RE: Tweet - Preparing the 7” casing18 Nov 2022 09:10
GreyPanther Posts: 818 Price: 0.96 No Opinion
RE: market sentiment beginning to change?03 Jul 2021 16:46
Hi there gkb47. For me the jury is still out on whether the re-development of this nearly depleted gas field will be a technical, let alone a commercial success. It might, of course, be rescued by a rising UK gas price, which would be very good news for all our shareholders. Regarding the pros and cons of sidetracking either SF 5 or SF7, I wasn't able to find nearly enough detailed geological / well logging info on UKOGL's website to help me with this. For example, I still don't know which of the many fairly thin reservoir sands have already been depleted in various areas of the field, nor which reservoirs are locally or maybe more regionally absent. The most telling fact for me is that SF5 has never been sidetracked (were the results of that well simply too disappointing?) but SF7 has been sidetracked four times as 7Z, 7X, 7Y and 7W. I don't know in which order these were drilled, or what their bottom hole locations were, but it doesn't seem to me that many - if any - of the results were much good. I heard that Roc pulled out of the UK and out of SF in a bit of a hurry. I believe Wintershall and others then picked SF up but soon dropped it when their gas storage plans failed to gain approval. If they couldn't make a go of it, I'd be worried that the Angus technical team may not have the skills, or maybe the luck, to do any better than their much better qualified predecessors. However, I could easily be proved wrong; it won't be the first time!
GreyPanther Posts: 824 Price: 0.90 No Opinion 05/07/21
RE: Side Track > P90 Confidence LevelToday 10:34
Thanks WG818 and gkb47. I've now had a fairly thorough look at the UKOGL, Wingas and Geol Soc published info on SF. IMO there are some fairly serious technical issues to overcome for ANGS to drill a successful side-track well.
1. The only reliably mappable seismic horizon across the entire field occurs some way above the individual reservoir sands, and it's not an easy event to map. The individual reservoir sands are mostly quite thin, and they appear to me to be seismically invisible over very large areas. Since many of the sands are too thin to be mapped individually or to see, finding them by drilling for them maybe quite problematic.
2. I hope that Angus have reprocessed all of Roc's 'vintage' 3D seismic and any more recent data by now. But they may not have, due to their previous shortage of funds. So they may have to drill almost "blind", unless they sidetrack into an area which already has a well or wells not too far away.
3. If there are any significant un-depleted reservoirs at SF, they are likely to be some distance from an existing well. This will make them hard to find without a highly detailed re-evaluation, e.g. some clever new geophysical mapping and or geological / well evaluation. I am quite worried that Angus may have to sidetrac
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