Red Deer-1 and Heron-1 flow testing.......16 Sep 2019 03:53
Well, that Friday buying spree might also mean an RNS this morning about Red Deer and having some oil in it.
Again, Mike would not commit to anything until it has been flow tested by the testing rig if they have oil shows and net oil pay.
But to have some oil shows at Red Deer would be massive massive news for MATD.
I was looking at SOCO news releases.......2 of their commercial wells flow tested at 70 bopd after frac and the other at 120 bopd.
So whilst the expectation is 200 bopd for any well after its been fracked, its still very commercial at much lower rates.
And hopefully, with better reservoir the further south and west you go, the Heron-1 well might be able to beat those SOCO figures, and by some margin, fingers crossed.
Anyway, Heron-1 news on flow testing is for later....this week is about any oil or not at Red Deer-1 location.
https://www.rigzone.com/news/oil_gas/a/17668/soco_completes_mongolian_drilling_program/
...........INDIVIDUAL WELL RESULTS
Well 19-20 was drilled to a total depth ("TD") of 2,410 meters encountering good oil shows in the Tsagaantsav formation. The well was completed in this formation and fracture stimulated, which resulted in an initial production rate of approximately 70 barrels of oil per day ("BOPD").
Well 19-21 encountered good oil shows in the Zuunbayan and the Tsagaantsav while drilling to a TD of 2,625 meters. The well was completed in the Zuunbayan formation with an initial production rate of approximately 120 BOPD.....
Ed Story, President and Chief Executive of SOCO, commented: "The success of our exploratory drilling program in Mongolia this year increases our confidence in the reserve potential of the Tamtsag Basin. We will integrate the technical data from this year's drilling program to improve our understanding of the highly prospective but complex area." .......
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