Where We Are25 May 2018 10:15
T-45 Well : Combined pay for Zones 9, 14 and 15 within T-45 well has been calculated to be 98.9m with 16.3% porosity. This exceeds the base case of combined 53.0m pay and 15.0% porosity as it has been assumed in previous reservoir modeling and Taribani field valuation and does not include the potential identified in Zone 13.
The well naturally flowed light, sweet crude oil at a stabilised flow rate of 270 bbls per day. The intention is to continue to test the combined flow of Zones 14 and 15 and, within a period of approximately 60 days, perforate and stimulate Zone 9 and produce from all zones together. As previously announced, in addition to these target Zones, a 14.9m pay interval has been confirmed in Zone 13. The Company is also considering the perforation and stimulation of Zone 13 in addition to the original Zone 9, 14 and 15 targets.
Dino-2 Well : Drilling and wireline logging data confirmed the presence of 78.8 m of combined pay interval of target Zones 9, 14 and 15.
The well naturally flowed light, sweet crude oil at a stabilised flow rate of 315 bbls per day. The intention is to continue to test the combined flow of Zones 14 and 15 and within a period of approximately 60 days, perforate and mechanically stimulate Zone 9 and produce from all target zones together. As previously announced, in addition to these target Zones 9, 14 and 15, a 20.0m pay interval has been confirmed in Zone 13 and the Company is also considering the perforation and stimulation of Zone 13 in addition to the original Zone 9, 14 and 15 targets.
T-39 Well : Combined pay for Zones 9, 14 and 15 within T-39 well has been calculated to be 102.5m with 14.2% porosity.
Niko-1 Well : Open hole logging data processing form previous drilling operations, consisted of resistivity, neutron porosity, sonic, bulk density, and gamma ray measurements, confirmed combined pay for Zones 9, 14 and 15 to be 86.9m with 14.0% porosity. 14.9m combined pay interval has been confirmed in Zone 13.
Niko-1 well is fully funded without having to get the begging bowl out to raise funds.
UD-2 Gas Well : We await an update.
Now then, With the data we have been provided on T-45 and DIno-2, We have a stabilised flow rate of 585 bopd from ONLY zones 14-15.
Zone 9 and possibly Zone 13 may be added across all wells in due course.
T-39 is on test as we speak and the market will be updated in due course.
Just have a think about all that and gauge where we are today from a year ago !
An absolute masterclass from all involved here, From the board all the way down to the workers on the ground.
I honestly couldn't be happier right now, The SP will take care of itself !
jmo and gla :-)