RE: Paul basinski and volitile oil28 Apr 2021 10:08
@mr martini 8:12
Lol yep im a bit blurry to recount all the after party presentations due to intoxication of beers and JD, Courtesy of mickey masters lol, what i do remember was me buzzing with ideas about the HRZ and the source rock, so I interrupted Paul talking to other investors bless. And i just blurted out my ideas and he instantly engaged with me, which I turn pricked up the ears and fuelled more interest of the other investors whom were a little blurry like my self lol...i managed to stay on par with Paul on a few technical aspects and then he went into his magical wording of what he described as the HRZ and the history of the source rock, which was golden music to our ears on which every word was soaked up in anticipation of hitting the HRZ a couple of drills later (we know how that turned out ) i was so inspired that i drew what i interpreted to be a 3D drawing of where the hrs was underground with Paul’s description about it and in turn managed to roughly calculate with the help of some of the more maths orientated globe trotters the potential oil, although fag packet figures it was fun trying to Hoaned in on the actual figure which change a few times as we bought more acreage and drilled to appraise exactly where it was lying underground (we know how that turned out )... roughly half of ice wine is HRZ, and calculate the oip by using what was released roughly 42million per square mile, to get the miles divide half of average by 640 then use that figure and times it by 42 million.. i used Paul’s in house figure which he mentioned in the presentations and Q&A of up to 25%, but as he pointed out and later explained by garrym the super vaper phase bubbles up and turns into oil 1.5 to possibly 2.0 more in oil than as the vaper phase.
What got me about the panr webinar was that the bod mentioned 20% recovery? And then mentioned that prudoe bay was almost 60% recovery but that was conventional oil the HRZ is unconventional and as mentioned by Paul b. Up to 25% recoverable depending on how and what they find ( lowest case was 17%) so I’m not sure which base figure the pant bod are using for this 28bn oip figure?
Hope that helped alttle
Dazzle