 120 feet oil column for over a year, during which time it has produced over 1.2 million barrels of oil with no significant water cut, which remains at 0.05%.CPO-5 augmented drilling programme
The scale of the reservoir thickness and oil column at Indico-1 has important implications for the prospectivity of the area within the LS3 play, as well as the degree of fill within Indico. In particular, additional structures alongside the Indico structure may now be considered to form part of the play fairway. So we choked back from 40/64" to 28/64
and PSI of 241psi increased to 447psi wellhead pressure. The block's value Fing Huge and with a Second Rig will play out quickly. GLA All
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