T 10s15 Aug 2022 15:58
RBD may get 25 -30 million for its Victory sale, this of course is because of how the price for gas was so much lower when they did the deal for selling Victory than it is now. However the lower price of 25 million would give them a very strong position for getting on with the next drill at West Newton which is where the real money is. None of this will be lost on the Industry who are all watching each and every Gas opportunity with a great deal of concentration. The West Newton Gas find is immense as we all know but we still have to get further information from the next drill and those results will tell us if the majors will be interested in snapping up Reabold.
So far our Independent experts have come up with some of the following,
Three wells drilled on West Newton (A-1, A-2, B-1z) have all made discoveries in the Kirkham Abbey formation
• These wells have proved up a hydrocarbon saturated reservoir with significant areal extent and column thickness
• Rich data set from drilling and testing will inform drilling of first optimised horizontal well (B-2)
• Horizontal wells will expose significantly more reservoir to the wellbore and allow for enhanced productivity potential
• All future development wells expected to be horizontal
Core Labs have given their opinion on the flow rates at West Newton as being affected negatively by the way work was carried out.
May - June 2022: post EWT analysis by CoreLabs(Stim-Lab) explained:
• The cause of the formation damage from drilling and completion work and,
• Crucially, demonstrated reservoir flow from multiple samples:
“In this sample, the unfractured core plug easily demonstrated matrix flow with API brine, diesel and gas”
If Victory only give us 20 million we are still in an outstanding position to capitalise on West Newton, a further better price for Victory will hit the jackpot with investors as they will then see RBD has a freeway ahead of it to test out the Corelabs work methods. Corelabs are based in Texas, are huge and respected,
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Just days now and then its on to the