Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
While I would not call 150 bopd a failure I would want the flow figure to be above 250 bopd (eventually with electric pump) to be able to call it a success. Having taken on board the wording used by Beacon and Rhein in the past I think their is a reasonable chance we will achieve around 400-500 bopd and hopefully more. (just my opinion and please DYOR)
Shed - I think you may have already reached this conclusion but I have studied the video very carefully together with google earth images and RNS dates and I am pretty sure that all the external video footage was actually filmed in 2021 - as far as I can tell the more recent wells are not featured.
With regard to the Project 3 Farm out process (including CCS) they obviously have the various independent reports & data to fall back on but I am wondering if their advisers said they needed something extra to showcase the Block Operating Company and what they have actually achieved on the ground - just a thought.
Chesh - All I have done is reproduce an extract from the RNS when gas sales commenced- In the video you will see a squiqly blue line leave the EPF at West Rustavi, carry along the pipeline and then enter a car - Perhaps the video has used a bit of artistic licence with the visuals at the end?
Morning Shed - Having checked on Google Earth I am 100% sure it is actually footage of the WR-BO1Z site. The thing is, who is the Video aimed at, investors or farm in partners? If the later why was it not issued 3 months ago. It all makes me think that the farm in negotiations are not as far advanced as some may think.
From Rhein statement yesterday:
“The existing well will be used unchanged up to a depth of around 1,600 meters and will receive a newly drilled branch from there,” explains the Rhein Petroleum managing director. "Immediately after the end of the drilling, the test production is prepared, including inserting the delivery pump."
My understanding is that the initial delivery pump will be a rod pump which I believe has a limit of 250 bopd. After the well has cleaned up I believe this will be replaced with an electric submersible pump which will be able to handle flows in excess of 250 bopd. As I have said before, I am hoping for 500 bopd but if its more I won't be arguing.
Appel: “Due to the excellent reservoir properties and the known data, we continue to be convinced that ‘Schwarzbach 2’ can produce significant quantities of high-quality domestic crude oil.” Heidelberg, April 24, 2024
Grower / Shed - as another word of caution I think increases to our tonnage/turnover in future years may be limited to some extent by the number of customers that can actually be serviced by a pipeline infrastructure. PH did refer to localized industries in his recent Q & A.
Not sure if folks are aware of the following as nobody seems to have mentioned it and I have only just noticed it:
Page 15 of the Block Energy CCS report by OPC / Prof Eric Oelkers refers to Initial Injection Rates of 100,000 - 300,000 tonnes per year for the Block CCS project.
By way of comparison I note that the Iceland project that has been running for 10 years currently deals with 12,000 tonnes a year but with plans to step it up to 34,000 tonnes per year.
Thanks for reminding my of that Chesh, The CCS will be great for net zero credentials and can certainly be monetized but I do think the actual value will be more about the number of businesses that can geographically and/or practically take advantage of the facility rather than the actual storage numbers available. For me. Project 3 is still primarily about the gas.