RE: 0.20p close10 Dec 2020 12:54
Highlights:
· B-1Z well encountered a gross 62 metre hydrocarbon bearing reservoir interval in the primary Kirkham Abbey target formation
· Overall Kirkham Abbey estimated hydrocarbon column is at least 118 metres, significantly exceeding previous observations
· The oil-water contact is yet to be encountered at West Newton
· Enhanced porosities of over 14 per cent. observed on wireline logs, comparing favourably to previous A-2 well
· The Kirkham Abbey formation is materially de-risked with evidence of good reservoir continuity
· West Newton B-1Z is approximately 2.5 kilometres from the A-1 and A-2 discoveries, confirming an areally extensive accumulation
· Production casing is being run in preparation for well testing
Following the announcement on 23 November 2020, the West Newton B-1Z side-track well reached a Total Depth of 2,114 metres (MD), in the Carboniferous interval. 18 metres of core has been successfully extracted from the primary target, the Kirkham Abbey Formation, and all planned logging operations have been completed.
Wireline logs indicate that a gross 62 metre hydrocarbon saturated interval has been encountered within the Kirkham Abbey Formation. In conjunction with the results of the B1 well, the overall hydrocarbon column in the accumulation is estimated to be at least 118 metres.
Furthermore, with the B-1Z sidetrack located approximately 2.5 kilometres south of the West Newton A-1 and A-2 wells, the results indicate a particularly extensive accumulation with good reservoir continuity.
Favourable reservoir characteristics were observed in the Kirkham Abbey, with porosities measuring over 14 per cent. from log data across sections of the interval.
Drilling operations are being concluded, and production casing is being run in preparation for testing of this extended interval.
The initial petrophysical data obtained from the West Newton B-1Z well correlates positively with the results from the West Newton A-1 conventional discovery well and A-2 appraisal well.
The secondary Cadeby objective was unsuccessful at this location, but the data gathered from this well will be used to inform its potential prospectivity elsewhere in the block.