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Ojay: I agree with you. The spud date is not the most important important. The most important is the 75% Cos, 4 wells fully funded, the reservoir is an extension of producing field from Petrochina, simultaneous drilling with 2 rigs very close to the drilling location.
From my oil and gas experience, we never mention the rig name, location or contractor unless the rig contract is committed and agreed. In today's RNS MATD mentioned the rigs locations (20km and 125km). So they are already committed and will be mobilised soon for a spud early April. Rig RNS is imminent and can drop anytime.
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Highlights - 2019 four well drilling campaign: Heron, Gazelle, Red Deer (all Block XX) and a further exploration well in Block V, or appraisal of a Block XX discovery - Heron o Heron 1 well planned as first well of 2019 campaign, with spudding targeted for Q2 2019 o More than 50% resource uplift at Heron Prospect to 25 MMbo from 16 MMbo following mapping of reprocessed 2D seismic o Analysis indicates the Heron Prospect is the southerly extension of a proven oil-bearing structure drilled in Petro China's adjacent Block XIX - Gazelle high-graded to second Block XX well as new mapping shows it to be directly up dip of a Petro China discovery well on the same migration path - Red Deer Prospect location remains unchanged, targeting 48 MMbo of mean prospective recoverable resource - Heron, Gazelle and Red Deer environmental permits for drilling approved and CSR teams mobilised to well sites - Regulatory approval received for two-rig strategy for limited additional cost to allow for simultaneous drilling of prospects - negotiations with rig contractors nearing finalisation - Applications for Block IV and V PSCs being prepared for two-year extensions, with submission expected shortly - Ongoing analysis of Snow Leopard 1 well, Block V, has significantly enhanced the prospectivity of the Block and in particular the Raptor trend
Bronze. 9 days to wireline results.... 9 days of potential rise
Tiburn: if they will run MDT wireline tool then that's another very positive sign... MDT is one of the most accurate tool in wireline and expensive to run. In one MDT run, you get the data you need for timely decisions (Accurate real-time pressure measurements and permeability measurements from high-resolution gauges and High-purity and -quality reservoir fluid samples for downhole fluid for laboratory analysis.)
Closed 75.44% up
I don't know if frac will be required but what I know is this is extremely good and so far looking very positive.... it will be reflected in the sp and more raise to come
Frac is not always required. It depend of the porosity of the formation. They can flow all zones together for testing or they can also use packers to isolate each zone and test it separately. This stage will be part of the well test after they confirm the wireline results and run the completion equipment.
Wireline and LWD provide similar data but wireline more accurate and provide real time data from downhole to surface so wireline engineers car get the data during the run... data like resitivity, radioactivity, porosity, permeability, they can also collect oil and gas sample in special bottles for analysis.
Another run like today and 10p will be tested tomorrow
Sometimes oil companies use pre-perforated tubing. So instead of run the tubing then perforate they run perforated tubing with multi zone perforation.
Multi zone perforation can be done in one run using perforation guns through wireline cable.