@FlySeaLSE.. I miss so much out when there is so much info in an RNS, answering your question I have just read the answer to my question, which I asked the BB after reading the RNS, I blame my age..
Looks like its changed from the interview, todays RNS ... Drilling will continue to the Base of the Lake Bed Formation, anticipated to be at 400 metres. At this point the Company will then commence wireline logging to gain additional information on the formation reservoir characteristics and identify any potential pay zones.
This answers my question, suggesting its open hole drilling to the base of the 1st target, After logging the Lake Bed Formation, this section of the hole will be cased and drilling will continue to Basement
And with your timings, I guess wire-line analysis is happening at the moment :)
I think skittish should write the RNS's, I got a lot more out of that :) Just been reading page 91, Atmospheric Helium concentration is 5.24 ppm.. So for a depth of 4-6 meters helium persisted at >10000ppm(1%), so more than 1900x atmospheric levels Max reading was 22,084ppm (2.2%) more than 4200 atmospheric levels
@DeepblueDiver a question,,RNS mentioned open hole drilling, 24 hour 'PQ' size open hole drilling operations to commence from approximately 5pm local time on Saturday 19th JuneJust guess work here, took 1.5 hours to drill 15m, from 55m-70m..Unless they need to add/cement more casing could continue "open hole" drilling to the first target, so could be wire line testing any day now..??
I think, and only think, as have only been educated by this BB, that RNS is indicating gas was detected around 70m but not above, suggesting gas pockets trapped in the shallow sediments, another +330m below is our first standout structure..
When the OTC volume passes 1 million will be a sign they are catching on...
What I am thinking about is what was said in the last investor meeting, the comments about the seismic section for Tai and todays RNS. It shows a good interpretation of the subsurface so far, being correct on the not so obvious features, and not the stand out targets(as DM suggested).. To quote "i mean up into the lake beds and even into shallow sediments there's potential for good trapping structure for good reservoir sealed couplers to form"
Quote, edited "you can CLEARLY see on the dip line(references a section) which is the one running south west northeast, You can see this lovely horst structure great place for trapping gas It's popped up from the surrounding areas As you know gas rises as it flows so it's going to start accumulating there And on the strike line(other section NW/SE) you're seeing this beautiful rollover, this is a lovely dome structure perfect spots for accumulating gas I've highlighted the stacked potential areas of interest here , at the base of lake beds and in the karoo There could be gas all the way throughout this structure because we've got nice repeating reservoir seal structures especially throughout the karoo
We've got light areas in the red sandstones which could potentially be bentonite beds I mean up into the lake beds and even into shallow sediments there's potential for good trapping structure for good reservoir sealed couplers to form"
We might get an extra boost.. On the 4 wells the risked NAV 25p is based on $250/mcf, at DM's updated $375/mcf it should be about 40p, according to H&P's tables Using that info the current 18p appears a bargain.. Unrisked for all 4 wells about £2.11 @375/mcf On 3 wells I guess about £1.59 If all well samples are 8-10% we could have double the bcf used for the calculations...
Now until early November, 3 exploration wells, 1 month allowed for each, then appraisals on each successful well, all funded. Then Rukwa 3D siesimic survey October ish into January again all funded. Also from November engineering/ feasibility studies into next year, I believe funded as feasibility studies are marked as funded.. There has also been ground surveying activities at Eyasi, another 804km^2 field with sub surface salt horizons :)