LNS-113 Jun 2018 11:01
It is worth reminding ourselves how positive the RNS was worded.
I am sure that the test will be comprehensive and they will be keen to learn as much as possible about the source rock and the rechargability of the reservoir.
I should imagine that confidence is high.
I have bought another 16000 this morning on the strength of it.
'The well encountered 16.4 meters of net conventional gas pay sands which had an average porosity of 32% in an over-pressured section. Similar to the previously drilled LNB-1, heavier gas shows were encountered indicating the presence of a deeper thermogenic source rock charging the structure. In addition, the cuttings showed evidence of fluorescence indicating the potential presence of liquid hydrocarbons within the section encountered.
Paul Welch, President and CEO of SDX, commented:
"We are very pleased with the results of this exploration well as it has significantly exceeded our pre-drill estimates for both reservoir quality and pay sand thickness. Similar to the LNB-1 discovery, this was a higher risk exploration prospect into a sequence that had not been previously penetrated in a similar structural location. We were prepared for the overpressures in this area and as a result have been able to successfully log and complete this well."
"Once the rig has departed the location we will conduct an extensive test of this well. Given the deeper source rock, the heavier gas elements and fluorescence seen in the cuttings we are anticipating production of condensate during the test which could add some significant value to the production established in this area. It's an excellent way to conclude the drilling program with seven of our nine wells being successful. Most importantly, the results of our last two exploration wells have opened up a very significant new play area for us in the Gharb basin'
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