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Looks positive long term.
Under the terms of the SPA, Premier will pay the full costs of an appraisal well up to a total of US$23 million to test the reservoir deliverability of the Malguk-1 discovery. The well will be drilled and tested in Q1 2020 with rig options having already been identified and contracting negotiations underway. On successful completion of the work programme, Premier will have the option to assume operatorship.
What does it all mean
Project Icewine: Unconventional - HRZ • De-risked by two wells with results to date considered encouraging and consistent with early stage results from other successful plays • Results from re-evaluation project expected within weeks • Farm-out process planned to fund further appraisal Question-Does the above comment mean we are due news in weeks or weeks from when more work is done?
It will be deramped so the derampers can buy in cheaper. Just need the permit to rework the Wells and this will fly. Hold and buy on the dips.
12:40 Does anyone believe in them?
Reduced was 10.42% now 9.53%. Any comments appreciated
Torok is not dead, its just not the right time. Well is abandoned to save time and money. The reservoir performance in the Torok Channel Sequence was better than the Nanushuk in the Winx-1 well as evidenced by relatively faster influx of fluid during MDT sampling. On completion of the wireline logging program it is apparent that the oil saturations in the zone of interest are also low and not conducive to hydrocarbon flow. While the oil saturations are evidence of an active petroleum system and charge, further work is required to determine whether there is an effective trapping mechanism at this location. Buy low today but dyor first. Being played by mms 1.25.down to 0.7 back up to 1.32 back down today then where. Just my thoughts.
Weak to moderate oil shows were recorded, including fluorescence and crush/cut fluorescence, whilst drilling through this zone; however, initial petrophysical analysis indicates potentially high water saturation. "Additional analysis is ongoing and will be reported once available" Any thoughts on above?
More news to come!!
Can't buy or sell on HL. Why?