TLP-101V17 Jun 2019 13:52
Naturally concerned by the declining share price. I did a bit of digging over the weekend using the new information in the CPI summary.
This is the plan of the Djeno provided by AAOG in the admission document - showing the Djeno a few km offshore, where most of the other wells drilled from Tilapia were targeted.
https://ibb.co/wLydjwx
I had assumed that TLP-103C would also have targeted this formation offshore, as much had been made of being able to drill offshore wells from our onshore base.
This diagram in the Admission Document shows nearly all wells stretch out under the sea.
https://ibb.co/3yf10y2
The CPI summary however, gives a clue that this is not the case at least not in the case of TLP-103C.
AAOG only ever appear to have given the borehole length in RNS's - the top of the Djeno is always given as 2397 -2411 metres. But the CPI summary also gives the Total Vertical Depth - I've never seen this before - which is 2262-2273 metres.
So borehole length is 135 metres longer than TVD.
What does that tell us?
It tells us (thanks to Pythagoras) that TLP-103C is almost vertical - and isn't an offshore well at all. It may even go slightly inland.
Indeed page 83 of the AD hints that the appraisal well -TLP-103C - could be planned to be vertical.
The only other vertical well was TLP-101V, which is located around 150 metres to the south of TLP-103C.
So the rocks encountered by TLP-103C will be almost identical to TLP-101V.
TLP-101V encountered poor R1-R3 reservoirs and the Mengo barely flowed - as there was no fracking technology available at the time.
The TLP-103C R reservoirs appear to be thicker, as does the Mengo - but this explains why DS and JB were so confident of the geology, because they were drilling only 150 metres from TLP-101V.
It also explains how they knew the Mengo would have to be fracked, and why no samples were taken - they knew they'd be the same as TLP-101V in 2006.
It also suggests that DS and JB were only ever interested in the Djeno, as otherwise why drill an almost identical well to TLP-101V right next to it, only deeper.
Samples weren't taken of the Djeno, as the pressure almost blew up the rig, and they struggled to control it.
To me this hints at something DS and JB have been trying to keep under wraps - that the Djeno isn't offshore, but inland.
It may also explain where some commentators have got their information from about the lack of oil flowing in the R zones and Mengo - it isn't a Schlumberger leak - they've just realised 103 is the same as 101, only deeper.
The Djeno has always been key to DS - and 103C is the proof.
Key to me is the pressure encountered and SNPC payments.
The Chinese may also have encountered the Djeno at "BN" and it may have also almost blown up their rig - some evidence of a big accident there - and they haven't drilled since.
Lots of oil at Tilapia - and lots of pressure too.
Sign In
Follow the stocks
