RE: Karina UJO ADVFN3 Aug 2023 18:57
malcy :
so, looking at the overall comments from the companies it is clear that the reservoir is behaving as expected, indeed having produced some 492,876 barrels of oil already the fact that it hasn’t already produced water is in itself more interesting.
the amount collected of 3.72% isn’t therefore unusual and to be expected and more importantly the partners are ‘prepared to handle it’. the recovered volumes from the ashover grit are at the higher end of the current cpr of 2p 0.54 mmstb and 3p of 1.12 mmstb and with that in mind the preparation of a new one is underway at the moment.
with this new information that will be slightly delayed, but it will surely be able to give an idea of how much the full field recovery will yield given that there will be more oil in the ashover grit, wingfield flags, *****tone flags and other nearby prospects.
having said all this i would contend that actually wressle has actually well outperformed expectations and indeed i would never have guessed that it would be doing this much now. and what is more that if i had predicted such an amount i would have undoubtedly expected some water.
water or none wressle has been and will clearly continue to be, an important and extremely profitable asset not only to the companies involved but to the country as it adds the most highly efficient energy that is at all possible to our mix.