Details12 Mar 2019 23:53
WINX-1 DRILLING UPDATE
? Comprehensive wireline logging program successfully completed at Winx-1, full petrophysical
analysis and review commenced
? Provisional petrophysical analysis ofthe wireline logging program indicates low oil saturations
in the primary Nanushuk Topset objectives; testing and fluid sampling indicates that reservoir
quality and fluid mobility at this location is insufficient to warrant production testing, despite
encouragement from oil shows and logging while drilling (LWD) data
? Zones ofinterest in the Torok formation, secondary objectives, were identified on wireline logs,
which similarly exhibited low oil saturations and did not flow hydrocarbons during the Modular
Formation Dynamics Test (MDT) pressure testing and fluid sampling program
Otto Energy Limited (ASX:OEL) (“Otto” or the “Company”) is pleased to provide the following update
on the drilling of the Winx-1 well in its Alaska Western Blocks.
Petrophysical interpretation of the LWD data at Winx-1 indicated elevated resistivities associated with
increased mud gas ratios (C1 – C5) in the distinctive Nanushuk Topset sequence comparable with
other successful neighbouring wells in the Nanushuk play fairway. Early indications were encouraging
and, on this basis, a comprehensive wireline program was undertaken to further evaluate the interval
of interest.
The wireline program was designed to fully evaluate and quantify the reservoir potential and
associated shows in the Nanushuk Topsets. The suite comprised specialist logging tools capable of
quantifying laminated pay zones, including nuclear magnetic resonance; a triaxial induction tool that
measures both horizontal and vertical resistivity, FMI (formation micro imager) and an MDT program
to determine pressure gradients and sample fluids from the zones of interest.
Provisional wireline results indicate low oil saturations in the Nanushuk Topsets not conducive to
successfully flowing the formation, as borne out by the MDT sampling results, which did not retrieve
hydrocarbon samples. Reservoir properties appear to be compromised by dispersed clay in the matrix
at Winx-1. This clay is often present in other successful Nanushuk wells but in discrete laminations
with decent quality, high resistivity, oil saturated sandstones in between. The dispersed clay in the
Nanushuk at Winx impacts both fluid mobility and oil saturations. The clay serves to bind much of the
fluid present in place so it cannot flow. It also occupies pore space within the formation, resulting in
a lower relative hydrocarbon saturation. This means that, whilst oil is present in the reservoir, there
is less of it and it is not mobile. Further evaluation will be undertaken post drill to fully understand
the implications of the petrophysical results.
The reservoir performance in the Torok Channel Sequence was better than the Nanushuk in the Winx1 well as evidenced by relatively faster influx of fluid during MDT sampling. On comp
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