Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
With each well being behind one another by about a week re initial flow testing they will most likely wait until all three wells have been flow tested in the hope that at least one is flowing, along a with a spud or two.
This week is in the results window.
Tomorrow Rodder's?
Deep Well AKD-4: Hit TD and was preparing to flow test – 4 weeks ago
Deep Well T-2D – Hit TD and was preparing to flow test – 3 weeks ago
142 Shallow Well – Sidetrack hit TD last week and flow testing this week .
Three imminent well updates that could each shift the share price with the 155 Shallow Well and the 803/ A5/ A6 Deep Wells spudding this quarter to boot.
Icing on the cake: The remaining 2,900m of stuck 802 Deep Well drill pipe removed approx., 200 * 15m drill strings – we will know if more/ all have been removed in next weeks Op’s Update or will they end up doing a new sidetrack?
Possible game changing week(s) ahead....
The 142 Shallow Well had 360m left to drill to it’s 2,450m TD, that was 18 days ago.
‘’Following remedial work at Well 142 production levels briefly returned to previous levels before the water in the well forced another closure. We then started drilling a new 2,450 meter side-track, which at the date of this report has reached 2,090 meters.’’
If they were drilling 20m per day for 18 days they would have hit TD today, though I would guess they’ve drilled faster than 20m per day and had already hit TD earlier this week.
Therefore we could see an operations RNS out next week confirming the completion of the 142 Shallow Well flowing at previous levels (1,400 bopd) again, combined with an update on Deep Well AKD-4 and Deep Well T-2D which imo will have been flow testing this week too.
A5/ A6 Deep Well spud update to boot too?
Could be a big week next week?
It's been 16 days since they started to prepare Deep Well AKD-4 for flow testing, news must be imminent, but I bet they're waiting to flow test Deep Well T-2D too before updating the market, both wells will be being flow tested now. imo.
If they're laying a pipeline to the main pipeline/ Chinese pipeline/ Mini Refinery instead of trucking it will initially lower transportation costs by a few bucks per barrel and potentially being back in the international oil sales market through China by possibly extending the pipeline later - sounds good though more info needed.
You don't test two wells if there are no signs of oil do you?
''Drilling at Deep Well AKD-4 has reached its planned total depth of 3,922 meters and preparations are underway to test the well.
Drilling at Deep Well T-2D, which has a planned total depth of 3,500 meters, has reached 3,408 meters. After the remaining 92 meters are completed the well will be prepared for testing.''
It’s going to take a while (months) to remove the stuck pipe in the 802 Deep Well and flow it, especially as they still have to drill to the new 4,200m TD and then cement and perforate the well. Therefore the acid they have to clean the well could be used for the Block 8 deep wells if need be giving them time to reorder more acid to clean up the 802 Deep Well later, though imo they will already have the acid for the two Block 8 deep wells as they were preparing to flow the well(s) two weeks ago.
If neither of these deep wells flow or the 142 Shallow Well sidetrack then the next ‘new’ oil will be coming from the A6 Deep Well end of Q4/ Q1, if they can get it to flow. If they get these three wells flowing the share price should hit double digits imo, though it’s all about the other wells hitting TD in 1H 2024 for a proper spike.
If these two deep wells are flowing oil now I’d guess they’ll be doing an initial 3-5 day flow test and Carver is keeping quiet for now (IF flowing) as his exuberance proved short lived last time.
It usually takes about five days to cement and perforate a well and another 3+ days to flow test the well in a perfect world – preparation work started 2 weeks ago which would lead us to think news could be out next week, though Carver may want to release news on both of the Block 8 wells at the same time along with the 142 Shallow Well in a Op’s Update RNS, if that were the case then news could be month end.
Hopefully we get some early news next week on the AKD-4 Deep Well.
Both of these deep wells will have hit TD since the last update 10 days ago and imo will have been cemented and/ being perforated with flow rates at the AKD-4 well known and the T-2D Well flow results also imminent, will CASP report on the AKD-4 Well next week or wait until the T-2D Well has been flow tested too? The 142 Shallow Well sidetrack should hit TD next week so perhaps they will release a RNS with all three flow rate results month end?
Drilling at Deep Well AKD-4 has reached its planned total depth of 3,922 meters and preparations are underway to test the well.
Drilling at Deep Well T-2D, which has a planned total depth of 3,500 meters, has reached 3,408 meters. After the remaining 92 meters are completed the well will be prepared for testing.
News next week on AKD-4 Well is possible as it will have been 3 weeks since hitting TD (enough time to cement/ perforate and flow the well for a few days – IF it flows) and when preparations started to test the well, so news could be out as early as next week. Imo.
If these 3 wells flow we could be back to producing 4k bopd again month end.
Hopefully the 2 deep wells flow.........