The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
https://twitter.com/echoenergyplc/status/1087259695398748161?s=21
Agree abzzba
This guy says 4 weeks
https://uk.linkedin.com/in/geoff-probert-7299053
I think he might know a bit about what he’s talking about
They said there was a 2 week Christmas shutdown so probably mobilised last Monday and started last Tuesday. They didn’t mobilise before Christmas as they didn’t want the equipment on hire and idle over that period
It’s all in the q&a script https://www.yourechoenergy.com/app/qa-chat
From the q&a on 17th December:
Question from MattSherman75
How long approximately will each stimulation take?
Geoff Probert (Chief Operating Officer)
Hi Matt. They take about 4 weeks to pump the stimulation, break the gel, clean it out with coiled tubing, then swab with wireline and test.
So there’s your answer from the COO
page 11 of this report shows the repsol and shell wells along with our license
https://www.echoenergyplc.com/media/1392/echo-energy-initial-research-report-by-rb-milestone-group-32718-updated.pdf
On the "pocket" referred to by the President, Ponce explained that there is "additionally the presence of this sandstone below a fault that is called Mandiyuti" and that "represents an unforeseen and very important finding for the area because it opens a basin new in the country, especially in the southeastern part ".
Morales is convinced of the success of this project and has asked to write down January 11 as a key date for the country's hydrocarbon history, which is why he has expressed his desire that "this blessing is not a curse" that confronts the inhabitants of Tarija .
"At more than 7,500 meters, what in technical terms they handle as sand, it impresses, it attracts attention and our technicians probably have estimates of how many production volumes, how many TCF, but also with responsibility tell us that we will continue moving up to 8,000 meters of depth ", said the ruler.
Bit more info on this link , looks like there's 200m of the sandstone formation they were targeting, also that the Bolivian president toured the site just after it was announced
https://consuladogeneraldebolivia.com.ar/bolivia-tiene-esperanza-en-el-megacampo-de-gas-en-el-pozo-ultraprofundo-boyuy-x2/
La Razón Digital / Rubén Ariñez / La Paz.- The final studies remain, but Bolivia is advancing in a historical and unprecedented oil exploration plan that could lead to the consolidation of a mega-field of gas at a depth never before explored: 8,000 meters. At least that is how the first reports of the transnational company Repsol that operates in the "ultraprofound" well Boyuy X2, in Carapari, Tarija, that this Thursday reached 7,862 meters.
On Friday, President Evo Morales participated in an inspection of the site and expressed his optimism about the economic effects that the discovery will have for the country.
"It is an inspection of the discovery of the Huamampampa formation, deep to more than 7,500 meters. It represents a geological success, the existence of gas at this depth and also, we are informed, in this whole sub-Andean region such as Tarija, part of Chuquisaca and Santa Cruz, it is like another reservoir, like another pocket, "revealed President Evo Morales.
The work is undertaken by the state-owned Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) in partnership with the Spanish transnational Repsol. "Anoten, January 11 will be a historic day," Morales said.
Hours earlier, he had announced at a public event in La Paz that "we have good news in Chaco Tarijeño, I think we have found another mega-field of gas".
But the director of the Business Unit of Repsol, Jose Ponce, was more cautious and asked to wait for the studies to establish if the discovery of this formation will allow or not to produce hydrocarbons and, mainly, if the volumes are commercial.
This is the drilling of one of the deepest wells in the world and the continent that will culminate when the 8,000 level is reached in May. Repsol and its partners Shell and Pae invested more than US $ 110 million to date and in the next five months it plans to reach US $ 150 million.
The project that has been under 18 months was born with the goal of reaching the 6,600 level, but it was decided to continue and at level 7,640 "we have found the Huamampampa sandstones", confirmed the manager of the Spanish transnational.
That formation, at the moment, has a thickness of 200 meters and is the same as gas in other wells.
"They are the ones that produce gas in Margarita and the neighboring fields of Boyuy and from that point we have continued to deepen and the sand continues, we go more than 200 meters deep in this sandstone," he revealed, a fact that was also highlighted by Morales.
On the "pocket" referred to by the President, Ponce explained that there is "additionally the presence of this sandstone below a fault that is called Mandiyuti" and that "
https://mundo.sputniknews.com/america-latina/201901111084684793-hallan-gas-natural-en-pozo-de-bolivia/
translated through google
LA PAZ (Sputnik) - An international oil consortium led by Spain's Repsol announced the discovery of natural gas in a well currently drilling in southeastern Bolivia, which at 7,862 meters today has become the deepest in South America.
"This drilling has broken historic milestones, is the deepest well in South America and will be one of the deepest gas in the world," said Repsol's business director in the country, José Ponce, during a televised inspection to the field in exploration, which was attended by President Evo Morales.
Enthusiastic, but without giving figures, the technician said the gas was found in the Boyuy field of the Chaco region, from a depth of 7,640 meters, in a structure similar to that of the country's main gas fields, in which according to a recent independent certification there is a proven reserve of 10.7 trillion cubic feet (TCF).
Morales applauded the progress of the exploration and highlighted it as a result of the nationalization of hydrocarbons that his government decreed in 2006 and that he reinstated state control over the industry, with incentives and legal security for foreign partners.
"This Mother Earth gives us many natural resources, we have been plundered during the Colony, including during the republic, but when there is political decision of the people through social movements it is possible to continue exploring and finding natural resources," he said.
The natural gas industry, concentrated in exports to Argentina and Brazil, is the main source of foreign currency for Bolivia, having generated in 2018 revenues of close to 3,000 million dollars, according to preliminary official figures.
Ponce said that the drilling that lasts 18 months will continue to 8,000 meters, almost 1,500 meters more than initially scheduled, and should end in May, with a total investment of 150 million dollars, one of the highest in a single well exploratory in the region.
He indicated that the preliminary drilling data suggest the possible confluence of two gas fields in Boyuy, whose size and production potential will be determined from May.
"We hope to come here very soon to announce the production and the tcf of this field, which can be another megafield," said Morales.
Repsol is the main shareholder and operator of the project, in which the Anglo-Dutch Shell and the Argentine Pan American Energy also participate.
This group makes the investment at its own risk, in the framework of a contract with the Bolivian state oil company YPFB.
well they said in the Q&A they would wait till the 2 week Christmas break was over so that'll be next week, seismic should start as the equipment's been mobilised, hopefully the new part for the fracking eqpt's arrived as well and they can get on with EMS