RE: Snowcap 327 Feb 2026 08:54
QK1=KeithOz on forum Advfn
Thanks to him
01:54:53 kq1: @ODΒ³ I assume the Internal Test Report (ITR) uses a conservative flow rate estimate: the 180 barrels/day mentioned corresponds to the 30-day sustained flow rate of the SC-1 well, for a single horizon. The SC-3 well targets six known horizons, but since no oil has been produced on the others, no independent expert would suggest a flow rate of 5 x 180 = 900 barrels/day, as it is simply impossible to be certain that oil will flow from all of these horizons. It's better to put forward a conservative figure than to see the market rejoice at a potential rise, rather than the other way around.
The SV-205 well is an impressive piece of equipment, recently used successfully by TXP for its Central Block campaign. It would certainly reach the total depth indicated fairly quickly, thus allowing for cost savings. It remains to be seen whether there are plans to drill a little deeper to explore the underlying Cretaceous formation; without consulting the internal assessment report, I cannot comment on the feasibility or relevance of this option.
We still own our own drilling rig, acquired during the CEG takeover. I wonder if it will be used simultaneously elsewhere; we could therefore have SV, NABI, and our own TRex operating jointly. Interesting times.