Member Info for somm

I’m guessing the 801 Deep Well’s horizontal sidetrack will be deviated to drill through all four intervals (NET 121m) and not just one interval, the four intervals are between 4,535m to 4,812m and the sidetrack starts at 4,400m. Approx. 277m should take about 9 days to drill through plus whatever (hours/days) for the testing of each interval.

The potential of these four net-pay intervals combined is huge with one interval being 59m of potential net-pay, especially with the 802 Deep Well having already flowed oil at the shallower depths.

‘’29 May 2018

Deep Well 801 – 121m of aggregate Potential Intervals.

As previously announced our plan to bring Deep Well 801 into production was by drilling a side track of between 450 – 500 meters from a starting depth of 4,501 meters.
Having identified potential oil bearing (net-pay) intervals covering in aggregate 121 meters so far during the drilling of the side-track, we have decided to stop the side-track at a depth of 4,851 meters and, after running and cementing a 5-inch liner to the full depth of the side-track, to test the well.
Four potentially oil bearing intervals have been identified during drilling and supported by mud log data. The first of 6 meters between 4,535 and 4,541 meters; the second is of 20 meters between 4,554 and 4,694 meters; the third is of 59 meters meters between 4,635 and 4,694 and the fourth is of 36 meters between 4,812 and 4,848 meters.
The pressure in Well 801 remains high indicating good connectivity. As the side-track has been drilled using lower density drilling mud we expect the task of getting the well to flow to allow testing to commence should be easier than previously drilled deep wells.’’

4 November 2022

‘’Work using horizontal drilling which has proved successful at several of the MJF shallow wells is planned for the New Year at existing Deep Wells A6 and 801 at a depth of approximately 4,400 meters.

The Company remains encouraged by the strong oil shows from Deep Well 802. Following an extensive cementing exercise we are now preparing to drill a side-track from a depth of 2,416 meters to a depth of 3,900 meters to target the first interval of interest from which the oil encountered to date has flowed. If successful and based on current timings we expect to test the well before the end of the year.’’

I wonder how many potential net-pay intervals there are between 2,416m and 4,848m on these two wells (801/ 802) and the A6 Deep Well to boot).

The thought of a 59m interval flowing commercial oil is mind boggling and I bet if commercial flow rates are the case the oil won’t be flowing in the hundreds of bopd from any of these two wells ;- ).

And don't forget the 155 horizontal shallow well is planned to spud in December too ; - )

KK,

Thanks for clarifying. In SA atm and just got back to PE from a 4 day safari drive, have driven the Garden Route from CT to PE and will return to CT at the end of the week staying another week there so a little muddled atm. lol!

KK,

I think CASP are still sending 3% to mini refineries could you remind me if they are paying monthly too?

Yes we're selling into the domestic market atm so monthly oil receipts.

The dividend amount should remain the same until around March /April as oil receipts are 2 months behind, if the shallow wells and 802 a flowing in January then I'd expect to see the dividend double come May/ June and there's always the elephant in the room (CE) 'special dividend' payment if the tender is successful.

Monthly dividends, who would have thought a year ago?

2023 will be the year.

Well I'm Certainly intending to go on another safari drive today pun intended ;-)

Food for thought.

Remember the A5 Deep Well flowed at 3,800 bopd before becoming blocked and the 142 Shallow Well was producing 1,400 bopd that's 5,200 bopd plus todays production of 2,400 bopd = 7,600 bopd.

Throw in the other 4 deep wells and 2 shallow wells that are planned and 10,000 bopd doesn't look to unrealistic - providing no dropped cameras when taking selfies lol!

Deep Wells A5/ A6/ A7 (A8 plugged and abandoned) to be re-drilled/ finished 2023.

Shallow Wells 141/ 142/ 155 to be completed 2023.

Deep Wells 801/ 802 to be completed 2023.

Deep Wells A6 and 801 will be drilled horizontally to 4,400m completed 2023.

All completed by the end of 2023.

With 5 Deep Wells to drill in 2023 it’s going to be a massive year with dividends and everything else to boot.

Did someone say 20p? Deramper. lol!

Just imagine a one-off dividend of £10m for the CE tender (£20+m), that's ten times yesterday dividend announcement.

Might have to stay on Camps Bay a little longer ;-)

802 Deep Well,

''The Company remains encouraged by the strong oil shows from Deep Well 802. Following an extensive cementing exercise we are now preparing to drill a side-track from a depth of 2,416 meters to a depth of 3,900 meters to target the first interval of interest from which the oil encountered to date has flowed. If successful and based on current timings we expect to test the well before the end of the year.''

Looks like they've had trouble keeping the well from getting blocked with mud-pressure-heat again hence the sidetrack and have cased the well off at 2,416m.

I'd say they've learnt a lot from drilling down to 3,900m re mud density etc. and have a better understanding of what mud weight etc. is required to prevent the mud turning to cement.

The thing is they're sidetracking 1,500m and there won't be one interval in this oil bearing zone and the fact is it's flowing, whether that's at a commercial rate is yet to be seen.

There's light moveable oil down there and the data they're gathering from this well will only add to the overall OIP numbers, and this oil bearing structure could be very big as a stand alone.

They'll several appraisal wells/ production to firm up the P1/P2/2C numbers etc. but the oil is there and the question is will they ever get to appraise these deep structure from 2024 onwards?

