Member Info for gordon1237

Espen. I would say there may be a slight concern because we don't know whether any extra has been spent on the refrac due to the unexpected difficulties in removing the fluid. There may have been a contingency to allow for it, who knows. I guess they were going to have to install the production tubing anyway, at some point.

As long as Syn doesn't run off with the bloke next door. Lol.

Yep. Certainly the next few weeks will be make or break. Gla.

Agreed BP. Also can't help but wonder how much extra cash is being used. Just need to hope for a quick result on an improved flow rate, followed rapidly by a jv and cash injection. Gla.

Hi beadle. I have always been pretty surprised that you didn't take the opportunity to get out last year at around 0.4, when I did. Atb.

Hi WTB. I agree that there is a lot of uncertainty, in spite of what some seem to think about the refrac being an unqualified success. It may well turn out to be so, but at the moment we can't tell for sure. Hopefully, once the production tubing is installed we will see a big improvement in flow rate. I would think we need 1 mmscfd for the two zones which would give us the 4 mmscfd for an 8 zone new well, which Roland has said we need for sound economics. Atb.

to see yesterday's little dip reversed. Gla.

Must be a nation of illiterates. Lol.

If only the great share buying public believed that. Gla.

LexyLou. They gave it as " only" 75% because of the problems encountered when 77h was originally fracked in 2014. Due to the difficult geology gas was produced, but at a non commercial and declining rate.

Before the frack started the company gave the COS as 75 %.

Yes Toptuf it does. However, we are currently achieving " up to" 0.5 for two zones, half of that rate. Hopefully, this week's operations will change that. Atb.

Hi Jack. Roland confirmed to me as recently as our email exchange on 15th August that 4 mmscfd is needed for the new wells to be economically viable.
" We need c. 4 mmscfd per day from the new wells planned to be drilled in 2023 to have good economics. New wells will have 8+ fracced zones so 0.5 mmscfd from 2 zones is on course."
Of course that maths doesn't add up, so we wait and see.

Hi Jack. It is irrelevant what a typical flow rate is for other wells. They have stated what a commercial flow rate is for new wells in Cambay and that is 4 mmscfd.
One rns where they gave that rate and the refrac target of 2 mmscfd was in this update from 16th March 2022.
https://www.lse.co.uk/rns/OEX/cambay-india-update-6csg73tx1ysim6y.html
"The targeted new initial production rate from the two new re-frac zones is 2 mmsfd. A successful re-frac operation will enable the initiation of the full Cambay field development with two new horizontal and fracced wells planned for end of 2022 / Q1 2023, subject to funding. Oilex's project studies and experience from other stimulation projects result in an expectation of initial production rates of 4-5 mmscfd for new horizontal wells which will provide robust economics."
In my email exchange with Roland in August, Roland said
" Gordon,
Yes, the target was 2 mmscfd from the two new fracced zones and we have yet to achieve that.
Regards,
Roland"
So you can see quite clearly that they are saying that the refrac target of 2 mmscfd is required and that will equate to the 4 mmscfd that is needed for the new wells to be commercial. However, they now seem to be saying that 0.5 mmscfd for the refrac equates to 4 mmscfd for a new well. Personally, I find this disparity baffling but hopefully all will become clear soon. Gla.

Fair enough VF. We just need to hope that at some point the market starts to believe.

VF. Well, it was more than mentioned. 2 mmscfd was given as a firm target for the refrac. This we were told, would indicate that 4 to5 mmscfd could be achieved from new wells. Now we are told that a quarter of that indicates thr same thing. Doesn't quite add up. However, I accept that Roland has forgotten more about this subject than I will ever know and hope it all comes good in the end. Presumably, they still expect a big increase in flow rate once all the fluid is removed. Guess we'll know in a few weeks. Of course, it's not me they need to convince but a jv partner.

Agreed Espen. At one time, a lot of people, including me, were moaning about the lack of informative rns's. Now it feels like we have been given almost to much info. Maybe it would have been better to wait until the end of the whole refrac process before giving any flow rates? Might also have been better if we hadn't known the refrac target of 2 mmscfd. Then, I for one, plus the market, wouldn't be fretting about currently being nowhere near it. Hopefully be some good news soon. Gla.

Nice update. Gla.

Thanks kn0wles. So, not even the most recent Cambay update and the job is spread over a lot of locations. Atb.

Hi Espen. Not on LinkedIn. What does it say?