after the latest board interveiw, cant remember name and cant be bothered looking. It would make serious sense to get the 3D seismic done asap before drilling anything after W38az. If its that important due to the fracture geology then it makes sense. W16az i consider a somewhat expolority well but they need to start getting smarter if a geologist says its a complicated structure. I would be more confident if they delay the future drills after W38az to get the data to provide a proper forward plan.
af the end of the day it is what it is. Not worth hammering on about this that and the other, its about what happens forth. Next well and the two wells after that, then the 3D seismic and target the fractures. if the Oil and Gas game was that easy everyman women and their hamster would be doing it. This is a heavily derisked company, forget about what PH said and just look at the facts, we are producing oil and gas from the first well, look at others and the amount of capital burned with dusters. Reality check, we have great contracts, cheap drills, no debt and financed program. Sure PH is under pressure but he will learn. GLA to genuine investors
i agree about infrasture been on that front since the start, however there is an opportunity to get the A50 workover rig back on the well and investigate the performance further, also opertunity to do some remedial work i.e run logging tool and confirm the ripe zones and isolate the water water zone. Rig rate is included so its costs nothing now apart from bringing in a logging company and addition tooling. its not bad thats for sure, we have production.
could of brought it on too hard intially and that could of been the water zone mixed with drill cuttings giving the high flow rates, water will flow faster than oil, we have gas which obvoulsy flows better than oil and water, molecule size through porous formation rocks sandstone etc. As far as iam aware they expect the water is coming from the upper Eocene, is that a zone with water injection from other locations keeping it pressurised. Anyway find out soon enough
RE: Malcy Talks about Block 13 Aug - Quite Rightly SUSPICIOUS13 Aug 2019 18:31
They have taken on external experts to review W16az, like I said before good chance A50 workover rig might re-enter for remedial work I.e run more gauges and ascertain the non water production zone and isolate it then look at stimulation techniques to enhance the oil and gas zones, might not be able to reduce produced water to zero and that's not uncommon in nature assets but with the correct plan then things can improve.. they may delay it until what they see after the next well. End of the day production is currently being stored , cash is king and we are turning alot of that.