‘’The Company remains encouraged by the strong oil shows from Deep Well 802. Following an extensive cementing exercise we are now preparing to drill a side-track from a depth of 2,416 meters to a depth of 3,900 meters to target the first interval of interest from which the oil encountered to date has flowed. If successful and based on current timings we expect to test the well before the end of the year.’’

That’s some side track (targeting the first interval - how many intervals are there?) and goes through the salt layer – seems like they stopped drilling soon after the last 3,800m depth update – question is how long is it going to take them to continue drilling to 5,300m after they’ve side tracked the well, will they?

‘’Once the rig in use at Deep Well 802 becomes available it will be used at Deep Well A5 to seek to remove the remaining stuck pipe and then to drill a side-track from a depth of 3,970 meters targeting the oil-bearing interval at a depth of 4,335 which previously produced at the rate of in excess of 1,000 barrels of oil per day (' bopd').

Remember the A5 Deep Well flowed initially 3,800 bopd for a couple of weeks before becoming blocked – get this flowing again and today’s production will double overnight and the monthly dividend to boot.

‘’Work is also planned to resume drilling at Deep Well A7 from a depth of 2,175 meters as rigs and crews become available.’’

This will take approx..4 months to completed – so around mid-next year is my guess for the well to hit TD if no problems.

‘’Work using horizontal drilling which has proved successful at several of the MJF shallow wells is planned for the New Year at existing Deep Wells A6 and 801 at a depth of approximately 4,400 meters.’’

What!! Drilling the deeps horizontally now are we – brilliant news and whatever these 2 wells flowed at initially you can double that.

''Work to bring wells 141 and 142 back into production is expected to resume in Q1 2023. A new shallow well, Well 155, is expected to spud before the end of the year with a planned Total depth of 2,500 meters, once again use a horizontal drilling approach. Work is also planned in H1 2023 to drill the first shallow well at the South Yelemes structure since it was awarded a full production licence. Production continues at the rate of approximately 2,400 bopd.''

We can expect todays production to double just from the existing/ new shallow wells then throw in the deeps and we’re talking serious flow rates getting on for 10,000 bopd by the end of next year. In that case could we be looking at 5 times todays dividend and more when Russian sanctions are lifted/ new route.

Plus another $10 bucks pboo to throw into the dividend kitty in the New Year.

Like I said 2023 will be the year that we see a significant rise in the share price. Imo.

DM,

That's not per year it's per month and will increase on a monthly basis as production increases, by the end of 2023 you can double that '- )

Approx. £44,444 p.a. if paid out monthly at 0.000444p per share / 10 million.

TD 13 NOVEMBER 2022 SO RNS MONDAY 14 NOVEMBER 2022.

2023 IS THE YEAR AND 2024 WE'LL ALL BE MILLIONAIRES EXCEPT FOR THOSE WHO SOLD OUT AT 4-5p AND NOT 45p LOL!

I DON'T KNOW WHAT WILL HAPPEN IN 2025, BUT WHAT I DO KNOW IS I WON'T BE HERE. ;-)

KK,

If they're still drilling at an average speed of 31m pd then they've only got approx. 500m to drill, which will take them another 2 weeks.

Current depth of the 802 Deep Well should be hovering around 4,800m - they were last reported at 3,800m - this is a 1,000m oil zone they're drilling through and who knows they could be doing a flow test through this section, then casing it before continuing down to TD.

Remember when the A5 Deep Well flowed they stopped at around 4,300m? before deciding whether or not to continue down to 5,300m - could be the same with this well if it's currently flowing and an update could be any day.

I reckon TD will be around mid November if no incidents and news then, but happy if news is earlier re flowing etc..

KK,

''Deep Well 801 was spudded on 15 December 2014 with a planned Total Depth of 4,950 meters. The well is located approximately 8 kilometers from Deep Well A5 and was planned to target the same structure as Deep Well A5 in the Middle and Lower Carboniferous''.

If the 802 Deep Well drills into the A5 Deep Wells structure at a depth of around 4,400m where the 3,800 bopd flowed then it's highly likely the bopd won't be in the hundreds but the thousands.

If the 802 Deep Well drills into a separate structure, as did the 801 Deep Well, then yes we may get commercial flow rates in the hundreds?

Let's see.

KK,

Only the drill bit will tell.

We still don't know at what depth the 801 Deep Well flowed 120 bopd - was it near TD?

As your geo says the 802 Deep Wells IP seismic was poor at depth - was it 2D seismic and above any gas cloud there's usually oil/ condensate beneath it.

I don't expect any news until TD, but will be happy with any good news prior.

There's not a cat in hells chance the company are buying back any shares.

Anyone wishing for a 4p-5p buy out are not a full pan of chips and I sincerely hope that when the share price hits 4p-5p again (very soon) they will sell their shares and move on.

13 November for 802 Deep Well TD is my guestimate and news out there abouts.

The share price reaction to all the AGM resolutions being passed is another damp squib.

With no buys before or after the meeting today.

18p to .0022p

Shocking!

The share conversion of the EURO 15 million @ .0045 will add approx. 3 billion shares making around 5 billion shares in issue.

Not so bad....cough.

I reckon we will see a consolidation of shares of perhaps 100/ 1 making the shares in issue around the 50 million mark and a share price of 45p per share.

If you have a million shares today you could end up with 10,000 shares like GKP's 100/ 1 conversion for example.

The share value will remain the same at the point of conversion, but in my experience the share price tends to fall thereafter. imo.

Let's see.

Hoody25,

Not if the 802 Deep Well comes in or dividend/ CE tender confirmed this Q4.

All looking good.